Plus500 vs Saxo Bank

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

Plus500 vs Saxo Comparison Table 2024
Plus500 Saxo
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4.1
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4
Plus500 is ranked #22 among CFD brokers. Saxo is ranked #84 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. Saxo Markets is a multi-award-winning trading brokerage, investment firm and regulated bank. With a huge 72,000+ trading instruments, plus investment products and managed portfolios, clients have no shortage of opportunities. The trusted brand also offers transparent pricing and top-tier regulatory protection from 10+ agencies including FINMA, FCA & ASIC.
81% of retail CFD accounts lose money. 66% of retail accounts lose 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
  • 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
  • Powerful proprietary trading platforms with comprehensive charting packages and advanced analysis tools
  • High-level research hub with curated market research, plus unique insights with 'Outrageous Predictions'
  • Excellent educational resources including podcasts, webinars and expert-led video insights
  • Access to comprehensive third-party analysis tools including TradingView and Updata
  • The ISA account is highly accessible and flexible with no entry or exit fees
  • Heavily regulated and trustworthy brand based in Switzerland
  • Low fees with premium account tiers
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
  • High funding requirements for the trading accounts
  • Access to Level 2 pricing requires a subscription
  • Clients from some jurisdictions not accepted including the US and Belgium
Awards
  • Best Overall Broker 2021 - DayTrading.com
  • Best Overall Broker 2020 - DayTrading.com
  • Best Overall Broker 2019 - DayTrading.com
FCA Regulated
Yes Yes
Instruments
CFDs on Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto Forex, CFDs, indices, shares, commodities, cryptocurrencies, futures, options, warrants, bonds, ETFs
Demo Account
Yes Yes
Minimum Deposit
$100 £500
Payment Methods
Minimum Trade
0.01 Lots Vary by asset
Regulator
FCA, ASIC, CySEC, DFSA, MAS, FSA, FSCA, FMA, EFSA DFSA, MAS, FCA, SFC
Mobile Apps
iOS, Android & Windows SaxoTraderGo (iOS, Android, Windows)
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.
iOS App Rating
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4.1
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Android App Rating
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4.3
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Margin Trading
Yes No
MetaTrader 4
No No
MetaTrader 5
No No
cTrader
No No
AlgoTrader
No No
OmniTrader
No No
TradingView
No Yes
Autochartist
No No
eSignal
No No
Trading Central
No No
STP Account
No No
ECN Account
No Yes
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
Yes No
Market Maker
Yes No
P2P Trading
No No
Spot Trading
No Yes
Auto Trading
No
Copy Trading
No No
Social Trading
No No
Trade Signals
Yes
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
Yes No
Custodial Account
No No
Guaranteed Stop Loss
Yes No
Inactivity Fee
$10
Islamic Account
Yes Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • AUD
  • ZAR
  • CZK
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • SEK
  • DKK
  • CHF
Commodities
  • Copper
  • Cotton
  • Coffee
  • Livestock
  • Sugar
  • Gasoline
  • Cocoa
  • Platinum
  • Soybeans
  • Oil
  • Gold
  • Silver
  • Corn
  • Aluminium
  • Palladium
  • Wheat
  • Gold
  • Silver
  • Natural Gas
  • Oil
  • Copper
  • Corn
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. Trade 8,900+ CFDs spanning forex, stocks, indices, commodities, options and bonds with powerful tools and signals.
Leverage
1:30 1:30
FTSE Spread
1.2 1.2 pts (Variable)
GBPUSD Spread<
1.1 0.7 (var)
Oil Spread
0.04 0.03
Stocks Spread
0.08 0.10% (subject to min commission)
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. Tier 1 liquidity on an impressive range of 189 currency pairs and spot metals, plus 130 forwards, from 0.4 pips.
Assets
60+ 40+
GBPUSD Spread
1.1 0.7 (varies by region)
EURUSD Spread
0.6 0.2 (varies by region)
EURGBP Spread
1.4 0.6 (varies by region)
Plus500 Saxo
Review
Review
81% of retail CFD accounts lose money. 66% of retail accounts lose money.
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