FXTM Vs Plus500

Category: Broker Guides | Author: Trading Brokers | Date: June 27, 2023

In today’s fast-paced financial landscape, choosing the right trading platform is crucial for both seasoned traders and newcomers. With a myriad of options available, two platforms, FXTM and Plus500, have gained significant recognition. This article presents a comprehensive comparison of FXTM and Plus500, focusing on key aspects such as functionality, user experience, trading tools, and security. By delving into the unique features and strengths of each platform, traders can make informed decisions to optimize their trading experience. Join us as we delve into the world of FXTM and Plus500 to unravel the finer nuances of these leading trading platforms.

Overview of FXTM

FXTM

FXTM

FXTM, also known as ForexTime, is a prominent online trading platform that has garnered a strong reputation in the financial industry. With a commitment to providing cutting-edge technology and exceptional trading services, FXTM offers a diverse range of investment opportunities in various financial markets, including forex, commodities, indices, and cryptocurrencies. Its user-friendly interface ensures smooth navigation, while advanced trading tools empower users to execute trades with precision and efficiency. FXTM’s competitive spreads, flexible leverage options, and multiple account types cater to traders of all levels, allowing them to customize their trading experience according to their preferences. Additionally, FXTM boasts robust security measures and regulatory compliance, ensuring the safety of client funds and confidential information.

Pros

  • Diverse range of investment opportunities in forex, commodities, indices, and cryptocurrencies.
  • User-friendly interface for easy navigation.
  • Advanced trading tools for precise and efficient trade execution.
  • Competitive spreads and flexible leverage options.
  • Multiple account types to cater to traders of all levels.
  • Strong security measures and regulatory compliance for client fund protection.

Cons

  • Limited educational resources for beginner traders.
  • Customer support response times can be slow during peak periods.
  • Availability of certain trading instruments may vary depending on the region.
  • Some traders may find the platform’s features overwhelming at first.
FXTM Logo

FXTM is an award-winning broker with strict regulation in multiple jurisdictions. They have user-friendly trading platforms, various account types and funding methods, along with a vast range of educational materials and trading tools to help you make informed trade decisions.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Overview of Plus500

Plus500

Plus500

Plus500 is a highly regarded online trading platform that offers a comprehensive suite of features, making it a preferred choice among traders. Specializing in Contracts for Difference (CFDs), Plus500 allows users to access a wide array of financial markets, including stocks, forex, commodities, indices. The platform’s interface and intuitive design make navigation seamless, enabling both experienced and novice traders to easily execute trades. Plus500 provides a range of powerful trading tools, such as real-time market data, customizable charts, and risk management features, empowering users to make informed trading decisions. With competitive spreads and fast trade execution, Plus500 ensures that users have optimal trading conditions. Additionally, the platform places a strong emphasis on security by utilizing advanced encryption technology and adhering to strict regulatory standards, providing users with confidence in the safety of their funds and personal information.

Pros

  • Wide range of financial markets available, including stocks, forex, commodities, indices.
  • Powerful trading tools, including real-time market data and customizable charts.
  • Competitive spreads and fast trade execution.
  • Emphasis on user security with advanced encryption technology and regulatory compliance.

Cons

  • Limited educational resources for beginner traders.
  • Availability of certain trading instruments may vary based on the region.
  • Customer support response times can be slow during peak periods.
  • Limited research and analysis tools compared to some other platforms.
  • Inactivity fees may apply if an account remains dormant for an extended period.
Plus500 Logo

Founded in 2008, Plus500 is a regulated and leading online trading broker providing a large range of 2,000+ CFD instruments for trading on their proprietary trading platforms with very competitive trading conditions.

81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Comparing FXTM and Plus500

The following are key considerations when comparing FXTM and Plus500:

Regulation

FXTM takes regulatory compliance seriously and is authorized by multiple reputable financial authorities, including the FSC (Mauritius), CySEC (Cyprus), FCA (United Kingdom), FSCA (South Africa), and Capital Markets Authority of Kenya (Kenya). Plus500 also maintains a strong regulatory presence, being regulated by the FCA (United Kingdom), CySEC (Cyprus), ASIC (Australia), ISA (Israel), FSCA (South Africa), MAS (Singapore), and DFSA (United Arab Emirates). These robust regulatory frameworks provide traders with confidence in the platforms, ensuring fair and transparent operations.

