Written by ForexBrokers.com
In this head to head comparison of Plus500 vs iFOREX, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Plus500, founded in 2008, and iFOREX, established in 1996, are both well-known online brokers. While neither is a bank, Plus500 stands out as a publicly traded company, unlike iFOREX. In terms of regulatory standing, Plus500 holds an impressive number of six Tier-1 licenses, known for their high level of trust, and three Tier-2 licenses. This has culminated in an exceptional Trust Score of 99 by ForexBrokers.com, categorizing Plus500 as a highly trusted broker.
In comparison, iFOREX holds one Tier-1 license without any Tier-2 licenses, reflecting its ForexBrokers.com Trust Score of 75. This positions iFOREX within the average risk range according to the same ratings. For traders seeking a broker with a robust regulatory framework and higher trust score, Plus500 appears to be the more attractive choice.
| Feature |
Plus500
|
iFOREX
|
|---|---|---|
| Year Founded | 2008 | 1996 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 6 | 1 |
| Tier-2 Licenses | 3 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing Plus500 and iFOREX, Plus500 tends to have pricing that is slightly above the average within the industry, especially for active traders. While discounts aren't available for retail clients, Plus500 does offer cash rebates for those who qualify as Professional clients. In terms of spreads, Plus500 reports an average spread of 1.5 pips for the EUR/USD pair for April 2024, which is higher than the industry benchmark. On the rating scale, Plus500 achieves 4.0 stars, ranking 25th out of 62 brokers in the Commissions and Fees category according to ForexBrokers.com.
iFOREX does not provide specific average spread data, which can make a direct comparison of the trading costs challenging. This lack of transparency might influence its lower rating and overall perception in terms of value. iFOREX scores 3 stars for commissions and fees, placing it at 60th out of 62 brokers in the rankings by ForexBrokers.com, indicating higher potential costs compared to competitors.
| Feature |
Plus500
|
iFOREX
|
|---|---|---|
| Minimum Deposit | €100 | $100 |
| Average Spread EUR/USD - Standard | 1.5 | N/A |
| All-in Cost EUR/USD - Active | 1.5 | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing Plus500 and iFOREX, both platforms offer forex trading through CFDs, providing traders with the ability to engage in this popular market without owning the actual currency. Plus500 stands out with an impressive array of 5,500 tradeable symbols, overshadowing iFOREX's 750 symbols. This expanded selection includes 65 forex pairs, slightly fewer than iFOREX's 88 pairs. Additionally, Plus500 allows clients to purchase exchange-traded securities on both U.S. and international exchanges, a feature not supported by iFOREX.
Both brokers offer the ability to trade cryptocurrency derivatives, but not actual cryptocurrencies, nor do they offer copy trading. Plus500 garners a higher rating of 4.5 stars for its range of investments, whereas iFOREX holds a 3.5-star rating. In rankings by ForexBrokers.com, Plus500 is positioned at #24 for its investment offerings, while iFOREX is ranked at #41. Therefore, for those valuing a diverse selection of investment options, Plus500 is a stronger choice.
| Feature |
Plus500
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5500 | 750 |
| Forex Pairs (Total) | 65 | 88 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | No |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When comparing trading platforms and tools, Plus500 and iFOREX each provide a unique set of offerings that cater to different trader needs. Plus500 provides a web-based trading platform that includes a free virtual demo account, a feature not available with iFOREX. Both brokers offer proprietary platforms developed in-house, but neither supports desktop download trading platforms, MetaTrader options, or social trading features like copy trading. While their platform offerings are similar on several fronts, Plus500 edges out iFOREX with a 4.5-star rating for Trading Platforms and Tools, ranking 14th out of 62 brokers according to ForexBrokers.com.
In terms of charting tools, iFOREX offers slight advantages with the availability of 25 drawing tools compared to Plus500's 22, and the ability to trade directly from a stock chart. However, Plus500 offers more options for watch list customization with 10 columns, surpassing iFOREX’s 9 columns. Ultimately, while iFOREX may offer some additional features like direct trading from charts, Plus500’s higher rating and ranking indicate a more favorable user experience for trading platforms and tools overall.
| Feature |
Plus500
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | No | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 114 | 57 |
| Charting - Drawing Tools (Total) | 22 | 25 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 10 | 9 |
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When comparing the mobile trading apps of Plus500 and iFOREX, several key features stand out. Both platforms are available on iPhone and Android devices, making them accessible to a wide range of users. Plus500 takes the lead in features that enhance user experience and trading efficiency. It supports stock and forex price alerts, offers watchlist syncing between the mobile app and online account, and provides 110 technical studies for charting. Additionally, Plus500’s app allows users to draw trendlines and view multiple time frames for better market analysis. In contrast, iFOREX's app does not support price alerts or watchlist syncing and does not offer the ability to draw trendlines or view various time frames.
