Nexo vs Plus500

Nexo vs Plus500 Comparison Table 2024
Nexo Plus500
3.9

Nexo is #21 in our crypto broker rankings.

4.1
United States Flag Traders from US accepted
United States Flag Traders from US not accepted

Nexo is a centralized crypto exchange founded in 2018 in Bulgaria and today operates across some 200 jurisdictions from its base in Switzerland. It provides services including spot trading, futures trading, peer-to-peer loans, cold wallet storage and fiat-on ramps to buy crypto tokens. The crypto firm is registered with some respected financial authorities, such as the ASIC, and offers some fairly unique additional services including a credit card.

Established in 2008 and headquartered in Israel, Plus500 is a prominent brokerage that boasts over 25 million registered traders in over 50 countries. Specializing in CFD trading, the company offers an intuitive, proprietary platform and mobile app. It maintains competitive spreads and does not charge commissions or deposit or withdrawal fees. Plus500 also continues to shine as one of the most trusted brokers with licenses from reputable regulators, including the FCA, ASIC and CySEC.

82% of retail CFD accounts lose money.
Customer Reviews
3
Bonus Offer
Loyalty scheme with various bonuses, plus referral program and bonus paid to lenders on credit line
Comment by Reviewer
"Nexo gives crypto traders the capability to trade, invest, lend and borrow digital assets in one place, and it’s especially good for its credit functions that pay out very high yields to lenders. However, its fees are relatively high and many day traders will prefer a more tightly regulated crypto broker." "Plus500 offers a super-clean experience for traders with a CFD trading platform that sports a modern design and dynamic charting. That said, the broker’s research tools are limited, fees trail the cheapest brokers, and there’s room for enhancement in its educational resources."
Pros
  • Reputable crypto exchange that has been in business since 2018 and has taken some steps toward regulation
  • Nexo Pro is a user-friendly proprietary platform that suits day trading strategies with great charting features
  • Value-add tools integrated into the trading platform including social media analysis and newsfeeds by asset
  • Traders can access perpetual futures to open long or short positions on crypto assets, increasing strategic opportunities
  • Nexo’s crypto staking and credit features support crypto lending and borrowing, and the yields lenders receive are among the best going
  • Traders benefit from bonuses and incentives including free trading funds paid to lenders and cashback in the form of the exchange’s native Nexo token
  • Plus500 provides a specialized WebTrader platform designed explicitly for CFD trading, offering a clean and uncluttered interface
  • The broker offers commission-free trading on a diverse range of markets, minimizing additional fees while appealing to established traders
  • Plus500 has recently bolstered its suite of short-term trading products, including introducing VIX options with enhanced volatility
  • You can utilize leverage while engaging in long or short positions, allowing for more strategic trading opportunities
  • The customer support team continue to provide reliable 24/7 support via email, live chat and WhatsApp
Cons
  • Although Nexo has registered with some reputable watchdogs, it is riskier to trade with than established crypto brokers like AvaTrade and Vantage
  • High deposit and withdrawal fees for cards and e-wallets will price many traders out of the most convenient payment methods
  • Very few educational resources are available, reducing its appeal to beginners who can find more helpful resources at category leaders like eToro
  • High maker/taker fees mean day traders will pay more to trade derivatives than they would at rival exchanges like Binance
  • The range of tokens is extensive compared to most crypto brokers but still much smaller than similar crypto exchanges like Kraken
  • Plus500’s lack of support for MetaTrader or cTrader charting tools might be a deal breaker for advanced day traders looking for familiarity
  • Educational resources are limited compared to best-in-class brokers like eToro, impacting the learning curve for beginners
  • The absence of social trading means users can’t follow and replicate the trades of experienced traders
  • Compared to some competitors, especially IG, Plus500’s research and analysis tools are limited
  • Algo trading and scalping are not supported, which may deter some day traders
Awards
  • Best Cryptocurrency Wallet – FinTech Breakthrough Awards, 2023
  • Best Use of Crypto and/or Blockchain in Financial Services – PAY360 Awards, 2022
  • Best Overall Broker 2021 - DayTrading.com
  • Best Overall Broker 2020 - DayTrading.com
  • Best Overall Broker 2019 - DayTrading.com
Instruments
Cryptos CFDs on Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto
Demo Account
No Yes
Minimum Deposit
$10 $100
Trading Platforms
  • Nexo Pro
  • WebTrader
  • App
Payment Methods
Minimum Trade
$30 0.01 Lots
Regulator
FCA, ASIC, CySEC, DFSA, MAS, FSA, FSCA, FMA, EFSA
Margin Trading
Yes Yes
STP Account
No No
ECN Account
No No
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No Yes
Market Maker
No Yes
P2P Trading
No No
Spot Trading
Yes No
Mobile Apps
iOS & Android iOS, Android & Windows
App Review

