Heard of fxplus500.co.uk trading platform? Really want to find more details before choosing the broker? You can carefully read the FX Plus500 reviews to know about this forex broker whether to use or not.

This post promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.

About FX Plus500

FX Plus500 otherwise known as fxplus500.co.uk is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients. 

Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices.

What We Discovered about FX Plus500 Regulation

First of, FX Plus500 claims to be licensed by a group of companies in a number of jurisdictions including the UK and Cyprus are behind this brand.

But the UK’s financial regulator explicitly warns that FX Plus500 is a scam using the details of a legitimate company.

More so, the Cypriot regulator’s database also confirms that the legitimate broker is using different domains from that of FX Plus500.

Again, the broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.

These drawbacks are 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.

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

FX Plus500 Minimum Deposit

FX Plus500 minimum deposit requires $10000. In contrast, some licensed FX brokers can offer clients trading rate as low as $100 with the assurance of their trading funds.

FX Plus500 offers different trading account for clients. According the account description, the broker’s leverage is capped 1:30.

As for payment methods, we were unable to ascertain what deposit options FX Plus500 uses.

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!

FX Plus500 Trading Software

FX Plus500 offers access to a fairly basic web-based trading platform. The broker’s web trader comes with some basic tools and custom indicators but nothing more advanced.

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.

Frankly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.

FX Plus500 Licensing and Regulation

Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.

Having said that, it is not far from believing that fxplus500.co.uk 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

Bottom Line:

FX Plus500 appears like a trustworthy trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed forex broker as it likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.

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