Plum Money CY Limited

Plum Money CY Limited is a Cyprus-registered investment firm operating under the official domain withplum.com. The company is part of the broader Plum brand, which offers a range of savings and investment products through a mobile app. While the exact founding date is not publicly recorded, the firm holds a licence from the Cyprus Securities and Exchange Commission (CySEC), indicating its status as a regulated Cyprus Investment Firm (CIF).

In FXCanary's assessment, Plum Money CY Limited is not a traditional forex or CFD broker. Instead, it focuses on retail investment services, including stocks, ETFs, and savings products. This distinction is important for traders seeking leveraged forex trading, as Plum's offerings are oriented toward long-term investing rather than speculative trading.

Plum Money CY Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) under a CIF licence. The licence number is 407/21, and its status is listed as Authorised. This regulatory oversight means the firm must comply with MiFID II requirements, including client money segregation and reporting obligations.

As a member of the Investors Compensation Fund (ICF), eligible clients may be entitled to compensation if the firm fails to meet its financial obligations. However, the specific coverage limits and conditions are defined by Cypriot law and should be reviewed by potential clients.

Plum Money CY Limited offers a variety of investment products, including Cash ISAs, Stocks & Shares ISAs, and general investment accounts. The platform also provides access to money market funds and individual stock trading, with a focus on automated savings and investment features.

According to its website, Plum supports a wide range of stocks (around 3,000) and ETFs (66), with subscription tiers that adjust fees and available features. The service is app-based, designed for retail investors who prefer a mobile-first approach to managing their finances.

Plum offers four subscription tiers: Basic, Pro, Boost, and Premium. The Basic tier is free, while paid tiers range from €3.99 to €9.99 per month. Each tier provides different benefits, such as lower trading fees, access to additional features, and higher interest rates on savings.

Fees for currency conversion and trading vary by tier. For example, currency conversion fees range from 25 basis points for Basic and Pro users to 10 basis points for Premium or Max users. Trading fees also differ, with commission-free trading available on higher tiers after a certain allowance.

Plum Money CY Limited is aimed at retail investors who are looking for a simple, app-based way to save and invest. The platform's automated savings features and subscription model appeal to individuals who want to build long-term wealth without the complexity of traditional brokerage accounts.

It is not designed for active traders or those seeking leveraged forex or CFD products. The firm's focus on stocks, ETFs, and savings products positions it as a consumer fintech rather than a trading broker.

In FXCanary's assessment, Plum Money CY Limited appears to be a legitimate, regulated entity with a clear focus on retail investment services. The CySEC licence and published disclosure reports provide a degree of transparency, and the firm's membership in the ICF offers additional client protection.

However, our records indicate that there is no verifiable website or social-media presence beyond the official domain, which is a minor risk flag. While this does not suggest fraudulent activity, it does mean that independent user reviews are scarce, and potential clients should conduct their own due diligence.