Review and Rating of PlexyTrade Forex Broker
PlexyTrade Forex Broker Review and Rating Is It Worth Your Time and Money?
PlexyTrade is a solid option for forex traders looking for a reliable broker. They offer a user-friendly platform, low spreads, and fast execution speeds. Their customer service is responsive and helpful, available 24/7. PlexyTrade also provides a wide range of educational resources and tools to help both beginners and experienced traders. However, their withdrawal process can be slow at times, and they lack a dedicated mobile app. Overall, PlexyTrade scores high in most areas, making it a good choice for most forex traders.
User-Friendly Interface
PlexyTrade offers a clean, intuitive interface that both beginners and seasoned traders will appreciate. The dashboard is easy to navigate. You won’t waste time figuring out where things are. This simplicity makes trading more efficient.
Account Types and Minimum Deposits
PlexyTrade has several account types to fit different trading needs. These range from basic accounts with low minimum deposits to premium accounts with advanced features. The basic account starts with a $100 deposit, making it accessible for new traders.
Trading Platforms
PlexyTrade supports multiple trading platforms, including MetaTrader 4 and their proprietary web-based platform. MetaTrader 4 is a favorite among traders for its advanced charting tools. The web-based platform is quick and doesn’t require any downloads.
Variety of Trading Instruments
With PlexyTrade, you can trade more than just forex. They offer a range of trading instruments including commodities, indices, and cryptocurrencies. This variety provides ample opportunities to diversify your trading portfolio.
Competitive Spreads and Commissions
One of PlexyTrade’s standout features is its competitive spreads. The broker offers tight spreads, especially on major currency pairs. Commissions are also reasonable, allowing traders to keep more of their profits.
Fast and Reliable Execution
Trade execution speeds are crucial in forex trading. PlexyTrade excels here with its fast and reliable order execution. Most trades are completed in milliseconds, reducing the chance of slippage and ensuring you get the price you want.
Educational Resources
PlexyTrade offers a wealth of educational material. From webinars to video tutorials and eBooks, there’s plenty of content to help traders improve their skills. Even seasoned traders will find valuable insights.
Customer Support
Good customer support can make a big difference. PlexyTrade provides 24/7 support through live chat, email, and phone. Their support team is knowledgeable and quick to resolve issues, making your trading experience smoother.
Security Measures
Security is a top priority for PlexyTrade. They use advanced encryption methods to protect your data and funds. Rest assured, your trading activities are secure with PlexyTrade.
Regulation and Trustworthiness
PlexyTrade is regulated by reputable financial authorities. This regulation ensures they adhere to strict standards, providing an additional layer of trust and security for traders.
PlexyTrade offers a strong mix of features, from user-friendly interfaces to fast execution speeds and excellent customer support. Whether you’re a novice or an experienced trader, PlexyTrade has something to offer. While no broker is perfect, PlexyTrade is a solid choice for those looking to make the most of their forex trading experience.
A Review of PlexyTrade
PlexyTrade, founded in 2024 and officially registered (Reg. No. 2023 - 00662) in Rodney Bay Gros Islet, Saint Lucia, is a rising brokerage firm located in Podgorica, Montenegro. Building upon the reputable and trusted LQDFX brokerage, which is no longer in operation, PlexyTrade continues the legacy of its predecessor with a new name and format, providing a broader selection of accounts and trading resources.
Information about the Company, Comparison of Swaps, and Comparison of Volume.
Location | Rodney Bay, Saint Lucia
Broker Type | ECN/STP & STP
Established | 2024
Regulation | Not Regulated
Branches | St Lucia, Montenegro
Languages | English
ESMA Regulation ? | This particular broker is not under the regulation of the European Union and is exempt from ESMA's recent limitations on Forex and CFD trading. For further details on these restrictions
Currencies for Account | USD, EUR
Minimum Deposit Requirement | $50
Allowed for Traders from USA | Yes
Funds of Clients are Segregated | Yes
No Interest on Margin | No
Accounts Available for Islamic Clients | Yes
Restrictions on Islamic Accounts | None
Offered ECN / STP Accounts | Yes
Commission for STP or ECN | $2 per side per Lot for Gold Raw Account, $1 per side per Lot for Platinum VIP Account
VIP Accounts Available | Yes
Requirements for VIP Accounts | Minimum Deposit of $10,000
Mini Accounts Available | Yes
PAMM / MAM Solutions | Not Available
API Solutions | Not Available
Mobile Trading Option | Yes
Web Based Trading Option | Yes
Methods for Funding | Confirmo, Bitcoin, Tether, Ether, Litecoin, Ripple, Cardano, Bitcoin Cash, Crypto
Methods for Withdrawal | Confirmo, Bitcoin, Tether, Ether, Litecoin, Ripple, Cardano, Bitcoin Cash, Crypto
Available Platforms: MetaTrader 4, MetaTrader 4 iOS, MetaTrader 4 Android, MetaTrader 5, MetaTrader 5 iOS, MetaTrader 5 Android
Number of Trading Pairs: 41
Cryptocurrency Trading: Available
Pricing Digits: 5
Charts for Trading: Yes
One-click Execution: Yes
Email Alerts: Available
Mobile Alerts: Available
Trading Server Time: GMT
Demo Account Expiry: No Expiration
VPS Offered: Yes
Free VPS Conditions: Free if deposit thresholds are met, with a minimum deposit of $2000.
