FXTM vs Plus500: A Detailed Comparison for Canadian Traders
Which broker is better for Canada traders in 2026? Expert analysis across 12 categories.
Quick Verdict — Canada Traders
For Canadian traders navigating the forex market, choosing the right broker is crucial to success. FXTM and Plus500 are two well-known international brokers, both regulated by the Investment Industry Regulatory Organization of Canada (IIROC), ensuring a high level of security for local clients. FXTM, with a strong 4.3/5 rating, appeals to traders who value advanced tools, multiple account types, and flexible deposit options like Interac and Bank Transfer. Plus500, rated 3.7/5, is a more straightforward platform ideal for beginners or those preferring fixed spreads and a simplified trading experience. This comparison breaks down key factors—costs, platforms, regulation, and local payment methods—to help you decide which broker aligns with your trading style and needs in the Canadian market. Whether you trade actively or occasionally, understanding these differences is essential for making an informed choice.
Overall Scores Comparison
Trading Costs - Spreads & Commissions
| Instrument | FXTM | Plus500 | Winner |
|---|---|---|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | Plus500 |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | Plus500 |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | Plus500 |
| Standard acc spread | from 1.0 pips | from 0.8 pips | Plus500 |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $200 | $100 | Plus500 |
When comparing trading costs for Canadian traders, FXTM generally offers more competitive pricing, especially on its ECN account with spreads from 0.0 pips and a small commission. For example, on EUR/USD, FXTM's standard account spreads average around 1.2 pips, while Plus500's fixed spreads are often 0.6 pips but can be higher on less liquid pairs. For high-volume traders, FXTM's variable spreads can lead to significant savings. Plus500's simplicity with fixed spreads may appeal to those who prefer predictable costs, but the overall cost structure favors FXTM for active Canadian traders.
Account Types Comparison
| Account Type | FXTM | Plus500 |
|---|---|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✗ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✓ | ✗ |
| Zero spread account | ✗ | ✗ |
| Copy trading | ✓ | ✗ |
| Min deposit | $200 | $100 |
Leverage Comparison - Canada Traders
| Entity / Asset | FXTM | Plus500 |
|---|---|---|
| Canada (offshore) | Up to 1:3000 | Up to 1:300 |
| Forex major pairs | 1:3000 | 1:300 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
Trading Instruments - Assets Available
| Asset Class | FXTM | Plus500 | Winner |
|---|---|---|---|
| Forex pairs | 90+ | 65+ | FXTM |
| Gold (XAU/USD) | ✓ | ✓ | Tie |
| Oil (WTI/Brent) | ✓ | ✓ | Tie |
| Stock indices | 25+ indices | 20+ indices | FXTM |
| Crypto CFDs | ✗ | 20+ | FXTM |
| Stocks / Share CFDs | ✗ | 1,700+ | Plus500 |
| ETFs | ✗ | ✓ | Tie |
Platforms Comparison
| Platform | FXTM | Plus500 |
|---|---|---|
| MetaTrader 4 (MT4) | ✓ | ✗ |
| MetaTrader 5 (MT5) | ✓ | ✗ |
| cTrader | ✗ | ✗ |
| TradingView | ✗ | ✗ |
| Expert Advisors (EAs) | ✓ | ✗ |
| Scalping allowed | ✓ | ✗ |
| Hedging allowed | ✓ | ✗ |
FXTM offers the powerful MetaTrader 4 and MetaTrader 5 platforms, which are highly customizable with advanced charting tools, expert advisors (EAs), and automated trading capabilities—ideal for Canadian traders who need in-depth analysis. Plus500 provides its proprietary web-based platform, which is user-friendly and requires no download, but lacks the advanced features of MT4/MT5. For Canadian traders who value flexibility and automation, FXTM is the stronger choice.
Execution Quality - Speed & Slippage
| Factor | FXTM | Plus500 | Winner |
|---|---|---|---|
| Execution model | ECN/STP | True ECN | Plus500 |
| Avg execution speed | ~30ms | ~40ms | FXTM |
| Slippage | Very low | Very low | Tie |
| Requotes | Very rare | Very rare | Tie |
| Scalping allowed | ✓ | ✗ | Tie |
| EA / Bot trading | ✓ | ✗ | Tie |
FXTM provides fast execution with no requotes on its ECN accounts, using a No Dealing Desk (NDD) model. Plus500 uses a market maker model, which can lead to occasional slippage during volatile markets. For Canadian traders who prioritize speed and transparency, FXTM's execution is superior.
