Plan B is a cryptocurrency broker founded in Germany in 2023, primarily offering trading services in cryptocurrencies to investors. The company's official website supports English, Simplified Chinese, and German as user languages. However, the transparency of information on its official website is relatively poor, with much crucial information not disclosed, potentially leading to misunderstandings and information asymmetry. The company has published its registration information in Germany and the United States, but this is insufficient to demonstrate its security and reliability.
Registration and Regulation Information:
On its official website, Plan B claims to be regulated by Germany's Federal Financial Supervisory Authority (BaFin) and the MSB and NFA in the United States, and upon verification, this regulatory information is accurate. However, it is worth noting that cryptocurrency regulation requires significant effort, and the current level of regulation does not suffice to attest to its reliability.
![screenshot-20240216-152513](https://production-app-asset.traderknows.com/images/801ab069f88b441aa5bcd7410ca952b8.width-800.png?Expires=1728347442&Signature=V9jGIUUPG~KnloqHlWz~lenyvzKxukUCO3BVsnB32c0KsXzpjOeUNsv3~1WASpsAT6ONUJeX7RNQcmDDXCSob3yZZN5RBWszXiqssVJU37TsF0sMSMKPOnSSWA7fN6Z~Z17V9-wX5SPhIJ0nlzWACaMN6mpaxsKh2ALcieqPdnG-uJXUZO56fpvZeOCinHW1pu-CQv2wpDh3JWo7dk9zj0BQgfvfcWKnMjZoJlOuBH2skpIt2yevItqpMupjc1tz6RUMSZrbntIsSWZ89TQDlbtnmNR7wsxALs4I6MtattsIHUgLyeAbHuIdmAgbMul5SxA0w54ZKmCkSxpj1JHujA__&Key-Pair-Id=K3LHBTUA5A7KEY)
![screenshot-20240216-132722](https://production-app-asset.traderknows.com/images/4ff87848a736437dbc025a2d57c52bcf.width-800.png?Expires=1728347442&Signature=DAK1pjKEiJCT~kpcOaKUAW-8x5TATKFjBuBHh3p6CNgiCi047ubFVMPudVW7hkqo~IclAmadwChOsMdwaz-d-4R~Af731TiiAh1bjIrVi1BZzLzgFEtdd73C026uxY~QogvS3-QXQ~WdanJAeDzF-9KdlGy7~4wn0dYI2-NzvZr4z0ynxrXn5262cLYt-Jnk7ZD~rndFUpTHrkqqpKbEYVSypL2MxRju-pMlimiOPO2XGF4plgTB1YPd3~nRL6UfwT6RtpFgyFgOKLYeXX0k4nvPmtpHqkgmhVnUa9GSYH28eGmQirw~v-CkJMO76yGHpVfZoS7R2pVaM1uEwnh10g__&Key-Pair-Id=K3LHBTUA5A7KEY)
![screenshot-20240216-152122](https://production-app-asset.traderknows.com/images/bcea440010214cbcb1711bba97b8216b.width-800.png?Expires=1728347442&Signature=jCKknL3l-8g7fzzgAzP4-uD9mJuRxfl~cSwKoOKfFk~chZm9tpdni-IemOOgiWDtgeUtYBsqBP~fIcZrR11MLvCTl7yJQiaKoKcG0wa6iMv5HG9m2aWwOpO0gSgeFFgawKftNb802v7Pd0qpv4xKV23JUTUhMAPS4ZXyVuNNqaP~syJSkfWvXCtBb-1KmH635uMD46V-~rhONHXJ88M3PQTf6zd5O0qw1EHhgraABv83WsQ1FyFB7cdesG3sgE5DnfC~3lY--tPgmHcQAnHigAr0Tm2cDOogEoIjpspJHfORL0CUpXh9p4Rz9ZpwQ-xEiuLCDfLxSubk8i28aQtjaw__&Key-Pair-Id=K3LHBTUA5A7KEY)
![screenshot-20240216-153135](https://production-app-asset.traderknows.com/images/b501c0d371544a668fe58f1c2ac79929.width-800.png?Expires=1728347442&Signature=BjYiqLEIvS5N8M3w1OuHV91PqYZmVv2vkTz2yXEg4IRxvpw1b1EmfRS~WatbK1O2lLB9UFkZGK3WSkZS5yeEt-xv7YRrv204ufQkIg6nxnT4Pm7KTaTkhkPnN-wEwRRhfzMj65PFE7eZGlGlcdfM8KU0ZnxyTYiM9RDVPpzsEAvea2TRlasDz6OqmB1XEBEq2ySdsgpnQiUNDvsA~cYYxBxdx7TAIQV35iX929KpbSKnsvgbuA23DLAb41Dukc0Q6gzlZY~4n8eKisntfH5IwlLGOTAKmjE-Zk4IFa3aHl4YEeILcw-4SAgkoCGZztcDSjSWaT64UskYeI2bfvqeNQ__&Key-Pair-Id=K3LHBTUA5A7KEY)
Account Registration:
Plan B only provides a single point of entry for registration, without offering a choice of account types or an introduction to related account information. The lack of disclosure regarding account-related information may lead to significant information gaps.
