IC Markets vs Plus500: Which One Is Best?

2. Better Trading Platform –  IC Markets

In the world of forex trading, selecting the right platform is crucial for success. A premier trading platform provides advanced charting tools, real-time market data, and exceptionally fast execution speeds. It boasts user-friendly interfaces, extensive customization options, and robust security features. Furthermore, with support for automated and social trading, along with access to a diverse array of financial instruments, traders can approach the markets with assurance. Whether you’re just starting or are an experienced professional, the ideal platform empowers you to trade more intelligently and efficiently. In this review, we will explore IC Markets and Plus500 to determine which one emerges as the superior choice.

IC Markets, established in 2007 and based in Australia, is a renowned global forex and CFD broker celebrated for its attractive pricing, extensive selection of trading instruments, and cutting-edge trading technology. It is regulated by several top-tier financial authorities, including ASIC, CySEC, and FSA, and serves over 180,000 clients from more than 200 countries.

Founded in 2008 and headquartered in Israel, Plus500 has emerged as a premier brokerage firm specializing in CFD trading. With over 25 million registered traders in 50 countries, it delivers a user-friendly proprietary platform that enhances the trading experience. Plus500 is regulated by reputable entities such as the FCA, ASIC, and CySEC.

We have created a software questionnaire if you are unsure what platform best suits your trading style. Based on six simple questions, we can recommend the best trading software for your trading needs.

MetaTrader

IC Markets empowers its clients with a diverse selection of trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader, each accessible via desktop, web, and mobile apps for both Android and Mac. MT4 continues to be favored for its user-friendly interface and robust community support, along with an extensive marketplace. Meanwhile, MT5 enhances the trading experience with improved features such as more detailed charts, advanced analytical tools, and the capability to trade an expanded range of CFDs, including stock CFDs. Additionally, IC Markets equips traders with sophisticated tools, boasting 20 unique features such as the Alarm Manager, Correlation Matrix, and Trade Simulator, ensuring a comprehensive trading experience.

Advanced Platforms

IC Markets’ cTrader platform is specifically designed for forex traders, boasting features such as depth of market, advanced take-profit and stop-loss levels, extensive customization options, and detachable charts. It also supports cAlgo, utilizing the C# programming language for automated trading. In contrast, Plus500 provides a proprietary trading platform that is accessible on iPhone/iPad, Android, Windows Mobile, Windows 10, and through its Web Trader interface. While this platform is user-friendly and intuitive, it does not support scalping, automated trading via EAs, or social trading functionalities.
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Copy Trading

IC Markets provides an excellent copy trading feature on its MetaTrader platforms, enabling traders to mimic the trades of experienced professionals. This functionality is especially advantageous for beginners eager to learn from seasoned experts. In contrast, Plus500 does not include copy trading options, concentrating instead on delivering a simple and user-friendly trading experience via its proprietary platform.

IC Markets excels with its extensive selection of trading platforms, including MetaTrader and cTrader, complemented by sophisticated trading tools and innovative copy trading features. On the other hand, Plus500, despite its absence of certain advanced functionalities, presents a highly user-friendly proprietary platform that is ideal for traders in search of a straightforward and intuitive trading experience. Both brokers are well-regulated and guarantee a secure trading environment, ensuring a trustworthy and diverse trading experience for users.

Our Better Trading Platform Verdict

Undeniably, IC Markets outshines the challenger in this category due to their better trading platform.

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*Your capital is at risk ‘72.53% of retail CFD accounts lose money’

3. Superior Accounts And Features – IC Markets

Looking for a forex broker that suits your trading style? IC Markets and Plus500 offer competitive spreads, low commissions, and advanced tools. They provide demo accounts, swap-free options, and various instruments, along with features like social trading and strong customer support. This review highlights what sets them apart to help you choose the best fit. Let’s begin!

