Plus500 vs IG Comparison – 2024

Top Reasons to Choose Plus500 or IG

Based on our assessment, Plus500 is well-suited for casual traders looking for a feature-rich trading platform with an intuitive design, commission-free trading, responsive customer support, and high-quality educational resources. On the other hand, IG serves professional traders and investors, offering access to an extensive selection of over 17,000 markets, multiple account options for trading, investing, and wealth management, as well as in-depth research materials.

Plus500: Snapshot

Founded in 2008, Plus500 is listed on the London Stock Exchange and is an official partner of the Chicago Bulls basketball team. The broker operates through eight global entities, four of which are licensed by Tier-1 regulators. It offers commission-free trading on over 2,800 CFDs across various global asset classes through its user-friendly web platform and mobile app. Plus500 also provides 24/7 customer support and a wide range of educational resources.

Plus500: Who is it For?

Plus500 is well-suited for novice traders seeking a straightforward trading experience. Its web platform and mobile app are both intuitive and user-friendly, making it accessible for casual traders. Educational resources, including videos, ebooks, and detailed webinars, are designed primarily for beginner and intermediate traders. Professionals can also access higher leverage (up to 1:300) by passing the regulatory suitability test.

What Makes Plus500 Stand Out?

Plus500 stands out as one of only a handful of brokers listed on the London Stock Exchange. It offers a well-rounded experience with a wide range of markets, strong regulatory oversight, excellent trading platforms, and unique trading tools, providing a solid and accessible trading environment.

IG: Snapshot

Founded in 1974 and headquartered in London, IG is a leading figure in the retail trading and investing sector. Publicly listed on the London Stock Exchange, IG is regulated by 11 financial authorities, including 8 Tier-1 regulators. The broker offers over 17,000 financial instruments, top-notch market research, and a wide range of accounts and tools for trading, investing, and wealth management.

IG: Who is it For?

IG caters to both seasoned traders and beginners. Experienced traders will appreciate the vast selection of markets, account types, and financial products, including CFDs, spread betting, options, futures, and forwards. Professionals can leverage features like direct market access (DMA), VPS hosting, and trading rebates. For beginners, IG offers extensive educational resources and live trading webinars to help build their skills.

What Makes IG Stand Out?

IG is one of the few publicly listed brokers on the London Stock Exchange. It offers unique features such as weekend and out-of-hours pricing, pre- and post-market stock trading, direct market access (DMA), and a broader range of account options and financial products compared to standard brokers.

Trust

Plus500 vs IG Trust and Regulation Comparison

Founded in 2008, Plus500 has a substantial trading history. As a publicly listed company on the London Stock Exchange, it provides a high level of transparency in how it conducts its business. Plus500 operates through eight global entities, four of which are licensed by Tier-1 regulators, including the FCA (UK) and ASIC (Australia). The broker provides clear and detailed information on its website regarding regulatory safeguards and trading fees.

Founded in 1974, IG is known for its financial stability and long-standing reputation. Also publicly listed on the London Stock Exchange, IG maintains a high level of operational transparency. It operates 10 entities globally, regulated by 8 Tier-1 financial authorities, including the FCA (UK) and CFTC/NFA (USA). The website clearly outlines its regulatory protections, trading fees, and terms, offering transparency and reassurance to clients.

If you want to learn more about brokers’ regulations, be sure to check out our article on the top regulated forex brokers.

Fees

Plus500 vs IG Spreads, Fees and Commissions Comparison

In our live test of Plus500’s commission-free Standard CFD Account, we found that the spread for EUR/USD averaged 0.8 pips during both the London and US trading sessions, outperforming the industry average of 1.08 pips. However, a $10 monthly inactivity fee is applied to accounts that remain inactive for three months. Overall, we found Plus500’s fees to be average to competitive, with a fee structure well-suited for short- and medium-term traders.

In our live evaluation of IG’s commission-free CFD account, we observed competitive spreads of 0.6 pips for EUR/USD during the London session and 0.9 pips during the US session. Both beat the industry average of 1.08 pips, making IG favorable for short-term traders. Generally, we rated the spreads at IG as highly competitive. Additionally, a £12 monthly inactivity fee is charged after two years of inactivity, which may benefit longer-term traders who trade less frequently.

For more options, you can also check out our list of the best forex brokers with the lowest spreads.

Platforms and Tools

Plus500 vs IG Trading Platforms Comparison

Plus500 offers a proprietary web trading platform and mobile app designed for casual traders. The web platform includes standard charting tools, multiple chart types, timeframes, technical indicators, and one-click trading. For risk management, guaranteed stop-loss orders are available on select markets, making it helpful when trading in volatile conditions. The mobile app offers the same features as the web platform, along with the +Insights tool, which provides valuable market sentiment data.

IG provides a variety of platforms suited to traders of all experience levels. Beginners will appreciate the simplicity of the IG Web Trader and mobile app, both of which feature built-in market news and trading signals from Autochartist and PIA First. More advanced traders can benefit from desktop platforms like MT4 and ProRealTime, which support algorithmic trading. Professional traders can also access IG’s L2 Dealer platform for direct market access (DMA) trading.

