PlusMarkets Forex Broker

Aspect Information Registered Country Cyprus Founded Year 2015 Company Name UR Trade Fix Ltd (Operating as PlusMarkets) Regulation Cyprus Securities and Exchange Commission (CySEC) - License No. 282/15 Minimum Deposit Various (Depends on account type) Maximum Leverage Up to 1:300 Spreads Not specified (Lack of transparency) Trading Platforms MetaTrader 4 (MT4), WebTrader Tradable Assets Forex, Commodities, Cryptocurrencies, CFDs, Shares, Indices, ETFs Account Types Classic (Bronze, Silver, Gold), Advanced (Platinum, Premium), VIP Customer Support Limited options - Phone: +357 22000532, Email: support@plusmarkets.eu Payment Methods Bank Wire (Bank Transfer/SWIFT), VISA, MasterCard, Neteller, Skrill General Information PlusMarkets is a brand owned by UR Trade Fix Ltd established in 2015, based in Cyprus and regulated by CySEC (registration number 285/15), an online broker offering traders to buy and sell various financial instruments across different asset classes-forex, shares indices and CFDs. Regulation PlusMarkets, as an institution, is currently regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 282/15, with an effective date of regulation starting from September 28, 2015. They operate under the license type of “Straight Through Processing (STP)” and are identified as UR Trade Fix Ltd. PlusMarkets' regulatory status signifies that they comply with the financial regulations and standards set by CySEC, which is a regulatory authority in Cyprus. They are authorized to provide financial services, particularly in the area of Straight Through Processing, and can be contacted at compliance@tradeo.com. The institution's address is listed as 15 Spyrou Kyprianou, 4th Floor, Matrix Tower II, 4001 Limassol, Cyprus, with a phone number of +357 22 222 113. The expiration date of their regulatory status is not specified in the provided information. PlusMarkets may also be associated with the websites https://tradeo.com/ and www.plusmarkets.eu as part of their licensed activities. Market Instruments PlusMarkets offers a basket of instruments on offer, covering contracts for differences, forex, shares, indices, cryptocurrency and commodities. Forex: PlusMarkets allows trading in currency pairs, which is a common market for forex brokers. Traders can speculate on the price movements of major and minor currency pairs. Commodities: Traders can access commodity markets, which may include popular commodities like gold, silver, oil, and others. These commodities can be traded as CFDs (Contracts for Difference). Crypto: PlusMarkets provides access to the cryptocurrency market, allowing traders to buy and sell cryptocurrencies such as Bitcoin, Ethereum, and others. Cryptocurrency trading often includes a variety of crypto-to-fiat and crypto-to-crypto pairs. CFDs (Contracts for Difference): Contracts for Difference enable traders to speculate on the price movements of various assets without owning the underlying asset. This can include indices, stocks, and commodities, among others. Shares: PlusMarkets offers trading in shares, allowing traders to invest in publicly traded companies' stocks. Share trading can involve a wide range of companies from different industries. Indices: Traders can speculate on the performance of stock market indices, such as the S&P 500, NASDAQ, or Dow Jones, by trading index CFDs. ETFs (Exchange-Traded Funds): Exchange-Traded Funds represent a collection of assets, such as stocks or bonds. PlusMarkets provides the opportunity to trade ETFs, offering diversification within a single investment. Pros and Cons PlusMarkets offers a regulated trading environment, a range of market instruments, and access to popular trading platforms. However, it lacks transparency in trading costs and fees, offers limited customer support options, and falls short on educational resources. Pros Cons Regulated by CySEC Lack of transparency on spreads and commissions Diverse range of market instruments Limited customer support options Access to MetaTrader 4 and web-based platform Absence of comprehensive educational resources Maximum leverage of up to 1:300 Multiple deposit methods available In summary, PlusMarkets has strengths in terms of regulation, market instrument diversity, and platform accessibility. However, it falls short in terms of transparency, customer support options, and educational resources, which can be limiting for traders looking for a well-rounded trading experience. PlusMarkets Minimum Deposit PlusMarkets has three main account categories. These include Classic, Advanced, and VIP. Each of these categories has different account types. These account types vary depending on the investment a customer makes. According to the account options displayed on its official website, the minimum deposit to open an accounts is incredibly up to €1，000，so investor should think twice trade with this broker, in case there is a scam scheme. PlusMarkets Leverage PlusMarkets says to offer up to 1:300 in leverage to those clients who classify as professionals. Otherwise, the maximum levels provided are up to 1:30, in line with ESMAs guidelines. Spreads & Commissions In terms of spreads and commissions, PlusMarkets advertises