IC Markets and Plus500 provide tailored trading solutions through their unique account types:

IC Markets Raw Spread Account: This account offers exceptional trading conditions with raw spreads beginning at 0.0 pips and an average of just 0.1 pips on EUR/USD pairs. A commission of $3.50 per lot per side is charged, and the minimum deposit required is $200. You can leverage your trades up to 500:1, depending on your regulatory jurisdiction. This account is versatile and accommodates a range of trading strategies, including scalping and the implementation of expert advisors.

Plus500 Account: Plus500 presents a streamlined trading experience with a single account type that boasts commission-free trading and competitive spreads starting at just 0.06 pips. A minimum deposit of $100 is required, and traders can enjoy leverage up to 300:1, adhering to regulatory guidelines. As a market maker, Plus500 serves as the counterparty to all trades, which may lead to slightly wider spreads when compared to ECN brokers.

IC Markets offers an impressive selection of trading platforms, including MetaTrader 4, MetaTrader 5, and cTrader, all optimized for a variety of devices. In contrast, Plus500 provides a proprietary platform that stands out for its user-friendly and intuitive design, though it may lack some advanced features such as support for expert advisors.

Risk Management: IC Markets prioritizes rapid execution speeds and cutting-edge technology to reduce risks such as slippage. Meanwhile, Plus500 provides a comprehensive range of risk management tools, including guaranteed stop-loss orders, a feature lacking in IC Markets’ offerings.

In noteworthy forex market developments, the Australian dollar (AUD) has plummeted to a near five-year low of 61.84 US cents. This decline is driven by factors such as looming global trade tensions and the strong performance of the U.S. economy. Analysts indicate that the Reserve Bank of Australia may contemplate interest rate cuts to bolster the economy amid these mounting challenges.

Traders engaged with EUR, AUD, and USD pairs must remain vigilant about key economic indicators and central bank policies. These factors can significantly influence trading strategies and contribute to market volatility.

Our Superior Accounts and Features Verdict

IC Markets brings home the crown due to their superior accounts and features.

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*Your capital is at risk ‘72.53% of retail CFD accounts lose money’

4. Best Trading Experience And Ease – IC Markets

Choosing the right trading platform is crucial. IC Markets and Plus500 offer advanced features, fast execution, and competitive spreads, along with user-friendly interfaces, solid customer support, and trading tools. Access to educational resources and risk management is important for both beginners and professionals. This review will compare these brokers to help you find the best fit for your trading style.

When it comes to trading platforms, both IC Markets and Plus500 offer unique advantages tailored to different trader preferences.

IC Markets shines with its robust support for the MetaTrader 5 (MT5) platform, acclaimed for its advanced features and flexibility. Traders can seamlessly access a diverse array of assets, including forex, stocks, commodities, and cryptocurrencies, all from one convenient platform. The MT5 platform boasts sophisticated charting tools, comprehensive technical analysis capabilities, and facilitates automated trading strategies, making it an ideal choice for both novice and seasoned traders alike. Moreover, IC Markets enhances the trading experience with competitive spreads starting at just 0.0 pips and minimal commission fees.

Plus500 boasts a proprietary trading platform that stands out for its user-friendly and intuitive interface. This platform facilitates a seamless trading experience across various devices, including web browsers, Windows PCs, smartphones, and tablets. With a keen emphasis on simplicity and ease of navigation, Plus500 is especially attractive to beginners. It features real-time quotes, interactive charts, and a suite of risk management tools, including guaranteed stop-loss orders, providing an added layer of protection for traders. Operating on a commission-free model with competitive spreads, Plus500 offers a diverse array of financial instruments, encompassing CFDs on forex, stocks, commodities, and cryptocurrencies.

In conclusion, IC Markets is the perfect choice for traders looking for a platform that offers advanced features, a diverse selection of tradable assets, and support for automated trading strategies. On the other hand, Plus500 is designed for those who value a user-friendly interface, an uncomplicated trading experience, and strong risk management tools. Ultimately, your decision between the two will hinge on your specific trading requirements and level of experience.

