Financial scammers of sorts appear every day. Because the broker in question today is yet another one of them, it has motivated us to put together this Plus5tr review.
Starting from the homepage of their official website, nothing we’ve seen on it has made us hopeful concerning this anonymous broker. While the whole web presentation isn’t half bad, it’s packed with one promise after another. Our readers are well aware what that means without a valid proof of the broker’s concrete competitiveness.
The complete absence of legal docs has additionally raised our concerns. Upon registering, you have to say you agree to the Terms and Conditions, but you cannot open the text to read it. The link leads to a blank page. It’s as if the facade you see is all you’ll ever get, as the website doesn’t feature a whole lot.
Plus5tr sure likes to keep a friendly approach but without discussing the regulatory aspect that is mandatory for any broker. That’s why we took the matter in our own hands and started investigating. Keep reading this Plus5tr review to learn what we found out.
Don’t expect to be able to learn much about this brokerage company. Plus5tr didn’t find it suitable to publish any information pertaining to their business, leadership and legal status. As the brokerage license matters the least, Plus5tr doesn’t even make a mention of it. They probably thought we’d completely forget about it if they didn’t bring it up.
So the shallow and half-finished website doesn’t reveal anything of use to us. Exploring further was made impossible due to the severe lack of any information on the services provider. For that reason, we started checking with major financial watchdogs that regulate markets in the developed areas.
The results of our research suggest that Plus5tr doesn’t own a Tier 1 license that would make them a trustworthy broker. We can confidently claim so because they do not appear in any database of regulated brokers we’ve searched. By this we mean FCA, ASIC, CySEC, AMF, CNMV and BaFin.
Although it was clear from the start, we still had to do our homework properly and look for the possible license. Plus5tr is an illicit broker, unfamiliar to major Tier 1 regulators and therefore not an owner of a premium trading certificate.
If the broker was regulated, they would provide segregated bank accounts as a means of safe-keeping the clients’ deposits. Furthermore, Plus5tr would have to implement negative balance protection, compensation funds and limit the leverage to 1:30. The maximum leverage at Plus5tr is actually 1:100 and negative balance insurance isn’t there to help traders reduce the risks of loss.
Plus5tr hasn’t been on the market long enough to establish a name for themselves. What they’re apparently good at doing is employing a bunch of paid reviewers to leave positive comments.
However, there’s still enough negative ones to balance out and provide an average rating for Plus5tr in general. What customers seem to be the least pleased with is the terms of withdrawals and the difficulties they’re facing during the process. Take a look at what is commonly described as a problem with Plus5tr:
Out of business. Emails bounce. Withdrawals not paid. No contact. Seems as though I’ve lost my money as of the 24/02/2023
Scammers. Tell you half truths and lies and keep changing the rules so you are never able to withdraw your funds.
Plus5tr offers some pretty unrealistic trading conditions, from what we could read within the platform. With the starting spreads being 1 pips, we couldn’t immediately believe the attractiveness of the whole deal. The leverage to expect at Plus5tr is set at 1:100.
Here are the trading instruments offered:
Joining the Plus5tr user base is a pretty simple and quick process. All you have to do is enter your credentials and you will be allowed into the user area. There, you can choose to deposit, withdraw funds, trade and upload additional docs for the sake of verifying your identity.
Unfortunately, no where does Plus5tr state if they allow more than one choice of a trading account. We’ve determined there’s no option to open a trial account. That means the Demo package is not available for test-trading. The fact that solidified our doubts about this was the inability to place trades without first funding our account.
Since Plus5tr doesn’t have a separate section on the website dedicated to explaining how account types work, we have reasons to doubt they exist. Also, during the registration, we weren’t offered to choose between the account types. Not even the one account we managed to open was clear about what options it features.
Trading terminal that Plus5tr offers is not half as bad as we expected. The dangers of trading on it lay in the fact that scammers choose it for easy data manipulation it offers. Not only can fraudsters input the trading values they wish, but they can fully control the trading process.
Don’t even get us started on the lack of advanced features as another downside to choosing web traders. Compared to the super powerful industry masters like MT4, MT5 and cTrader, this web distribution is nothing but a mere joke of a platform.
We wouldn’t want to spoil the fun right off the bat. But based on the whole lot of information we’ve provided throughout this review, you can only guess how payouts happen with Plus5tr.
The broker doesn’t, for a second, lose their composure and reveal anything related to their true fraudulent nature. Staff members act utterly adorable and friendly as long as your investing potential is to their liking. As soon as you ask for a withdrawal, you can expect the hustle to start. The user testimonies witness that.
Every single foul broker will impose bizarre conditions, trading volume requirements and pile up bills for you to pay until you go insane. Even if you somehow manage to get through one obstacle, another one awaits. It doesn’t end until you realize you’ve become a scam victim and it’s time to ask for help.
Luckily for you, we’re here. Read the following section of this review to learn how you can protect yourself properly and get your funds back.
What’s of the burning impotence is not letting yourself despair and lose hope. Just how there are scammers, there are educated and experienced people fighting them. Our team of recovery experts can help you more than you’re aware. All you have to do is contact us promptly and as soon as you realize your money is gone.
Our agents will walk you right through the process necessary to go through in order to start the chargeback. The professionals we employ will also land you a listening ear and help you overcome what you’ve been through. Your wisdom as someone who has been through the experience of scam can help us warn others. The knowledge you have on this or any other scammer you know can aid other unsuspecting victims.
Plus5tr is a total scam that operates without a valid license. The website doesn’t even remotely discuss their regulatory status and the company doesn’t appear in any of the databases we searched for a Tier 1 license.
No, this brokerage has not developed their own trading app for mobile devices. The only way to access their trading software is through your mobile browser.
Plus5tr doesn’t have such a program available at the time being. It wouldn’t be strange if they had it, as it’s a way for the swindlers to expand their user base quickly.
Plus5tr is a total scam that operates without a valid license. The website doesn’t even remotely discuss their regulatory status and the company doesn’t appear in any of the databases we searched for a Tier 1 license.
No, this brokerage has not developed their own trading app for mobile devices. The only way to access their trading software is through your mobile browser.
Plus5tr doesn’t have such a program available at the time being. It wouldn’t be strange if they had it, as it’s a way for the swindlers to expand their user base quickly.
The post Plus5tr Review – Unwise Investing Leads to Financial Disasters appeared first on Global Fraud Protection.
