XM vs Plus500 Comparison for Investors in 2021

If you will prefer one of the Plus500 and XM brokers, check out this short review. And find out which one will best to your needs. First of all, let’s give general information about both brokers. Plus500 has been operating since 2008, XM has been operating since 2009, and both are regulated by various authorities. Plus500 is publicly traded but not the other, and both of these brokers are not banks.

Authorities Regulating XM And Plus500

XM

Australian Securities and Investments Commission (ASIC)

  • Financial Conduct Authority (FCA)
  • MIFID-ESMA
  • Cyprus Securities and Exchange Commission (CYSEC)

The top three of these financial authorities are among the most trusted authorities. CYSEC offers an average trust value.

Plus500

Australian Securities and Investments Commission (ASIC)

  • Monetary Authority of Singapore (MAS)
  • Financial Conduct Authority (FCA)
  • MIFID-ESMA
  • Cyprus Securities and Exchange Commission (CYSEC)
  • International Seabed Authority (ISA)
  • Financial Market Authority (FMA)

The first four of these regulators are among the most trusted authorities. CYSEC, ISA, and FMA offer average trust value.

Fees of XM And Plus500

Neither of these brokers takes deposit fees and withdraw fees. This is advantageous for users. But both take overnight-swap and inactivity fees. In contrast, while Plus500 receives a conversion fee, XM does not. As for Spreads, Plus500 is higher than XM.

While the minimum deposit is 5 dollars in XM broker, it is 100 euro in Plus500. Similarly, while the minimum withdraw is 50 euro on Plus500, it is $ 5 on the opposite side. You can transfer money to both broker accounts via the bank. However, XM does not support transfers via credit card or PayPal.

Services of XM And Plus500

There is no demo account service for beginners in both brokers. Plus, Plus500 is lacking in terms of educational and research materials. You can access the education center, webinars, tutorial videos, and many research materials via XM. However, there are none of them on the opposite side. In addition, you can reach Plus500’s customer support team via email and live chat, but you cannot get phone support.

The number of forex pairs in both brokers is similar. You can trade with both CFDs and ETFs. But while Plus500 can reach 14 cryptocurrencies, this number is 5 on the opposite side. Similarly, the number of stocks and indices you can find in Plus500 is much higher than other brokers. So if what you’re looking for is a variety of instruments, Plus500 will be more advantageous for you.

Finally, the following can be said about trading tools; number chart indicators are higher in Plus500. However, this broker does not have any number chart drawing tools.

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