Exness Account Types: Designed for Flexibility
Exness offers a range of account types catering to different trader profiles, from beginners to high-volume professionals. Their offerings are generally categorised into Standard and Professional accounts.
Standard Accounts
Standard Account: This is the most popular account type, known for its accessibility and straightforward fee structure. It features commission-free trading on most instruments, with spreads being the primary cost. Minimum deposits are typically low, making it suitable for new traders.
Standard Cent Account: Ideal for beginners or those testing new strategies with smaller capital. Trades are executed in cents, allowing for reduced risk exposure while gaining real market experience. Spreads are similar to the Standard Account, and it's also commission-free.
Professional Accounts
Raw Spread Account: As the name suggests, this account offers raw, interbank spreads, which can be as low as 0 pips on major pairs. In return, a commission is charged per lot per side. This account is favoured by scalpers and high-frequency traders who prioritise tight spreads.
Zero Account: This account boasts zero spreads on the top 30 most popular instruments for 95% of the trading day. Similar to the Raw Spread account, a commission is applied, which can vary depending on the instrument. It's another strong option for those looking to minimise spread costs.
Pro Account: This account is designed for experienced traders, offering tight spreads with no commission on most instruments. It provides instant execution and is often seen as a hybrid between the Standard and Raw Spread accounts, balancing low spreads with commission-free trading on many assets.
Exness accounts generally support MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, offering a robust trading environment with advanced charting and analytical tools. They also provide various funding methods and typically offer high leverage, though UK residents are restricted by FCA regulations to 1:30 leverage on major FX pairs.
Plus500 Account Types: Simplicity and CFD Focus
Plus500 takes a different approach, simplifying its account structure significantly. It primarily offers one main account type: the Retail Client Account, with a demo account also available.
Retail Client Account
Plus500 operates predominantly as a CFD provider, and its platform is proprietary, meaning it doesn't use MT4 or MT5. The trading costs are primarily built into the spread, with no separate commission charged on trades. This straightforward pricing model appeals to many traders who prefer simplicity.
Key Features of Plus500:
* Proprietary Platform: Plus500's web-based and mobile platforms are intuitive and user-friendly, designed for ease of use rather than advanced customisation.
* Extensive CFD Instruments: They offer a vast array of CFDs across various asset classes, including forex, indices, commodities, shares, options, and cryptocurrencies (though crypto CFDs are banned for UK retail clients by the FCA).
* Guaranteed Stop-Loss (GSLO): A popular feature, the GSLO allows traders to guarantee a stop-loss level, protecting against gapping markets, albeit often with a wider spread.
* No Commission: All trading costs are integrated into the buy/sell spread.
Plus500 also provides a free, unlimited demo account, which is an excellent tool for practising strategies and familiarising oneself with their platform without financial risk.
Key Differences and Comparison Table
The fundamental difference lies in their approach to account types and trading platforms. Exness offers variety and third-party platform support, while Plus500 prioritises simplicity and a proprietary platform.
| Feature | Exness | Plus500 |
| :------------------ | :-------------------------------------- | :------------------------------------------ |
| Account Types | Standard, Standard Cent, Raw Spread, Zero, Pro | Retail Client Account (CFD only) |
| Spreads (EUR/USD)| Typical 0.7 pips (Standard), 0.0 pips (Raw Spread, Zero) | Typical 0.8 pips (built-in) |
| Spreads (GBP/USD)| Typical 1.0 pips (Standard), 0.3 pips (Raw Spread, Zero) | Typical 1.5 pips (built-in) |
| Spreads (XAU/USD)| Typical 2.0 pips (Standard), 1.0 pips (Raw Spread, Zero) | Typical 3.0 pips (built-in) |
| Commission | Yes (Raw Spread, Zero), No (Standard, Pro) | No (all costs in spread) |
| Min Deposit | Typically $10 - $200 (varies by account) | £100 |
| Regulators | FCA (UK), CySEC, FSCA, FSC, CMA, etc. | FCA (UK), CySEC, ASIC, MAS, FSA, etc. |
| Platforms | MetaTrader 4, MetaTrader 5, Exness Terminal | Plus500 WebTrader, Mobile Apps |
*Figures are typical, at time of writing — check broker site for live pricing.*
Verdict by Trader Type
For the Beginner Trader
* Exness: The Standard Cent account is an excellent choice for beginners due to its low risk and real market exposure. The Standard account also offers a straightforward commission-free structure.
* Plus500: Its intuitive proprietary platform and simple fee structure (spread-only) make it very accessible for new traders. The free demo account is also a significant plus.
For the Experienced Trader / Scalper
* Exness: The Raw Spread and Zero accounts are highly attractive for experienced traders and scalpers who demand the tightest possible spreads and are comfortable with commission-based trading. The availability of MT4/MT5 also offers advanced tools and EAs.
* Plus500: While offering a wide range of CFDs, the lack of third-party platform integration (like MT4/MT5) and its spread-only model might be less appealing for advanced strategies or those relying on EAs.
For the CFD Specialist
* Exness: Offers CFDs on various assets, but its strength lies more in its flexible account types and forex offerings.
* Plus500: This is Plus500's core strength. Its vast selection of CFD instruments and user-friendly platform make it a strong contender for traders focused solely on CFD trading (excluding crypto CFDs for UK clients).
For those who value regulated brokers and low costs
Both brokers are highly regulated in the UK by the FCA, offering a high level of client protection. For low costs, Exness with its Raw Spread and Zero accounts can offer tighter effective spreads for high-volume traders, while Plus500 offers simplicity with costs built into the spread. For a competitive offering, consider opening a Vantage account: Open a Vantage account
Conclusion
Choosing between Exness and Plus500 depends heavily on your trading priorities. If you value a wide array of account types, the flexibility of MT4/MT5 platforms, and the option for raw spreads with commissions, Exness might be your preferred choice. If simplicity, a proprietary platform, and a focus on a vast range of CFD instruments with spread-only costs appeal more, then Plus500 could be a better fit.
Remember, CFD trading carries significant risk and can result in the loss of your invested capital. Always ensure you fully understand the risks involved before trading.
Frequently Asked Questions (FAQs)
Q: Is Exness regulated in the UK?
A: Yes, Exness operates in the UK through Exness (UK) Ltd, which is authorised and regulated by the Financial Conduct Authority (FCA). This provides UK traders with a high level of client protection.
Q: Does Plus500 offer a demo account?
A: Yes, Plus500 provides a free, unlimited demo account. This allows traders to practice strategies and familiarise themselves with the platform using virtual funds without any financial risk.
Q: What is the main difference in pricing models between Exness and Plus500?
A: Exness offers both spread-only accounts (Standard, Pro) and commission-based accounts with raw spreads (Raw Spread, Zero). Plus500 primarily operates on a spread-only model, where all trading costs are integrated into the buy/sell spread with no separate commissions.
Q: Can I use MetaTrader 4 or 5 with Plus500?
A: No, Plus500 uses its own proprietary trading platform, the Plus500 WebTrader, and associated mobile applications. It does not support third-party platforms like MetaTrader 4 or 5.