Verdict up front: the UK Financial Conduct Authority has warned that PlexyTrade is an unauthorised firm and told the public to “avoid dealing with this firm and beware of scams”. Yet PlexyTrade still buys the top “featured” slot on Forex Peace Army, one of the best-known broker review sites, advertising a 120% bonus up to $24,000. A trusted-looking page is not the same as a trusted broker.
PlexyTrade
READ THIS BEFORE YOU INVEST 👉
Prime Markets Review: Regulation Concerns, Unregulated Broker
Plexy Trade Ltd · plexytrade.com
FCA WARNED
- FCA warning
- 27 August 2025
- Domain registered
- 9 June 2016 (about 10 years)
- Company registered
- Saint Lucia, No. 2023-00662
- Regulator named
- None
The FCA warning
On 27 August 2025 the FCA added PlexyTrade to its warning list of unauthorised firms. The regulator says the firm “may be providing or promoting financial services or products without our permission”, and that anyone who deals with it will have no access to the Financial Ombudsman Service or the FSCS if something goes wrong.
The notice names the website www.plexytrade.net. That domain is no longer registered: when we checked on 21 September 2026 it did not exist. The brand now trades from plexytrade.com, which is live.
Why it looks trustworthy
Search for a forex broker on Forex Peace Army and the first two cards on its broker list are paid, featured placements. On the day we checked, one of them was “PlexyTrade – 120% Bonus up to $24,000 for New Trading Accounts”, with an affiliate-tracked link to plexytrade.com. Its rating beside the ad: 3.0 from just 5 reviews.
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Forex Peace Army states that advertising buys banner space, not ratings. We take that at face value. But the effect for a new trader is the same: the first broker they see is one a regulator has already warned about. That is the gap this page is here to close.
What the website says about itself
The footer of plexytrade.com, read on 21 September 2026, says financial services are provided by Plexy Trade Ltd, registered at Rodney Bay, Gros Islet, Saint Lucia, company number 2023-00662, with a physical office in Podgorica, Montenegro.
Three things stand out:
- No regulator is named. A Saint Lucia company number is a business registration, not a licence to handle investors’ money.
- The domain is older than the company. plexytrade.com was registered in June 2016; the company number dates from 2023. An older domain makes a new brand look established.
- Bonuses everywhere. The menu lists a 120% Cash Bonus, a 100% Tradeable Bonus, a trading competition and cashback of up to $2 per lot. Large deposit bonuses are banned for retail clients in the UK and EU because they lock money in and push people to trade more.
| Check | What we found |
|---|---|
| FCA status | Warning list, 27 Aug 2025 — unauthorised |
| Domain age | plexytrade.com, registered 9 Jun 2016 |
| Domain named by the FCA | plexytrade.net — no longer registered |
| Company | Plexy Trade Ltd, Saint Lucia, No. 2023-00662 |
| Office | Podgorica, Montenegro |
| Licence shown | None |
| Headline offer | 120% bonus up to $24,000 |
What this means for you
If you deposit with an unauthorised firm and cannot get your money back, there is no ombudsman to complain to and no compensation scheme behind you. Bonus money usually comes with volume targets, so withdrawals can be refused until you have traded far more than you deposited.
Before you fund any broker account
- Search the name on the FCA warning list and your own regulator’s register. A warning on any spelling or domain of the brand counts.
- A featured spot is an advert. It tells you who paid, not who is safe.
- Look for a licence number you can check, not a company registration number.
- Treat a bonus over 100% as a warning sign, not a reward.
- Check the domain’s age against the company’s age. A mismatch is worth asking about.
Ettran Reclaim Limited
Deposited with PlexyTrade and can’t withdraw? That is exactly what we handle.
or email support@ettran.com
Our view: PlexyTrade is on the FCA’s warning list, names no regulator, and leads with a 120% bonus. A paid place at the top of a review site does not change any of that. Keep your money away from it.
Sources, checked 21 September 2026: FCA warning list, “PlexyTrade”, 27 August 2025 (fca.org.uk/news/warnings/plexytrade) · plexytrade.com footer and menu · Verisign RDAP registry records for plexytrade.com and plexytrade.net · Forex Peace Army broker list, featured placements.
