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Score

1.84 /10

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Plexytrade

Item: Plexytrade
Rating: 1.84

Saint Lucia

1-2 years

Suspicious Regulatory License

MT4 Full License

Global Business

High potential risk

https://plexytrade.com

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Score

Regulatory Index0.00

Business Index4.17

Risk Management Index0.00

Software Index8.64

License Index0.00

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Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard

No restriction on the broker account. Support service provided by WikiFX

Single Core

40G

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Broker Information

Company Name

Plexy Trade Ltd.

Company Abbreviation

Plexytrade

Platform registered country and region

Saint Lucia

Company website

https://plexytrade.com

https://twitter.com/plexytrade

Facebook

https://www.facebook.com/PlexyTrade

Instagram

https://www.instagram.com/plexytrade?igsh=cXdpbXRxNnZ3ZHJ3

Company summary

Pyramid scheme complaint

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Plexytrade · Company summary

Founded in 2016, Plexytrade provides over 100 trading instruments spanning several markets, including Forex, commodities, indices, cryptocurrencies, and stocks. Serving both amateur and experienced traders, the broker gives access to the MetaTrader 4 and MetaTrader 5 systems. But despite these, Plexytrade is unregulated, which puts traders at risk.

Pros and Cons

Pros	Cons
High leverage up to 1:2000	Unregulated broker
Negative balance protection (Segregated account, Banlance Protection.etc)	High minimum deposit for Platinum VIP account ($10,000)
Free VPS and PAMM system

Is Plexytrade Legit？

Being an uncontrolled broker, Plexytrade does not run under any financial regulatory control. For traders, this absence of control raises their risk since no official protection exists for their money.

The official website of Plexytrade is set in 2016,and the status of it is “OK” now.

What Can I Trade on Plexytrade？

Plexytrade offers over 100 trading instruments across various markets. Traders can trade Forex, commodities, indices, cryptocurrencies, and stocks.

Tradable Instruments	Supported
Forex	✔
Commodities	✔
Indices	✔
Cryptocurrencies	✔
Stocks	✔
ETFs	❌
Bonds	❌
Options	❌

Account Types

Four live account options from Plexytrade are Micro, Silver, Gold Raw, and Platinum VIP. The broker does not offer an Islamic account but does have a demo account.

Account Name	Min. Deposit	Max Leverage	Max Trade Size	Typical Spread	Suitable for
Micro Account	$50	1:2000	5 lots	0.7 pips	Beginners
Silver Account	$300	1:500	50 lots	0.7 pips	Intermediate traders
Gold Raw Account	$300	1:500	50 lots	0.0 pips	Traders need raw spreads
Platinum VIP Account	$10,000	1:400	80 lots	0.0 pips	Large volumes professional traders

Plexytrade Fees

Particularly with its raw spreads and 0 charges on specified instruments, Plexytrade provides reasonable trading fees relative to industry norms.

Plexytrade Spreads and Commissions:

Spreads: From 0.0 pip to 0.7 pips.

Account Type	Typical Spread
Micro Account	0.7 pips
Silver Account	0.7 pips
Gold Raw Account	0.0 pips
Platinum VIP Account	0.0 pip

Trading Platform

Trading Platform	Supported	Available Devices	Suitable for
MetaTrader 4 (MT4)	✔	PC, Web, Mobile (iPhone, iPad, Android)	All traders, especially beginners
MetaTrader 5 (MT5)	✔	PC, Web, Mobile (iPhone, iPad, Android)	Experienced traders
MT4 WebTrader	✔	Web Browser	Browser-based trading traders
MT5 WebTrader	✔	Web Browser	Advanced traders
Tradelocker	❌	-	-

Deposit and Withdrawal

Plexytrade does not charge any fees for deposits or withdrawals.

Payment Method	Min. Deposit	Processing Time
Confirmo	50 USD/EUR	Instant
Cryptos	50 USD/EUR	Instant

Plexytrade Promotions

Promotion	Details
120% Cash Bonus	Up to $24,000 with deposits starting from $200 for all account types.
Free VPS	Available for eligible accounts, providing low-latency trading conditions.
PAMM System	Allows investors to allocate funds to skilled traders.
Demo Accounts	Free demo accounts for practice

Customer Support

Plexytrade offers 24/5 customer support through various channels including email and phone.Also,it provides online real-time chat robots and contact form.Also,it has social media support websites.

Contact Options	Details
Phone	+382 68 04 3222
Email	support@plexytrade.com
Online Chat	Available on the website
Social Media	Facebook, Twitter, Instagram
Supported Language	English
Website Language	English
Physical Address	Dzordza Vasingtona No.38, PD 232, Podgorica, 81000, Montenegro
Live Chat	Yes
Contact Form	Yes

The Bottom Line

For traders seeking reduced expenses, Plexytrade's $0 commission on particular accounts makes it suitable for them.But, notably for its Platinum VIP account, it has high minimum deposits as $10,000. Experienced traders with enough funds hoping to profit from tight spreads and sufficient trading tools will find it most suited.

FAQs

Is Plexytrade safe？

No, Plexytrade is an unregulated broker.

Is Plexytrade good for beginners？

No. It's unregulated and with high leverage as 1:2000, means it's unsuitable for new users.

