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Do you want to know which is the better broker between Plus500 and SBI FXTRADE ?
In the table below, you can compare the features of Plus500 , SBI FXTRADE side by side to determine the best fit for your needs.
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of plus500, sbi-fxtrade lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Plus500 Review Summary of 10 Points | |
Founded | 2008 |
Headquarters | Israel |
Regulation | FCA, CySEC, ASIC, FMA, MAS |
Market Instruments | forex, cryptocurrencies, stocks, indices, commodities, and options |
Demo Account | Available |
Leverage | 1:30 (forex), 1:20 (indices), 1:10 (commodities), 1:2 (cryptocurrencies), 1:5 (stocks) |
EUR/USD Spread | 0.5 pips |
Trading Platforms | own proprietary trading platform (desktop, web, and mobile) |
Minimum deposit | $/€/£100 |
Customer Support | 24/7 email, WhatsApp and live chat |
Plus500 is an online trading platform that offers Contracts for Difference (CFDs) on a range of financial instruments including stocks, forex, commodities, cryptocurrencies, options, and indices. The platform was founded in 2008 and is headquartered in Israel, with additional offices in the UK, Cyprus, Australia, and Singapore. Plus500 is authorized and regulated by several financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, and the Australian Securities and Investments Commission (ASIC) in Australia. The platform is available in more than 50 countries and supports over 30 languages.
Plus500 is a CFD (Contracts for Difference) broker, which means that it offers trading on derivatives based on various financial assets without actually owning the underlying assets. Traders can speculate on the price movements of assets such as stocks, forex, commodities, cryptocurrencies, and indices without having to buy or sell the assets themselves. As a CFD broker, Plus500 allows traders to take both long and short positions, and offers leverage which can increase potential profits (and losses).
Plus500 is a good option for traders looking for a user-friendly platform to trade a wide range of markets and instruments, with competitive spreads and no commissions.
However, traders who require advanced charting tools, educational resources, and alternative trading platforms may need to consider other brokers.
Pros | Cons |
• Simple and easy-to-use trading platform | • Limited product offering |
• Commission-free trading | • Limited research and educational tools |
• Tight spreads | • No support for MetaTrader platform |
• Negative balance protection | • Limited customer support options |
• Regulated by reputable financial authorities | • No phone support |
• Free demo account | • Withdrawal fees for some payment methods |
• Limited trading tools and features |
Note that the information presented in the table is based on general observations and may vary depending on individual circumstances and preferences.
There are many alternative brokers to Plus500, and the best one for you will depend on your individual trading needs and preferences. Here are some popular alternatives to Plus500:
eToro: eToro is a social trading platform that allows you to copy the trades of other traders. It offers a wide range of trading instruments and has a user-friendly platform.
IG: IG is a well-established broker that offers a wide range of trading instruments, including forex, stocks, and commodities. It also offers a range of educational resources and has a user-friendly platform.
XM: XM is a popular broker that offers competitive spreads and a range of trading instruments, including forex, stocks, and commodities. It also offers a range of educational resources and has a user-friendly platform.
Pepperstone: Pepperstone is a popular broker that offers competitive spreads and a range of trading instruments, including forex, stocks, and commodities. It also offers a range of educational resources and has a user-friendly platform.
IC Markets: IC Markets is a popular broker that offers competitive spreads and a range of trading instruments, including forex, stocks, and commodities. It also offers a range of educational resources and has a user-friendly platform.
It's important to do your own research and compare the features and fees of different brokers before making a decision.
Plus500 is considered legitimate as it is authorized and regulated by several top-tier financial authorities, including the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC). Plus500 is also publicly traded on the London Stock Exchange, which provides additional transparency and accountability. The broker has been in operation since 2008 and has a large and established customer base. However, it is worth noting that no broker is entirely risk-free, and traders should always do their own due diligence before depositing funds with any broker.
Plus500 takes several measures to ensure the safety and protection of its clients, and the fact that it is a regulated broker provides additional reassurance to clients. Here is a table outlining how Plus500 protects its clients:
Protection Measure | Detail |
Segregated Funds | Client funds are kept separate from company funds |
Negative Balance Protection | Clients can't lose more than their account balance |
Risk Management Tools | Stop loss, limit order and other tools to help manage risk |
Account Verification | Rigorous account verification process to prevent fraud and unauthorized access |
SSL Encryption | Secure Socket Layer (SSL) encryption used for all communication and data transfer |
Regulatory Oversight | Regulated by multiple reputable financial authorities |
Investor Compensation Fund | Eligible clients may receive compensation in the event of insolvency or bankruptcy |
Note: This table provides a brief overview of Plus500's client protection measures and is not exhaustive. Clients should always refer to Plus500's official website and legal documents for complete and up-to-date information.
