Plus500 vs IG

Plus500 or IG Index – which is better for UK traders 2024? Compare Plus500 and IG Index in this detailed breakdown of their platforms, features and fees.

Plus500 vs IG Index Comparison Table 2024
Plus500 IG Index
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4.1
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4.7
Plus500 is ranked #17 among CFD brokers. IG Index is ranked #36 among CFD brokers.
Review
Review
Established in 2008 and headquartered in Israel, Plus500 is a prominent brokerage that boasts over 25 million registered traders in over 50 countries. Specializing in CFD trading, the company offers an intuitive, proprietary platform and mobile app. It maintains competitive spreads and does not charge commissions or deposit or withdrawal fees. Plus500 also continues to shine as one of the most trusted brokers with licenses from reputable regulators, including the FCA, ASIC and CySEC. Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
82% of retail CFD accounts lose money. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Pros
  • Plus500 provides a specialized WebTrader platform designed explicitly for CFD trading, offering a clean and uncluttered interface
  • The broker offers commission-free trading on a diverse range of markets, minimizing additional fees while appealing to established traders
  • Plus500 has recently bolstered its suite of short-term trading products, including introducing VIX options with enhanced volatility and extended hours trading on 7 stock CFDs
  • You can utilize leverage while engaging in long or short positions, allowing for more strategic trading opportunities
  • The customer support team continue to provide reliable 24/7 support via email, live chat and WhatsApp
  • IG is amongst the best in terms of its range of instruments, which includes stocks, forex, indices, commodities, and cryptocurrencies, plus recently added US-listed futures and options, providing ample diversification opportunities.
  • The proprietary web-based platform continues to caters to traders of all levels, with advanced charting tools and real-time market data useful for trading, while IG has also added TradingView integration.
  • The IG app offers a superb mobile trading experience with a clean design that helped it secure Runner Up at our 'Best Trading App' award.
  • As a well-established broker, IG operates under strict regulatory guidelines in multiple jurisdictions, maintaining a high level of trust.
  • IG offers an extensive collection of professional and engaging educational resources, including webinars, articles, and analysis.
  • The ProRealTime advanced charting platform is free as long as certain modest monthly trading activity requirements are met.
Cons
  • Plus500’s lack of support for MetaTrader or cTrader charting tools might be a deal breaker for advanced traders looking for familiarity
  • Educational resources are limited compared to best-in-class brokers like eToro, impacting the learning curve for beginners
  • The absence of social trading means users can’t follow and replicate the trades of experienced traders
  • Compared to some competitors, especially IG, Plus500’s research and analysis tools are limited
  • Algo trading and scalping are not supported, which may deter some traders
  • Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges.
  • While there is negative balance protection in the UK and EU, there is no account protection or guaranteed stop losses for US clients.
  • IG has discontinued its swap-free account, reducing its appeal to Islamic traders.
  • Stock and CFD spreads still trail the cheapest brokers like CMC Markets based on tests.
  • IG applies an inactivity fee of $12 per month after 2 years, deterring casual investors.
Awards
  • Best Overall Broker 2021 - DayTrading.com
  • Best Overall Broker 2020 - DayTrading.com
  • Best Overall Broker 2019 - DayTrading.com
  • Best Customer Service 2022 - Online Money Awards
  • Best Spread Betting Provider 2022 - Online Money Awards
  • Best Platform for the Active Trader 2022 - ADVFN International Financial Awards
  • Best Multi Platform Provider 2022 - ADVFN International Financial Awards
  • Best Finance App 2022 - ADVFN International Financial Awards
FCA Regulated
Yes Yes
Instruments
CFDs on Forex, Stocks, Indices, Commodities, ETFs, Futures, Options CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
Demo Account
Yes Yes
Minimum Deposit
$100 $0
Payment Methods
Minimum Trade
Variable 0.01 Lots
Regulator
FCA, ASIC, CySEC, DFSA, MAS, FSA, FSCA, FMA, EFSA FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM
Mobile Apps
iOS, Android & Windows iOS & Android
Trading App

Plus500 have developed their mobile apps to match the WebTrader online platform . Secure and reliable, the app is among the best out there. Stop loss and limits are available, free alerts and a full range of markets and instruments are available. Visit the download page here.

