OnePlusFx

OnePlusFx is a retail forex and CFD broker registered in Malaysia, with a registered address at 1-23A, 1st Floor, Paragon, Jalan Mustapha, 87000 Labuan F.T. The company was founded on 17 November 2021, making it a relatively young entrant to the online trading space. Its official domain is oneplus-fx.com.

According to our records, OnePlusFx holds a CySEC Forex Execution License (STP) with licence number 338/17, issued in Cyprus. However, the status of this licence is not specified in our files. The broker reports zero employees on its books, which is an unusual characteristic for a regulated entity and may warrant further scrutiny.

OnePlusFx's regulatory profile is anchored by a single CySEC licence, number 338/17, for a Forex Execution License (STP) in Cyprus. CySEC is a well-known European regulator, but the licence status is listed as indeterminate in our records. We cross-checked the licence number against the public register, but the status remains unclear.

It is important to note that the broker is registered in Malaysia, yet its licence is from Cyprus. This cross-border arrangement is not uncommon, but traders should verify the licence's validity and the broker's compliance with local regulations. The absence of a clear licence status is a point of caution.

OnePlusFx offers four distinct account types, each tailored to different trading preferences and capital levels. The BT-STANDARD account requires a minimum deposit of 25 USD, making it accessible to beginners, with maximum leverage of 1:500 and spreads starting as low as 2.0 pips (floating). The BT-ADVANCED account, with a minimum deposit of 500 USD, offers tighter spreads from 1.5 pips and the same leverage.

For more experienced traders, the BT-PRO account demands a minimum deposit of 1,000 USD, while the BT-ECN account requires 1,250 USD. Both offer raw spreads from 0.0 pips (floating) and leverage up to 1:500. Commission details are not disclosed in our records for any account type. This tiered structure allows traders to choose based on their budget and trading style.

All account types at OnePlusFx offer maximum leverage of 1:500, which is on the higher end of the spectrum and can amplify both gains and losses. The spreads are described as 'floating', meaning they can vary with market conditions. The BT-PRO and BT-ECN accounts boast spreads as low as 0.0 pips, which is typical for ECN or raw-spread accounts, though commissions may apply separately.

Our records do not specify the trading platforms, instruments, or funding methods available. This lack of detail makes it difficult to assess the full trading environment. Traders should seek clarification from the broker directly before committing funds.

FXCanary's Scam Risk Score for OnePlusFx is 44 out of 100, indicating a 'Guarded' level of risk. A notable risk flag is that withdrawal complaints appear in approximately 33% of recent reviews, which is a significant proportion. This suggests that some clients have experienced difficulties with withdrawals, a common red flag in the forex industry.

Given the limited independent information available and the absence of user reviews on our platform, traders should approach OnePlusFx with caution. The combination of a young company, zero employees on record, and withdrawal complaints warrants thorough due diligence before opening an account.

OnePlusFx appears to target both novice and experienced retail traders, given the range of minimum deposits from 25 USD to 1,250 USD. The lower-tier accounts are accessible to beginners, while the higher-tier accounts with raw spreads may appeal to scalpers and high-frequency traders.

However, the broker's regulatory ambiguity and the risk flags mean it is not suitable for risk-averse investors. It may be more appropriate for traders who are willing to conduct additional research and accept a higher level of risk.