Overall, Plus500 appears to be a reliable broker with a strong emphasis on client protection. The company is regulated by multiple reputable financial authorities, has a robust risk management system in place, and offers negative balance protection to clients. Plus500 also uses encryption technology to protect clients' personal and financial information.
However, it is important to note that no broker is completely risk-free, and clients should always carefully consider their investment goals and risk tolerance before trading with any broker.
Plus500 offers a wide range of trading instruments including:
Forex pairs - major, minor, and exotic currency pairs
Stocks - CFDs on stocks from various international markets
Indices - CFDs on major stock indices like S&P 500, Nasdaq, FTSE 100, and more
Commodities - CFDs on precious metals, energies, and agricultural products
Cryptocurrencies - CFDs on popular digital currencies like Bitcoin, Ethereum, Litecoin, and more
Plus500 offers two types of accounts: a live trading account and a demo account.
The live trading account requires a minimum deposit of $100 and provides access to real-time market prices and trading in over 2,000 instruments. Traders can use leverage of up to 1:30 for retail clients and up to 1:300 for professional clients. The live account offers various features such as stop loss, take profit, and guaranteed stop loss orders. There are no commissions charged on trades. Instead, the company earns money through the bid-ask spread.
The demo account is free and allows traders to practice trading using virtual funds with access to the same trading instruments as the live account. It is a great way for traders to learn how the platform works, practice trading strategies, and get familiar with trading instruments before investing real money. The demo account is available for unlimited time and can be used to test new trading strategies without the risk of losing real money.
Plus500 offers leverage for different financial instruments. The maximum leverage offered depends on the instrument and the jurisdiction where the trader is located. In general, the leverage for forex trading can be up to 1:30 for retail clients in the European Union, and up to 1:300 for professional clients.
For other instruments, such as stocks, commodities, and cryptocurrencies, the leverage can vary between 1:5 and 1:30 for retail clients, and up to 1:300 for professional clients.
It's important to note that higher leverage can amplify both profits and losses, and traders should use it with caution and proper risk management.
Plus500 offers floating spreads on all trading instruments, meaning the spreads can fluctuate based on market conditions. The spreads can start from as low as 0.5 pips for major currency pairs like EUR/USD. Plus500 does not charge any commission on trades, and their revenue comes solely from the spreads offered.
Below is a comparison table about spreads and commissions charged by different brokers:
Broker | EUR/USD Spread | Commission |
Plus500 | 0.5 pips | No |
eToro | 1.0 pips | No |
IG | 0.75 pips | Yes |
XM | 1.6 pips | No |
Pepperstone | 0.16 pips | Yes |
IC Markets | 0.1 pips | Yes |
Note that spreads and commissions are subject to change and can vary depending on the account type, trading platform, and other factors. Traders should always check the broker's website for the most up-to-date and accurate information.
The Plus500 trading platform is an in-house developed web-based platform that can be accessed directly from the Plus500 website. The platform is user-friendly and intuitive, making it easy for traders to navigate and trade various financial instruments. It is also available in several languages.
The Plus500 trading platform offers several advanced features, including price alerts, real-time charts, and technical analysis tools. The platform also includes a demo account that traders can use to practice trading without risking any real money.
Overall, the Plus500 trading platform is well-designed and functional, but it may lack some of the advanced features found in other trading platforms. See the trading platform comparison table below:
Broker | Trading Platforms |
Plus500 | Plus500 WebTrader, Plus500 Windows Trader, Plus500 mobile app |
eToro | eToro WebTrader, eToro mobile app |
IG | IG Trading Platform, IG mobile app |
XM | MetaTrader 4, MetaTrader 5, XM WebTrader, XM mobile app |
Pepperstone | MetaTrader 4, MetaTrader 5, cTrader, Pepperstone mobile app |
IC Markets | MetaTrader 4, MetaTrader 5, cTrader, IC Markets mobile app |
Plus500 offers several deposit and withdrawal methods, including:
Credit/debit card (Visa or Mastercard)
PayPal
Bank transfer
Electronic wallets (Skrill, Neteller)
It's worth noting that the availability of certain payment methods may vary depending on your location.