IG offers a superb all-round trading app. One of the pioneers of mobile trading, the application has been developed and refined over many years, meaning it is now among the best trading apps. Quick response, user-friendly layout, access to full charting and a stable and reliable application. It also offers guaranteed stops – an important risk management tool not available on many apps we’ve tested.
iOS App Rating
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4.1
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4.6
Android App Rating
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4.3
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4
Margin Trading
Yes Yes
Margin Rate
2.5%
MetaTrader 4
No Yes
MetaTrader 5
No No
cTrader
No No
AlgoTrader
No No
OmniTrader
No No
TradingView
No Yes
Autochartist
No Yes
eSignal
No No
Trading Central
No Yes
STP Account
No No
ECN Account
No No
DMA Account
No Yes
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No Yes
Negative Balance Protection
Yes Yes
Market Maker
Yes Yes
P2P Trading
No No
Spot Trading
No Yes
Auto Trading
No Expert Advisors (EAs) on MetaTrader, build your own on ProRealTime
Copy Trading
No No
Social Trading
No No
Trade Signals
Yes
VPS Hosting
No Yes
Tournaments
No No
Demo Competitions
No No
Ethical Investing
Yes Yes
Custodial Account
No No
Guaranteed Stop Loss
Yes Yes
Inactivity Fee
$10 $12
Islamic Account
Yes No
Account Currencies
  • USD
  • EUR
  • GBP
  • AUD
  • ZAR
  • CZK
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • ZAR
  • SEK
  • DKK
  • CHF
  • HKD
  • SGD
Commodities
  • Copper
  • Cotton
  • Coffee
  • Livestock
  • Sugar
  • Gasoline
  • Cocoa
  • Platinum
  • Soybeans
  • Oil
  • Gold
  • Silver
  • Corn
  • Aluminium
  • Palladium
  • Wheat
  • Cattle
  • Lean Hogs
  • Gold
  • Copper
  • Oil
  • Palladium
  • Silver
  • Sugar
  • Coffee
  • Wheat
  • Natural Gas
  • Soybeans
  • Orange Juice
  • Nickel
  • Steel
  • Iron
  • Precious Metals
  • Aluminium
  • Lithium
  • Cannabis
  • Lean Hogs
  • Cattle
CFD
Plus500 presents commission-free CFDs encompassing a vast array of markets, spanning currencies, stocks, indices, and commodities. You can engage in long or short positions on popular assets, benefiting from adaptable leverage without encountering any concealed fees. IG offers a huge selection of 17,000+ CFDs, providing more trading opportunities than most CFD brokers. Traders can go long or short on popular markets like stocks, currencies, commodities and cryptos, while custom price alerts and the IG Academy continue to enhance the trading experience.
Leverage
1:30 1:30 (Retail), 1:222 (Pro)
FTSE Spread
Dynamic 1.0
GBPUSD Spread<
Dynamic 0.9
Oil Spread
Dynamic 2.8
Stocks Spread
Dynamic 0.02
Forex
Plus500 provides forex trading through CFDs, featuring narrow spreads across an impressive selection of over 60 currency pairs. During testing, spreads came in as tight as 0.6 pips on the EUR/USD, which is notably lower than many alternatives. IG offers an above-average suite of 80+ currency pairs on its proprietary web platform, mobile app or MetaTrader 4, with more advanced charts and forex analysis tools available on the ProRealTime software. Forex spreads are competitive based on tests, starting from 0.1 pips on majors like the EUR/USD.
Assets
60+ 80+
GBPUSD Spread
Dynamic 0.9
EURUSD Spread
Dynamic 0.8
EURGBP Spread
Dynamic 0.9
Currency Indices
  • USD
Plus500 IG Index
Review
Review
82% of retail CFD accounts lose money. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
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