Our Best Trading Experience and Ease Verdict

Based on our team’s comprehensive testing and analysis, IC Markets ranks highest in this field owing it to their best trading experience and ease.

IC Markets ReviewVisit IC Markets

*Your capital is at risk ‘72.53% of retail CFD accounts lose money’

5. Stronger Trust And Regulation – Plus500

In forex trading, trust and regulation are crucial for a secure environment. Well-regulated brokers like IC Markets and Plus500 provide confidence through strict standards against fraud. This attracts more traders seeking reliable platforms. We’ll review their regulatory status, security measures, and overall trustworthiness to help you choose the right broker.

IC Markets Trust Score

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Plus500 Trust Score

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In this section, we see that Plus500 has a higher trust score of 78 over IC Markets’ 61.

IC Markets and Plus500 are both regulated by multiple authorities, providing different leverage options that vary according to jurisdiction.

IC Markets is regulated by:

• Australian Securities and Investments Commission (ASIC)
• Cyprus Securities and Exchange Commission (CySEC)
• Seychelles Financial Services Authority (FSA)

Under the regulations set by ASIC and CySEC, leverage is limited to a maximum of 30:1 for major forex pairs. In contrast, clients registered with the FSA in Seychelles can enjoy leverage of up to 500:1. This increased leverage is especially attractive to seasoned traders looking for enhanced market exposure.

Plus500 operates under several regulatory bodies, including:

• Australian Securities and Investments Commission (ASIC)
• Financial Conduct Authority (FCA) in the UK
• Cyprus Securities and Exchange Commission (CySEC)
• Financial Markets Authority (FMA) in New Zealand
• Monetary Authority of Singapore (MAS)
• Financial Sector Conduct Authority (FSCA) in South Africa

In these jurisdictions, leverage is typically limited to 30:1 for major forex pairs and 20:1 for minor pairs. Traders registered under the FSA (Seychelles) branch can access higher leverage, up to 300:1. Traders who meet certain criteria, including maintaining a portfolio of at least €500,000 and demonstrating a substantial history of trading activity, may be eligible to qualify as professional clients. This status allows them to access higher levels of leverage.

While higher leverage can amplify potential profits, it also increases the risk of significant losses. Both brokers implement risk management tools, including margin call systems and negative balance protection, to help safeguard traders’ funds. It’s essential for traders to recognize that these protective measures may not completely safeguard them from significant losses, particularly in highly volatile markets.

In recent forex market developments, the Australian dollar (AUD) has experienced notable fluctuations. The Reserve Bank of Australia (RBA) has recently lowered interest rates by 25 basis points to 4.10%, marking its first reduction since the 2020 pandemic.Despite this cut, the RBA signaled caution regarding further reductions. Following the announcement, the AUD steadied near two-month highs, trading at $0.6351. Analysts anticipate potential further cuts in the coming months, despite the RBA’s cautious stance.

Traders concentrating on EUR, AUD, and USD pairs must keep a close watch on economic indicators and central bank policies, as these factors can profoundly influence trading strategies and market volatility.

Our Stronger Trust and Regulation Verdict

According to our team’s perspectives, Plus500 is having its moment in the spotlight due to their stronger trust and regulation.

Plus500 ReviewVisit Plus500

*Your capital is at risk ‘80% of retail CFD accounts lose money’

6. Top Product Range And CFD Markets – Plus500

A great trading experience includes tight spreads, fast execution, and a variety of markets. IC Markets and Plus500 provide diverse financial instruments like forex, commodities, indices, and cryptocurrencies, allowing traders to diversify portfolios. This review will evaluate their offerings to determine which broker best suits various trading strategies.