Plus500 does not charge deposit or withdrawal fees, but some payment providers may charge transaction fees, which should be checked with the provider directly. Plus500 also requires users to withdraw funds using the same payment method that was used for depositing funds, up to the deposited amount. Any excess profits can be withdrawn using any other payment method supported by Plus500.
The minimum deposit requirement for Plus500 varies depending on the jurisdiction and the account type. In general, the minimum deposit ranges from $100 to $1,000. For example, in the UK, the minimum deposit is £100. In Australia, it is AUD 100, and in the EU, it is €100. It is recommended to check the specific minimum deposit requirement for your country and account type on the Plus500 website.
Plus500 | Most other | |
Minimum Deposit | $/€/£100 | $/€/£100 |
To withdraw funds from Plus500, you need to follow these steps:
Step 1: Log in to your Plus500 account and click on the “Funds Management” tab.
Step 2: Click on “Withdrawal” and select your preferred withdrawal method.
Step 3: Enter the amount you wish to withdraw and any additional information required for the withdrawal method you have chosen.
Step 4: Click on “Submit” to initiate the withdrawal process.
It is worth noting that Plus500 may require additional documentation or information to verify your identity before processing your withdrawal request. The processing time for withdrawals may also vary depending on your chosen withdrawal method.
Plus500 charges overnight funding fees for holding positions overnight. There are no fees for deposits and withdrawals, and inactivity fees only apply after three months of inactivity.
The overnight funding fee is a cost incurred for holding positions overnight and can be a credit or debit to your account depending on the direction of the position and the prevailing interest rates. The funding rate varies based on the instrument traded.
It is important to note that Plus500 may also charge additional fees for certain actions like guaranteed stop-loss orders or currency conversions.
Overall, while the fees for Plus500 are relatively low, traders should be aware of the potential for higher overnight funding fees, as well as any additional fees that may apply for certain actions.
See the fee comparison table below:
Broker | Deposit Fee | Withdrawal Fee | Inactivity Fee |
Plus500 | Free | $5-$10 | $10/month |
eToro | Free | $5 | $10/month |
IG | Free | Free | $18/month |
XM | Free | Free | $5/month |
Pepperstone | Free | Free | $0 |
IC Markets | Free | $3.5 | $0 |
Plus500 offers customer service through email, WhatsApp and live chat. The live chat is available 24/7, while email and WhatsApp support is available during business hours. Plus500 also provides an extensive FAQ section on their website, which covers many commonly asked questions about their services and trading platform.
You can also follow Plus500 on some social networks such as Facebook, Twitter and Instagram.
Overall, Plus500's customer service is considered to be adequate, with prompt responses and helpful support staff. However, some users have reported difficulty reaching support during busy times or experiencing long wait times for responses to their queries.
Pros | Cons |
• 24/7 customer support via live chat | • No phone support available |
• Multilingual support | • Sometimes response is not prompt |
• User-friendly help center and FAQ section |
Note: These pros and cons are subjective and may vary depending on the individual's experience with Plus500's customer service.
Plus500 provides an educational section on their website, which includes video tutorials, a demo account, and a FAQ section. The educational resources cover topics such as trading basics, technical analysis, and risk management. However, the educational content is relatively limited compared to some other brokers and may not be sufficient for beginners looking to learn about trading.
Overall, Plus500 is a reputable and reliable online broker that offers a user-friendly trading platform, competitive spreads, and a wide range of trading instruments. It has a strong regulatory framework and offers various measures to protect its clients. Plus500 also provides excellent customer service with a 24/7 support team available via live chat.
However, Plus500 does have some drawbacks, such as limited educational resources, lack of a dedicated account manager, and a relatively high inactivity fee. Additionally, the broker's trading platform may not be suitable for advanced traders who require advanced charting tools and features.
In summary, Plus500 is an excellent option for beginner traders who are looking for a straightforward and easy-to-use trading platform with a low minimum deposit requirement. It is also a good choice for experienced traders who prioritize a strong regulatory framework and reliable customer service over advanced trading features.
