Compare IG vs Plus500: IG offers advanced platforms, 17,000+ instruments, and fast execution, ideal for pros. Plus500's simplicity, commission-free trading suits beginners. Which fits you?
Both IG and Plus500 are leading brokers in the Forex and CFD industry, offering traders a wide range of trading instruments, competitive spreads, and advanced platforms. However, these two brokers differ significantly in terms of regulation, platform offerings, and target trader profiles. In this detailed comparison of IG vs Plus500, we will explore the key features and differences between the two brokers, helping you decide which one best fits your trading style and requirements.
Regulation and Trustworthiness
IG: IG is one of the most well-regulated brokers in the industry, with oversight from several top-tier regulatory bodies, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Commodity Futures Trading Commission (CFTC) in the US. IG's broad regulatory coverage makes it a highly trusted broker globally, ensuring the protection of client funds and transparent trading practices. The broker has a long history, having been founded in 1974, which adds to its credibility and trustworthiness.
Plus500: Plus500 is also a well-regulated broker, holding licenses from the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC). Plus500 has built a strong reputation for providing a secure and regulated trading environment. The broker is publicly listed on the London Stock Exchange (LSE), further boosting its credibility in the financial markets.
Verdict: Both IG and Plus500 are highly regulated by top-tier authorities, making them trustworthy options for traders worldwide. IG's additional regulation in the US gives it an edge in global regulatory coverage, while Plus500's listing on the LSE also strengthens its reliability. Overall, both brokers offer a high level of security and transparency for traders.
Trading Platforms
IG: IG offers a variety of trading platforms, including its proprietary platform, MetaTrader 4 (MT4), and L2 Dealer for direct market access (DMA). IG's proprietary platform is highly intuitive and feature-rich, with advanced charting tools, technical analysis, and a user-friendly interface. IG also offers access to TradingView, which provides traders with more in-depth charting and analytical tools. The platform is available on desktop, web, and mobile, making it easy for traders to access their accounts from anywhere. For professional traders, IG’s L2 Dealer platform offers DMA for greater control over trade execution.
Plus500: Plus500 operates exclusively on its proprietary platform, which is designed to be user-friendly and straightforward, making it ideal for beginner and intermediate traders. The platform offers real-time market data, charting tools, and risk management features such as guaranteed stop-loss orders. While Plus500's platform lacks the advanced features of MetaTrader 4 or direct market access, it is easy to navigate and available on desktop, web, and mobile devices.
Verdict: IG offers more platform variety and advanced features, including MetaTrader 4 and direct market access through L2 Dealer, making it a better choice for professional and advanced traders. Plus500's proprietary platform is more streamlined and beginner-friendly, making it suitable for traders who prefer simplicity. Traders looking for advanced features and more platform options may prefer IG, while those seeking an easy-to-use interface may prefer Plus500.
Trading Instruments
IG: IG provides access to over 17,000 markets, including Forex, indices, commodities, stocks, ETFs, cryptocurrencies, options, and bonds. The broker is particularly strong in CFD trading, offering a wide range of global stocks and indices. IG also offers Forex trading with more than 80 currency pairs, as well as a broad selection of commodities like gold and oil, making it suitable for traders looking to diversify across various asset classes.
Plus500: Plus500 offers access to over 2,000 trading instruments, including Forex, indices, commodities, cryptocurrencies, and shares via CFDs. While Plus500 provides a solid selection of instruments, it does not offer the same extensive range of markets as IG. However, Plus500 does provide a strong selection of CFDs on global stocks and popular cryptocurrencies, appealing to traders who focus on these markets.
Verdict: IG has a clear advantage in terms of the number of trading instruments, offering access to over 17,000 markets, including a wider variety of stocks, options, and bonds. Plus500 is more limited in its market offerings but still provides a strong selection of CFDs on popular assets. Traders looking for a broader range of markets and asset classes will prefer IG, while Plus500 may be more suitable for traders focused on CFDs and cryptocurrencies.
Spreads and Fees
IG: IG offers competitive spreads across its markets, with Forex spreads starting as low as 0.6 pips on major currency pairs. For stock CFDs, IG charges a commission alongside tight spreads. IG’s pricing is transparent, with no hidden fees for deposits or withdrawals. Additionally, IG does not charge an inactivity fee, making it a cost-effective option for long-term traders.
