NOTE: Plus Market Ltds official site - https://www.plus-forex.com/ and https://www.plus-fx.com/Index/Info is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
What is Plus Market Ltd？
Registered in the United Kingdom, Plus Market Ltd is an online retail broker that allows traders to buy and sell various financial instruments. Users of different account types can carry out their trade on Meta Trader 5. However, the regulatory status of NFA is unauthorized.
Pros & Cons
Pros:
Reliable Trading Platform: The broker offers trading services on the Meta Trader 5 platform, which is known for its reliability and user-friendly interface.
Various Account Types: Plus Market Ltd provides users with different account types, including Bronze, Silver, Gold, Platinum, Premium, and VIP, allowing traders to choose an option that suits their trading needs.
Available Demo Account: The demo account allows users to practice trading with virtual funds, gaining experience and confidence without the risk of losing money.
Cons:
Unauthorized NFA Regulation: The broker is not authorized by the NFA, which indicates risks in operation.
Non-functional Official Website: The official website is not functional currently, which prevents users from learning more about the company.
Opaque Information: There is a lack of clear and transparent information available about the broker, which makes it difficult for traders to make informed decisions.
Is Plus Market Ltd Safe or Scam？
Plus Market Ltd, licensed with a Common Financial Service License of No.0539156, operates under the unauthorized NFA regulation. And the non-functional website is also red flags for risks. The limited transparency regarding its operations further complicates assessing its safety. In summary, it is highly unlikely that Plus Market Ltd is a safe or legitimate broker.
Account Types
Plus Market Ltd offers six trading account options to cater to traders with varying levels of experience and capital.
Bronze Account: The Bronze Account is the basic account option, requiring a minimum deposit of €1,000. This account type is suitable for beginners or traders looking to start with a smaller initial investment.
Silver Account: The Silver Account requires a minimum deposit of €2,500. This account type is suitable for traders who want a more comprehensive trading experience.
Gold Account: The Gold Account is a higher-tier option that requires a minimum deposit of €10,000. This account type is suitable for more experienced traders or those with larger trading capital.
Platinum Account: The Platinum Account is a premium option that requires a minimum deposit of €25,000. This account type is suitable for high-net-worth individuals or traders seeking personalized services.
Premium Account: The Premium Account is a top-tier option that requires a minimum deposit of €50,000. This account type is suitable for experienced traders or institutional clients.
VIP Account: The VIP Account is the most exclusive option, requiring a minimum deposit of €200,000. This account type is suitable for very experienced traders or high-net-worth individuals.
Leverage
Plus Market Ltd offers leverage up to 1:200 to professional clients, which means that these clients can trade positions up to 200 times the amount of capital they have in their trading account.
For non-professional clients, the maximum leverage offered is up to 1:30, as per ESMA's guidelines. This lower leverage limit is intended to reduce the risk of large losses for retail investors who do not have the same level of experience or understanding of the risks associated with leveraged trading.
Spreads & Commissions
Plus Market Ltd advertises spreads as low as 0.1 pips on major currency pairs. This means that for a major currency pair like EUR/USD, the difference between the buying and selling price is as low as 0.1 pips. Low spreads can be beneficial for traders as they can reduce the cost of trading, especially for those who trade frequently or use strategies that rely on small price movements.
Trading Platform
Plus Market Ltd offers the MetaTrader 5 (MT5) trading platform to its clients. MetaTrader 5 is a popular platform among traders and brokers, known for its advanced trading capabilities and user-friendly interface. The MT5 platform provides access to a wide range of trading instruments. It offers various features such as advanced charting tools, technical analysis indicators, and customizable trading strategies. Traders can also access the platform from different devices, including desktops, smartphones, and tablets, allowing for trading on the go.
Customer Service
Plus Market Ltd provides customer service through email. Clients can reach out to the support team via two email addresses: support@plus-fx.com and assistance-en@kiplar.com.
Conclusion
While Plus Market Ltd offers a variety of account types and a popular trading platform, there are significant issues regarding their unauthorized regulatory status, non-functional website, and lack of transparent information, which suggest risks associated with this broker. We recommend you looking for alternative brokers with clearer regulatory compliance and operational transparency.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
2024-02-07 16:32
2023-03-23 10:06
