FxPro vs Plus500 for Australia Traders (2026)

Cost is critical for Australian traders, especially those trading frequently. FxPro generally offers lower spreads than Plus500 across major forex pairs and indices. On FxPro's Raw account, spreads on EUR/USD start from 0.6 pips, while Plus500's spreads average 1.0-1.8 pips. For volume traders, this difference compounds significantly. Plus500 charges no commission but builds costs into wider spreads, making it less competitive for high-frequency scalping. FxPro also offers commission-based accounts for tighter raw spreads, which suits active Australian traders. Both brokers have no deposit or withdrawal fees for AUD transactions via BPAY, POLi, or Bank Transfer.

Australian traders value platform flexibility, and FxPro leads here with MetaTrader 4, MetaTrader 5, cTrader, and its own FxPro Edge platform. This multi-platform support allows custom indicators, automated trading via Expert Advisors (EAs), and advanced charting. Plus500 offers only its proprietary web-based platform, which is user-friendly but lacks customisation and third-party tools. For experienced traders who rely on EAs or technical analysis, FxPro is the better choice. Plus500's platform is simpler and faster to learn, but may feel limiting for advanced strategies.

FxPro uses No Dealing Desk (NDD) execution with low latency, offering fast order fills suitable for scalping and news trading. Plus500 operates a market maker model, which can lead to slightly slower execution and potential requotes during volatile markets. For Australian traders who prioritise speed and minimal slippage, FxPro's execution quality is superior. Both brokers offer negative balance protection under ASIC rules.

Both FxPro and Plus500 are regulated by ASIC (Australian Securities and Investments Commission), ensuring strict client money segregation, leverage caps (maximum 1:30 for forex), and negative balance protection. FxPro holds AFSL 391441, while Plus500 holds AFSL 417727. For Australian traders, this means both brokers comply with local laws and offer a degree of safety. However, FxPro also holds additional licences from the FCA (UK) and CySEC, providing extra oversight for international operations. Plus500 is listed on the London Stock Exchange, adding corporate transparency. Both are considered safe for Australian clients.

Australian traders benefit from multiple local deposit methods at both brokers. FxPro accepts BPAY, POLi, Bank Transfer, and Credit Card (Visa/Mastercard) with no deposit fees and AUD accounts. Withdrawals are processed via Bank Transfer and Credit Card, typically taking 1-3 business days. Plus500 also supports BPAY, POLi, Bank Transfer, and Credit Card, but may charge a 1-2% fee on credit card deposits. Withdrawals at Plus500 are free and processed within 1-2 days. For frequent depositors, FxPro's fee-free structure is more cost-effective. Both brokers offer instant deposits via POLi and BPAY, which is ideal for active traders.

Muslim traders in Australia can access swap-free Islamic accounts at both FxPro and Plus500. FxPro provides dedicated Islamic accounts with no overnight interest on forex and metals, available upon request. Plus500 also offers a swap-free option for clients who request it, but it may not be available on all instruments. Both brokers comply with ASIC regulations and do not charge additional fees for Islamic accounts. For Australian Muslims, FxPro's more transparent policy and wider instrument coverage make it a slightly better choice, but both are viable options.

FxPro offers 24/5 multilingual customer support via live chat, email, and phone, with Australian-specific phone numbers and local business hours. Plus500 provides 24/7 live chat and email support, but lacks phone support in Australia. For Australian traders needing immediate assistance during local trading hours, FxPro's phone support is a clear advantage. Both brokers have extensive FAQ sections on their websites.