Plexytrade Forex broker review — Everything you need to know

Plexytrade is the company’s trade name, provides security trading services worldwide, and warns its users that the website is not intended for traders who fall under any regulatory jurisdictions. The broker is young and was established in 2023, offering diverse accounts and access to CFDs.

In this unbiased review, we will review the broker’s critical features such as regulations and safety, assets, accounts, spreads, commissions, platforms, leverage, support, and much more.

Plexytrade Overview of the website

The website of Plexytrade is clean in design and responsive when navigating around. It is user-friendly and provides all crucial details about the broker’s trading services and conditions such as accounts, platforms, payments, and built-in live chat. The design is simplistic and not crowded with too many items and colors; menus and tabs are very well-ordered, which is important for finding all the details quickly.

Overall, the broker really put a lot of work into developing a useful and professional website which is a crucial part of modern FX trading.

Plexytrade Accounts Reviewed

Plexytrade offers traders a wide range of different trading account types. There are Micro, Silver, Gold, and Platinum accounts. Each of the accounts has slightly different conditions and let’s briefly analyze whether they have attractive conditions.

Plexytrade Micro Account

The micro account has the west minimum deposit requirement but still provides competitive trading conditions:

• Minimum deposit – 50 USD
• Maximum leverage – 1:2000
• Spreads from – 0.7 pips
• Commissions – 0 USD
• EAs / Scalping / Hedging / News Trading Allowed – Yes
• Swap-free options – No
• Free Funding – Yes
• VPS Available – Yes

Plexytrade Silver Account

The silver account has a slightly higher minimum deposit requirement but allows lower leverage:

• Minimum deposit – 300 USD
• Maximum leverage – 1:500
• Spreads from – 0.7 pips
• Commissions – 0 USD
• EAs / Scalping / Hedging / News Trading Allowed – Yes
• Swap-free options – Yes
• Free Funding – Yes
• VPS Available – Yes

Plexytrade Gold Account

The gold account offers zero spread trading experience and offers:

• Minimum deposit – 300 USD
• Maximum leverage – 500:1
• Spreads from – 0.0 pips
• Commissions – $2 ($4 round turn)
• EAs / Scalping / Hedging / News Trading Allowed – Yes
• Swap-free options – Yes
• Free Funding – Yes
• VPS Available – Yes

Plexytrade Platinum Account

The platinum is also a 0 pips account and has even lower commissions but the minimum deposit requirement is even higher:

• Minimum deposit – 10,000 USD
• Maximum leverage – 1:400
• Spreads from – 0.0 pips
• Commissions – $1 ($2 round turn)
• EAs / Scalping / Hedging / News Trading Allowed – Yes
• Swap-free options – Yes
• Free Funding – Yes
• VPS Available – Yes

Overall, the broker has competitive conditions with low spreads and cheap commissions which makes it very competitive.

Deposit and withdrawal options at Plexytrade

The broker allows traders to use only two payment options: Confirmo, and Cryptos (BTC, ETH, LTC, etc.). There are no other options to fund a trading account or withdraw profit, which is a downside. Deposits are instant but withdrawals require 1-2 business days, which is inconvenient. The minimum payment amount is 50 USD or EUR.

Plexytrade Assets — What can you trade?

Plexytrade provides access to a wide range of trading assets, such as Forex pairs, indices, commodities, stocks, and cryptos. There are major pairs, minors, and exotics as well. All the assets are accessible on advanced trading platforms and with a 1:2000 leverage traders can control serious buying and selling power, which is also risky for beginners.

Trading platforms of Plexytrade

The broker offers access to several popular advanced trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and TradeLocker. As a result, traders can use custom indicators and Expert Advisors (EAs). The broker allows all tools including EAs, which are very flexible for algorithmic traders. Mobile trading is available via the mobile app version of the above-mentioned trading software, allowing traders to access markets on the go using iOS and Android devices.

Education at Plexytrade

The broker provides learning materials which are in its educational section of the website. There is a trading course where traders can learn a lot of financial trading concepts like technical analysis, fundamental analysis, platforms, and more. Video guides are available as well, which can be useful.

As for the market analysis tools, there are economic calendars, calculators, VPS, and market news insights.

Plexytrade Customer Support

From customer support options, the broker supports all important ones like live chat, email, and phone channels. The live chat is built into the website of Plexytrade and offers immediate assistance, which is crucial. The broker is not multilingual, which is a considerable drawback.

Plexytrade bonuses and promotions

As a young Forex broker, Plexytrade has promotional offerings. There is a 120% cash bonus, a 100% tradeable bonus, and Titans competition.

The 120% cash bonus allows traders to get up to $24,000 with deposits, starting from 200 USD, meaning traders need to deposit at least 200 dollars.

The 100% tradeable bonus, on the other hand, is credited during registration and requires $a $250 minimum deposit. Up to 1,000 USD can be received using this bonus and only on one trading account per user.

The Titan competition is a trading contest where traders compete for a share of $6750 in prizes. The first place receives a 3,000 USD cash prize.

Is Plexytrade your broker? Final verdict

Plexytrade is a new FX broker that was launched in 2023. It offers competitive account types, high leverage, and multiple platforms including MT4 and MT5. While it provides flexible trading conditions and promos, it lacks regulations and supports limited payment options.

Since unregulated brokers are risky, we advise our readers to exercise extreme caution when dealing with this broker.

FAQs on Plexytrade broker

Where is Plexytrade based?

Plexytrade is registered and located in Saint Lucia, which is transparently disclosed on its website.

Can you withdraw from Plexytrade?

The broker claims 1-2 business days withdrawals, but can not confirm it actually allows withdrawals.