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Plus500 vs IG (UK)
Reviewed by Phillip Ashdown
This comparison is for informational purposes only and does not constitute investment advice. Affiliate links may be present.
Quick Verdict
IG is the stronger overall choice for most UK forex traders. It offers six trading platforms, 80+ forex pairs, spread betting, extensive education and a 2-year inactivity grace period. Plus500 is better for absolute beginners who want the simplest possible interface with no separate dealing commissions. However, Plus500's 3-month inactivity fee and lack of spread betting or MetaTrader support make IG the more versatile broker for the majority of traders.
Best for cost-sensitive traders: Plus500 — Spread-only pricing with no commissions on any account, no deposit or withdrawal fees, and no platform fees — simpler cost structure than IG for traders who don't need raw spread accounts.
Best for beginners: Plus500 — Clean single-platform experience with no commission complexity, making Plus500 easier to start with than IG's multi-platform ecosystem.
Best overall: IG — 15,000+ markets, six platforms, IG Academy education, ProRealTime and DMA access, and 50 years of UK history make IG the stronger choice for traders who want to grow beyond the basics.
vs
Plus500 and IG are both FCA-regulated brokers popular with UK traders, but they serve different audiences. Plus500 offers a single proprietary platform designed for ease of use with an intuitive interface. IG is one of the UK's most established brokers, offering multiple platforms, 80+ forex pairs, and extensive educational resources. This comparison examines the key differences between the two across pricing, platforms, regulation and trader suitability.
Plus500 vs IG: At a Glance
| Feature | Plus500 | IG |
|---|---|---|
| FCA Regulation | Yes (FRN 509909) | Yes (FRN 195355) |
| Minimum Deposit | £50 | £0 |
| Platforms Offered | Plus500 Platform | IG Web, MT4, MT5, ProRealTime, L2 Dealer, TradingView |
| Spread Betting Available | No | Yes |
| Commission | No separate dealing commission (other fees may apply) | None (standard account) |
| Inactivity Fee | $10/month after 3 months | £12/month after 2 years |
| Forex Pairs | 60+ | 80+ |
| Best For | Beginners seeking an intuitive platform interface | Traders wanting platform variety and educational depth |
Spreads and Fees
Typical spreads by pair
Plus500 does not charge separate dealing commissions on standard CFD trades, though other fees may apply. Spreads on EUR/USD start from 0.6 pips. The inactivity fee of $10 per month after just 3 months of no activity is a notable drawback for occasional traders.
Commission and account fees
IG offers spreads from 0.6 pips on EUR/USD with no commission on standard accounts. The inactivity fee is £12 per month but only applies after 2 years of no activity, giving traders a much longer grace period.
Overnight financing and inactivity costs
IG's longer inactivity grace period and tighter spreads on major pairs may benefit most traders. IG does not have a fixed minimum deposit, making it accessible alongside Plus500's low £50 entry point.
For a detailed breakdown of how spreads affect trading costs, see our guide to forex spreads explained.
| Fee | Plus500 | IG |
|---|---|---|
| EUR/USD min spread | 0.6 pips | 0.6 pips |
| GBP/USD min spread | typical ~0.9 pips | 0.9 pips |
| USD/JPY min spread | typical ~0.7 pips | 0.7 pips |
| FX commission | None | None on standard |
| Currency conversion fee | up to 0.7% | not published (varies) |
| Forex pairs available | 60+ | 80+ |
| Minimum deposit | £50 | £0 |
| Inactivity fee | $10/month after 3 months | £12/month after 2 years |
Platforms
Plus500's platform lineup
Plus500 offers a single proprietary web and mobile platform designed with a clear, intuitive interface. It does not support MetaTrader or any third-party platforms.
IG's platform lineup
IG offers six platforms: its own web platform, MetaTrader 4, MetaTrader 5, ProRealTime for advanced charting, L2 Dealer for direct market access, and TradingView. This range covers beginner to professional trading needs.
Plus500 suits traders who want an intuitive, easy-to-use platform. IG suits those who want platform choice and the ability to access advanced tools as their trading develops.
| Feature | Plus500 | IG |
|---|---|---|
| Proprietary platform | Yes (WebTrader) | Yes |
| MT4 | No | Yes |
| MT5 | No | Yes |
| cTrader | No | No |
| TradingView integration | No | Yes |
| ProRealTime | No | Yes |
| DMA | No | Yes (L2 Dealer) |
| Total instruments | 2,800+ | 15,000+ |
| FTSE listed | Yes (FTSE 250) | Yes (FTSE 100) |
Markets and Instruments
IG offers over 80 forex pairs alongside a wide range of indices, commodities, shares and options. Its breadth across asset classes is one of the widest available from any UK retail broker, and it is one of the few to offer options trading alongside CFDs and spread betting.
Plus500 offers 60+ forex pairs alongside indices, commodities, shares and ETFs via CFDs. The range is competitive but narrower than IG's, and Plus500 does not offer spread betting or options.
FCA Regulation and Safety
Regulatory status and client protections
Both brokers are authorised and regulated by the Financial Conduct Authority. Plus500UK Ltd operates under FRN 509909, and IG Markets operates under FRN 195355. Both parent companies are listed on the London Stock Exchange: Plus500 Ltd as a FTSE 250 constituent, and IG Group Holdings plc as a FTSE 100 constituent. Client funds at both brokers are held in segregated bank accounts, and retail clients benefit from negative balance protection. Eligible deposits are covered by the Financial Services Compensation Scheme up to £85,000 per person, per firm.
