Plexytrade and Midasfx are two popular offshore forex and CFD brokers that offer online trading services to traders and investors worldwide. Both brokers accept U.S. clients and provide trading facilities with no FIFO rule, high leverage, low fees, and tight spreads without restrictions. Although these brokers offer similar services, each has its strengths and weaknesses.
In this article, we will compare and review Plexytrade and Midasfx by exploring their trading conditions, instruments, minimum deposits, fees, features, and customer support. This comparison and research will help you determine which broker is better suited to your trading style and preferences.
PlexyTrade vs MidasFX: In a Nutshell
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.
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
MidasFX
Founded in 2020, MidasFX is an online forex and CFD broker. It is an offshore forex broker that offers 100+ trading instruments including forex, metals, energies, stock indices, and cryptocurrencies to traders worldwide. The broker allows all trading styles including scalping, hedging, news trading, etc. The maximum leverage of MidasFX is as high as 1:1000.
MidasFx Overview
- Founded In: 2020
- Headquarters: Saint Vincent and the Grenadines
- Minimum Deposit: $1
- Maximum Leverage: 1:1000
- Regulations: None
- Trading platform:MT4, MT5
- Account Types: Raw spread (ECN) and spread-only (STD) accounts on both MT4 and MT5.
- Payment Options: Steller, Instacoins, Ethereum, Litecoin, Bitcoin
- US Traders: Accepted
PlexyTrade vs MidasFX: Side By Side Comparison
PlexyTrade vs MidasFX: Pros and Cons
PlexyTrade Pros & Cons
- 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
- Unregulated offshore forex broker
- Only Crypto Deposit and Withdrawal Option
- A limited number of tradable assets
MidasFX Pros & Cons
- No Minimum Deposit- You may deposit as low as $1
- Allow Crypto CFD Trading
- Demo Accounts are Available
- Higher Leverage for US, and EU clients. Maximum leverage is as high as 1:1000
- Allow Scalping, EA Trading, and News Trading
- MidasFX Accepts Crypto Deposits
- Unregulated offshore forex broker
- Limited Deposit and Withdrawal Option
- No Managed Account Options
Final Thoughts:
Plexytrade and MidasFX are unregulated offshore forex and CFD brokers in the industry. They offer similar trading services; they both allow scalping, hedging, EA trading, and Copy trading EA. The minimum order size for both of them is 0.01
However, there are a few areas where you may find some differences. For example, Plexytrade supports both MT4 and MT5 trading platforms. On the other hand, MidasFX also support the MetaTrader (MT4/MT5) trading platform. The minimum deposit for Plexytrade is $50, whereas the minimum deposit for MidasFX is $1. Additionally, the maximum leverage for Plexytrade is 2000:1, while the maximum leverage for MidasFX is 1000:1. Plexytrade has passive investment programs like MAM and PAMM, while MidasFX does not have such programs.
Our score for Plexytrade is 4.5, and for MidasFX, it is 4.4 So, If you are looking for a high-leverage offshore broker with Metatrader (MT4/MT5) trading platform you may choose Plexytrade. However, If you want to use an offshore broker that offers similar trading services to Plexytrade, you may choose MidasFX.
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
