PlusONE Forex Broker

PlusOne Forex Broker - Complete Information Guide

1. Broker Overview

PlusOne Trade Inc., commonly referred to as PlusOne broker, was established in 2015. The company is headquartered in Mauritius, a location that has raised concerns regarding regulatory oversight and investor protection. PlusOne is a privately held entity that primarily serves retail clients across various global markets, focusing on forex and CFD trading.

Since its inception, PlusOne broker has aimed to provide a diverse range of trading products and services to its clients. The company claims to have expanded its operations significantly, serving over 10,000 clients in more than 42 countries. However, the lack of robust regulatory oversight has led to skepticism about its operational integrity.

PlusOne broker operates under a business model that includes retail forex trading, offering various account types to cater to different trading needs. The firm has also established a presence in the CFD market, providing clients with access to various financial instruments, including commodities, indices, and cryptocurrencies.

2. Regulatory and Compliance Information

PlusOne broker operates without regulation from any recognized financial oversight body, which is a significant concern for potential investors. The company claims to be regulated by the FSCM (Financial Services Commission of Mauritius), but this regulatory framework is often viewed as inadequate compared to more stringent jurisdictions.

The lack of a valid regulatory license raises questions about the safety of client funds. PlusOne broker does not participate in any investor compensation schemes, which means that clients may have limited recourse in the event of financial disputes or insolvency. The companys KYC (Know Your Customer) and AML (Anti-Money Laundering) measures are reportedly in place, but the effectiveness and enforcement of these policies remain unclear.

Furthermore, clients should be aware that investing with unregulated brokers like PlusOne broker carries significant risks. The absence of regulatory oversight means that investors may not have the same protections as they would with regulated entities, potentially exposing them to higher risks of fraud and mismanagement.

3. Trading Products and Services

PlusOne broker offers a variety of trading products, primarily focusing on forex and CFDs. The company provides access to a substantial number of forex currency pairs, including major, minor, and exotic pairs. Additionally, PlusOne broker offers CFD trading on various asset classes, including:

• Indices: Major global indices such as the S&P 500, NASDAQ, and FTSE 100.
• Commodities: Popular commodities like gold, silver, oil, and agricultural products.
• Cryptocurrencies: A selection of cryptocurrencies, allowing clients to trade popular digital assets.

The firm frequently updates its product offerings, although specific details regarding new instruments are not readily available. Retail trading services are the primary focus, but PlusOne broker also claims to offer services tailored for institutional clients, although details on this aspect are limited.

4. Trading Platforms and Technology

PlusOne broker supports the MetaTrader 5 (MT5) trading platform, which is well-regarded for its advanced trading capabilities and user-friendly interface. The broker also offers a web-based trading platform, enabling clients to trade directly from their browsers without the need for software downloads.

In addition to the desktop platforms, PlusOne broker provides mobile trading applications for both iOS and Android devices, allowing traders to manage their accounts and execute trades on the go. The execution model employed by PlusOne broker is not explicitly stated, leading to uncertainty regarding whether it operates as an ECN (Electronic Communication Network), STP (Straight Through Processing), or Market Maker.

The firms technical infrastructure includes servers located in the United States, which is crucial for ensuring fast trade execution and minimizing latency. Furthermore, PlusOne broker supports API access, allowing for automated trading solutions, although specific details regarding this service are not extensively covered.

5. Account Types and Trading Conditions

PlusOne broker offers several account types to accommodate different trading preferences and capital levels. The account types include:

• Basic Account: Minimum deposit of $250, designed for beginner traders.
• Gold Account: Requires a minimum deposit of $1,500, offering additional features.
• Platinum Account: Aimed at more experienced traders, with a minimum deposit of $5,000.
• VIP Account: For professional traders, requiring a minimum deposit of $25,000.

The broker's trading conditions vary by account type, with spreads starting from 3 pips for the basic account and reducing to 0.2 pips for the VIP account. Importantly, PlusOne broker does not charge commissions on trades, which can be advantageous for frequent traders.

Leverage options are available, ranging from 1:100 for basic accounts up to 1:1000 for professional accounts, allowing traders to magnify their trading potential. The minimum trade size and overnight fees are not explicitly detailed, which may be a consideration for potential clients.

6. Fund Management

PlusOne broker supports a variety of deposit methods, including bank transfers, credit cards, and popular e-wallets. The minimum deposit requirement varies by account type, with the basic account starting at $250.

Deposits are processed relatively quickly, typically within 1-2 business days, and there are no fees associated with deposits. However, withdrawal methods and restrictions are not clearly outlined, which may raise concerns for clients looking to manage their funds effectively.

Withdrawals generally take 1-5 business days depending on the method used, and while the broker claims to have no withdrawal fees, this information should be verified directly with the firm. The lack of transparency regarding withdrawal policies can be a red flag for potential investors.

7. Customer Support and Educational Resources

PlusOne broker offers customer support through various channels, including telephone, email, and live chat. The service is available during regular business hours, but specific time zones and coverage details are not provided.

The broker supports multiple languages, catering to its diverse client base. Educational resources are offered, including webinars, tutorials, and e-books, aimed at helping traders improve their skills and knowledge. Additionally, PlusOne broker provides market analysis services, including daily market news and research reports, which can be beneficial for traders looking to stay informed.

Trading tools such as calculators, economic calendars, and signal services are also available, enhancing the trading experience for clients.

8. Regional Coverage and Restrictions

PlusOne broker primarily serves markets in Europe, Asia, and North America, with specific regional offices in various countries. However, it is essential to note that the broker does not accept clients from certain jurisdictions, including the United States, Canada, and other regions with stringent regulatory requirements.

The restrictions are likely due to the lack of regulatory oversight and the company's operational status, which may not comply with the laws governing financial services in those countries. Clients should verify their eligibility before attempting to open an account with PlusOne broker.

In conclusion, while PlusOne broker offers a range of trading products and services, the lack of regulatory oversight and transparency raises significant concerns for potential investors. It is crucial for traders to conduct thorough research and consider the risks associated with trading through unregulated brokers.