According to information provided on Plan B’s website, registering an account requires a high fee, with every account necessitating a fee of 500 USDT, and it has not been disclosed whether this fee is for processing or is a minimum deposit requirement.
![screenshot-20240216-155735](https://production-app-asset.traderknows.com/images/a77aaabe39bb4a418deb7a3cb7a3306f.width-800.png?Expires=1728347442&Signature=chb8ScqYFOFSD0zt4vY1hv8~19i~2FytdSymkwS5pH6WVbLpZKb2TVPIl7gJI7iod8N13xFNyvzozn~DFrQarKzclOH6Iy93ubUVkgNzdd~w0GCIFkNr-Q4gLJqDUSHxmItUpzZlYSuFSQoqewwr2-2b26MpHjWNdfVAq411U4xaSNb4lafMlLbeDzsBjA2kZ1wUqm4DuyAfL4gqPxRHrFpz2gxHpyxDwe-cBZE7CJo3Dk0i0IXt4sNdSbIEDNgllPsOueov0gG-m-hd0BkANu04B~QCYDo74rEqx3lX2qWSHod4gUZLPrm4n8K~comw6w~546H8RPLI0ZrN~Og69g__&Key-Pair-Id=K3LHBTUA5A7KEY)
![screenshot-20240216-155840](https://production-app-asset.traderknows.com/images/505727fa1cde4b92ade73de8d9575454.width-800.png?Expires=1728347442&Signature=t53z20HtwmafGCMi40Ja9tS27YUAk2FsSH19pvPP2LrptBnrMPN1FQpqB7Tw9-MW7A4b4JGQewV~yWVMUbhzS8O6TKoDfjIywSfcrISoNg0wDQBu6OrPvifAgzxv8ikE6tiFFoGrSl~4lTjk81dH5E33p0dC3C3lQwepa9R1GuIxlyDlu7PWTLIW-0~1eXBtZlS5u3wVOeeRsZ~xzJRmMH2tMphwGeurBIQ1kEKvABVqt5WoMtQ6k2hZfoSxoTsr7JQWUb5MywKpXL90xy57TXPs9rl6ArjQIF51wOGgShvqTZ9UDSXdBpeliHPvkIW-Dlqdi6WSd3N9c6kqXATBPw__&Key-Pair-Id=K3LHBTUA5A7KEY)
Leverage Ratio:
Plan B does not disclose specific leverage ratios and related information on its website, including how to use leverage or achieve the maximum leverage.
Trading Products:
Information on Plan B's website shows that the company does not directly provide trading services to clients, but rather offers trading services indirectly through "digital asset management."