Plus500: Plus500 offers commission-free trading, with all fees built into the spread. Forex spreads typically start from 0.8 pips, depending on market conditions. Plus500 does not charge commissions on any trades, but it does charge an inactivity fee after three months of no trading activity. Additionally, Plus500 offers risk management features like guaranteed stop-loss orders, which come with a premium.
Verdict: Both brokers offer competitive pricing, but IG generally provides lower spreads on Forex, particularly for active traders. Plus500's commission-free trading structure is appealing to traders who prefer simplicity and no extra charges for each trade. However, IG offers more transparent pricing for professional traders who may prefer tighter spreads and direct market access.
Leverage
IG: IG offers leverage of up to 1:30 for retail clients in the EU and Australia due to regulatory restrictions. For professional traders and non-EU clients, leverage can go up to 1:200, depending on the asset class. This higher leverage is suitable for experienced traders looking to maximize their exposure to the markets, but it also increases the risk.
Plus500: Plus500 offers leverage of up to 1:30 for retail traders in the EU and Australia, in line with regulatory guidelines. For professional clients or traders outside the EU, leverage can go up to 1:300, depending on the asset class. Plus500’s leverage offerings are competitive for CFD trading, particularly for Forex and cryptocurrencies.
Verdict: Both brokers offer similar leverage limits for retail traders, in line with regulatory requirements. For professional traders, Plus500 provides slightly higher leverage (up to 1:300), which may be more appealing to traders looking for higher exposure in certain markets. IG, however, offers a more balanced range of leverage options across various asset classes.
Order Execution and Speed
IG: IG is known for its fast execution speeds, particularly for its DMA platform (L2 Dealer) and its MetaTrader 4 (MT4) offering. IG uses advanced technology to minimize slippage and ensure trades are executed at the best possible price. This makes IG a popular choice for traders who require fast execution, such as scalpers and day traders.
Plus500: Plus500 operates as a market maker, which means it acts as the counterparty to its clients' trades. While Plus500 offers reliable execution for retail traders, it may not match the low-latency execution speeds available with IG’s DMA or ECN models. Plus500’s platform is designed for ease of use, rather than catering to professional traders who require ultra-fast execution.
Verdict: IG has the clear advantage in terms of execution speed, especially for traders who need direct market access and low-latency trading. Plus500’s market maker model is sufficient for most retail traders, but advanced and professional traders may prefer the faster execution and more control offered by IG.
Customer Support and Education
IG: IG offers 24/5 customer support via live chat, phone, and email. The broker also provides an extensive range of educational resources, including webinars, tutorials, and in-depth articles on various trading topics. IG Academy is one of the most comprehensive educational platforms in the industry, catering to both beginners and advanced traders.
Plus500: Plus500 offers 24/7 customer support through live chat and email, but it does not provide phone support. The broker’s educational resources are more limited compared to IG, with a focus on basic trading guides and tutorials. Plus500’s platform is designed to be easy to use, so its educational offerings are geared more towards beginner traders who need help understanding the basics.
Verdict: IG has the edge in customer support and education, offering a wider range of educational content and more comprehensive customer service options. Plus500’s 24/7 live chat support is convenient, but its lack of phone support and limited educational resources may be a drawback for traders who need more in-depth assistance or training.
Account Types and Features
IG: IG offers a range of account types to cater to different traders, including retail accounts, professional accounts, and spread betting accounts (for UK clients). For professional traders, IG offers additional features like higher leverage and access to direct market access (DMA) through its L2 Dealer platform. IG also provides Islamic accounts for traders who require Sharia-compliant trading options. Additionally, IG offers demo accounts, allowing traders to practice and test strategies in a risk-free environment before trading with real money.
Plus500: Plus500 offers a single, standard account type for all traders. This account has a simple fee structure, with no commissions and all costs built into the spread. While Plus500 does not offer different account types for retail and professional clients, it does provide Islamic accounts for those who require them. Plus500 also offers a demo account, giving new traders the opportunity to familiarize themselves with the platform and develop their trading strategies without any financial risk.
Verdict: IG offers more variety in account types, including professional accounts with additional features like higher leverage and direct market access. Plus500’s single account type simplifies the trading process, but it may not be ideal for traders who want more advanced options or professional-grade features. Traders seeking flexibility in account types and features will likely prefer IG, while those who want a simple, straightforward account setup may opt for Plus500.