For traders looking for comprehensive features, Plus500 offers a more robust set of tools. It allows users to effortlessly create watchlists with real-time quotes, contributing to its 4.5-star rating for mobile trading apps. Meanwhile, iFOREX holds a 4-star rating. In terms of industry rankings, Plus500 is positioned at #14 out of 62 brokers for mobile trading apps, whereas iFOREX sits at #55, according to ForexBrokers.com. Overall, Plus500 provides a more feature-rich and highly-rated mobile trading experience compared to iFOREX.
| Feature |
Plus500
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 110 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | No | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
Both Plus500 and iFOREX provide daily market commentary, aiding traders in staying informed with the latest financial insights. However, neither offers forex news from prestigious sources like Bloomberg or Reuters, which might limit access to premium news content for their users. For those interested in technical analysis, both brokers offer tools from Trading Central, which can help in making informed trading decisions. Yet, neither Plus500 nor iFOREX collaborates with Autochartist or provides market research through TipRanks or Acuity Trading, meaning traders might look elsewhere for these specific resources.
When it comes to sentiment-based trading tools that display the ratio of long or short positions across different currency pairs and other instruments, both platforms offer this feature, providing an edge in understanding market trends. Additionally, they both supply an economic calendar highlighting global economic events, essential for keeping track of influential market changes. In terms of research quality, Plus500 garners a 4-star rating, ranking it 19th among 62 brokers, while iFOREX receives 3.5 stars, positioning it at 48th in the same category according to ForexBrokers.com. This suggests that Plus500 might offer slightly more comprehensive research tools compared to iFOREX.
| Feature |
Plus500
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | No |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources for beginners provided by online brokers Plus500 and iFOREX, Plus500 clearly stands out as a more resourceful option. Plus500 offers a wide range of educational materials, including more than ten articles, videos, and archived webinars focused primarily on forex and CFDs. It also holds monthly online webinars specifically for educational purposes and provides a searchable archive of these sessions, making it easy for users to revisit important topics. Plus500 caters to both beginners and advanced traders, with a suite of educational videos tailored to different skill levels. Although it lacks an investor dictionary, it still remarkably earns a commendable 4.0-star rating for education and ranks 31st out of 62 brokers according to ForexBrokers.com.
On the other hand, iFOREX offers fewer educational resources targeted at forex and CFDs, falling short in the quantity of educational articles and webinars when compared to Plus500. While it does provide at least ten beginner videos, it lacks advanced educational content for experienced traders. Moreover, iFOREX does not offer online webinars or a searchable archive of past sessions, which might limit ongoing learning opportunities. Despite having a good starting point with its beginner videos, iFOREX is rated 3.5 stars for education and ranks 53rd out of 62 brokers by ForexBrokers.com. This suggests that while iFOREX is a decent choice, beginners might find Plus500's varied and accessible educational resources more enriching for their learning journey in trading.
| Feature |
Plus500
|
iFOREX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | No | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that Plus500 is better than iFOREX. Plus500 finished with an overall rank of #14, while iFOREX finished with an overall rank of #52.
Plus500 is a trusted global brand that offers an easy-to-use trading platform for online traders, alongside access to a thorough selection of CFDs. Share trading is available, but only via its Plus500 Invest product offering.
| Feature |
Plus500
|
iFOREX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 75 |
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Both Plus500 and iFOREX provide the ability to trade cryptocurrency derivatives, but neither platform allows the purchase of actual cryptocurrencies.
Both Plus500 and iFOREX provide the ability to deposit or withdraw account funds using popular methods such as PayPal, Skrill, Visa, Mastercard, and bank wires, although neither platform offers ACH or SEPA transfers.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | Plus500 | iFOREX | |
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| Trust Score | 99 | 75 | |
| Winner | check_circle | ||
| Review | Plus500 Review |
| Broker Screenshots | Plus500 | iFOREX | |
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| Regulation | Plus500 | iFOREX | |
|---|---|---|---|
| Trust Score | 99 | 75 | |
| Year Founded | 2008 | 1996 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 6 | 1 | |
| Tier-2 Licenses | 3 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | Plus500 | iFOREX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Plus500 | iFOREX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Plus500 | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5500 | 750 | |
| Forex Pairs (Total) | 65 | 88 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | No | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | Plus500 | iFOREX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.5 | N/A | |
| All-in Cost EUR/USD - Active | 1.5 | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | Plus500 | iFOREX | |
|---|---|---|---|
| Minimum Deposit | €100 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Plus500 | iFOREX | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | No | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Plus500 | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 10 | 9 | |
| Charting - Indicators / Studies (Total) | 114 | 57 | |
| Charting - Drawing Tools (Total) | 22 | 25 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | Plus500 | iFOREX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 110 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | No | No | |
| Mobile Economic Calendar | Yes | No |
| Research | Plus500 | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Plus500 | iFOREX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | No | No |
| Major Forex Pairs | Plus500 | iFOREX | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | Plus500 Review |
| Overall | Plus500 | iFOREX | |
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| Trust Score | 99 | 75 | |
| Winner | check_circle | ||
| Review | Plus500 Review |
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