The competition between high-end brokers is extremely tight, which is why traders sometimes have a difficult time choosing one broker over another.
So here, we shall see eToro and Plus500 go head to head and help you decide which you would rather sign up with.
eToro vs. Plus500
The truth is that both of these brokers are awesome. They’ve been around for some time. The both have millions of active traders.
Let’s get right into it and compare eToro to Plus500:
When signing up with eToro, you will be presented with just two types of accounts, the demo account, and the live account.
The leverage afforded by the live account maxes out at 1:300 and spreads are 3 pips, fixed, a bit too high for some traders. eToro also has a swap-free account available for Muslim traders.
- The initial deposit is $200 with eToro. That can be a bit pricey for many traders.
- The withdrawal process with eToro does take a rather long time, scalping is not allowed, and the brokers services are entirely off limits to US-based traders.
eToro’s trading platform is one of the most comprehensive in the world. It is an all-inclusive platform that is also highly intuitive and easy to use. It is stacked full of important information such as data charts, technical analysis and more. The platform has different versions to suit your desktop, web browser, and mobile devices.
eToro is licensed and regulated by at least three of the world’s leading financial authorities, including the ASIC, FCA, and CySEC. Thus, you can be assured it’s not a scam. It also offers fair trading conditions to all traders.
Like eToro, Plus500 also offers its users a single live account and a demo account. Maximum leverage is slightly lower at 1:200. So are the spreads which are 2 pips, fixed.
- It does not offer the MT4 platform or an automated trading platform, and its spreads are fixed.
- You cannot withdraw any cryptocurrency. You have to convert it back to USD, EUR etc.
Another similarity with eToro is that Plus500 also offers just a single trading platform to play on. It is available in over 30 languages and has versions which are compatible with desktops, the web, and mobile devices. However, users will not be able to access the favored MT4 platform.
The reputation of Plus500 rests heavily on its regulation under different global financial agencies including CySEC, ASIC, FCA, ISA, MAS, and FSB. Any broker would have to offer highly efficient and transparent services to be approved by this many authorities.
As you can see, the two brokers are quite evenly matched. What you can do is to compare how well their operations comply with your favored trading strategies. Each broker may tick most of the general criteria boxes. But when it comes specific trading requirements, you are likely to pick out a clear winner.