Plus500 offers over 2,800 CFD trading instruments, including cash and sector indices, commodities like Brent oil and gold, and cryptocurrencies such as Bitcoin and Ethereum. They provide CFDs on 1,800 shares from 20 markets, options, and ETFs for diverse portfolios. Recently, the EUR/USD pair gained slightly to 1.0450, while the AUD/USD fell below 0.6350 as the US Dollar strengthened. Traders should monitor these forex movements for strategic decisions.

IC Markets offers a range of CFD trading instruments, though slightly fewer than some competitors. Key offerings include:

Indices: 17 major indices (e.g., FTSE 100, S&P 200) with zero commissions.
Commodities: Over 20 CFDs in energies, precious metals, and soft commodities.
Cryptocurrencies: 10 options, including Bitcoin and Ethereum.
Bonds: 6 bonds with no commissions.
Futures: 4 global markets.
Shares CFDs: 2,100+ shares from major exchanges with specific fees.

In forex, EUR/USD shows modest gains around 1.0450 due to a weakening US Dollar, while AUD/USD stays near 0.6350 post a 25 basis point rate cut by the Reserve Bank of Australia. Traders must consider these factors and stay informed as market conditions can shift quickly.

Please note: the above CFDs are available to trade, yet the maximum leverage is capped. For example, you can trade major currency pairs with a maximum leverage of 30:1 under ASIC, FCA and CySEC regulations.

Our Top Product Range and CFD Markets Verdict

Evidently, Plus500 secures the top spot here thanks to their top product range and CFD Markets.

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*Your capital is at risk ‘80% of retail CFD accounts lose money’

7. Superior Educational Resources – IC Markets

Knowledge is important in forex trading. Quality educational resources enhance traders’ skills and confidence. From webinars to articles, continuous learning benefits all traders. This review examines IC Markets and Plus500’s educational support to help you choose the best broker for your trading needs.

Both IC Markets and Plus500 understand the vital role that educational resources play in empowering traders of all experience levels.

IC Markets:

• Educational Materials: Offers a comprehensive suite of resources, including webinars, video tutorials, and articles, catering to both beginners and advanced traders.
• Regular Updates: Maintains an updated blog featuring market analysis and news, helping traders stay informed about the latest market trends.

Plus500:

• User-Friendly Platform: Designed with simplicity in mind, making it accessible for beginners.
• Educational Content: Provides a range of video tutorials and a detailed FAQ section to address common trading questions.

Recent trends in the forex market show that the EUR/USD pair is trading below 1.0450, indicating a vulnerable Euro in anticipation of the upcoming Federal Open Market Committee (FOMC) minutes. Meanwhile, the AUD/USD pair remains bullish following an expected 25 basis point rate cut by the Reserve Bank of Australia (RBA) to 4.1%.

Both brokers deliver useful educational resources: IC Markets offers a wider array of materials, while Plus500 emphasizes user-friendly content. Together, they empower traders to navigate the forex market with enhanced confidence.

Our Superior Educational Resources Verdict

We can easily surmise that IC Markets dominates this arena owing it to their superior educational resources.

IC Markets ReviewVisit IC Markets

*Your capital is at risk ‘72.53% of retail CFD accounts lose money’

8. Superior Customer Service – IC Markets

Great customer service is crucial for a positive trading experience. Quick support from top forex brokers, available 24/7 via live chat, phone, and email, builds trader confidence. This review compares IC Markets and Plus500 on service quality, response times, and trader satisfaction to see which prioritizes traders best.

Every broker provides customer support via email and live chat around the clock throughout the week. Notably, IC Markets stands out by offering 24/7 phone support, while Plus500 does not provide any phone support at all.

IC Markets and Plus500 both focus on providing traders with vital educational resources and exceptional customer support.

Educational Resources:

• IC Markets: Offers a comprehensive suite of educational materials, including webinars, video tutorials, and articles, catering to both beginners and advanced traders.
• Plus500: Provides a range of educational resources, such as videos, e-books, and webinars, to support beginner and intermediate traders.

