If you are looking to read Plus365 reviews, you are in the right place. Is this broker a reliable broker? Read reviews to know about this forex broker whether to use or not.
This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
What is Plus365 FX?
Plus365 FX otherwise known as Plus365.com is an offshore brokerage with a lot of promises for forex traders. The forex company has its registered address in Abu Dhabi, UAE.
The brokerage presents on its website regulation by the Financial Services Regulatory Authority (FSRA) in Abu Dhabi Global Markets of the United Arab Emirates.
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
Plus365 Minimum Deposit
Plus365 FX does not mention its minimum deposit anywhere on its website. In contrast, licensed FX brokers clearly spell out their regulations and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
This broker also doesn’t mention anything about its payment methods. This is typical for scammers, as they usually try to hide something shady.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Withdrawal process:
Plus365 withdrawal leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
Plus365 Platform:
Plus365 openly presents its MT5 trading software. It is the best trading platform around, however, the broker does not prove trustworthy to use.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Nothing is indicated on Plus365 leverage. Honestly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
What We Discovered about Plus365.com Broker
Plus365 claims address in Abu Dhabi. However., we get, upon our first search, a Financial Services Regulatory Authority based in Ontario, Canada. Not that the broker is located there; it’s just a reminder for our readers not to think that the broker is registered or regulated there.
Furthermore, there are no legal documents anywhere on the website.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Plus365 FX Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Concluding Thoughts:
Plus365 FX located at Plus365.com claims to appear like a genuine trading broker, however, you should not take the words they say. From indications, we would advise traders to steer clear from unlicensed brokers as they likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
Was the information helpful? Please share with us your experience in the comment section below.
Heard of Actionmarkets, Forextimeprime brokers? Read Details