![screenshot-20240216-160339](https://production-app-asset.traderknows.com/images/0a04eac87b7344bab747c0720e045102.width-800.png?Expires=1728347442&Signature=WaJN5K16p6QjhHPGxXPl89aQzAF55hu32GoQCZh87NJ6Zs3zP8ffBzUbkqbFwfrc11BA0s-fTJrQ2dHSI4Jo7WIkaQPZOUeJ80pOK-FU-zgWIFhpd6nr13suag88ZzM3HSWj6KqzLaR9Fu6xjyJ-I~Rxi182CFM0XNvOvG21xe1KEOnFzDv8ditxnjY2p6UG5HYpa24whoYlS38Qe76w7wzWf1oyrOBZaOAnSf-YDiOpHz~msFv5wftvsqBvPDYjp~KL0Vo~Lq3U2B2LJQ-yDQ1cHoPaDsaWmH-WHZ5xrHUrCxnLP2EE12NpG3hcww8Mr6gwur4YmhSTn3Yfo1HhfA__&Key-Pair-Id=K3LHBTUA5A7KEY)
Deposit and Withdrawal:
Plan B does not provide information on deposit and withdrawal on its website, including whether there is a waiting time, which channels are supported, which currencies are supported, or whether there are any fees involved.
The lack of explicit information on deposits and withdrawals might mislead users and lead to unnecessary losses.
Trading Software:
Plan B’s official website does not disclose what trading software is used, nor does it provide an entry point or method for downloading the trading software.
Company Management:
Plan B has disclosed some information about several core personnel on its official website, but it is impossible to verify the authenticity of the provided information due to the lack of availability of their information online.
![screenshot-20240216-160840](https://production-app-asset.traderknows.com/images/fcaad54fb80e4d9badb60d090897266b.width-800.png?Expires=1728347442&Signature=Qfs5N9F5At785ANoRfbGjQb7Ps3zAeH2O0n8SKxOeI6KEVtimtGe5qeVQQqyU9DhpMU~h9ehBKmrtoEZR56ucm2168GMC1kB6fpJl-mWkzthc0DEteI1gocU4G5nA-4eo2iwj7EvXab6G7A-RYJbSh2Vp60au-BSmRiuJ3RmTfbkuTTSmi4Ew9fqQw2~gdl7DCuwUFg7SG4kbRfD5OZnE~xI6apQ4BuXc3yCZXGLd6s6CnmHS0SVb7vYLsOrcBgGduww-vqh0OxY3VIVy0DqGTAefcEi-~io-rjdQfh0bgBCvbMeLRrmQoQ4e05QtfGY45eL7MJW~gEM0zCtpYQF3A__&Key-Pair-Id=K3LHBTUA5A7KEY)
Customer Support
The only contact method provided on Plan B's official website is via email, which is not a very efficient mode of communication.
![screenshot-20240216-161206](https://production-app-asset.traderknows.com/images/795d12f67f264257ac492f56013b098b.width-800.png?Expires=1728347442&Signature=1c-OFO7Ae-T3iDb-xcIBq~bZR04PMeu2BKuFf6eOW5nvfXUTcZbA9SG~hsCxNgsBDUNG6tJ9VUZXxvJAoGblIzzrTFK5gyQG6iL1e9lzow9YolCbOujUDkwt6ujIfdKWqwa8fnLXhNanGJgPYI5PYaPC4jenWUpUCtZLl7bUoGxfp-O62TSCDnaFbEYN7aFTHeTx9KqQbo2QveWV8bxvGs9RAvOKhNVSanofaPP9r0aIDrz45SFFdztDhfxoYzfr6XmNXySd0-1-7VSB-l4prVvAT-9o9C1u-GEsceHqzu50tbBzcJEHuThfkTHUm7rNM-Se6XScSZwMa9IaEPtaRQ__&Key-Pair-Id=K3LHBTUA5A7KEY)
Summary:
As a cryptocurrency broker, Plan B has a variety of regulatory information that is accurate, but this does not suffice to prove its reliability. The broker falls short in several key aspects such as corporate background, regulatory transparency, account information, and contact methodology, and the financial regulatory bodies' oversight is not sufficiently robust. For investors interested in trading with Plan B, it is essential to conduct thorough research and risk assessment.
Currently, Plan B is labeled as "suspected of fraud" on Traderknows.