Pluto Trading Review 2024: Fake Regulation, Hidden Fees, and More

After searching the web for hours to find a good broker to write about, we stumbled upon an unregulated company that has no shame in what it does. This broker doesn’t only fake regulation; it also hides fees, misleads traders, and pretends to be a reliable award-winning company. 

That brings us to the Pluto Trading review, where you will learn everything about this firm, including regulatory information, features, and more. Stay until the end and learn how to make informed decisions, and don’t forget to check out the Funded Elite prop firm. 

About Pluto Trading

This trading firm is anonymous online, which is what we expected anyway. Not only does this firm lack transparency due to hiding crucial information like where it’s registered, or even what the trading conditions are. No matter how hard you search, there are no results about Plutotrading.io. 

The drawbacks of this company don’t end here; in fact, there is nothing beneficial you can gain by using this brokerage company. Besides hiding information about fees, there is also no mention of account types or spreads. Everything about this broker is as transparent as mud. 

It’s not enough to say that Pluto Trading lacks transparency because even mud is more transparent than this broker. I guess they’re just waiting for traders to deposit their money blindly, without knowing what to expect. 

Legal Information

The first thing we like to do when writing reviews about brokers is to check the disclaimer, as the regulatory information is always presented there with regulated and reputable brokers. On Pluto Trading’s website, we couldn’t find anything about regulation, meaning they operate without a license. 

However, after a detailed analysis of the website, we were able to come across a text where they explain their goals and claim to be an awarded brokerage, and there it clearly states that Pluto Trading is regulated by the Securities Exchange Commission (SEC) in the US. 

Unfortunately, upon visiting the SEC’s website, there is no mention of Pluto Trading in the register. This alone is reason enough to stop you from depositing your funds. When a broker lies about regulation, it’s an indicator of potential issues and you should never ignore that. 

Pluto Trading Features

Though little information is provided, Pluto Trading is a 0% commission platform with narrow spreads and minimal overnight fees.  With access to more than 4,000 markets, clients can trade CFDs with leverage on the most well-liked indexes, commodities, shares, and currency pairs globally, or they can invest directly in international equities and ETFs. 

The firm gives customers access to well-known cryptocurrencies as well. You can trade on the web and your smartphone using a variety of markets, including Apple, Facebook, the FTSE 100, EUR/USD, and many more.

However, despite providing narrow spreads and minimal fees, they still fail to provide a detailed description. The Pluto Trading deposit is unknown and the leverage provided is 1:500, which would be impossible if they were really regulated by the SEC, as the leverage cap in the US is 1:50. 

Pluto Trading Reviews

The domain was registered only recently, according to WHOIS, so it’s understandable why this company is still standing. There is only one Trustpilot comment and it’s 4 stars, unfortunately, there are no unfavorable comments on any networks. 

However, that didn’t stop this company from claiming to be a 5-star rated brokerage on an unknown platform. This is done to lure traders into believing that they are secure, so traders can deposit funds and get scammed. 

As aforementioned, Pluto is new in the market, so having a lot of reviews would place it under attention. Luckily, it’s only a matter of time before the broker catches the SEC’s attention, which will finally expose them for the Pluto Trading scam and uncover the truth. 

Payment Options and Process

As suspected, the company doesn’t disclose anything about deposits and withdrawals. The minimum deposit requirement and the account types are only disclosed after creating an account and reaching out, which is a red flag. Deposits go smoothly with scammers, it’s withdrawals you need to worry about. 

However, this firm doesn’t provide any information regarding withdrawals. Considering you can trade with Pluto Trading crypto, we wouldn’t be surprised if the only payment option is cryptocurrency. Pluto Trading expects you to trust them with your funds, however, they’re not providing even a minimal sense of security. 

Weighing the Pros and Cons

Introducing Trading In the Future

In conclusion, Pluto Trading is a fraudulent company that you should avoid at all costs. They present as a regulated company by the SEC but that is far from the truth. The broker is surrounded by red flags and we suggest better checking an educational platform like Steady Options instead of reaching out to Pluto Trading. 

If you want to stop relying on shady agents such as this one, we suggest giving us a call to try to trade with AI.F, a potent analysis bot. With it, you can skip to the future immediately, without having to spend months on education. 

And unlike Pluto Trading, we don’t want you to commit right away. We want you to experience the powers of AI.Fundevity with a 14-day trial and make sure the bot is suited for your preferences. So call us now and book your chance to trade in the future! 

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