Is Plexytrade good for day trading？

Yes, with tight spreads and fast execution, it is suitable for day trading.

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Warning: Low score, please stay away!

Previous Detection : 2024-12-22

It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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Overview

Biz Area

WikiFX Survey

Website

MT4/5

Genealogy

Clones

Keywords

Account

Time Machine

Benchmark	--
Maximum Leverage	1:400
Minimum Deposit	$10,000
Minimum spread	from 0.0
Products	100+ products in FX, Indices, Crypto, Commodities and Stocks

Currency	--
Minimum position	--
Supported EA
Depositing Method	--
Withdrawal Method	--
Commission	$1

Plexytrade · Company summary

Pros and Cons

Pros	Cons
High leverage up to 1:2000	Unregulated broker
Negative balance protection (Segregated account, Banlance Protection.etc)	High minimum deposit for Platinum VIP account ($10,000)
Free VPS and PAMM system

Is Plexytrade Legit？

The official website of Plexytrade is set in 2016,and the status of it is “OK” now.

What Can I Trade on Plexytrade？

Plexytrade offers over 100 trading instruments across various markets. Traders can trade Forex, commodities, indices, cryptocurrencies, and stocks.

Tradable Instruments	Supported
Forex	✔
Commodities	✔
Indices	✔
Cryptocurrencies	✔
Stocks	✔
ETFs	❌
Bonds	❌
Options	❌

Account Types

Four live account options from Plexytrade are Micro, Silver, Gold Raw, and Platinum VIP. The broker does not offer an Islamic account but does have a demo account.

Account Name	Min. Deposit	Max Leverage	Max Trade Size	Typical Spread	Suitable for
Micro Account	$50	1:2000	5 lots	0.7 pips	Beginners
Silver Account	$300	1:500	50 lots	0.7 pips	Intermediate traders
Gold Raw Account	$300	1:500	50 lots	0.0 pips	Traders need raw spreads
Platinum VIP Account	$10,000	1:400	80 lots	0.0 pips	Large volumes professional traders

Plexytrade Fees

Particularly with its raw spreads and 0 charges on specified instruments, Plexytrade provides reasonable trading fees relative to industry norms.

Plexytrade Spreads and Commissions:

Spreads: From 0.0 pip to 0.7 pips.

Account Type	Typical Spread
Micro Account	0.7 pips
Silver Account	0.7 pips
Gold Raw Account	0.0 pips
Platinum VIP Account	0.0 pip

Trading Platform

Trading Platform	Supported	Available Devices	Suitable for
MetaTrader 4 (MT4)	✔	PC, Web, Mobile (iPhone, iPad, Android)	All traders, especially beginners
MetaTrader 5 (MT5)	✔	PC, Web, Mobile (iPhone, iPad, Android)	Experienced traders
MT4 WebTrader	✔	Web Browser	Browser-based trading traders
MT5 WebTrader	✔	Web Browser	Advanced traders
Tradelocker	❌	-	-

Deposit and Withdrawal

Plexytrade does not charge any fees for deposits or withdrawals.

Payment Method	Min. Deposit	Processing Time
Confirmo	50 USD/EUR	Instant
Cryptos	50 USD/EUR	Instant

Plexytrade Promotions

Promotion	Details
120% Cash Bonus	Up to $24,000 with deposits starting from $200 for all account types.
Free VPS	Available for eligible accounts, providing low-latency trading conditions.
PAMM System	Allows investors to allocate funds to skilled traders.
Demo Accounts	Free demo accounts for practice

Customer Support

Plexytrade offers 24/5 customer support through various channels including email and phone.Also,it provides online real-time chat robots and contact form.Also,it has social media support websites.

Contact Options	Details
Phone	+382 68 04 3222
Email	support@plexytrade.com
Online Chat	Available on the website
Social Media	Facebook, Twitter, Instagram
Supported Language	English
Website Language	English
Physical Address	Dzordza Vasingtona No.38, PD 232, Podgorica, 81000, Montenegro
Live Chat	Yes
Contact Form	Yes

The Bottom Line

FAQs

Is Plexytrade safe？

No, Plexytrade is an unregulated broker.

Is Plexytrade good for beginners？

No. It's unregulated and with high leverage as 1:2000, means it's unsuitable for new users.

Is Plexytrade good for day trading？

Yes, with tight spreads and fast execution, it is suitable for day trading.

News

Exposure Plexytrade: Something You Need to Know About This Broker

Plexytrade is a relatively new entrant in the forex trading market, having been operational for less than a year. The broker is registered in Saint Lucia and offers a wide array of market instruments, including forex, indices, commodities, cryptocurrencies, and stocks. However, it is important to note that Plexytrade currently operates without any valid regulatory oversight.

WikiFX

2024-07-11 17:18

Plexytrade: Something You Need to Know About This Broker

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User Reviews

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Comments

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robin2018

6-12months

Plexytrade bought out LQDFX in 2024 and moved a lot of the employees over to Plexy. The service has been seamless, and they support mobile Metatrader 4 which is awesome. They have been super easy to work with. Crypto in/out only. Takes USA clients.

Translate to English

2024-06-19 07:55