Plexytrade Spreads, leverage, minimum deposit Revealed
WikiFX | 2024-09-04 12:11Abstract：Founded in 2016, Plexytrade provides over 100 trading instruments spanning several markets, including Forex, commodities, indices, cryptocurrencies, and stocks. Serving both amateur and experienced traders, the broker gives access to the MetaTrader 4 and MetaTrader 5 systems. But despite these, Plexytrade is unregulated, which puts traders at risk.
Founded in 2016, Plexytrade provides over 100 trading instruments spanning several markets, including Forex, commodities, indices, cryptocurrencies, and stocks. Serving both amateur and experienced traders, the broker gives access to the MetaTrader 4 and MetaTrader 5 systems. But despite these, Plexytrade is unregulated, which puts traders at risk.
Pros and Cons
| Pros | Cons |
| High leverage up to 1:2000 | Unregulated broker |
| Negative balance protection (Segregated account, Banlance Protection.etc) | High minimum deposit for Platinum VIP account ($10,000) |
| Free VPS and PAMM system |
Is Plexytrade Legit？
Being an uncontrolled broker, Plexytrade does not run under any financial regulatory control. For traders, this absence of control raises their risk since no official protection exists for their money.
The official website of Plexytrade is set in 2016,and the status of it is “OK” now.
What Can I Trade on Plexytrade？
Plexytrade offers over 100 trading instruments across various markets. Traders can trade Forex, commodities, indices, cryptocurrencies, and stocks.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Indices | ✔ |
| Cryptocurrencies | ✔ |
| Stocks | ✔ |
| ETFs | ❌ |
| Bonds | ❌ |
| Options | ❌ |
Account Types
Four live account options from Plexytrade are Micro, Silver, Gold Raw, and Platinum VIP. The broker does not offer an Islamic account but does have a demo account.
| Account Name | Min. Deposit | Max Leverage | Max Trade Size | Typical Spread | Suitable for |
| Micro Account | $50 | 1:2000 | 5 lots | 0.7 pips | Beginners |
| Silver Account | $300 | 1:500 | 50 lots | 0.7 pips | Intermediate traders |
| Gold Raw Account | $300 | 1:500 | 50 lots | 0.0 pips | Traders need raw spreads |
| Platinum VIP Account | $10,000 | 1:400 | 80 lots | 0.0 pips | Large volumes professional traders |
Plexytrade Fees
Particularly with its raw spreads and 0 charges on specified instruments, Plexytrade provides reasonable trading fees relative to industry norms.
Plexytrade Spreads and Commissions:
- Spreads: From 0.0 pip to 0.7 pips.
| Account Type | Typical Spread |
| Micro Account | 0.7 pips |
| Silver Account | 0.7 pips |
| Gold Raw Account | 0.0 pips |
| Platinum VIP Account | 0.0 pip |
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| MetaTrader 4 (MT4) | ✔ | PC, Web, Mobile (iPhone, iPad, Android) | All traders, especially beginners |
| MetaTrader 5 (MT5) | ✔ | PC, Web, Mobile (iPhone, iPad, Android) | Experienced traders |
| MT4 WebTrader | ✔ | Web Browser | Browser-based trading traders |
| MT5 WebTrader | ✔ | Web Browser | Advanced traders |
| Tradelocker | ❌ | - | - |
Deposit and Withdrawal
Plexytrade does not charge any fees for deposits or withdrawals.
| Payment Method | Min. Deposit | Processing Time |
| Confirmo | 50 USD/EUR | Instant |
| Cryptos | 50 USD/EUR | Instant |
Plexytrade Promotions
| Promotion | Details |
| 120% Cash Bonus | Up to $24,000 with deposits starting from $200 for all account types. |
| Free VPS | Available for eligible accounts, providing low-latency trading conditions. |
| PAMM System | Allows investors to allocate funds to skilled traders. |
| Demo Accounts | Free demo accounts for practice |
Customer Support
Plexytrade offers 24/5 customer support through various channels including email and phone.Also,it provides online real-time chat robots and contact form.Also,it has social media support websites.
| Contact Options | Details |
| Phone | +382 68 04 3222 |
| support@plexytrade.com | |
| Online Chat | Available on the website |
| Social Media | Facebook, Twitter, Instagram |
| Supported Language | English |
| Website Language | English |
| Physical Address | Dzordza Vasingtona No.38, PD 232, Podgorica, 81000, Montenegro |
| Live Chat | Yes |
| Contact Form | Yes |
The Bottom Line
For traders seeking reduced expenses, Plexytrade's $0 commission on particular accounts makes it suitable for them.But, notably for its Platinum VIP account, it has high minimum deposits as $10,000. Experienced traders with enough funds hoping to profit from tight spreads and sufficient trading tools will find it most suited.
FAQs
Is Plexytrade safe？
No, Plexytrade is an unregulated broker.
Is Plexytrade good for beginners？
No. It's unregulated and with high leverage as 1:2000, means it's unsuitable for new users.
Is Plexytrade good for day trading？
Yes, with tight spreads and fast execution, it is suitable for day trading.
Latest News
Revolut X Expands Crypto Exchange Across Europe, Targeting Pro Traders
WikiFXBroker Review: Is Exnova Legit?
WikiFXCapital.com Shifts to Regional Leadership as CEO Kypros Zoumidou Steps Down
WikiFXCrypto Scammer Pleads Guilty in $73 Million “Pig Butchering” Fraud
WikiFXCWG Markets Got FSCA, South Africa Authorisation
WikiFXAmazon launches Temu and Shein rival with \crazy low\ prices
WikiFXCySEC Warns Against Unauthorized Investment Firms in Cyprus
WikiFXWhy Even the Highly Educated Fall Victim to Investment Scams?
WikiFXWarning Against Globalmarketsbull & Cryptclubmarket
WikiFXFBI Raids Polymarket CEO’s Home Amid 2024 Election Bet Probe
WikiFXRate Calc
