Does Plexytrade Accept US Clients as of 2024? 

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US traders always look to trade with a suitable forex broker. The country has strict regulations in forex trading. As a result, the majority of online forex brokers do not accept US clients because they can not meet the regulatory requirements of the US authorities. High leverage and CFD trading are restricted in the USA. However, many forex traders still opt for trading CFDs with high leverage. That is why many traders settle for offshore forex brokers. 

Plexytrade is an online offshore forex broker that is not authorized or regulated by any authority anywhere; so it is not under any obligation to abide by the rules guiding US-regulated brokers. In this blog post,  we will explore whether Plexytrade accepts US clients, its pros and cons, and why US traders choose brokers like Plexytrade.

Does Plexytrade Accept Clients?

Yes, Plexytrade accepts US Clients. Being an unregulated online forex broker, the broker has the flexibility to onboard clients from various locations worldwide, including the USA. Therefore, US traders are able to register for an account and trade forex and CFD trading with Plexytrade.

Plexytrade at a Glance

Plexytrade at a Glance
  • Founded Year: 2024
  • Headquarters: Rodney Bay Gros Islet, Saint Lucia
  • Minimum Deposit: $50
  • Maximum Leverage: 1:2000
  • Regulations: None (Unregulated Offshore Broker) 
  • Trading platform: MT4, MT5
  • Account Types: Micro, Silver, Gold Raw, Platinum VIP
  • Trading Style: Scalping, Hedging, Swing Trading, Day Trading, Automated Trading
  • Payment Options:  Cryptocurrencies, Bitcoin
  • US Traders: Accepted 

Why Do US Citizens Use Offshore Brokers Like Plexytrade?

Below are some of the reasons why a US trader will choose to trade with Plexytrade :

CFD trading:

Contracts for differences (CFDs) are financial contracts between a broker and a trader which allows the trader to take positions on the broker’s platform and speculate on the price direction of underlying financial assets without ownership. For example, with CFDs, a trader can make money by predicting the price direction of a company’s stock market shares without owning the company shares.

Unfortunately, the regulators officially prohibited US traders from trading CFDs. However, Plexytrade gives US traders opportunities to trade CFDs from stocks, indices, and commodities.

High leverage:

Leverage is a tool that multiplies a trader’s market exposure in relation to his deposit. US traders are mandated to restrict forex leverage to 1:50 but Plexytrade offers up to 1: 2000. This means that with a deposit of $500; you can open positions worth $1000000. With higher leverage, there is a higher chance of making more profits provided that the market moves in favor of your position.

Low trading capital:

With Plexytrade, US traders can start trading with $50 but US-regulated brokers demand a higher minimum deposit. Also, the trading fees and commissions are much lower with Plexytrade than with the US-regulated brokers. Perhaps, because obtaining and maintaining a US forex broker license is very expensive.

Tax:

The United States has stringent tax laws which are almost impossible to evade. Forex traders are required to pay taxes on their profits. Trading with unregulated brokers like Plexytrade makes it easier to pay reduced taxes especially if BTC is used to fund and withdraw from the trading account.

Pros and Cons of Plexytrade:

Pros :

  • The maximum leverage is as high as 1:2000 ( Leverage may vary based on account types and tradable asset types) 
  • Allow Crypto CFD Trading 
  • The maximum lot size is as high as 1000 lot 
  • Raw spread starting from as low as 0.0 pips 
  • Offers MT4, and MT5  trading platforms (Desktop, Web, mobile version) 
  • Demo Accounts are Available 
  • Higher Leverage for US, and EU clients. 
  • Allow Scalping, EA Trading, and News Trading 
  • Plexytrade Accepts Crypto Deposits

Cons:

  • Unregulated offshore forex broker 
  • Only Crypto  Deposit and Withdrawal Option 
  • A limited number of tradable assets 

Which countries are restricted on Plexytrade

As Plexytrade is an unregulated offshore forex broker. It can onboard clients from anywhere in the world. Currently, the broker does not have any restricted county list on its website. so it accepts clients from all over the world. 

Frequently Asked Questions (FAQs)

What is Plexytrade?

Founded in 2024, Plexytrade is an online forex and CFD broker. It is an unregulated forex broker that offers 100+  instruments ranging from all the major Cryptos, Forex, Commodities, and Global Indices to traders worldwide. The broker allows all trading styles including scalping, hedging, news trading, etc. The maximum leverage of Plexytrade is as high as 1:2000. 

Is Plexytrade Regulated in the USA?

No. Plexytrade is not regulated in the USA. It is an unauthorized offshore forex broker.

Does Plexytrade have an office in the USA?

No, Plexytrade does not have an office in the USA. As per their website, the broker is located in Montenegro. 

Where is Plexytrade located?

Plexytrade is registered in St. Lucia. However, it has a physical office in Montenegro 

  1. Top Floor, Rodney Court Building, Rodney Bay Gros Islet, Saint Lucia
  2. 2. Dzordza Vasingtona No.38, PD 232, Podgorica, 81000, Montenegro

Plexytrade is located in Vistra Corporate Sevices Centre, Suite 23, 1st Floor, Eden Plaza, Eden Island, Mahe, Republic of Seychelles

Can Americans use Plexytrade?

Yes, American traders can use Plexytrade. However, traders should take care while trading with unregulated forex broker

Final Thoughts :

Plexytrade is a forex broker that offers online forex and CFD trading services. The broker gives access to trade with a wide range of trading instruments including Forex (Major, minor, exotic), indices, commodities ( metal, energies, agriculture), and Stocks ( US stocks, EU Stocks). The broker allows almost all trading styles including scalping, hedging, copy trading, and news trading. 

Plexytrade allows US clients to enjoy forex trading services on their own terms. If you like high leverage, Plexytrade offers leverage up to 1:2000 Traders are allowed to use any strategies including scalping, hedging, news trading, and so on. Unlike US-regulated brokers, Plexytrade offers CFD trading. The broker uses MT4, and MT5 as its trading platform.  Moreover, the broker is also going to offer PAMM accounts soon. 

Disclaimer: Trading forex and CFDs comes with the risk of losing your trading capital. Moreover, trading with offshore forex brokers puts your funds at higher risks

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

DisclosureAt Brokersway we're committed to delivering unbiased information. our opinions are our own and are not influenced by the payment we receive from our advertising partners. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money.

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