IG vs Plus500: Australia Trader Comparison 2026
Which broker is better for Australia traders in 2026? Expert analysis across 12 categories.
Quick Verdict — Australia Traders
When comparing IG vs Plus500 for Australia traders in 2026, the choice depends on your trading experience and needs. IG, scoring 4.2/5, is a top-tier broker with over 45 years of market presence, offering advanced platforms like ProRealTime and MetaTrader 4, plus access to over 17,000 markets. Plus500, scoring 3.7/5, is a user-friendly CFD broker with a proprietary platform ideal for retail traders. Both are regulated by ASIC, ensuring strict adherence to Australian financial laws, including leverage caps of 30:1 and negative balance protection. For Australian traders, local payment methods like BPAY, POLi, and Bank Transfer are supported by both brokers, making deposits and withdrawals seamless. IG stands out for its comprehensive research tools and educational resources, while Plus500 appeals with its simplicity and low minimum deposit. This comparison focuses on key factors for Australian traders: costs, regulation, platforms, and local support.
Overall Scores Comparison
Trading Costs - Spreads & Commissions
| Instrument | IG | 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 | $0 | $100 | IG |
For Australian traders, trading costs are a critical factor. IG offers competitive spreads, with EUR/USD from 0.6 pips on its raw spread account and zero commissions on standard accounts. Plus500 uses a spread-only model, with EUR/USD spreads averaging 1.2 pips. For high-volume traders in Australia, IG's tighter spreads can significantly reduce costs, especially when trading AUD/USD or major indices. Plus500's wider spreads are offset by no commission fees, making it suitable for smaller trades. Swap rates also differ: IG's overnight financing rates are transparent, while Plus500's rates are included in the spread. Australian traders should consider their trading frequency and volume to choose the most cost-effective broker.
Account Types Comparison
| Account Type | IG | Plus500 |
|---|---|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✗ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✗ | ✗ |
| Zero spread account | ✗ | ✗ |
| Copy trading | ✗ | ✗ |
| Min deposit | $0 | $100 |
Leverage Comparison - Australia Traders
| Entity / Asset | IG | Plus500 |
|---|---|---|
| Australia (offshore) | Up to 1:30 | Up to 1:300 |
| Forex major pairs | 1:30 | 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 | IG | Plus500 | Winner |
|---|---|---|---|
| Forex pairs | 90+ | 65+ | IG |
| Gold (XAU/USD) | ✓ | ✓ | Tie |
| Oil (WTI/Brent) | ✓ | ✓ | Tie |
| Stock indices | 25+ indices | 20+ indices | IG |
| Crypto CFDs | 30+ | 20+ | IG |
| Stocks / Share CFDs | 1,000+ | 1,700+ | Plus500 |
| ETFs | ✓ | ✓ | Tie |
Platforms Comparison
| Platform | IG | Plus500 |
|---|---|---|
| MetaTrader 4 (MT4) | ✓ | ✗ |
| MetaTrader 5 (MT5) | ✓ | ✗ |
| cTrader | ✗ | ✗ |
| TradingView | ✓ | ✗ |
| Expert Advisors (EAs) | ✓ | ✗ |
| Scalping allowed | ✓ | ✗ |
| Hedging allowed | ✓ | ✗ |
IG provides Australian traders with multiple platform options, including its award-winning web platform, MetaTrader 4, and ProRealTime. These platforms offer advanced charting, automated trading, and over 100 technical indicators. Plus500's proprietary platform is intuitive and mobile-friendly, with a clean interface but limited customization. For Australian traders who need fast execution and advanced analysis, IG's platform suite is superior. Plus500's platform is ideal for beginners or traders on the go, offering a simple trading experience. Both platforms are available in English and support Australian trading hours, but IG's integration with local data feeds gives it an edge for active traders.
Execution Quality - Speed & Slippage
| Factor | IG | Plus500 | Winner |
|---|---|---|---|
| Execution model | ECN/STP | True ECN | Plus500 |
| Avg execution speed | ~30ms | ~40ms | IG |
| Slippage | Very low | Very low | Tie |
| Requotes | Very rare | Very rare | Tie |
| Scalping allowed | ✓ | ✗ | Tie |
| EA / Bot trading | ✓ | ✗ | Tie |
IG offers fast execution with an average order execution speed of under 30 milliseconds, using its proprietary technology and multiple liquidity providers. Plus500 also provides reliable execution but uses a dealing desk model, which may result in requotes during volatile markets. For Australian traders trading during the Asian session, IG's execution is more consistent, especially for major forex pairs like AUD/USD. Plus500's execution is adequate for retail traders but may not suit high-frequency scalpers. Both brokers offer negative balance protection, ensuring Australian traders do not lose more than their deposit.
Regulation & Safety for Australia Traders
| Safety Factor | IG | Plus500 |
|---|---|---|
| Primary regulator | FCA | FCA |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
Both IG and Plus500 are regulated by ASIC, the Australian Securities and Investments Commission, ensuring strict compliance with local financial laws. IG holds an AFS license (number 220440) and is a publicly traded company on the London Stock Exchange, providing additional transparency. Plus500 holds an AFS license (number 417727) and is also publicly listed. For Australian traders, ASIC regulation means client funds are held in segregated accounts, and leverage is capped at 30:1 for retail clients. IG also offers negative balance protection, while Plus500 provides similar protection. Both brokers participate in the Australian Financial Complaints Authority (AFCA) scheme, giving Australian traders access to dispute resolution. This regulatory framework ensures a high level of security for Australian traders.
