What is Plusonetrade？
Plusonetrade, founded in 2015, is an Online Trading Brokerage Firm headquartered in Saint Vincent and the Grenadines. Over the past three years, Plusonetrade claims to have grown to a group of companies serving more than 10,000 clients in 42+ countries. However, it operates without regulation from any recognized financial oversight body, indicating elevated risk for clients.
In our upcoming article, we will present a comprehensive and well-organized evaluation of the broker's services and offerings. If you are interested in it, it's a good idea to delve deeper into the article for valuable insights. By the end of the article, we will provide a concise summary of the broker's key characteristics.
Pros & Cons
Pros:
Available demo account: Plusonetrade offers demo accounts, which allows users to practice trading without risking real money. This is beneficial for beginners or those who want to test the platform.
Multiple account types: Plusonetrade offers five account types, which are Silver, Gold, Platinum, Exclusive and Pro, providing users with the flexibility to choose an account that suits their trading needs.
Multiple trading platforms: Plusonetrade offers two trading platforms, MetaTrader 5 and Webtrader, which can cater to the diverse needs of different demographics.
Cons:
No regulation: Plusonetrade is not regulated. Lack of regulation may lead to non-compliance, exposing users to variaties of risks. Some unregulated trading platforms may introduce high-risk and high-leverage investment products, making users more susceptible to significant losses.
Is Plusonetrade Safe or Scam？
Plusonetrade currently has no valid regulation, which means that there is no regulatory bodies ensuring that trading platforms operate within a legal framework. Unregulated trading platforms may not provide sufficient safeguards to protect client funds. Clients may face the risk of losing their funds, especially in cases of financial issues or company bankruptcy.
You should exercise caution when choosing trading platforms and ensure they are subject to appropriate regulation to mitigate potential risks. Understanding the regulatory status and seeking professional advice before engaging in trading is crucial.
Market Instruments
Plusonetrade offers different market instruments in different account types, providing traders with a variety of options to choose from. The availability of different market instruments across account types can enhance the flexibility and adaptability of traders, enabling them to explore various financial markets and diversify their portfolios. Traders have the opportunity to engage in trading activities involving Forex, Metals, Indices, Shares and Crypto, among other instruments, depending on the specific offerings of Plusonetrade.
Account Types
Silver: Plusonetrade offers Silver account, with minimum deposit requirements of $200. It is suitable for beginners who want to start trading with smaller amounts of capital.
Gold: It is designed for traders who have some experience in trading and are looking to expand their trading skills. The minimum deposit requirement is $1500.
Platinum: The minimum deposit requirement for this account is $5000. The Platinum account is designed formore experienced traders who want to take advantage of advanced trading tools and features.
Exclusive: The Exclusive account is designed for traderswho require a high level of customization and advanced trading tools. The minimum deposit requirement for this account is $10000.
Pro: The Pro account is the highest level of account offered by Plusonetrade and is designed for professional traders. The minimum deposit requirement for this account is $25000.
Leverage
Plusonetrade offers leverage options on each of its account types, which allows traders to magnify their trading potential. Leverage refers to how much a trader can borrow from the broker to trade with, enabling them to control larger positions than their trading capital alone would allow.
Using high leverage means taking a larger position in the market with a relatively small amount of capital. This amplifies both potential gains and losses. While high leverage provides the potential for larger profits, it is not suitable for everyone, especially inexperienced traders. It requires a deep understanding of the markets, risk management, and the ability to make quick decisions.
Spreads & Commissions
Spreads refer to the difference between the buying and selling prices of a financial instrument. This difference is essentially the cost incurred by traders when entering a market. Spreads are influenced by market liquidity, supply and demand. They are typically expressed in basis points or as a percentage of the traded amount. Lower spreads are generally more favorable for traders as they result in lower transaction costs. Plusonetrade offers spread options on each of its account types.
Commissions are fees charged to traders by brokers or trading platforms for facilitating buy and sell transactions. Commissions can be a fixed amount or a percentage of the trade's value. Traders pay commissions as compensation for the broker's services in executing and settling trades. Different brokers and trading platforms may have varying commission structures. Plusonetrade do not charge any commission fees regardless of which option you choose.
When selecting a trading platform or broker, investors often compare the level of spreads and commissions to determine which aligns better with their trading strategy and cost considerations. Lower spreads and reasonable commission structures are generally considered more advantageous for traders.
Trading Platforms
Plusonetrade offers two trading platforms for its clients: the MetaTrader 5 and the Webtrader, each tailored to meet specific trading needs.
MeteTrader 5 offers multi-language support, multiple time frames, superb security system and direct access to real time executable prices. You can get trading signals and over 50 technical indicators to help you trade.
Webtrader can help you manage your profile, transfer funds, see the latest news and analysis, learn more about the markets and trade, all in a single browser window. And it is quick and easy to access Webtrader. Since no downloads are required, you can access it directly in your web browser.
Deposits & Withdrawals
Plusonetrade offers a wide range of payment options catering to the needs of its clients. Investors can deposit funds using methods such as Bank Transfer, Visa, MasterCard, Neteller, Skrill, Fasapay, and cryptocurrencies. The ease of transaction is further enhanced by the fact that the minimum deposit required is as low as 200 USD, with the smallest amount one can withdraw being 20 USD.
Moreover, Plusonetrade doesn't charge any transaction fees for deposits and withdrawals, keeping the cost of investment low. The deposit transactions are processed instantly, allowing investors to enter the market without delay. Withdrawal processing takes a little while-usually one day for some methods and 2-5 days for others.
Customer Service
Plusonetrade offers comprehensive customer support to its clients. Clients can reach out to Plusonetrade through various channels.
Telephone: +447476019520 or +447476019521;
Email: Support@plusonetrade.com or info@plusonetrade.com;
Live Chat: https://plusonetrade.com/contact-us/
Facebook: https://www.facebook.com/people/Plusonetradecom/100094332853031/
Instagram: https://www.instagram.com/plusonetrade_/
Conclusion
Plusonetrade is a trading platform that offers multiple market instruments for their clients. They provide demo accounts and multiple account types to suit different trading needs on two platforms.
However, considering the lack of regulation, it is crucial for traders to examine the platform's features, security measures and overall reputation in the trading community before trading with it. It is advisable to choose regulated brokers that offer higher levels of investor protection.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
