Which Loan and Credit broker should you choose?
Are you considering playing Loan and Credit and wondering which broker – E-Money or Plus500 – is better? If you don’t know which one to choose, read the list.
E-Money or Plus500? If you are looking for knowledge, E-Money is better. Focuses mainly on social trading, exchange of information between investors. Plus500 has more access to niche markets and technical analysis tools for advanced users.
To get to know these two brokers well
You should start with costs. However, this is not so simple. First of all, not every Broker provides data on average spread level. Brokers who provide such data often use different algorithms to calculate them.
This makes the comparison difficult. The impact of the amount of costs also has what instruments we trade or even what currency pair. Should you choose a broker with a dealing desk or a no dealing desk? The list of potential questions can be longer and longer. To facilitate your selection, we have prepared a comparison in the form of tables.
In my generalized ranking E-Money got 4 stars, while Plus500 got 3 stars. You can find more about costs below. In the total ranking E-Money got 4 stars, while Plus500 got 3 stars. You can find more about costs below.
In addition to costs and commissions
The availability of instruments and currencies is equally important. Also pay attention to brokers’ licenses. I recommend using only those who are regulated by authorized committees and oversight. Both E-Money and Plus500 are supervised by European bodies. When it comes to the number of possible currency pairs, we can make transactions in 47 currencies with a broker and E-Money platform, with 60 in Plus500.
The next step in comparing E-Money and Plus500 will be to look at the tools and options available from these Loan and Credit brokers. Advanced traders like to use MetaTrader. Neither E-Money nor Plus500 has access to this platform. If we compare the number of tools, E-Money can boast of 14 different tools. The Plus500 platform has none. If we’re talking about indicators for charts, Plus500 has 103, while E-Money has fewer, because 66.
The most important advantage of E-Money when it comes to functionality is the ability to copy and preview other investors’ games. The platform enables automatic transactions similar to those that are made by the best investors selected by us on the platform. Considering the above, E-Money gets 4 stars from us for functionality, while Plus500 only 3.