Q 1: | Is Plus500 regulated? |
A 1: | Yes. Plus500 is regulated by FCA, CySEC, ASIC, FMA, and MAS. |
Q 2: | Does Plus500 offer demo accounts? |
A 2: | Yes. |
Q 3: | Does Plus500 offer industry-standard MT4 & MT5? |
A 3: | No. Instead, Plus500 offers its own proprietary trading platform (desktop, web, and mobile). |
Q 4: | What is the minimum deposit for Plus500? |
A 4: | The minimum initial deposit to open an account is $/€/£100. |
Q 5: | Is Plus500 a good broker for beginners? |
A 5: | Yes. Plus500 is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions. Also, it offers demo accounts that allow traders to practice trading without risking any real money. |
Information | Details |
Company Name | SBI FXTRADE |
Registered Country/Area | Japan |
Regulation | Financial Services Agency, Japan |
Minimum Deposit | 1,000 yen for Quick Deposits |
Spreads | Narrow Spreads |
Trading Platforms | Desktop and Mobile |
Tradable Assets | Forex (34 currency pairs) |
Demo Account | Available |
Deposit & Withdrawal | Quick Deposits, Normal Deposits, Deposits to SBI Shinsei Bank |
Educational Resources | Official YouTube channel |
SBI FXTRADE is a Forex broker and a part of the SBI Group, a leading online financial services company in Japan. Its service allows users to engage in foreign exchange (FX) margin trading. The platform offers real-time market information and various analysis tools, which can assist both novices and experienced traders in their decision-making process.
The SBI FXTRADE platform boasts of features such as narrow spreads and 24-hour trading. It also offers a demo account option for practice. Additionally, there is a user-friendly interface which simplifies the process of FX trading and a mobile application for trading on the go. It is essential to remember that just like any other type of trading and investment, forex trading involves certain risks which should be thoroughly understood before participating.
SBI FXTRADE is a regulated broker under the jurisdiction of Japan. The platform is licensed as a Retail Forex License holder and is overseen by the Financial Services Agency of Japan. The license number is 関東財務局長(金商)第2635号 and the official licensed institution is SBI FX トレード株式会社. The license was effectively granted on 13th April 2012. However, there is no shared email address of the licensed institution. It's crucial to trade with a regulated broker as it provides a certain level of security and oversight.
Pros | Cons |
An extensive range of 34 currency pairs for trading | Certain deposit options involve fees |
Offers Quick deposits starting from 1,000 yen with no fees | Some deposit methods may not reflect immediately |
Regulated by the Financial Services Agency | Forex and other forms of trading always carry inherent risks |
Provides a range of educational resources, including a YouTube channel for learning and updates | For Normal deposits and some other services, transfer fees will be borne by the customer |
Allows 24-hour trading | |
User-friendly interface | |
Offers a demo account for practice | |
Provides both desktop and mobile trading platforms |
Pros:
1. Wide Range of Trading Instruments: SBI FXTRADE offers an extensive range of 34 currency pairs for trading, making it an attractive platform for those who wish to diversify their trading portfolio.
2. Quick Deposits: The platform provides a quick deposit feature that starts from 1,000 yen with no associated fees.
3. Regulation: SBI FXTRADE is regulated by the Financial Services Agency of Japan, adding a higher level of security and trustworthiness.
5. User-Friendly Interface: The platform has a user-friendly interface that simplifies the process of FX trading, making it easier for beginner traders to navigate.
6. Demo Account: SBI FXTRADE provides a demo account which allows users to practice trading strategies before investing real money.
7. 24-Hour Service: The platform facilitates 24-hour trading, enabling traders to take advantage of global forex market hours.
8. Mobile Trading: SBI FXTRADE offers mobile trading platforms for users to trade on the go.
Cons:
1. Deposit Fees: While quick deposits are free, other deposit methods such as the “normal deposit” method have associated transfer fees that will be borne by the customer.
2. Delay in Reflection of Deposits: Certain deposit methods may not immediately reflect the deposited amount in the trading account. If any error occurs, the reflection of deposit will have to wait till the confirmation of payment receipt.
3. Fees on Some Services: For certain services, such as normal deposits, transfer fees will be borne by the customer.
SBI FXTRADE provides its users with the opportunity to trade in a total of 34 currency pairs. This offering is considered to be one of the highest in the industry, giving traders a wide range of options when it comes to choosing their trading instruments.
It signifies that traders have the opportunity to capitalize on the movements of various currencies ranging from major currency pairs to minor and exotic ones. However, it's always important for traders to understand the risks associated with each trading instrument before investing.
The first step would be to navigate to the “Complete application in” button at the top right side of the page.
Please enter your email address using the submit button that is below the “apply for a personal account” sign. An account opening application URL will be sent to the email address you entered.
