Plutus.pro – Can You Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Plutus.pro - DO NOT TRADE WITH THIS PROVIDER
2.5/10
$100
Minimum Depositupdated 2020
Plutus.pro has not provided any information on its website about the types of accounts they offer. There is also no information about the trading conditions. The only way you may get this information is if you register with them.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://www.plutus.pro/
Founded: N/A
Regulations: Not Regulated
Languages: English, Arabic, Russian, German, Italian
Deposit Methods: Bitcoin
Minimum Deposit: €250
Free Demo Account: No
Number of Assets: N/A
Types of Assets: Forex, CFDs, Stocks, Commodities
Trading Accounts and Conditions
Plutus.pro has not provided any information on its website about the types of accounts they offer. There is also no information about the trading conditions. The only way you may get this information is if you register with them.
Plutus.pro – Advantages
Considering the massive lack of critical information, there are no advantages you will find trading with Plutus.pro.
Plutus.pro – Disadvantages
Here are the many disadvantages we found with Plutus.pro:
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Unregistered Offshore Broker
Plutus.pro states on their website that they are a brokerage owned and operated by a company called ITM Solutions LLC. This company has a registered address in St. Vincent and the Grenadines (SVG), which makes it an offshore company.
The government of SVG has stated publicly that they do not offer licenses for Forex brokers such as Plutus.pro, so this means that this broker is actually offering their financial services without a proper license.
Dealing with an unregistered broker like Plutus.pro is a sure way to lose funds, since you would be contracting with an entity without the protection of the law. Brokers that are legally authorized to offer their services have to follow strict rules of conduct, such as account segregation, transparency in all their operations and ensuring that they have enough operating capital to pay their clients.
Furthermore, there are many financial authorities that require brokers regulated under them to participate in a financial reparation scheme – call it insurance if you will. Thus, if a broker goes bankrupt or is found to be defrauding their customers, then they are bound by the law to reimburse their customers for the losses suffered because of their failure in operations.
When you deal with an unlicensed broker, you do not get any of this protection, so if you get scammed, there isn’t much you will be able to do to get your money back.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Require You to Download AnyDesk
Another point that makes us very suspicious about Plutus.pro’s legitimacy is the fact that they require you to download AnyDesk. AnyDesk is a software program that allows you to remotely access your personal computer or even mobile device. And if you download this software from a third party’s website (such as Plutus.pro), then they get access to all the personal information on your PC or mobile device.
This means that this unregulated broker would have access to details such as your credit card information, your bank account, etc. You will literally be opening the door for them to steal money from you, and there will be nothing you will be able to do about it.
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Basic Web-Based Trading Platform
Most legit brokers offer their clients the best possible trading platform since this is the key reason why any trader would contract with them. The most popular trading platform – one that is used by more than 80% of all traders – is the MT4 trading software. This is because this interface is not only easy to use but it also offers great features such as charting and market analysis tools, as well as trading bots for automatic trading.
If you contract with Plutus.pro, what you will get is the most basic of web-based trading platforms. There are no added features, and you will only be able to perform only the most basic of trades on it.
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No Information on Trading Conditions
Trading conditions are critical pieces of information that must be shared with traders, since this will tell you what kind of trading costs you will have to bear if you contract with a particular broker.
Plutus.pro has omitted to present any of this information on their website, which means you will get no information about whether trading with this broker would be advantageous to you or not.
We logged into this broker’s web-based trading platform to see if we could any information. We found that they were offering a spread of 0.7 pips for the EURUSD currency pair, but there is no mention of the leverage ratios, commissions or other trading costs.
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Lies About Payment Methods
Another thing that leads us to believe that you money is not safe if you broker with Plutus.pro is the fact that they have lied about the payment methods they offer.
On their website, Plutus.pro states that you can choose from multiple payment options – Visa, MasterCard, Maestro, Visa Electron, AnyWires and Bitcoin. However, when we registered for an account, we found out that the only way you can carry out transactions with this broker is via Bitcoin.
The reason why this is a huge red flag is because Bitcoin transactions (and all other cryptocurrency transactions) are anonymous and irreversible. This means that you will not know who has taken your money, and even worse, there will be no way for you to file for a charge back if you have been scammed.
Using cryptocurrencies as a payment method is the common modus operandi for scammers because they can divest you of your funds and there will be no way for you to ever get that money back.
With credit card and bank transfer payments, on the other hand, you are allowed to file for a chargeback if you have been scammed.
Conclusion
Everything we have investigated about Plutus.pro indicates that this is not a broker to be trusted. In fact, there are indications that this broker could be a scammer. They are unregistered and are asking you to download a software that would give them direct access to your personal banking information.
We would not recommend this broker to anyone.
Plutus.pro
Pros
- None
Cons
- Unregistered Offshore Broker
- Require You to Download AnyDesk
- Basic Web-Based Trading Platform
- No Information on Trading Conditions
- Lies About Payment Methods
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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