Plus500 have developed their mobile apps to match the WebTrader online platform . Secure and reliable, the app is among the best out there. Stop loss and limits are available, free alerts and a full range of markets and instruments are available. Visit the download page here.

Android App Rating
4
4.3
iOS App Rating
3.8
4.1
Auto Trading
No
Copy Trading
No No
Social Trading
No No
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No Yes
Custodial Account
No No
Guaranteed Stop Loss
No Yes
Inactivity Fee
$10
Islamic Account
No Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • USD
  • EUR
  • GBP
  • AUD
  • ZAR
  • CZK
Stock Exchanges
Commodities
CFD Trading
CFD trading not offered Plus500 presents commission-free CFDs encompassing a vast array of markets, spanning currencies, stocks, indices, and commodities. You can engage in long or short positions on popular assets, benefiting from adaptable leverage without encountering any concealed fees. Due to the prohibition of CFDs in the US, Plus500 doesn’t facilitate CFD trading for US customers. However, the company does provide access to a new platform called TradeSniper, specifically tailored for trading futures, which is accessible to US traders.
Leverage
1:30
FTSE Spread
1.2
GBPUSD Spread
1.1
Oil Spread
0.04
Stocks Spread
0.08
Forex Trading
Forex trading not offered Plus500 provides forex trading through CFDs, featuring narrow spreads across an impressive selection of over 60 currency pairs. During testing, spreads came in as tight as 0.6 pips on the EUR/USD, which is notably lower than many alternatives.
Forex App

Plus500 have developed their mobile apps to match the WebTrader online platform . Secure and reliable, the app is among the best out there. Stop loss and limits are available, free alerts and a full range of markets and instruments are available. Visit the download page here.

GBPUSD Spread
1.1
EURUSD Spread
0.6
EURGBP Spread
1.4
Assets
60+
Cryptocurrency
Nexo offers trading on an impressive suite of around 70 tokens, including Bitcoin. Digital assets can be bought, sold and swapped directly on the exchange or traded in over 500 pairs. Digital assets can also be used as collateral for fiat loans or used to generate passive income with the ‘smart staking’ tool or from interest earned via peer-to-peer loans. Investors can trade on rising and falling prices with CFDs on popular cryptos like Bitcoin. Plus500 also stands out for its crypto indices, which offer diversification opportunities by tracking a basket of leading digital currencies. Availability subject to regulation.
Spread
N/A Variable
Coins
  • BTC
  • ETH
  • NEXO
  • USDT
  • USDC
  • AXS
  • RUNE
  • MATIC
  • DOT
  • APE
  • AVAX
  • KSM
  • ATOM
  • FTM
  • NEAR
  • BNB
  • ADA
  • SOL
  • XRP
  • LTC
  • LINK
  • BCH
  • TRX
  • XLM
  • EOS
  • PAXG
  • UNI
  • DOGE
  • MANA
  • SAND
  • GALA
  • SUSHI
  • AAVE
  • CRV
  • MKR
  • 1INCH
  • DAI
  • USDP
  • TUSD
  • BCH
  • BTC
  • ETH
  • LTC
  • XRP
  • IOTA
  • NEO
  • EOS
  • XMR
Crypto Lending
Yes No
Crypto Mining
No No
Crypto Staking
Yes No
Auto Market Maker
No No
82% of retail CFD accounts lose money.
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