Leverage: 2000:1 Maximum
Minimum Size of Contract: 0.01
Execution Method: Market Execution
Hedging Allowed: Yes
Scalping Allowed: Yes
Restrictions on Scalping: No
Option for OCO: No
Option for FIFO: No
Protection against Negative Balance: Yes
Top Floor, Rodney Court Building, Rodney Bay Gros Islet, Saint Lucia, Reg. No. 2023 - 00662. Financial services provided by Plexy Trade Ltd.
Physical office address: Dzordza Vasingtona No.38, PD 232, Podgorica, 81000, Montenegro
This website is not directed at any jurisdiction and is not intended for any use contrary to local law or regulation.
Start trading. Smartly. Safely. Smoothly.
Trade CFDs across 5 markets across MT4 & MT5 platforms enjoying raw spreads with low commission and superior execution.
Register in 60 seconds
Fast and easy registration process
Choose your trading account
Fund your Account
Select your favorite payment method
Quick and safe payment processing
Trade
STP execution, no requotes, no dealing desk
Tight Forex spreads from 0.0
RISK WARNING: Leveraged Contracts for Difference (‘CFDs’) and Forex products are complex financial instruments that are traded on margin. Before deciding to trade, please ensure that you understand the risks involved whilst taking into account your investment objectives and level of experience. You should not risk more than you can afford to lose. All information on this website is not directed toward soliciting citizens or residents of North Korea, UK, Syria, United States, Canada, EEA or any other jurisdiction that would be contrary to local law or regulation. Trading leveraged products such as CFDs and Forex may not be suitable for all investors as they carry a degree of risk to your capital. Please ensure that you fully understand the risks involved, and if necessary, seek independent advice. Please read the full Risk Disclosure.
Frequently Asked Questions
Is PlexyTrade considered to be an ECN broker?
At PlexyTrade, clients can access ECN order processing through the Gold Raw Account and Platinum VIP Account. For all other types of accounts, STP processing is available.
Where can PlexyTrade be found?
The registered address of PlexyTrades is situated in Saint Lucia's Rodney Bay. Additionally, PlexyTrade also has a physical office in Montenegro's Podgorica.
What is the minimum amount needed to deposit in PlexyTrade?
To open a Micro Account with PlexyTrade, a minimum deposit of $50 is required. As for the other account options provided by PlexyTrade, the minimum deposit increases and can reach up to $10,000 for the Platinum VIP Account.
Is it possible to make deposits using PayPal on PlexyTrade?
PlexyTrade does not allow PayPal deposits. Instead, it allows deposits in different cryptocurrencies such as Bitcoin, Bitcoin Cash, Tether, Litecoin, and others.
What is the highest leverage available on PlexyTrade?
At PlexyTrade, clients can benefit from a leverage of up to 2000:1, which is one of the most generous offers among forex brokers.
Is it possible for US clients to use PlexyTrade services?
Indeed, PlexyTrade does welcome clients from the United States. They are among the limited number of international brokers who continue to cater to US residents.
Is it permitted to engage in scalping on PlexyTrade?
Absolutely. PlexyTrade has the capability to utilize various trading techniques and strategies, such as scalping, hedging, and automated trading.
Which trading platforms are provided by PlexyTrade?
PlexyTrade provides its customers with the option of using the MetaTrader 4 or MetaTrader 5 trading platforms. These platforms can be accessed through a downloadable desktop application, a web-based trader, or a mobile application.
Does PlexyTrade provide PAMM services?
Currently, PAMM is not offered by them, but it will be available in the near future.
Does PlexyTrade offer protection for negative balances?
PlexyTrade offers Negative Balance Protection for all of its accounts as an extra precaution. Furthermore, customer funds are kept in separate accounts for added security.
Are Swap Free Accounts available on PlexyTrade?
PlexyTrade offers swap free accounts, also known as Islamic accounts, which are accessible to all traders.
Can PlexyTrade provide VPS services?
PlexyTrade provides various VPS plans, starting at $50 per month, but they can also be obtained for free upon reaching specific deposit requirements. The fundamental VPS package can be obtained at no cost with a minimum deposit of $2000.
Experienced professionals in the Fintech industry have established Plexytrade. Plexytrade goal is to offer traders the ultimate experience. Being a service-driven broker offering a multitude of market opportunities, we strive to provide the best market conditions. In addition, through our 24/5 attentive customer support to our valuable traders, we know how to keep you happy.
Safety & Security
We work hard to keep your funds safe, and your data protected.
STP Execution
Quick and safe order execution – no dealing desk, no requotes.
100+ Assets
Trade CFDs across five markets and enjoy raw spreads & fast execution.
Zero commission
Trade stock and index CFDs commission-free to boost your trading budget.
Regional Partner Program
We are operating in a multitude of countries. As we have positioned ourselves from day one with global partners representing Plexytrade as our regional representatives, we are always looking for dedicated professionals looking for more lucrative offers.
Do you want to take advantage of Plexytrade broad experience and enjoy the benefits of an already established forex brokerage?
Referral Program
Increase your profits by introducing qualified customers to Plexytrade and earn money while they trade. Just refer new traders to Plexytrade and get rewarded with a commission.
Plexytrade offers the absolute best revenue stream to our Partners. Starting from 15% - $1.05 per lot - our referral program offers up to $7 per lot or 70% revenue share.
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