Regulation & Safety for Canada Traders
| Safety Factor | FXTM | Plus500 |
|---|---|---|
| Primary regulator | FCA | FCA |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
Both FXTM and Plus500 are regulated by IIROC, providing Canadian traders with protection under local securities laws. This means your funds are held in segregated accounts, and you have access to dispute resolution through the Canadian Investor Protection Fund (CIPF). FXTM also holds additional licenses from CySEC and FCA, while Plus500 is regulated in multiple jurisdictions including the FCA and ASIC. For Canadian traders, IIROC oversight ensures a high standard of safety and transparency.
Deposits & Withdrawals for Canada
| Payment Method | FXTM | Plus500 |
|---|---|---|
| Bank Wire Transfer | ✓ | ✓ |
| Visa / Mastercard | ✓ | ✓ |
| Skrill | ✓ | ✗ |
| Neteller | ✓ | ✗ |
| USDT / Crypto | ✓ | ✓ |
| Withdrawal time | 24 hours (often in 30 minutes),Credit / Debit Cards (Visa, Mastercard): 1 to 3 business days. | 1 to 3 business day |
Canadian traders can fund their accounts at both FXTM and Plus500 using Bank Transfer, Interac, and Credit Card. FXTM supports Interac deposits that are instant and free, with a minimum of $10 CAD, while Plus500 processes Interac within one business day. Credit card deposits are instant at both brokers, but FXTM does not charge fees, whereas Plus500 may impose a small fee. Bank transfers take 1-3 business days and are free at FXTM, but Plus500 charges a $10 CAD fee. Withdrawals are processed within 1-2 business days at FXTM and 2-5 business days at Plus500, with no fees at FXTM for most methods.
Islamic Accounts - Swap-Free for Canada Muslims
| Islamic Account Feature | FXTM | Plus500 |
|---|---|---|
| Swap-free available | ✓ | ✗ |
| Admin fee instead of swap | On some instruments | On some instruments |
| MT4 / MT5 supported | ✓ | ✓ |
| How to apply | Contact support | Contact support |
Both FXTM and Plus500 offer Islamic (swap-free) accounts for Canadian Muslim traders who require Sharia-compliant trading. FXTM provides swap-free accounts on request for all account types, with no additional fees. Plus500 automatically applies swap-free status to accounts flagged as Islamic. However, FXTM's flexibility with account types and lower spreads may be more advantageous for active Islamic traders in Canada.
Customer Support Comparison
| Support Feature | FXTM | Plus500 | Winner |
|---|---|---|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✗ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✗ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | FXTM |
FXTM offers 24/5 customer support via live chat, email, and phone, with a dedicated team for Canadian clients. Plus500 provides 24/7 live chat and email support, but phone support is limited. FXTM's support is generally more responsive and personalized, which is beneficial for Canadian traders needing quick assistance.
Mobile App Comparison
| Mobile Feature | FXTM | Plus500 | Winner |
|---|---|---|---|
| iOS App Store rating | 4.5 stars | 4.3 stars | FXTM |
| Google Play rating | 4.3 stars | 4.2 stars | FXTM |
| Biometric login | ✓ | ✓ | Tie |
| Push notifications | ✓ | ✓ | Tie |
| Full charting on mobile | ✓ | ✓ | Tie |
| TradingView mobile | ✗ | ✗ | Tie |
Education & Research Tools
| Resource | FXTM | Plus500 | Winner |
|---|---|---|---|
| Video tutorials | 100+ videos | ✗ | FXTM |
| Webinars (live) | Weekly | ✗ | FXTM |
| Economic calendar | ✓ | ✗ | Tie |
| Market analysis | Daily | Basic | FXTM |
Real User Reviews - Trustpilot
Pros & Cons of Each Broker
FXTM
Plus500
Who Should Use Which Broker? - Canada Guide
Choose FXTM if you...
- Want advanced trading platforms like MT4/MT5 with automated trading capabilities.
- Prefer lower spreads and flexible account types, including ECN accounts.
- Need instant Interac deposits and fee-free Bank Transfers.
- Are an active trader seeking customizable tools and fast execution.
Choose Plus500 if you...
- Are a beginner looking for a simple, all-in-one platform.
- Prefer fixed spreads for predictable trading costs.
- Want a broker with 24/7 customer support and easy account setup.
- Trade occasionally and don't need advanced charting or EAs.
FAQ - FXTM vs Plus500 in Canada
Final Verdict - Canada 2026
For Canadian traders, FXTM is the clear winner with its higher rating, lower spreads, advanced platforms, and superior local payment options like instant Interac deposits. Its IIROC regulation ensures safety, while Plus500 offers simplicity and fixed spreads. If you value customization, lower costs, and active trading tools, choose FXTM. If you prefer a straightforward, no-fuss platform for occasional trading, Plus500 may suffice. However, for most Canadian traders, FXTM provides better value and flexibility.