ANSWER Dear Investor,
We recommend against trading with Plexytrade due to its lack of legitimate regulatory credentials.
Plexytrade claims to be registered in Saint Lucia and to have a physical address in Montenegro. First, while we confirm that a matching company, Plexy Trade Ltd, exists in the registry of the Saint Lucia International Financial Centre (IFC), this registration merely grants it International Business Company (IBC) status. This does not constitute a valid financial license, as the IFC neither regulates nor licenses forex trading activities.
Second, we have searched the registry of the Capital Market Authority of Montenegro (SCMN) and found no information associated with the company.
In summary, Plexytrade is effectively unregulated. We strongly advise avoiding any transactions with this broker.
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