IG vs Plus500: New Zealand Broker Comparison 2026
Which broker is better for New Zealand traders in 2026? Expert analysis across 12 categories.
Quick Verdict — New Zealand Traders
New Zealand retail traders seeking a reliable forex and CFD broker have two prominent options: IG and Plus500. Both are regulated by the local financial regulator, ensuring a high level of security for Kiwi investors. IG, with a 4.2/5 Trustpilot score, is known for its advanced trading tools, extensive market research, and competitive spreads, making it ideal for active traders. Plus500, scoring 3.7/5, offers a streamlined, user-friendly platform with low minimum deposits and a focus on simplicity. This comparison covers key factors for New Zealand traders, including spreads, platforms, regulation, and local payment methods like Bank Transfer, Skrill, Neteller, and USDT TRC20. Whether you’re a beginner or experienced trader, understanding these differences will help you choose the right broker for your trading style in the New Zealand market.
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 |
When comparing trading costs for New Zealand traders, IG typically offers tighter spreads on major forex pairs, with average spreads from 0.6 pips on EUR/USD and NZD/USD. Plus500 spreads average 0.8-1.2 pips on similar pairs, which can add up for high-frequency traders. Both brokers charge no commission on standard accounts, but IG’s variable spreads are generally lower. For New Zealand traders trading volumes of 10+ lots per month, IG’s cost advantage becomes significant. Plus500’s fixed spreads provide predictability but may be less competitive during volatile markets. Always check current spreads on your preferred instruments.
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 - New Zealand Traders
| Entity / Asset | IG | Plus500 |
|---|---|---|
| New Zealand (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 offers the powerful WebTrader and MetaTrader 4 platforms, both popular among New Zealand traders for advanced charting, indicators, and automated trading. Plus500 provides its proprietary web and mobile platform, which is intuitive and fast but lacks advanced features like custom indicators or expert advisors. For Kiwi traders who value flexibility and technical analysis, IG’s platform suite is superior. Plus500’s simplicity is better for beginners or those trading on the go via mobile.
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 no requotes on most instruments, using STP/ECN technology. Plus500 provides instant execution with no slippage on limit orders, but market orders may experience slight delays during high volatility. For New Zealand traders trading major pairs like NZD/USD, IG’s execution is generally more reliable and faster.
Regulation & Safety for New Zealand 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 the local financial regulator in New Zealand, ensuring compliance with strict standards including client fund segregation and negative balance protection. IG is also regulated by the FCA in the UK and ASIC in Australia, adding an extra layer of oversight. Plus500 is regulated by the FCA and CySEC, but its NZ entity is also licensed locally. For New Zealand traders, this means both brokers offer a secure trading environment with robust investor protection.
Deposits & Withdrawals for New Zealand
| 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 |
New Zealand traders can fund their accounts at both IG and Plus500 using Bank Transfer, Skrill, Neteller, and USDT TRC20. Bank Transfer is free for deposits and withdrawals, processing within 1-2 business days. Skrill and Neteller deposits are instant and free, with withdrawals typically processed within 24 hours. USDT TRC20 deposits are available and processed within minutes, ideal for crypto-savvy traders. Minimum deposit is $100 for both brokers. Withdrawals are generally free, though Plus500 may charge a small fee for bank transfers. Always verify current fees on each broker’s website.
Islamic Accounts - Swap-Free for New Zealand 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 New Zealand Muslim traders. IG provides swap-free accounts upon request, with no overnight interest charges, but may apply administrative fees after a holding period. Plus500 automatically applies swap-free status for accounts flagged as Islamic, with no additional fees. Both comply with Sharia law, making them suitable options for Kiwi traders seeking ethical trading solutions. Check eligibility criteria before opening an account.
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 24/5 customer support via live chat, phone, and email, with a dedicated team for New Zealand traders. Plus500 provides 24/7 live chat and email support, but phone support is limited. For Kiwi traders, IG’s phone support during local business hours is a significant advantage, especially for urgent queries. Both have comprehensive FAQ sections.
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? - New Zealand Guide
Choose IG if you...
- Are an active or experienced trader needing advanced charting and analysis tools.
- Want tighter spreads on major forex pairs like NZD/USD and EUR/USD.
- Prefer MetaTrader 4 or a comprehensive web platform.
- Value strong customer support with phone availability during New Zealand hours.
Choose Plus500 if you...
- Are a beginner looking for a simple, intuitive platform.
- Prefer fixed spreads for predictable costs.
- Trade on mobile and need a fast, responsive app.
- Want a broker with a lower minimum deposit and easy account setup.
FAQ - IG vs Plus500 in New Zealand
Final Verdict - New Zealand 2026
For New Zealand retail traders, IG is the stronger choice due to its higher Trustpilot score (4.2/5), tighter spreads, and advanced platform features. It is particularly suited for active traders who value tools and research. Plus500, with a 3.7/5 score, is a solid alternative for beginners or those prioritizing simplicity and low minimum deposits. Both brokers accept local payments like Bank Transfer, Skrill, Neteller, and USDT TRC20, and are regulated by the local financial regulator. Ultimately, IG offers more value for serious traders, while Plus500 is ideal for those starting out. Test both with demo accounts to see which fits your trading style.