Fees

When it comes to fees, FXTM charges an average level of trading fees while offering low forex fees. Additionally, it imposes high non-trading fees such as withdrawal and inactivity fees. On the other hand, Plus500 charges average trading and non-trading fees, including spreads and commissions. It’s important for traders to consider these fee structures based on their trading style and preferences.

Trading Platform

FXTM offers the highly popular MetaTrader 4 and MetaTrader 5 trading platforms. These platforms are well-regarded among forex traders for their user-friendly interface, advanced charting tools, and a wide range of technical indicators. In contrast, Plus500 provides its own proprietary trading platform. Traders can expect a seamless trading experience with both platforms, but it’s worth considering individual preferences when choosing between them.

Deposit and Withdrawal

Both FXTM and Plus500 offer a variety of deposit and withdrawal methods to cater to traders’ needs. FXTM supports options such as WebMoney, Skrill, wire transfer, credit/debit cards, YooMoney, Neteller, UnionPay, QIWI, Perfect Money, DIXIPAY, FasaPay, Crypto, and Google Pay. Plus500 provides deposit and withdrawal options like PayPal, Skrill, wire transfer, credit/debit cards, BPAY, iDEAL, SOFORT, giropay, and Przelewy24. Traders should consider their preferred payment methods and availability when selecting a platform.

Research and Education

FXTM offers comprehensive research tools, including news updates, market analysis, and an economic calendar. The broker also provides educational resources such as webinars, seminars, and trading guides to assist traders in expanding their knowledge. Plus500 offers research tools like news updates and an economic calendar. Additionally, they offer educational resources such as video tutorials and trading guides. Traders seeking research and educational support should assess the offerings of each platform.

Spread

The spread is an important consideration for traders, as it represents the cost incurred when entering a trade. Plus500 boasts an average spread of 0.7 pips for the popular EUR/USD currency pair. In comparison, FXTM has a spread of 1.2 pips for the same currency pair. Traders should evaluate the competitiveness of spreads based on their trading strategies and preferred markets.

FXTM or Plus500: Which is Best for You?

If you’re someone who values a diverse range of investment opportunities and wants access to multiple financial markets, including forex, commodities, indices, both FXTM and Plus500 offer extensive options. These platforms allow you to trade across various markets, providing the flexibility to diversify your portfolio and take advantage of different market movements.

A familiar interface are important considerations for many traders. Plus500’s proprietary platform stands out in this aspect, known for its intuitive design. Its streamlined layout and clear navigation make it suitable for traders who prioritize a seamless trading experience without the need for extensive customization.

For those who appreciate advanced functionality and customization options, FXTM’s support of both MetaTrader 4 and MetaTrader 5 is a significant advantage. These widely acclaimed platforms offer a wealth of technical analysis tools, customizable charts, and expert advisors, empowering traders to implement sophisticated trading strategies tailored to their preferences.

When it comes to fees, your priorities may vary. If low forex fees are your focus, and you are comfortable with average trading fees, FXTM may be more suitable for you. On the other hand, if you prefer a balance between average trading and non-trading fees, Plus500 could be the better option. It’s important to carefully assess the fee structures based on your trading style and frequency.

Consider your preferred deposit and withdrawal methods as well. FXTM provides a wide range of options, including WebMoney, Skrill, credit/debit cards, and more. Plus500 supports popular methods such as PayPal and wire transfer. Evaluating the availability and convenience of these methods can help you choose the platform that aligns with your needs.

Research and educational resources are crucial for traders seeking to enhance their knowledge and skills. FXTM offers comprehensive research tools, including news updates, market analysis, economic calendars, and educational resources such as webinars and seminars. Plus500 provides news updates, an economic calendar, along with video tutorials and trading guides. Consider the depth and format of these resources to determine which platform better supports your learning and analysis needs.


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