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Plexytrade
Unregulated
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Plexytrade

Saint Lucia
2016-06-09
2
2.2
Rating Index
Software
6.31
Licensed
0
Risk Control
2.6
Experience
6.99
Institution
0
Industry Classification
D
Unqualified
Trading Platforms
MT4, MT5, TradeLocker

Basic Information

  • Registered Region
    Saint Lucia
  • Operation Status
    Abnormal
  • Operating Period
    2016-06-09
  • Deposit Methods
    Crypto, Bank Transfer
  • Website
  • Market Type
    Foreign exchange
  • Support Languges
    English
  • Main Business
    FX, commodities, digital assets, stocks, indices, CFDs
  • Business Type
    FX broker
  • Social Media
  • Contact Details
  • Type of Accounts
    Micro, Silver, Gold Raw, Platinum
  • Trading Platforms
    MT4, MT5, TradeLocker
  • Withdraw Methods
    VISA, Mastercard, Apple Pay, Wire Transfer, Trustly
  • Auto Trading
    EA supported

Pros and Cons

Pros of Plexytrade include support for popular trading platforms such as MT4 and MT5, low minimum deposit requirements starting at $50, and competitive spreads from 0 pips on certain accounts. However, significant cons include lack of regulatory oversight and potential withdrawal issues reported by users.

Company Background

Plexy Trade Ltd. is a forex broker registered in Saint Lucia. Established in 2016, it offers trading on a variety of instruments including forex, indices, stocks, commodities, and cryptocurrencies, but operates without regulatory oversight, raising potential concerns regarding its legitimacy in the market.

Fund Security

As an unregulated broker, Plexytrade does not provide information about fund security measures or investor protection mechanisms, which may pose risks to traders regarding the safety of their funds and potential withdrawal issues.

Account Opening

Plexytrade offers four account types: Micro (min. deposit $50), Silver (min. deposit $300), Gold Raw (min. deposit $300), and Platinum (min. deposit $10,000). Each account type has different features including leverage options and commissions, catering to both novice and experienced traders.

Trading Fees

The broker offers varying trading fees depending on the account type, with spreads starting from 0.0 pips on Gold Raw and Platinum accounts, and zero commissions on Micro and Silver accounts. Full commission details are disclosed for higher-tier accounts.

Trading Instruments

Plexytrade provides access to over 100 trading instruments including forex pairs, indices, stocks CFDs, commodities, and cryptocurrencies, allowing for diversified trading strategies across multiple asset classes.

Trading Technology

The broker employs MT4 and MT5, popular trading platforms compatible with various devices, ensuring a user-friendly experience for both novice and experienced traders. Additionally, TradeLocker is available for diverse trading approaches.

Research and Education

Currently, Plexytrade does not offer any significant educational resources or research tools to assist traders in enhancing their trading knowledge, which may limit opportunities for developing trading skills.

Customer Support

Customer support is available via phone and email, with a dedicated contact number provided (+382 68 04 3222) and an email address (support@plexytrade.com) for inquiries. However, the quality and responsiveness of the support remain unverified.
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Rating Instructions
Rating Index
Plexytrade
Plexytrade
Unregulated
Legal Environment
6.31
License Value
0
Risk Management
2.6
Investor Protection
6.99
Regulatory Policy
0
  • Software

    Evaluates the regulator's legal foundation, organizational structure, leadership experience, and enforcement capacity. Focuses on whether it enforces strict regulations, maintains transparency and fairness, and engages in international cooperation and technological supervision.

  • Institution

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  • Licensed

    Assesses the market value of the licenses issued by the regulator, including entry thresholds, compliance costs, approval duration, and overall global recognition and influence.

  • Risk Control

    Evaluates the regulator's financial stability and risk management capacity, including budgeting, reserves, revenues, expenditures, and ability to respond to market or financial shocks.

  • Investor Protection

    Examines the regulator's complaint-handling and investor protection systems, assessing fairness, responsiveness, and enforcement effectiveness in safeguarding investor rights.

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