Tradable Instruments

Plus500 vs IG Instruments Selection Comparison

Plus500 offers access to over 2,800 leveraged CFD instruments suitable for both short-term and long-term traders. These include 65 forex pairs, 29 indices, 22 commodities, 104 ETFs, 1,500 global shares, and 14 cryptocurrency CFDs. A standout feature is the ability to trade CFD options on some of the most popular and commonly traded markets, which is especially useful for managing volatility.

IG provides an extensive range of tradable instruments to accommodate various trading and investing strategies. This includes over 17,000 global shares, 98 forex pairs, 80 stock indices, 40 commodities, 19 bonds, and 15 cryptocurrency CFDs. A notable feature for professional traders is the ability to use up to 95% of the shares in your share dealing account to meet margin requirements for spread betting and CFDs.

Customer Support

Plus500 vs IG Customer Support Comparison

Plus500 provides 24/7 customer support via live chat and email. In our test, we found the live chat connection to be quick, with responses to both simple and advanced questions almost immediate. The support agents were knowledgeable and helpful. Unfortunately, the broker does not provide any phone support, which may be a drawback for some users.

IG offers 24/6 customer support through live chat, phone, WhatsApp, and email. In our two-week test, live chat and WhatsApp proved to be the fastest, with responses arriving within seconds. Emails were typically answered within a day, and phone support was easy to connect to. The support team was courteous and well-informed, providing a service that exceeded our expectations.

Research

Plus500 vs IG Research Tools Comparison

Plus500 provides high-quality market research that offers useful insights for beginner and intermediate traders. The in-house analyst team publishes news and market insights three to four times a week, with a focus on fundamental analysis. The platform also features the +Insights tool, which highlights sentiment data based on Plus500 clients’ buying and selling trends. Additionally, a built-in economic calendar helps traders stay updated on important market events.

IG offers an excellent range of market research from its respected in-house analysts. The broker’s library of articles, videos, and live webinars far exceeds the industry average. On some days, IG’s analysts publish four to five in-depth articles covering the latest market movements across global asset classes. Research materials are accessible via the IG website, web platform, and mobile app, and include a detailed economic and corporate calendar, along with a live Thomson Reuters news feed. This content caters to both beginner and advanced traders, offering valuable insights for all experience levels.

Deposits & Withdrawals

Plus500 vs IG Deposit and Withdrawal Methods Comparison

Plus500 offers fee-free deposit and withdrawal options, including bank wire transfers, Visa, Mastercard, Maestro, PayPal, and Skrill. Bank wire deposits can take 1 to 5 business days, while other methods are processed instantly. Withdrawals are typically completed within 1 business day, providing seamless payment options.

IG also provides fee-free deposit and withdrawal options through bank wire transfers, credit/debit cards, and PayPal. Most transactions are processed within 1 to 3 business days, with bank wire transfers typically taking 2 to 5 business days. Deposits and withdrawals via PayPal are processed instantly, offering fast and convenient payment solutions.

Account Types and Terms

Plus500 vs IG Account Types Comparison

Plus500 provides four account types tailored to various trading needs and experience levels: Standard, Professional, Islamic, and Demo. Most accounts are designed for beginner traders, featuring an easy account opening process and a minimum deposit of 100 units in 16 currencies. The Professional account, designed for advanced traders, provides higher leverage but requires passing a suitability test.

IG offers a wide range of trading and investing accounts tailored to various regional and personal needs. A minimum deposit of £250 is required to open an account. Available options include CFD, DMA, Share Dealing, and Corporate accounts. UK residents can also open Spread Betting, ISA, and SIPP accounts. While many accounts are geared towards professional traders and investors, IG also offers beginner-friendly options like a free demo account.

Education

Plus500 vs IG Educational Content Comparison

Plus500 offers a diverse range of educational resources, including articles, videos, ebooks, webinars, and YouTube content. Topics range from the basics of CFD trading to trading psychology, technical analysis, and trading strategies. The material is high quality and primarily geared towards beginner and intermediate traders.

The IG Academy provides an extensive suite of educational resources for traders of all skill levels. These resources include articles, videos, courses, and webinars on subjects such as technical analysis, risk management, and trading psychology. The courses are structured into beginner, intermediate, and advanced levels, offering a comprehensive and well-organized learning experience.

Our Methodology

Since 2011, FX Empire has developed a detailed methodology for evaluating CFD brokers, involving over 250 variables across nine crucial categories. Our team of experts, with deep industry knowledge, conducts live testing and research by interacting with the brokers directly. We check regulations, open accounts, test spreads, account costs, platform functionality, instrument variety, customer support reliability, and the quality of research and educational content. This granular analysis helps us identify each broker’s strengths and weaknesses, keeping our comparisons current with market trends and ensuring our guides meet traders’ needs.

We strive to evaluate each broker objectively, considering how their offerings align with the diverse trading goals and preferences of our readers. Our focus is on providing a balanced overview of each broker’s strengths and weaknesses. This method ensures that our readers receive clear, insightful comparisons to aid in making well-informed trading decisions.

We employ a comprehensive rating system across nine key categories:

• Trust
• Fees
• Platforms and Tools
• Tradable Instruments
• Customer Support
• Research
• Deposits and Withdrawals
• Account Types and Terms
• Education

In each category, we conduct an in-depth analysis for both brokers, outlining features, advantages, and disadvantages and determining their suitability for different trader profiles. By blending insights from our extensive reviews with first-hand experiences and observations, we ensure each comparison is balanced, informative, and tailored to the trader’s unique needs. You can read more about our review process here.

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