PlexyTrade Review
PlexyTrade, established recently 2024 and registered (Reg. No. 2023 – 00662) in Rodney Bay Gros Islet, Saint Lucia, is an emerging brokerage with a physical presence in Podgorica, Montenegro. With its roots stemming from the very well regarded and trusted brokerage LQDFX, which has now ceased trading, PlexyTrade carries forward the expertise of its predecessor under a new brand and structure, offering a wider range of accounts and trading tools.
Quite unique among offshore brokerages, PlexyTrade is one of the very few that still offers services to U.S. clients and provides exceptionally high leverage options up to 2000:1. It also supports various trading styles such as hedging and scalping without any restrictions.
PlexyTrade offers traders the ability to trade across five different markets: Forex, Indices, Cryptocurrencies, Stocks, and Commodities. It supports trading on the MetaTrader 4 and MetaTrader 5 platforms via desktop, mobile, and web. It also has plans to introduce PAMM accounts in the near future. Handily, brokerage provides VPS packages, enhancing trading with options like the Silver package ($50/month, free with a $2000 deposit) up to the Platinum package ($110/month, free with a $25000 deposit).
Driven by a team of experienced professionals from the Fintech industry, dedicated to providing a top-tier trading experience the company emphasizes safety and security, employing STP execution for quick and reliable order processing without dealing desks or requotes. PlexyTrade offers more than 100 assets for CFD trading, boasting low commissions, raw spreads, and fast execution.
PlexyTrade's mission seems to center on delivering a value-for-money trading experience, supported by extensive market knowledge and expertise. It offers several account types, from the Micro Account to the Platinum VIP, catering to various trader needs with competitive spreads and commission structures.
While PlexyTrade is well-suited for traders looking for flexible trading conditions and a reasonably diverse market access, it does seem to lack educational resources for beginners and diverse customer support options.
Typical Spread on Majors - Live
| EUR/USD | 0.7 |
| GBP/USD | 0.8 |
| USD/JPY | 0.7 |
- Company Info
- Swap Comparison
- Volume Comparison
| Headquarters | Rodney Bay, Saint Lucia |
| Type of Broker | ECN/STP & STP |
| Founded | 2024 |
| Regulated By | Regulated By Not Regulated |
| Offices In | St Lucia, Montenegro |
| Supported Languages | English |
| ESMA Regulation ? | This broker is not regulated within the E.U and is not subject to ESMA's new Forex and CFD trading restrictions. To find out more about these restrictions, please see this article |
| Currencies Swap | |||
|---|---|---|---|
| Short | Long |
Type
| |
| Swap Chart for EURUSD for different FX Brokers |
|---|
| Change Currency | ||||
|---|---|---|---|---|
| Volume | ||||
| AUDCAD | 146 | |||
| AUDCHF | 140 | |||
| AUDJPY | 194 | |||
| AUDNZD | 128 | |||
| AUDUSD | 122 | |||
| CADCHF | 86 | |||
| CADJPY | 178 | |||
| CHFJPY | 125 | |||
| EURAUD | 167 | |||
| EURCAD | 158 | |||
| EURCHF | 47 | |||
| EURGBP | 75 | |||
| EURJPY | 180 | |||
| EURNZD | 133 | |||
| EURUSD | 90 | |||
| GBPAUD | 217 | |||
| GBPCAD | 202 | |||
| GBPCHF | 184 | |||
| GBPJPY | 263 | |||
| GBPNZD | 184 | |||
| GBPUSD | 143 | |||
| NZDCAD | 135 | |||
| NZDCHF | 160 | |||
| NZDJPY | 177 | |||
| NZDUSD | 112 | |||
| SGDJPY | 89 | |||
| USDCAD | 107 | |||
| USDCHF | 82 | |||
| USDHKD | 11 | |||
| USDHUF | 103 | |||
| USDJPY | 124 | |||
| USDSGD | 63 | |||
| XAUUSD | 283 | |||
| XAGUSD | 137 | |||
| BTCUSD | 95 | |||
| ETHUSD | 130 | |||
| XRPUSD | 20 | |||
| LTCUSD | 80 | |||
| Volume Chart |
|---|
- Account Details
| Account Currencies | USD, EUR |
| Minimum Deposit | $50 |
| Traders from USA Allowed | Yes |
| Clients Funds Segregated | Yes |
| Interest on Margin | No |
| Islamic Accounts | Yes |
| Islamic Account Restrictions | Anyone |
| ECN / STP Accounts Offered | Yes |
| Commission on STP or ECN | $2 / Lot per side (Gold Raw Account), $1 / Lot per side (Platinum VIP Account) |
| VIP Accounts Offered | Yes |
| VIP Account Requirements | $10,000 Minimum Deposit |
| Mini Accounts Offered | Yes |
| PAMM / MAM Solutions | No |
| API Solutions | No |
| Mobile Trading | Yes |
| Web Based Trading | Yes |
| Funding Methods | Confirmo, Bitcoin, Tether, Ether, Litecoin, Ripple, Cardano, Bitcoin Cash, Crypto |
| Withdrawal Methods | Confirmo, Bitcoin, Tether, Ether, Litecoin, Ripple, Cardano, Bitcoin Cash, Crypto |
