Plus5Tr Review: 12 Complaints Found – Why?
As we delve deeper into Plus5Tr, it is imperative to acquaint yourself with their fundamental information. Take a look at the following table, and you’ll quickly comprehend why it’s best to steer clear of this trading company.
|Name||Plus5Tr / Plus5 Trade / Plus5 Tr|
|Registered in||Plus5Tr hides this information|
|Number of complaints found||12|
|FinTopi Recommendation||Stay away from this scam broker!|
Regulation and Legitimacy of Plus5Tr
Plus5 Trade has gained popularity among our audience as an online trading broker. However, when considering any online trading platform, including this one, it is crucial to conduct thorough research beforehand. Unfortunately, Plus5Tr lacks regulation or authorization from any major regulatory authority. Consequently, withdrawing funds from this company may pose a challenge if they choose to overlook your requests or suspend your account arbitrarily.
In this Plus5 Trade review, we will explore the legitimacy of the company, the process of withdrawing funds, and shed light on how online trading scams operate.
Experiences of Traders with Plus5Tr
To safeguard yourself against fraudulent online platforms, it is essential to exercise due diligence and thoroughly investigate the companies and entities you plan to entrust with your money. Additionally, reading reviews from other traders who have firsthand experience with Plus5Tr is crucial in determining the reliability of the broker.
So, to address the question of whether Plus5Tr is legitimate, we conducted research across various social media platforms (Facebook, Twitter, Instagram) and online trading forums. Based on user feedback, it appears that Plus5Tr is not a trustworthy broker. Hence, exercising extreme caution and wariness is advised before investing through their brokerage platform.
According to our research findings, the company primarily targets customers from the following countries:
Withdrawal of Profits from Plus5Tr Account
If you find yourself unable to withdraw funds from your Plus5Tr account, it is recommended to first contact them and make a formal withdrawal request through all available means. This ensures that you have documented proof to present to authorities in case they refuse to process your request.
If your withdrawal request remains unapproved, here’s what you should do:
- Gather all relevant evidence, including your account balance and written communications.
- Contact local authorities.
- Consider seeking assistance from a specialized chargeback firm that can guide you through the process of recovering funds from online trading scammers.
Even if a brokerage company is regulated, it is advisable to avoid it if the regulation does not apply to your jurisdiction. This is because withdrawal issues may arise, and you will not have the recourse to request reimbursement from a dedicated compensation fund.
Vigilance is key to avoiding the Plus5Tr scam and recognizing potential red flags.
Mechanisms of Online Trading Scams
One common method employed in online trading scams involves showcasing profitable trades to give investors a false sense of confidence and entice them with the idea of making quick money. Once this confidence is established, investors are coerced into investing larger sums for higher returns.
Upon registration, broker employees become persistent in their calls, emails, WhatsApp messages, and even invite you to join Telegram groups. They relentlessly promote the idea of earning thousands of dollars overnight. If you fall for their tactics, you will be assigned a “senior account manager” or retention agent who will devise various financial plans to supposedly help you achieve your goals.
Furthermore, scammers may request access to your computer or mobile device using remote software like AnyDesk or TeamViewer. Through this access, they gain control over your device, including your online banking, cryptocurrency wallet, and other financial accounts. It is unnecessary to explain the consequences that follow.
In some cases, the brokerage may encourage you to refer your friends and family to the platform, providing additional incentives. Once the brokerage believes it has exhausted all available funds from you and your network, they will suspend your account, denying you any access to the funds within. Consequently, logging into Plus5 Trade com will become impossible.
Fraudulent firms may even claim to have an address and license within your country, but these attempts are merely aimed at building false credibility. Always verify their regulatory status in the database!
Selecting the Right Broker
Investing time in research before engaging with a suspicious broker can save you from potential losses and unnecessary stress. Remember to verify information from multiple sources and exercise caution when dealing with any online trading platform. If you require assistance in choosing the right broker, do not hesitate to contact the experts at FinTopi.
Provide your details below, and we will assist you in researching brokers regulated within your jurisdiction, preferably by Tier 1 authorities such as ASIC, FCA, or BaFin. Stay safe!
FAQ about Plus5Tr:
Is Plus5Tr a Legitimate Trading Firm?
No, Plus5Tr is not a legitimate broker as it lacks the necessary licenses for its operations.
Where Can I Find a List of the Top Forex and Crypto Brokers?
Numerous online lists provide information about the top forex and crypto brokers. However, it is essential to remember that each trader has unique needs and preferences. While a particular broker may be suitable for one individual, it may not be the best choice for another. That is why FinTopi offers a customizable service to help you select a broker tailored to your specific trading requirements.
How Can You Assist Me in Choosing the Best Forex and Crypto Broker?
We evaluate your trading needs, preferences, and skill level to provide you with the best recommendations. Ultimately, the final decision rests with you. Our consultation services are free of charge and do not obligate you in any way.