Plexytrade Forex Review

Read our full Plexytrade review to get exact details about their safety, accounts, spreads, platforms, assets, support, and many more. Our unbiased Plexytrade review enables our readers to make an informed decision about whether Plexytrade is a reliable broker.

Plexytrade Forex Broker History

Plexytrade is a relatively young Forex and CFDs broker that was established in 2023. Despite this, it already has years of experience in the foreign exchange (FX) brokerage industry. It offers a multitude of different account types and advanced platforms. The broker offers a very well-designed website, which is responsive and transparently discloses all trading conditions, which is important.

The broker is registered in Saint Lucia, which is an offshore jurisdiction.

Plexytrade broker safety

Safety starts with regulations. Unfortunately, Plexytrade does not hold any license, meaning it is not regulated anywhere, which makes it a very risky broker.

As an unregulated broker, we can not confirm it employs segregated bank accounts to keep client funds separate from its operational money. This is a serious red flag and coupled with unregulated status, Plexytrade is not recommended at the moment.

However, Plexytrade offers a negative balance protection on all of its trading account types, which is a crucial policy ensuring traders are not liable for losses beyond their account balance.

Plexytrade Broker Review of Accounts

Plexytrade excels in account type diversity. Although some accounts have somewhat similar conditions, the availability of many different accounts is always good for traders.

Plexytrade account types include Micro, Silver, Gold, and Platinum options.

The Plexytrade Micro account has the following specs:

• Minimum deposit – 50 USD
• Maximum leverage – 1:2000
• Spreads from – 0.7 pips
• Commissions – 0 USD

The account allows traders to use EAs, scalping strategies, hedging, and news trading. However, the Islamic option is not available, which is a minor downside. VPS is available.

The Plexytrade Silver account has the following specs:

• Minimum deposit – 300 USD
• Maximum leverage – 1:500
• Spreads from – 0.7 pips
• Commissions – 0 USD

The account also allows EAs, scalping, and news trading, and there is an Islamic option available. VPS is also available on this account and all other remaining ones.

The Plexytrade Gold account has the following specs:

• Minimum deposit – 300 USD
• Maximum leverage – 500:1
• Spreads from – 0.0 pips
• Commissions – $2 ($4 round turn)

This account also allows algorithmic trading, scalping, hedging, and news trading. There are Islamic versions and VPS available as well.

The Plexytrade Platinum account has the following specs:

• Minimum deposit – 10,000 USD
• Maximum leverage – 1:400
• Spreads from – 0.0 pips
• Commissions – $1 ($2 round turn)

This account also adds a personal account manager to the features offered by all other accounts, which is useful when managing a large trading account.

Overall, the broker offers competitive trading conditions with low spreads.

Plexytrade instruments

Plexytrade offers access to multiple different asset classes such as FX pairs (majors, minors, exotics), commodities (metals and energies), indices, stocks, and crypto pairs. The availability of both cryptos and stocks is definitely a plus for the broker and makes it truly a multi-asset broker. The leverage is also more than enough to control large position sizes.

Plexytrade Reviews of Trading Platforms

Plexytrade offers three different trading platforms, MT4, MT5, and TradeLocker. All three allow algorithmic trading (EAs), and custom indicators, which are very flexible. All three also are available as mobile apps on all mobile devices including Android and iOS. Tradelocker is a relatively young software but still very capable and traders are free to choose between the three on all trading account types.

Plexytrade Forex Review of Extra Features

Plexytrade offers many extra features like:

• 120% cash bonus – Up to 24,000 dollars in bonuses with a minimum of 200 dollar deposit
• 100% tradeable bonus – Up to 1000 dollar instant bonus. Minimum deposit requirement: 200 USD.
• Titans competition – Trading contest with cash prizes.
• VPS service – Supports 24/7 uninterrupted algorithmic trading using VPS servers.
• Education Center – Provides trading educational content including video guides and articles.
• Market buzz – Provides investment ideas on which stocks to buy or invest in.
• Trading calculators – Pip value, margin, profit/loss, and currency converter.
• Alpha generation plugin – Premium Technical Analysis indicators packs.
• Economic calendar – Track fundamental news events.
• Technical views – Trading Central’s trading signals.

As we can see, the broker provides plenty of additional features to assist its traders, which is very useful, especially for beginner traders.

Plexytrade Reviews of Customer Support

Plexytrade provides an excellent customer support service, as it allows traders to access plenty of options such as live chat, email, and hotline support. Live chat is built directly into the website and provides the fastest support, which is very cost- and time-efficient. The broker’s website and support are only provided in two languages, which is not enough to call it a multilingual broker.

Plexytrade Deposit and Withdrawal

Payment options supported at the moment are limited to Confirmo and Cryptos. From cryptos, traders can use BTC, ETH, LTC, and a few more options. Withdrawals take 1-2 business days to process and deposits are instant. The minimum payment amount is 50 USD/EUR.

Plexytrade Review Conclusion – can you trust Plexytrade?

Plexytrade is a young, offshore-based, and unregulated FX broker offering attractive trading conditions, multiple account types, high leverage, and many extra features like bonus promotions. While it provides solid platform choices like MT4 and MT5, educational tools, and responsive support with diverse options, the lack of regulatory licenses and limited payment options are major drawbacks. Extra caution is advised when dealing with unregulated brokers.

FAQs on Plexytrade

Is Plexytrade a scam?

Plexytrade scam is likely as the broker is registered in offshore jurisdictions and is not regulated by any authority.

What is the Plexytrade minimum deposit?

The minimum deposit is $50 for the Micro account, which is very low and competitive.

Is Plexytrade a cheap broker?

Yes, it offers low spreads and commission-free accounts and has low commissions for its zero-spread account types.