Company structure and history
Plus500 was founded in 2008 by six Technion alumni and is headquartered in the UK. Plus500 Ltd is listed on the London Stock Exchange as a FTSE 250 constituent. IG was founded in 1974 and operates through three FCA regulated entities: IG Markets (FRN 195355), IG Index (FRN 114059) and IG Trading and Investments (FRN 944492). Worth noting: Plus500UK was fined £205,128 by the FCA in 2012 for transaction reporting failures covering 2010-2011, though there have been no significant enforcement actions since.
Verify each broker's authorisation on the FCA Register: Plus500 on the FCA Register and IG on the FCA Register.
For more on what FCA regulation means for traders, see our guide to FCA regulation explained.
Both brokers provide FSCS protection for eligible UK retail clients up to £85,000 per person, per firm.
Who Should Choose Plus500?
- Absolute beginners seeking an intuitive and user-friendly platform interface
- Traders who prefer a clean, uncluttered interface
- UK traders who value strong regulatory credentials (FCA + LSE listed)
- Those who want trading with no separate dealing commission
- Casual traders looking for a straightforward demo account
Ready to open an account? Visit Plus500.
Who Should Choose IG?
- UK traders who want a well-established, FCA-regulated broker with a long track record
- Beginners looking for structured educational resources and a demo account to practise
- Intermediate traders who want multiple platform options including MT4 and ProRealTime
- Experienced traders requiring direct market access via L2 Dealer
- Spread bettors who want tax-efficient trading alongside CFDs on 80+ forex pairs
Ready to open an account? Visit IG.
Final Verdict
Plus500 and IG serve very different audiences. Plus500 is designed for beginners who want the most intuitive trading experience, with an easy-to-navigate platform and low minimum deposit. IG offers far more depth, with six platform options, 80+ forex pairs, extensive education, and spread betting. IG has no fixed minimum deposit and its wider feature set makes it better suited to traders who want to grow their skills over time. Plus500's 3-month inactivity fee threshold is a drawback compared to IG's 2-year grace period.
Read our full individual reviews for more detail: View Plus500 Review and View IG Review. You can also compare both brokers against the wider market on our best forex brokers UK page.
Frequently Asked Questions
Is Plus500 or IG cheaper for active traders?
Both brokers quote EUR/USD from 0.6 pips on standard pricing, and neither charges a separate commission on standard forex trades, so headline spreads on the most-traded pair are effectively level. The differentiators are elsewhere: IG offers a wider platform choice (six options including MT4, MT5, ProRealTime, L2 Dealer and TradingView) and a much longer 2-year inactivity grace period, versus Plus500's single proprietary platform and 3-month inactivity threshold. For active traders, those structural differences usually matter more than EUR/USD spread on a like-for-like basis.
Which has better trading platforms, Plus500 or IG?
IG offers considerably more platform choice. Six options including IG's own web platform, MT4, MT5, ProRealTime, L2 Dealer for direct market access, and TradingView give traders room to grow and options for different trading styles. Plus500 runs only its proprietary web and mobile platform, which is clean and easy to use but offers no MT4, MT5, cTrader or TradingView support. If you want industry-standard platforms or room to scale up, IG. If simplicity is your priority, Plus500.
Does Plus500 offer spread betting like IG?
No. IG offers both CFDs and spread betting, giving UK residents access to tax-efficient trading through IG Index. Plus500 offers CFDs only, meaning UK traders miss out on the Capital Gains Tax exemption that spread betting typically provides. For UK-resident traders operating at meaningful size, this is a real financial difference. If tax efficiency matters to you, IG is the clear pick on this specific point.
Which is better for beginners, Plus500 or IG?
Plus500 is often chosen by beginners for its stripped-back interface and single-platform simplicity. IG offers more depth, with IG Academy education content, multi-platform support and broader market access, which helps beginners who want room to grow rather than outgrow their first broker. If you want the most intuitive starting point and don't mind staying simple, Plus500. If you want a broker you can develop into as your knowledge grows, IG.
Are both Plus500 and IG FCA regulated?
Yes, both hold FCA authorisation. IG operates through three regulated entities, with IG Markets at FRN 195355 and IG Index at FRN 114059. Plus500UK Ltd holds FRN 509909. Both are listed on the London Stock Exchange and subject to public company disclosure requirements. Client funds at both are segregated and eligible for FSCS protection up to £85,000 per person. Worth knowing: Plus500UK was fined £205,128 by the FCA back in 2012 for transaction reporting failures, though there have been no significant enforcement actions since.
What's the minimum deposit at Plus500 vs IG?
Plus500's UK retail minimum is £50 by debit card. Apple Pay and Google Pay are accepted from as little as £0.01 in some flows, but the standard funded retail minimum is £50. IG has no fixed minimum by bank transfer, but requires £250 as a first deposit when paying by card or PayPal. In practice neither minimum should dictate your decision — start with an amount that reflects the position sizes you intend to trade. Depositing just enough margin for one trade leaves no cushion when markets move against you.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.