spreads as low as 0.1 pips on majors, but this claim can not be vertified. Most regular brokers will require certain commissons if their spreads are pretty low. PlusMarkets Trading Platforms Trades are executed via the MT4 trading platform at PlusMarkets, an advanced trading platform that was launched in 2005. The platform provides traders with live quotes, real-time charts, in-depth news & analytics, tailored tutoring, as well as a host of order management tools and indicators. The MT4 trading platform is available as a desktop application for Windows and Mac computers, and a web version that can run directly on most modern web browsers — Chrome, Safari, Firefox, and Edge — without the need to download or install any additional software. PlusMarkets also provides traders with the PlusMarkets platform, which is an in-house-developed trading platform that is available in the web version. Deposits & Withdrawals Deposit Methods: Bank Wire (Bank Transfer/SWIFT): Clients can fund their trading accounts by initiating bank wire transfers, a widely used method for secure and direct transfers from their bank accounts to their trading accounts. VISA: PlusMarkets accepts VISA credit and debit cards for deposits, providing a convenient and widely recognized payment option for traders to fund their accounts. MasterCard: Similar to VISA, clients can use MasterCard credit and debit cards to make deposits, offering another familiar and accessible payment method. Neteller: Neteller is an e-wallet service that allows clients to fund their trading accounts electronically, offering a secure and efficient deposit option. Skrill: Skrill, another e-wallet solution, enables clients to deposit funds into their trading accounts electronically, providing flexibility and ease of use. Withdrawal Methods: Bank Wire (Bank Transfer/SWIFT): Withdrawals can be processed through bank wire transfers, allowing clients to transfer their funds securely to their bank accounts. VISA: PlusMarkets offers the option to withdraw funds directly to VISA cards, providing a straightforward withdrawal method for clients who initially deposited using VISA. MasterCard: Similar to VISA, clients can also withdraw funds to their MasterCard, streamlining the withdrawal process for those who used this card for deposits. Neteller: Clients can withdraw funds to their Neteller e-wallet accounts, providing a convenient and electronically efficient withdrawal option. Skrill: Withdrawals to Skrill accounts are supported, allowing clients to receive their funds in their Skrill e-wallets. Customer Support PlusMarkets support team can be reached via the following contact channels: telephone, email, online form, and Live Chat. Phone number: +357 22000532 Email: support@plusmarkets.eu Educational Resources PlusMarkets appears to lack comprehensive educational resources for its traders, which can be seen as a significant drawback for individuals looking to enhance their trading knowledge and skills. The absence of educational materials such as tutorials, webinars, or educational articles can leave traders at a disadvantage, particularly if they are new to the financial markets or seeking to improve their trading strategies. A lack of educational resources may limit the potential for traders to make informed decisions and fully understand the complexities of the markets, potentially hindering their trading success and overall experience with the broker. Summary PlusMarkets presents a mixed bag of offerings and limitations. While it boasts CySEC regulation and a range of market instruments, there are significant gaps in transparency when it comes to trading costs and fees. The tiered account system, while available, lacks specific information on spreads and commissions, leaving potential traders in the dark about their potential expenses. Moreover, customer support is limited, with only an English phone number and an email contact, which can lead to frustration when seeking timely assistance. Perhaps the most glaring drawback is the absence of comprehensive educational resources, leaving traders without essential tools to improve their skills and make informed decisions. Overall, PlusMarkets leaves much to be desired in terms of transparency and support for traders. FAQs Q: Is PlusMarkets a regulated broker？ A: Yes, PlusMarkets is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 282/15, ensuring compliance with financial regulations. Q: What is the maximum leverage offered by PlusMarkets？ A: PlusMarkets offers a maximum trading leverage of up to 1:300, allowing traders to potentially amplify their positions in the market. Q: What are the available deposit methods at PlusMarkets？ A: PlusMarkets supports various deposit methods, including bank wire transfers, VISA, MasterCard, Neteller, and Skrill. Q: Are there educational resources provided by PlusMarkets？ A: Unfortunately, PlusMarkets does not offer comprehensive educational resources, which can be a limitation for traders seeking learning materials. Q: How many trading platforms does PlusMarkets offer？ A: PlusMarkets provides access to two trading platforms: MetaTrader 4 (MT4) and a web-based platform, offering flexibility for different trading preferences.