Plutus Company Investigation: Trustworthy or Not?
It is intriguing when a company claims to have extensive experience but there are no reviews about it online. Be cautious before taking decisive steps towards such companies. A recent review addresses a similar “dark horse.” Plutus claims to have served traders for a long time, yet there are no opinions about working with them. Let’s analyze what plutus.pro is exactly and whether it is worth getting involved with.
Honest Look at Plutus
According to the official website plutus.pro, they promise to adhere to high service levels. However, just by the name of the resource, one can infer that all statements by the CFD broker should be approached with caution. Its operations do not inspire trust. It seems that the intermediary is fake and geared towards newcomers who are not familiar with the financial sphere. Such individuals are willing to trust empty promises due to their lack of experience in dealing with similar intermediaries.
It is worth noting that the managing company of the CFD broker “Plutus” is ITM Solutions LLC. This information was utilized for an expert review. The most noteworthy finding is that the same organization is listed in documents for Galore Pro. This dummy company has garnered numerous negative reactions. Traders report that the intermediary deceives them and does not allow withdrawals.
The official plutus.pro website states, “Based on our extensive experience, we offer….” But what is the actual experience of the company in the financial market? A domain check reveals it was created on November 25, 2019. In the end, it is a semi-truthful message from a pseudo-broker. It boldly exaggerates its age to gain trust from potential clients.
Origin of the Parent Company
ITM Solutions LLC is registered in the offshore jurisdiction of Saint Vincent and the Grenadines (certificate number – REG 154 LLC 2019). This island often becomes a haven for financial fraudsters, allowing them to evade criminal responsibility. Many trader reviews on specialized forums indicate that attempts to hold such offshore companies accountable have been futile. We suspect that those who engage with “Plutus” may face a fate similar to the aforementioned.
The intermediary under review lacks official offices or a license for financial operations. The company only lists a legal address in Saint Vincent and the Grenadines on its website: The financial service center, Stoney ground, Kingstown ST. Vincent and the Grenadines. Given the absence of public registries of legal entities in this country, it is impossible to verify the authenticity of the information provided by the pseudo-broker.
As mentioned earlier, traders are unlikely to travel across the country to contact customer support in case of issues. “Plutus” provides the following alternate communication channels:
- phone number: +447403236628,
- email address: [email protected],
- online chat,
- feedback form.
Authentic reviews from Plutus clients have not been received yet. Only from the experience of compiling reviews can it be said that fraudulent companies ignore traders’ inquiries, and the chat and feedback form are likely used to gather contact information. Considering the open deceit, it is not advisable to leave your contact information with this intermediary!
I had a very poor experience with Plutus, the CFD broker. Their platform is not user-friendly and glitches often, making it difficult, if not impossible, to execute trades at critical moments. Customer service is practically non-existent; they are slow in responding, giving canned replies instead of providing actual solutions. The withdrawal process is also very tedious and I had to wait for weeks before receiving my money. They also have hidden fees which are highly inconvenient and unethical. I wouldn’t recommend Plutus to anyone.
Plutus is a CFD broker that garners a mixed bag of feedback, with some traders praising the platform while others report difficulties in their trading experience.
I am thoroughly dissatisfied with the broker’s performance as it lacks transparency, efficiency, and consistent communication, which are all crucial for successful trading.