Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
PlexyTrade Pros & Cons
- Leverage up to 1:2000
- Spreads from 0 pips on select accounts
- 100+ trading instruments
- Variety of account types for different trader levels
- MetaTrader 4 and 5 support for copy trading, active trading, and algorithmic trading
- 24/5 multilingual support
- Crypto deposits and withdrawals with no deposit fees
- Offshore registration and no license
- Limited investor protection due to lack of regulation
PlexyTrade is a Forex and CFD broker offering a variety of trading instruments, including currency pairs, stocks, indices, commodities, and cryptocurrencies. The company provides brokerage services for both beginner and experienced traders, giving them access to modern platforms with automated trading support. PlexyTrade offers multiple account types with dynamic leverage, analytical tools, PAMM accounts, bonuses, and affiliate programs. The brokerage is registered in Saint Lucia.
TU Expert Verdict
PlexyTrade demonstrates moderate stability and can suit certain traders. Its conditions are acceptable, and feedback is mixed but reasonable. In my own tests, it performed adequately, though it lacks the consistency of higher-rated companies.
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PlexyTrade User Reviews
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria7 /10The trading and non-trading commissions of PlexyTrade have been analyzed and rated as having Medium fees, with a fees score of 7/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No inactivity fee
- No deposit fee
- No withdrawal fee
- Complex fee structure
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of PlexyTrade with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, PlexyTrade’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
PlexyTrade Standard spreads PlexyTrade OANDA FOREX.com EUR/USD min, pips 0.7 0.1 0.7 EUR/USD max, pips 1.3 0.5 1.2 GPB/USD min, pips Not supported 0.1 0.9 GPB/USD max, pips Not supported 0.5 1.4 RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
PlexyTrade RAW/ECN spreads PlexyTrade OANDA FOREX.com Commission ($ per lot) The commission is the fee charged by the broker for trading one standard forex lot (100,000 units of the base currency). 4 3.5 5 EUR/USD avg spread 0 0.15 0.2 GBP/USD avg spread 0.2 0.4 Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with PlexyTrade. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
PlexyTrade Non-Trading Fees PlexyTrade OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 0 0-15 0 Inactivity fee ($, per month) 0 0 15 -
Is PlexyTrade Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria3.7 /10PlexyTrade has a safety score of 3.7/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Is regulated
- Negative balance protection
- Not tier-1 regulated
- Track record of less than 8 years
PlexyTrade Regulators and Investor Protection Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level Abbreviation FSRA Full Name Financial Services Regulatory Authority Country of regulation Saint Lucia Investor Protection Fund No specific fund Regulation Level Tier-3 PlexyTrade Security Factors Foundation date - Negative balance protection YesVerification (KYC) Yes -
Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.6.1 /10PlexyTrade offers the following account options: Demo, Standard, ECN/Raw spread, Micro.
However, it does not provide a Cent account, which can be a disadvantage for beginners looking to practice with minimal risk.
- Tight spread ECN account
- Forex account with Micro lots
- Low minimum deposit
- No Cent account
- No VIP account option
PlexyTrade account types vs top competitors PlexyTrade Plus500 OANDA Standard YesYesYesECN/Raw spread YesNoYesDemo YesYesYesCent NoNoNoMicro YesNoYesSwap Free NoNoYesVIP NoNoNoManaged NoNoNoPlexyTrade accounts trading conditions
PlexyTrade offers several account types suitable for both beginner and experienced traders. Each type comes with specific features and minimum deposit requirements.
Account Types:
Account Type Description Micro. Accounts with floating spreads starting from 0.7 pips and no per-lot commission. The maximum leverage is 1:2000. The minimum deposit is $50. Silver. Accounts with leverage up to 1:500 and no trading commission. Minimum spreads start at 0.7 pips. The required initial deposit is $300. Gold Raw. Accounts featuring spreads from 0 pips and a commission of $4 per lot. The minimum deposit is $300, and leverage is up to 1:500. Platinum VIP. Accounts with the lowest commission of $2 per lot. Spreads are floating and start from 0 pips. The minimum deposit is $10,000, and the maximum leverage is 1:400. -
Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology3.8 /10PlexyTrade received a Low score for the efficiency and convenience of its deposit and withdrawal processes.
PlexyTrade offers limited payment options and accessibility, which may impact its competitiveness.
- Bitcoin (BTC) accepted
- Minimum deposit below industry average
- Low minimum withdrawal requirement
- USDT (Tether) supported
- No bank card option
- Wise not supported
- Only major base currencies available
What are PlexyTrade deposit and withdrawal options?
PlexyTrade offers a limited selection of deposit and withdrawal methods, including BTC, USDT, Ethereum. This limitation may restrict flexibility for users, making PlexyTrade less competitive for those seeking diverse payment options.
PlexyTrade Deposit and Withdrawal Methods vs Competitors PlexyTrade Plus500 OANDA Bank Wire NoYesYesBank card NoYesYesPayPal NoYesYesWise NoNoNoBTC YesNoYesWhat are PlexyTrade base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. PlexyTrade supports the following base account currencies: USD, EUR.
What are PlexyTrade's minimum deposit and withdrawal amounts?