Deposits & Withdrawals for Australia
| Payment Method | IG | Plus500 |
|---|---|---|
| Bank Wire Transfer | ✓ | ✓ |
| Visa / Mastercard | ✓ | ✓ |
| Skrill | ✗ | ✗ |
| Neteller | ✗ | ✗ |
| USDT / Crypto | ✓ | ✓ |
| Withdrawal time | 1 to 5 business days | 1 to 3 business day |
Australian traders have convenient funding options at both IG and Plus500. Both brokers accept BPAY, POLi, Bank Transfer, and Credit Card (Visa/Mastercard). IG also supports PayPal and Neteller. Deposits via BPAY and POLi are typically free and processed instantly, while Bank Transfers may take 1-2 business days. Credit card deposits are instant but may incur a small fee. Minimum deposits: IG requires $250 AUD, Plus500 requires $100 AUD. Withdrawals are processed via Bank Transfer to Australian accounts, usually within 1-3 business days. IG offers free withdrawals, while Plus500 charges a small fee for frequent withdrawals. Both brokers require verification documents for first-time withdrawals, ensuring compliance with Australian anti-money laundering laws. POLi and BPAY are particularly popular among Australian traders for their speed and low cost.
Islamic Accounts - Swap-Free for Australia Muslims
| Islamic Account Feature | IG | 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 IG and Plus500 offer Islamic (swap-free) accounts for Australian Muslim traders who require Sharia-compliant trading. IG provides Islamic accounts with no swap or rollover interest on overnight positions, applicable to forex and CFD trading. Plus500 automatically applies swap-free status to accounts flagged as Islamic, with no additional charges. Both brokers require a declaration of faith or proof of residence in a Muslim-majority country. For Australian traders, Islamic accounts are available on request and do not affect spreads or commissions. IG's Islamic account is available on its standard account, while Plus500's version is automatic upon account setup. Both comply with ASIC regulations, ensuring Australian Muslim traders can trade without interest-based charges.
Customer Support Comparison
| Support Feature | IG | Plus500 | Winner |
|---|---|---|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✗ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✗ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | IG |
IG offers Australian traders 24/7 customer support via phone, email, and live chat, with a dedicated Australian phone line (1800 601 799) and local office hours. Plus500 provides 24/7 live chat and email support but lacks phone support for Australian clients. IG's support team is more responsive and knowledgeable for complex queries, while Plus500's support is efficient for basic issues. Both brokers have extensive FAQ sections on their Australian websites. For Australian traders requiring immediate assistance, IG's phone support is a significant advantage.
Mobile App Comparison
| Mobile Feature | IG | Plus500 | Winner |
|---|---|---|---|
| iOS App Store rating | 4.5 stars | 4.3 stars | IG |
| Google Play rating | 4.3 stars | 4.2 stars | IG |
| Biometric login | ✓ | ✓ | Tie |
| Push notifications | ✓ | ✓ | Tie |
| Full charting on mobile | ✓ | ✓ | Tie |
| TradingView mobile | ✓ | ✗ | IG |
Education & Research Tools
| Resource | IG | Plus500 | Winner |
|---|---|---|---|
| Video tutorials | 100+ videos | ✗ | IG |
| Webinars (live) | Weekly | ✗ | IG |
| Economic calendar | ✓ | ✗ | Tie |
| Market analysis | Daily | Basic | IG |
Real User Reviews - Trustpilot
Pros & Cons of Each Broker
IG
Plus500
Who Should Use Which Broker? - Australia Guide
Choose IG if you...
- Are an experienced trader needing advanced charting and analysis tools like ProRealTime or MetaTrader 4.
- Trade high volumes and benefit from tighter spreads on major forex pairs and indices.
- Value comprehensive research, daily market analysis, and educational resources tailored to Australian markets.
- Prefer phone support and a dedicated Australian client service team for complex queries.
Choose Plus500 if you...
- Are a beginner or retail trader seeking a simple, intuitive trading platform.
- Want a low minimum deposit ($100 AUD) and easy account setup with instant deposits via POLi or BPAY.
- Prefer a commission-free, spread-only pricing model for smaller trades.
- Trade on mobile devices frequently and need a streamlined, user-friendly app.
FAQ - IG vs Plus500 in Australia
Final Verdict - Australia 2026
For Australian traders, IG (4.2/5) is the superior choice for experienced traders seeking advanced platforms, tighter spreads, and comprehensive research tools. Its ASIC regulation, support for local payment methods like BPAY and POLi, and dedicated Australian phone support make it a top-tier broker. Plus500 (3.7/5) is a solid option for retail traders who prioritize simplicity, low minimum deposits, and a user-friendly mobile app. Both brokers are ASIC-regulated, ensuring client fund security and compliance with Australian laws. Ultimately, IG wins for active traders who need depth and control, while Plus500 suits those who value ease of use. Australian traders can deposit via Bank Transfer, Credit Card, POLi, or BPAY at both brokers, but IG's wider platform selection and lower spreads give it the edge for serious trading in 2026.