XM vs Plus500 | We Compare Brokers
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XM vs Plus500 | Broker Comparison

Review By: Alan Little
Review Updated: 2022-08-01

Are you seeking a comparison of two very capable forex and CFD brokers, XM and Plus500? We are here to assist you with that very comparison, providing a recap of our in-depth reviews and commentary about how these two leaders in the forex industry stack up against one another. 

4.7
Rating

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Pros
  • Meta Trader MT4 and MT5 platforms
  • Excellent and engaging research materials
  • Negative Balance Protection
  • A global outlook – regulatory framework includes ASIC and CySec
  • Automated trading via MetaTrader
Cons
  • A mediocre number of markets to trade
  • Pricing at times wider than it might be
  • Not a publicly listed company
  • No Crypto offering
Pluse 500 Broker Review
4.1
Rating

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Pros
  • Heavily regulated in 11 jurisdictions, including FCA, ASIC and CySEC
  • Good transparency on fees, better than average on costs
  • Proprietary WebTrader platform and app have won many awards, user-friendly
  • More than 2,000 popular asset choices on CFD platform

 

Cons
  • Research and education materials could be more comprehensive
  • Customer service has no telephone access
  • No MT4 or MT5 trading platform products offered

 

Feature
XM
Plus500
Minimum deposit:
$5
100 units of USD, EUR, GBP
Withdrawal fee amount:
None
None
Inactivity fee charged (Y/N):
Y
Y
Max leverage:
30:1
1:30
Spread from:
0.0 pips
Varies
Number of instruments:
1,000+
2,000+
Year founded:
2009
2008
Time to open account:
1 business day
1-2 business days
Demo account provided (Y/N):
Y
Y
Countries of regulation:
Cyprus, UK
UK, Cyprus, Australia, New Zealand, South Africa, Seychelles, Estonia, Singapore, Israel, US, Japan
Products offered:
Forex, CFDs, Stocks, Commodities, Energies, Precious Metals, Equity Indices
CFDs in forex, indices, shares, commodities, options, ETFs, and cryptocurrencies in limited jurisdictions, some stocks only in EU
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What are the strengths of each broker? 

When comparing XM vs Plus500, both brokers rate highly when compared to the industry. On the positive side for XM, it supports MT4 and MT5, has generally lower fees and spreads than Plus500, a better-than-average research and education centre, and regulatory oversight from the FCA, ASIC and CySEC. Plus500 is listed on the London Stock Exchange, heavily regulated in 11 jurisdictions, offers an award-winning proprietary trading platform, and 2,000+ CFD tradable instruments, including cryptocurrencies. XM does not offer cryptocurrencies. 

Is one better suited to a certain trade type than the other? 

XM can appeal to a broader group of traders as it offers more than just CFD trading, but its product portfolio is only half as large as the one for Plus500.

Does one offer benefits that the other doesn’t and vice versa? 

When comparing Plus500 vs XM, Plus500 offers the security of being a publicly traded stock company on the LSE and being regulated in 11 jurisdictions, while XM generally offers lower fees, MT4, and better research and education resources.

Is one better suited to a new, mid-level or advanced trader? 

XM rates a little better for beginners, but both appeal to mid-level and advanced traders.

Is one’s trading platform better than the other’s? 

XM has MetaTrader platforms, but Plus500 does not, though it does have an award-winning proprietary CFD trading platform.

What are the fees like on both?

XM has below average fees, while Plus500 fees are roughly average. Both firms have inactivity fees that kick in after 90 days.