The minimum deposit on PlexyTrade is $50, while the minimum withdrawal amount is $15. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact PlexyTrade’s support team.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria5.8 /10PlexyTrade offers a limited selection of trading assets compared to the market average. The platform supports 100 assets in total, including 41 Forex pairs.
- Copy trading platform
- Indices trading
- Crypto trading
- Bonds not available
- No ETFs
Supported markets vs top competitors
We have compared the range of assets and markets supported by PlexyTrade with its competitors, making it easier for you to find the perfect fit.
PlexyTrade Plus500 OANDA Currency pairs 41 60 68 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 100 2800 129 Stocks YesYesYesCommodity futures YesYesYesCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. YesYesYesStock indices YesYesYesOptions NoYesNoInvestment options
We also explored the trading assets and products PlexyTrade offers for beginner traders and investors who prefer not to engage in active trading.
PlexyTrade Plus500 OANDA Bonds NoNoYesETFs NoYesNoCopy trading YesNoYesPAMM investing NoNoNoManaged accounts NoNoNo -
Trading Account Opening
Score:We evaluated Trading Account Opening at PlexyTrade by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.9 /10We successfully registered an account with PlexyTrade in 10 minutes. The KYC verification was completed within 2 business days. The minimum deposit amount at PlexyTrade is $50. This is one of the most accessible and hassle-free onboarding procedures on the market.
- Fully online account opening process
- Fast registration time (up to 15 minutes)
- Low minimum deposit requirement
- Account approval may require extra time depending on the documentation.
PlexyTrade account opening PlexyTrade Plus500 OANDA Online Registration YesYesYesMinimum deposit $50 $100 $0 Mandatory KYC YesYesYesRegistration time (min) 10 10 KYC time (days) 2 3 3 Is PlexyTrade available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
Account opening details
Opening an account with PlexyTrade is straightforward and takes only a few minutes. Follow these steps:
Register on the official website.
Complete a personal information form.
Verify identity and residential address.
Fund your account and begin trading.
During registration, users select:
- Account type and base currency
- Trading platform
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Customer Support
Score:We evaluated Customer Support at PlexyTrade by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria4.2 /10The broker’s customer support shows noticeable weaknesses in responsiveness or communication quality. Delays in replies are common, and resolution may require repeated contact.
In TU testing, response speed was below expectations, and assistance was limited in depth. Traders who rely heavily on support may experience inconvenience.
InformationPlexyTrade’s customer support is available around the clock in multiple languages. Users can receive assistance Monday through Friday.
- Fast response in website live chat
- 24/5 multilingual support
- Support unavailable on weekends
- No assistance via messengers
PlexyTrade’s communication methods:
- Website live chat.
- Email.
- Contact form.
- Phone.
Contacts Registration address Registered address: Top Floor, Rodney Court Building, Rodney Bay, Gros Islet, Saint Lucia / Office address: Dzordza Vasingtona No.38, PD 232, Podgorica, 81000, Montenegro Regulation FSRA Licence number:
2023 – 00662Official site https://www.plexytrade.com Contacts support@plexytrade.com +382 68 04 3222
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FAQs
How secure is trading with PlexyTrade in terms of regulation and safety measures?
PlexyTrade has a safety score of 3.7/10, which corresponds to a low security level in this review, and it is regulated by the Financial Services Regulatory Authority (FSRA) of Saint Lucia, classified as Tier-3 regulation. The broker offers negative balance protection and requires KYC verification, but it is not Tier-1 regulated, has no specified investor compensation fund, and has a track record of less than 8 years, with its exact foundation date not specified in the section.
What commissions, spreads, and non-trading fees does PlexyTrade charge?
According to this section, PlexyTrade is rated as having medium overall fees with a score of 7/10, featuring low Forex trading fees, tight EUR/USD spreads, and no inactivity, deposit, or withdrawal fees. On Standard accounts, EUR/USD spreads typically range from 0.7 to 1.3 pips, while RAW/ECN accounts show a $4 commission per lot and an average EUR/USD spread of 0, though spreads may widen during volatile market conditions.
What do PlexyTrade user reviews and feedback indicate about client satisfaction?
PlexyTrade has a user satisfaction score of 6/10 based on 4 reviews, with 25% 4-star, 50% 3-star, and 25% 2-star ratings, and no 5-star or 1-star reviews. According to user reviews, overall sentiment is mixed rather than clearly positive or negative.
Which markets and tradable assets are available on PlexyTrade, based on platform data and user feedback?
PlexyTrade supports 100 tradable assets, including 41 currency pairs, stocks, commodity futures, cryptocurrencies, and stock indices, but it does not offer options, bonds, or ETFs. The section notes that asset selection is limited compared to the market average, although the broker does provide a copy trading platform while PAMM and managed accounts are not available.
How do reviews describe the PlexyTrade account opening process and requirements?
The account opening process at PlexyTrade is fully online, with registration taking about 10 minutes and KYC verification typically completed within 2 business days, and the minimum deposit is $50. Based on available user reviews and platform information in this section, onboarding is described as accessible and relatively fast, although account approval may require extra time depending on the documentation provided.
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