Plus500
sogotrade
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Overview
Plus500 was founded in 2008 and is headquartered in Israel, while sogotrade was established in 2016 and is based in USA. Plus500 holds licences including Plus500UK Ltd authorized & regulated by the FCA (#509909), while sogotrade is regulated by Financial Conduct Authority (FCA) among others. Plus500 serves 1,000,000+ clients worldwide; sogotrade has 1,000,000+. The minimum deposit is $100 at Plus500 and $250 at sogotrade.
| Feature | Plus500 | sogotrade |
|---|---|---|
| Min. Deposit | $100 | $250 |
| Regulation | Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546 | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F307 |
| Founded | 2008 | 2016 |
| Country | Israel | USA |
| Clients | 1,000,000+ | 1,000,000+ |
Fees
Fees are a critical factor when choosing between Plus500 and sogotrade, directly affecting your bottom line as a trader. Plus500 has a lower barrier to entry with a minimum deposit of $100 (vs $250 at sogotrade). sogotrade charges withdrawal fees while Plus500 does not, giving Plus500 an edge for frequent withdrawers. Both brokers charge inactivity fees on dormant accounts, worth noting if you trade infrequently. Overall, Plus500 scores higher on fees in our assessment.
| Feature | Plus500 | sogotrade |
|---|---|---|
| Min. Deposit | $100 | $250 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Plus500 offers MT4, MT5, cTrader, while sogotrade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Plus500 supports social and copy trading features, which sogotrade does not offer. The two brokers are closely matched on platform offering.
| Feature | Plus500 | sogotrade |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Plus500 and sogotrade compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. Plus500 scores higher overall in education and research.
| Feature | Plus500 | sogotrade |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Plus500 accepts 4 of the tracked payment methods (bank transfer, credit/debit card, PayPal, Skrill), while sogotrade supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). sogotrade uniquely supports Neteller among the two brokers. sogotrade scores higher on deposit and withdrawal flexibility.
| Feature | Plus500 | sogotrade |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | Yes |
| Skrill | Yes | Yes |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Plus500 and sogotrade offer live chat support. Both provide phone support. Email support is available at both brokers. Plus500 supports 15 languages and sogotrade supports 8, giving Plus500 broader global reach. Both brokers are comparable on support quality.
| Feature | Plus500 | sogotrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, French, Italian, Spanish, Portuguese, German, Dutch, Polish, Arabic, Hebrew, Danish, Norwegian, Czech, Slovak, Bulgarian and Chinese | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |