FXPRIMUS and PlexyTrade Broker Reviews: What Investors Need to Know?

As online trading platforms proliferate, so do the risks. Regulatory gaps, inconsistent customer protections, and increasing user complaints make it critical to assess a brokers credibility before investing. This review focuses on two high-risk platforms listed in the WikiFX database: FXPRIMUS and PlexyTrade. Despite their professional appearance, both raise serious concerns.

FXPRIMUS Review: Moderate Regulatory Score, Poor Risk Control and Complaint History

Platform Overview

FXPRIMUS is headquartered in Cyprus and has been operating for over a decade. It holds a CySEC (Cyprus Securities and Exchange Commission) Market Maker license and previously maintained a license from South Africa‘s FSCA (now expired), as well as an offshore license from Vanuatu’s VFSC. The platform supports MetaTrader 4 (MT4) and offers a range of tradable assets including forex, cryptocurrencies, commodities, indices, and metals.

According to the WikiFX scoring system, FXPRIMUS has a total score of 2.46 out of 10, with the following breakdown:

• Regulation Score: 6.83
• Risk Control Score: 0.00
• Software Score: 9.48
• Business Score: 8.02

While the business and software ratings are relatively strong, the zero score for risk control and reliance on offshore regulation undermine the platforms overall safety for retail traders.

You can check out more details of FXPRIMUS from the link below: https://www.wikifx.com/en/dealer/4051155469.html

User Complaints: Delayed Withdrawals, Missing Funds, and Account Irregularities

Dozens of user reviews on WikiFX reveal serious operational concerns with FXPRIMUS, especially around withdrawal issues and unexpected balance changes. The following are selected complaints from verified users:

• NI2228 reported that after two months of waiting, the company still had not processed his withdrawal. He accused FXPRIMUS of “stealing funds from many investors” and “falsely claiming technical issues.”
• baris stated that the platform took money from his account and he was unable to reach any official representative. He warned others not to trust the broker.
• Aziz2502 claimed that his account balance was lower than the amount he deposited. Despite transferring money twice and providing all necessary verification documents, his funds were never returned. He believes the platform is a scam.
• Ayaz reported that his funds were withdrawn by the platform without him even making a transaction. He did not receive any explanation from the company.

While a user named Jerry444 praised the brokers transparency in fees and commissions, this remains one of the very few positive reviews among over 70 total submissions. The overall sentiment is overwhelmingly negative, particularly concerning funds being withheld or removed without notice, and the inability to reach customer support during disputes.

PlexyTrade Review: No Regulatory Oversight, Very Low Transparency

Platform Overview

PlexyTrade claims to be a Saint Lucia-based broker offering forex, crypto, and CFD trading via MT4. Its website promotes “professional execution,” “global access,” and “advanced tools.” However, according to WikiFX, PlexyTrade holds no valid regulatory license and is classified as unregulated.

The platforms total score is 1.91 out of 10, with 0 scores in both Regulation and Risk Control categories—flagging it as a high-risk broker.

You can check out more details of Plexytrade from the link below: https://www.wikifx.com/en/dealer/3801261892.html

Key Risks: Blocked Withdrawals, Account Wipeouts, and Shady Tactics

External user reviews reveal consistent patterns of abuse:

• Withdrawals denied: Traders report their funds being locked, with excuses such as insufficient trading volume or unverifiable documents.
• Sudden account losses: Accounts are allegedly cleared of funds overnight, without prior notice or explanation.
• Manipulative terms: Promotions and bonuses are revoked arbitrarily, and accounts are closed under vague claims of “policy violation.”
• Customer support disappearance: Once users begin to request withdrawals, many are unable to reach the platform again.

These patterns point to systematic misconduct, typical of unregulated offshore brokers operating without accountability.

Conclusion: Both Platforms Pose Clear Risks to Investors

While FXPRIMUS does hold a regulated license, its poor risk control, frequent user complaints, and questionable business practices raise significant red flags. PlexyTrade, by contrast, is completely unregulated, and its behavior aligns with common scam tactics seen in offshore broker schemes.

Investors are strongly advised to verify broker credentials using tools like WikiFX before funding any trading account. Always prioritize platforms with strong regulation, transparent policies, and a solid track record.