Customer Support:

• IC Markets: Features a live chat service accessible through their platform and website, offering prompt assistance for both simple and complex inquiries.
• Plus500: Offers a live chat feature and an integrated email system within their web portal, providing timely support, though it may be less equipped to handle more technical questions.

Both brokers provide unlimited demo accounts, enabling traders to refine their strategies without any restrictions. Recently, the EUR/USD pair has been trading below 1.0450, indicating a weak Euro as we approach the release of the Federal Open Market Committee (FOMC) minutes.

The AUD/USD pair continues to show strength following the expected 25 basis point rate cut by the Reserve Bank of Australia (RBA), bringing the rate down to 4.1%.

In summary, IC Markets stands out for its comprehensive educational resources and exceptional customer support. In contrast, Plus500 delivers a user-friendly platform along with sufficient educational content and support, though there is room for improvement in its technical assistance services.

IC Markets ReviewVisit IC Markets

*Your capital is at risk ‘72.53% of retail CFD accounts lose money’

9. Better Funding Options – IC Markets

Flexible funding options are crucial for forex trading accounts. Top brokers provide various methods like bank transfers, cards, e-wallets (PayPal, Skrill, Neteller), and cryptocurrencies, ideally with low or no fees. This allows traders to concentrate on trading. Quick, easy, and secure funding enhances the experience for deposits or withdrawals. This review compares IC Markets and Plus500 for the best funding options.

IC Markets and Plus500 have enhanced the trading experience for global users by offering a variety of convenient deposit and withdrawal options. IC Markets stands out with its extensive range, featuring bank transfers, credit/debit cards, and popular e-wallets such as PayPal, Skrill, and Neteller, ensuring flexibility for traders in various regions. Their commitment to rapid transaction processing significantly reduces downtime. On the other hand, Plus500 presents a more streamlined selection while still providing widely-used funding methods with efficient processing. Though both brokers prioritize cost-effective and user-friendly funding solutions, their strategies differ slightly. Let’s explore which platform delivers the superior funding experience for forex traders.

Here’s a table comparing the funding options of both brokers:

Our Better Funding Options Verdict

Based on our in-depth research, IC Markets is having its day in the sun on the account of their better funding options.

IC Markets ReviewVisit IC Markets

*Your capital is at risk ‘72.53% of retail CFD accounts lose money’

10. Lower Minimum Deposit – Plus500

A lower minimum deposit enhances accessibility in forex trading for beginners, allowing small investments to gain experience without significant risk. This flexibility helps traders explore the market before increasing investments. In our review of IC Markets and Plus500, we’ll analyze their deposit requirements and determine which broker offers the best balance of affordability and trading opportunities for your style.

When comparing IC Markets and Plus500, one important distinction is the minimum deposit requirement, where Plus500 stands out by offering a lower threshold of just $100. This makes Plus500 significantly more accessible for traders who may have limited initial capital to invest compared to IC Markets, which requires a minimum deposit of $200. It’s worth noting that both brokers enforce these minimum deposit limits globally, regardless of the payment method selected by the trader. Thus, the choice between these two brokers can heavily influence a trader’s ability to enter the market based on their available funds.

Here’s a table showcasing the brokers’ minimum deposit amount and their recommended minimum deposit:

Our Lower Minimum Deposit Verdict

Plus500 is on top of the world now by the reason of their lover minimum deposit.

Plus500 ReviewVisit Plus500

*Your capital is at risk ‘80% of retail CFD accounts lose money’

Is Plus500 or IC Markets The Best Broker?

IC Markets, clearly, takes the cake in almost all category because it consistently outperforms Plus500 in several key areas, offering traders a comprehensive and reliable trading experience.

The table below summarises the key information leading to this verdict:

Plus500: Best For Beginner Traders

Plus500 is better suited for beginner traders due to its user-friendly platform and lower minimum deposit requirement.

IC Markets: Best For Experienced Traders

IC Markets stands out as the preferred choice for experienced traders, offering advanced tools, competitive spreads, and a solid trading environment.