Enter your name, date of birth, and current address as in the identity verification document. The user is required to have a Japanese “MyNumber” identification in order to continue to after this step.
After the information has been examined, SBI FXTRADE will determine if the account creation process will be completed.
SBI FXTRADE offers two different methods of depositing funds: quick deposits and normal deposits.
Quick deposits start from 1,000 yen, with no associated fees. It's important to note that applications cannot be accepted during maintenance times performed by the broker or financial institutions.
SBI FXTRADE provides several methods for depositing and withdrawing funds.
For making deposits, there are three methods available:
Quick deposits: This method allows clients to deposit funds starting from 1,000 yen with no associated fees. However, deposition isn't guaranteed to reflect immediately - errors might delay the reflection of the deposit.
Normal deposits: This involves a money transfer to a created “Customer Dedicated Deposit Account”. Note that transfer fees are borne by the customer unless they are an SBI Shinsei Bank account holder depositing into the “SBI Shinsei Bank account exclusively for SBI FX Trade”.
Deposit to SBI Shinsei Bank: This method involves a money transfer to the dedicated SBI Shinsei Bank account for SBI FX Trade. There are no transfer fees and the customer has to specify their login ID and first and last name in kana in the remittance name.
The following provides more details on deposit confirmation and conditions:
Payments can be confirmed on the transaction screen.
Payments may not reflect immediately as they need to be received and confirmed by the bank. This process can take some time during busy periods.
Deposit processing is done three times a day at 9:00, 13:00, and 15:30.
Shinsei Bank deposits will be reflected in the FX account and need to be transferred to the savings FX account or the crypto asset CFD account by the user.
SBI FXTRADE offers an array of contact channels enabling seamless and efficient communication:
Direct Phone Line: Enabling immediate assistance, the firm can be directly contacted via their dedicated line at +81 0120-982-417.
Official Web Portal: An exhaustive array of resources could be found on their official website, SBI FXTRADE.
Social Media Presence: Connect with them on Twitter for real-time updates and interactions. They also maintain an active online presence on Facebook and exclusive content on their dedicated YouTube channel.
SBI FXTRADE provides several educational resources for its traders:
Official YouTube Channel: SBI FXTRADE maintains an official YouTube channel where they share informative video content. This includes market news, tutorials, trading strategies, and explanations on various aspects of Forex trading.
Today's Exchange News: This is presumably a feature where recent news and events affecting the exchange market are discussed, providing insights to help traders make informed decisions.
Crypto Asset Market Information: This channel is maintained by SBI VC Trade, which is also a part of the SBI Group. It provides information related to the crypto asset market.
Please note that Forex trading and trading in general can be risky, so it's essential to fully understand these risk factors and strategies before investing. Educational resources are a starting point, but should not be the only source of knowledge or strategy formulation. Real-time experience, trading practice, and individual research are also critical components of trading education.
SBI FXTRADE, a premium trading firm, offers multiple features tailored towards assisting traders succeed. Key offerings include diverse deposit methods (featuring Quick Deposits), a wide array of trading instruments, a user-friendly platform, and well-developed educational resources. However, potential users should be aware of potential deposit fees and delays, and inherent trading risks.
Q: What are some educational resources that SBI FXTRADE provides for traders?
A: SBI FXTRADE offers a variety of educational resources, including a YouTube channel filled with market news, trading strategies, and other trading-related insights, a feature for recent market news, programs providing insights into alternative currencies to USD/JPY.
Q: How can users contact SBI FXTRADE?
A: SBI FXTRADE can be reached through their phone number (+81 0120-982-417), their official website, or their social media accounts on Twitter, Facebook, and YouTube.
Q: What are the unique features of SBI FXTRADE?
A: SBI FXTRADE offers quick deposits without any fees starting from 1,000 yen and is regulated by the Financial Services Agency of Japan for enhanced security.
Q: What cautions should be taken while using SBI FXTRADE or similar trading platform?
A: As with all types of trading and investment, forex trading involves inherent risks. Users should ensure they understand these risks thoroughly before participating.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive plus500 and sbi-fxtrade are, we first considered common fees for standard accounts. On plus500, the average spread for the EUR/USD currency pair is -- pips, while on sbi-fxtrade the spread is --.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
plus500 is regulated by ASIC,FSA,CYSEC,FCA,FMA,MAS. sbi-fxtrade is regulated by FSA.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
plus500 provides trading platform including -- and trading variety including --. sbi-fxtrade provides trading platform including -- and trading variety including --.