- Platform Details
| Platforms Offered | MetaTrader 4, MetaTrader 4 iOS, MetaTrader 4 Android, MetaTrader 5, MetaTrader 5 iOS, MetaTrader 5 Android |
| NO of Pairs | 41 |
| Cryptocurrency Trading | Yes |
| Pricing Digits | 5 |
| Trade off Charts | Yes |
| One-click Execution | Yes |
| Email Alerts | Yes |
| Mobile Alerts | Yes |
| Trading Server Time | GMT |
| Demo Account Expiry | Non-Expiring |
| VPS Offered | Yes |
| Free VPS Conditions | Free if you meet certain deposit thresholds. $2000 minimum deposit. |
- Trading Details
| Dealing Desk | No |
| Maximum Leverage | 2000:1 |
| Minimum Contract Size | 0.01 |
| Execution | Market Excecution |
| Hedging | Yes |
| Scalping | Yes |
| Scalping Restrictions | No |
| Option of OCO | No |
| Option of FIFO | No |
| Negative Balance Protection | Yes |
- Additonal Instruments
| CFD's | Yes |
| Metals | Yes |
| Oil | Yes |
| Stocks | Yes |
| Indices | Yes |
- Currencies Swap
| Short | Long | Type  |
|
| AUDCAD | -0.74 | -2.68 | 0 |
| AUDCHF | -6.16 | 3.40 | 0 |
| AUDJPY | -7.19 | 3.28 | 0 |
| AUDNZD | -0.29 | -5.05 | 0 |
| AUDUSD | 0.66 | -2.98 | 0 |
| CADCHF | -7.34 | 4.60 | 0 |
| CADJPY | -9.11 | 4.70 | 0 |
| CHFJPY | 2.36 | -8.07 | 0 |
| EURAUD | -0.40 | -5.40 | 0 |
| EURCAD | 1.10 | -6.04 | 0 |
| EURCHF | -8.68 | 4.56 | 0 |
| EURGBP | 1.60 | -4.50 | 0 |
| EURJPY | -9.20 | 3.64 | 0 |
| EURNZD | 2.16 | -10.76 | 0 |
| EURUSD | 2.65 | -6.05 | 0 |
| GBPAUD | -7.54 | 1.04 | 0 |
| GBPCAD | -4.90 | -0.54 | 0 |
| GBPCHF | -14.34 | 8.93 | 0 |
| GBPJPY | -17.95 | 9.86 | 0 |
| GBPNZD | -4.68 | -4.53 | 0 |
| GBPUSD | -0.97 | -2.33 | 0 |
| NZDCAD | -2.94 | -0.93 | 0 |
| NZDCHF | -7.18 | 3.90 | 0 |
| NZDJPY | -9.16 | 4.30 | 0 |
| NZDUSD | -1.00 | -1.55 | 0 |
| SGDJPY | 1.14 | -8.52 | 0 |
| USDCAD | -4.19 | 0.38 | 0 |
| USDCHF | -11.51 | 7.43 | 0 |
| USDHKD | -54.58 | 8.28 | 0 |
| USDHUF | 22.05 | -53.53 | 0 |
| USDJPY | -1.38 | -1.38 | 0 |
| USDSGD | -10.19 | 1.34 | 0 |
| XAUUSD | -1.50 | -38.52 | 0 |
| XAGUSD | -0.24 | -0.48 | 0 |
| BTCUSD | -10.00 | -10.00 | 2 |
| ETHUSD | -10.00 | -10.00 | 2 |
| XRPUSD | -10.00 | -10.00 | 2 |
| LTCUSD | -10.00 | -10.00 | 2 | Compare Swap rates from other Brokers |
FAQ
Is PlexyTrade an ECN broker?
PlexyTrade offers ECN order processing with its Gold Raw Account and Platinum VIP Account. All other account types get STP processing.
Where is PlexyTrade located?
PlexyTrade's registered address location is in Rodney Bay, Saint Lucia. PlexyTrade has a physical office located in Podgorica, Montenegro.
What is the minimum deposit requirement at PlexyTrade?
PlexyTrade requires a minimum deposit of $50, this is for its Micro Account. The minimum deposit increases with the rest of the accounts that PlexyTrade offers, all the way to $10,000 with the Platinum VIP Account.
Does PlexyTrade accept deposits from PayPal?
No, PlexyTrade does not accept PayPal deposits. PlexyTrade accepts deposits in Bitcoin, Bitcoin Cash, Tether, Litecoin and various other cryptocurrencies.
What is the maximum leverage offered by PlexyTrade?
PlexyTrade offers a maximum 2000:1 leverage. This is amongst the highest leverages offered by forex brokers.
Does PlexyTrade accept US clients?
Yes! PlexyTrade does accept US residents as clients. They are one of a very few offshore brokers that still service US clients.
Does PlexyTrade allow scalping?
Yes. PlexyTrade can employ any type of trading method or trading strategy. That includes scalping, hedging, and automated trading.
What trading platforms does PlexyTrade offer?
PlexyTrade offers clients a choice of the MetaTrader 4, MetaTrader 5 trading platforms. Both platforms are accessible as a downloadable desktop program, a web trader program, or through a mobile app.
Does PlexyTrade offer PAMM?
No, currently they do not offer PAMM, however they will be in the near future.
Does PlexyTrade have Negative Balance Protection?
Yes, PlexyTrade does have Negative Balance Protection for all its accounts. As an additionaly safety measure, clients funds are also held in segregated accounts.
Does PlexyTrade have Swap Free Accounts?
Yes, PlexyTrade does have swap free accounts (also called Islamic accounts) and they are available to any trader.
Is VPS available at PlexyTrade?
Yes, PlexyTrade offers a number of VPS packages which start from $50 per month, however they are free once certain deposit thresholds are met. The basic VPS package is free with a minimum deposit of $2000.
PlexyTrade Reviews
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