IC Markets Vs Plus500

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

In today’s fast-paced financial landscape, online trading platforms have become an integral part of the investment world. As more and more individuals seek opportunities to engage in trading various financial instruments, it’s essential to have a comprehensive understanding of the available platforms. In this article, we delve into a comparison between two prominent online trading platforms, IC Markets and Plus500. By examining their features, offerings, and user experiences, we aim to shed light on the strengths and weaknesses of each platform, helping traders make informed decisions regarding their investment journey. So, let’s dive into this head-to-head battle between IC Markets and Plus500, exploring the aspects that set them apart and the factors that potential traders should consider when choosing their preferred trading platform.

Overview of IC Markets

IC Markets

IC Markets

IC Markets is a highly regarded trading platform that stands out in the financial industry, offering a plethora of impressive features tailored to meet the needs of modern traders. Serving as a trusted platform for over a decade, IC Markets provides traders with a comprehensive range of trading instruments, including Forex and CFDs. With a strong focus on advanced technology and infrastructure, the platform ensures fast execution speeds and access to deep liquidity, resulting in efficient order processing. Traders can choose from multiple industry-standard platforms like MetaTrader 4, MetaTrader 5, and cTrader, each offering a rich suite of tools and customizable options. IC Markets’ commitment to transparency is evident through its ECN model, granting direct market access, competitive spreads, and transparent pricing. Overall, IC Markets impresses with its cutting-edge technology, diverse instrument selection, and user-friendly platforms, making it a top choice for traders seeking a feature-rich trading experience.

Pros

  • Advanced technology and infrastructure for fast execution.
  • Diverse range of trading instruments, including Forex, CFDs, indices, commodities, stocks, and cryptocurrencies.
  • Multiple trading platforms like MetaTrader 4, MetaTrader 5, and cTrader.
  • Competitive pricing with tight spreads.
  • Regulated by ASIC for trust and compliance.

Cons

  • Limited educational resources.
  • Not available for U.S. clients.
  • Advanced features may be complex for beginners.
IC Markets Logo

IC Markets is the world’s largest true ECN trading broker offering over 2,000 trading instruments across multiple markets on the most popular trading platforms. They are a multi-regulated broker with deep liquidity pools that can provide you with rapid trade execution speeds, low spreads, low commission fees, various funding options and 24/7 support.

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 renowned for its array of impressive features. Established in 2008, Plus500 offers a diverse range of CFDs, providing traders with ample opportunities to explore different markets. The platform stands out with its proprietary web-based platform and intuitive mobile applications, enabling users to trade seamlessly from any device. Plus500’s emphasis on simplicity and convenience is evident in its streamlined trading process and interface. Moreover, with a strong regulatory framework in place, traders can have confidence in the platform’s security and reliability. Overall, Plus500 has a comprehensive selection of tradable assets, making it an appealing choice for both experienced traders and those new to online trading.

Pros

  • Intuitive trading platform.
  • Diverse range of financial instruments including Forex, stocks, commodities, indices.
  • Streamlined trading process with real-time market data.
  • Availability of proprietary web-based platform and mobile applications for trading on the go.
  • Strong regulatory framework ensuring security and reliability.

Cons

  • Limited educational resources for traders seeking in-depth educational materials.
  • No access for U.S. clients.
  • Limited customization options compared to other platforms.
  • Advanced charting and technical analysis tools may be less robust than specialized trading platforms.
  • Customer support response time can be slow during peak trading periods.
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 IC Markets and Plus500

When comparing IC Markets and Plus500, there are several important factors to consider. Let’s explore each aspect in more detail:

Trading Platforms

IC Markets utilizes the popular MetaTrader 4 and MetaTrader 5 platforms, known for their advanced charting tools and comprehensive trading features. Plus500 has developed its proprietary trading platform, providing a seamless trading experience. Evaluating the trading platforms’ functionalities and features is crucial in determining which platform aligns best with your trading style and preferences.

Regulation

IC Markets holds a global Tier-1 license, highlighting its commitment to regulatory compliance. This tier of regulation is considered the most reputable and trustworthy, providing an additional layer of security for traders. 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).

Forex Pairs

IC Markets offers traders an extensive selection of 61 currency pairs to trade. This wide range provides ample opportunities for diversification and allows traders to capitalize on various currency market movements. Conversely, the number of available currency pairs for Plus500 is not specified, making it difficult to determine the extent of their forex trading options. A broader selection of currency pairs allows traders to explore different markets, find more potential trading opportunities, and implement various strategies based on their preferences and market conditions.

Tradable Symbols

Plus500 boasts a substantial offering of 12,000 CFDs (Contracts for Difference), indicating a vast array of tradable assets. CFDs allow traders to speculate on the price movements of underlying assets without owning them. In comparison, IC Markets provides access to 3,583 available CFDs. A larger selection of CFDs, as offered by Plus500, can provide traders with more diverse investment options across multiple asset classes, including stocks, commodities, indices. This breadth of tradable symbols allows traders to explore various markets and potentially identify more lucrative trading opportunities.

Exotic Currency Pairs

IC Markets stands out with a wider selection of exotic currency pairs. Exotic currency pairs involve currencies from emerging or smaller economies, such as the Turkish Lira, South African Rand, or Mexican Peso. These currency pairs tend to have lower liquidity and higher volatility compared to major currency pairs like EUR/USD or GBP/USD. However, they can also offer potentially higher returns for traders who are experienced and knowledgeable about these markets. The availability of a diverse range of exotic currency pairs on IC Markets caters to more seasoned investors who seek exposure to specific regions or economies.

IC Markets or Plus500: Which is Best for You?

When considering the choice between IC Markets and Plus500, it’s important to assess your individual trading needs and preferences to determine the best fit for you. Holding a global Tier-1 license, IC Markets demonstrates a strong commitment to maintaining a secure and reliable trading environment, instilling confidence in its traders. On the other hand, if you value a wide range of available contracts for difference (CFDs) and diverse investment options, Plus500 may be the more suitable choice. With an extensive offering of 12,000 CFDs across various asset classes, including stocks, commodities, indices, Plus500 provides traders with ample opportunities to explore different markets and diversify their portfolios.

For forex traders seeking a comprehensive selection of currency pairs, IC Markets is the recommended option. With access to 61 currency pairs, traders can take advantage of diverse forex trading opportunities and capitalize on market movements across different currency pairs.

However, if your interest lies in trading exotic currency pairs from emerging or smaller economies, IC Markets excels in this area. Its wider selection of exotic currency pairs caters to the needs of experienced traders who seek exposure to specialized markets.

Ultimately, the decision between IC Markets and Plus500 depends on your specific trading requirements, risk appetite, and market interests. Consider factors like trustworthiness, available instruments, regulatory compliance, and your desired level of market exposure to make an informed choice.

Conclusion

In summary, when deciding between IC Markets and Plus500, it is essential to evaluate your priorities and trading preferences. IC Markets offers a high level of trustworthiness, regulatory compliance, and a comprehensive selection of forex pairs, including exotic currency options. On the other hand, Plus500 excels in providing a diverse range of CFDs, allowing traders to explore various asset classes. Consider factors such as trustworthiness, available instruments, regulatory compliance, and your desired level of market exposure to make an informed decision that aligns with your trading goals and risk tolerance.


Relevant Articles