About PLUS1TRADE
Overview
PLUS1TRADE is an online trading broker registered in Australia and based in Perth. The company was established on 21 April 2023, making it a relatively new entrant in the retail forex and CFD market. According to our records, the broker operates through the domain plus1trade.com and lists its registered address at 506 Gerling St, O’Connor WA 61444, Perth, Australia.
The broker offers trading in a range of instruments including forex, metals, indices, stocks, and cryptocurrencies. It caters to retail clients who seek leveraged exposure to financial markets through contracts for difference (CFDs).
Regulation and Licensing
Our review found that PLUS1TRADE does not hold any regulatory licences from any recognised financial authority. This absence of oversight places the broker in a high-risk category for traders who prioritise regulatory protection. Without a licence, clients have no recourse to a formal dispute resolution scheme or compensation fund.
Traders should be aware that dealing with an unregulated broker carries significant risk, including potential issues with fund safety, transparency, and fair trading practices. The lack of regulatory oversight also means that the broker is not required to meet minimum capital adequacy or client money segregation requirements.
Account Types and Trading Conditions
PLUS1TRADE provides five tiers of trading accounts: Silver, Gold, Platinum, Exclusive, and Master. The minimum deposit requirements range from $200 for the Silver account up to $25,000 for the Master account. Leverage varies by account type, from a maximum of 1:100 for Silver to as high as 1:1000 for Master.
These conditions appear designed to attract both small retail traders and high-net-worth individuals. The high leverage offered on the Master account, in particular, indicates a willingness to accommodate aggressive trading strategies, which can amplify both gains and losses.
Instruments and Platforms
According to our records, the broker supports trading in forex, metals, indices, stocks, and cryptocurrencies. This multi-asset offering is standard among modern retail brokers, allowing clients to diversify within a single account. However, the specific trading platforms available (such as MetaTrader 4 or 5, cTrader, or a proprietary platform) are not detailed in our known facts.
Without verification of the trading platform, traders may face uncertainty regarding the execution environment, charting tools, and automated trading capabilities. We recommend that potential clients confirm platform availability directly with the broker before depositing funds.
Risk Assessment
FXCanary has assigned PLUS1TRADE a Scam Risk Score of 49 out of 100, which falls under the 'Guarded' category. This score reflects the significant risks posed by the broker's lack of regulation and its relatively short operating history. While a middle-range score does not necessarily indicate outright fraud, it does suggest that caution is warranted.
Traders contemplating an account with PLUS1TRADE should conduct thorough due diligence, particularly regarding fund security and withdrawal policies. The high leverage options further elevate the risk profile, as they may encourage overtrading and excessive risk-taking.
Overview compiled by FXCanary from regulatory records and public data. full PLUS1TRADE review