Deposit and Withdrawal Methods
IG: IG supports a wide range of deposit and withdrawal methods, including bank transfers, credit/debit cards, and e-wallets like PayPal and Skrill. IG does not charge fees for deposits or withdrawals, and most transactions are processed within 24 hours. The broker also supports multiple base currencies, helping international traders avoid unnecessary conversion fees.
Plus500: Plus500 also supports a variety of payment methods, including bank transfers, credit/debit cards, PayPal, and Skrill. While Plus500 does not charge fees for deposits, it may charge withdrawal fees depending on the payment method. Withdrawal times can vary, but most requests are processed within 1-3 business days.
Verdict: Both brokers offer a good range of deposit and withdrawal methods, but IG has the advantage of not charging any fees for withdrawals. Plus500’s potential withdrawal fees may be a drawback for some traders. Traders looking for faster, fee-free transactions may prefer IG, while Plus500 offers similar flexibility with slightly longer processing times.
Mobile Trading
IG: IG offers a powerful mobile trading experience through its proprietary platform and the MetaTrader 4 (MT4) app. The IG mobile app is feature-rich, providing access to advanced charting tools, technical analysis, and real-time market data. Traders can execute and manage trades on the go with full functionality. IG’s mobile platform is designed for both beginner and advanced traders, offering flexibility without sacrificing essential trading tools.
Plus500: Plus500 provides a highly intuitive mobile trading app that is easy to use and designed for a simplified trading experience. The app offers access to real-time market data, customizable charting tools, and one-click trading. While Plus500’s mobile app lacks some of the advanced features of IG’s platform, it is ideal for beginner and intermediate traders who prioritize ease of use and a clean interface.
Verdict: Both brokers offer strong mobile trading experiences, but IG’s app provides more advanced features and greater flexibility, making it better suited for experienced traders. Plus500’s mobile app is simpler and more user-friendly, making it a good choice for beginner traders. Traders who require advanced tools and features on mobile may prefer IG, while those who want a straightforward, easy-to-navigate mobile app will appreciate Plus500.
Research and Market Analysis
IG: IG is renowned for its comprehensive research and market analysis tools. The broker provides daily market commentary, technical analysis, and access to professional research from third-party providers like Trading Central. IG also offers an economic calendar, market news, and trading ideas to help traders stay informed about market trends and developments. Additionally, IG’s integration with TradingView enhances its charting and analytical capabilities, making it a strong choice for traders who rely on technical analysis.
Plus500: Plus500 offers basic market analysis and an economic calendar but lacks the depth of research tools provided by IG. Plus500’s platform is designed for simplicity, so while it offers real-time market data and basic charting tools, it does not provide the in-depth market analysis or third-party research tools available with IG. Plus500 is more suited for traders who prefer a self-directed approach with minimal external analysis.
Verdict: IG is the clear winner when it comes to research and market analysis, offering a wealth of tools, insights, and professional-grade analysis. Plus500’s platform is more focused on simplicity, with fewer research tools available. Traders who rely on in-depth market research and technical analysis will prefer IG, while those who want a more straightforward trading experience may find Plus500 sufficient.
Conclusion
IG vs Plus500: The Verdict
In the comparison of IG vs Plus500, both brokers offer distinct advantages depending on the trader’s preferences and experience level. IG excels in offering a broad range of trading instruments, advanced trading platforms like MetaTrader 4 and direct market access, and comprehensive research tools. It is particularly well-suited for professional and advanced traders who need sophisticated tools, fast execution, and access to global markets.
Plus500, on the other hand, is designed for simplicity and ease of use, making it an ideal choice for beginner and intermediate traders. Plus500’s commission-free trading, intuitive platform, and straightforward fee structure make it a great option for those who prefer a hassle-free trading experience with fewer complexities. However, it lacks the advanced features and variety of tools offered by IG.
Ultimately, IG is the better choice for traders who need more platform flexibility, advanced research tools, and a wider range of instruments. Plus500 is best suited for traders who prioritize simplicity and ease of use over advanced features. The choice between these two brokers will depend on your trading style, experience level, and the tools you need to succeed in the markets.
Published by:
Daniel Carter