About Pluto 500
Pluto 500 is an online forex broker registered in the United Kingdom, which has a rather short operation history of 2-5 years. Notably, this broker is not regulated currently. Worse to note, Pluto 500 leaves no contact information for traders who may have any trading issues with it.
Regulation: Is Pluto 500 legit？
A significant red flag for Pluto 500 is its lack of regulation. Operating without regulatory oversight raises serious concerns about its legitimacy and exposes potential clients to significant risk. In the event of a dispute, there's no guarantee of protection for your invested funds. Furthermore, Pluto 500 received an abysmal score of 1.43/10 on WikiFX as of July 5, 2024. Reputable review platforms like WikiFX provide valuable insights into a broker's reputation and practices. A score this low strongly suggests significant issues with Pluto 500.
Unaccessible Website
Adding to the red flags is the current inaccessibility of Pluto 500's official website (https://pluto500.com/). While the reason remains unclear, an inoperable website for a financial service provider is highly unusual and raises serious concerns. It's possible the website was shut down by regulatory authorities due to suspected fraudulent activities. Regardless of the cause, the inability to access Pluto 500's website further undermines its legitimacy and trustworthiness.
Trading Platform
Another major concern is Pluto 500's failure to offer the widely-used MetaTrader 4 (MT4) or MetaTrader 5 (MT5) platforms, the industry standard for many forex traders. Equally troubling is the complete lack of transparency regarding any alternative trading software it might provide. This secrecy surrounding such a core element of the trading experience raises serious red flags about Pluto 500's overall legitimacy and user-friendliness.
Contact Information
Worryingly, this broker does not provide any contact information, which can be further evidence that this broker deliberately avoid leaving traceable contact information in order to evade regulatory oversight. Typically, unregulated brokers may want to limit communication with investors to avoid accountability. A physical address provided by this broker cannot save anything, for address this broker claims to have may be fake.
Conclusion
To provide a summary, Pluto 500 is an unregulated broker with a low score on WikiFX, in this way, WikiFX does not advise to trade with this broker. As this broker may not have enough credit to secure your funds. If you want to know more information about the reliability of certain brokers, you can open the WikiFX website (https://www.WikiFX.com/en), or download the WikiFX APP to find the most trusted broker for yourself.
FAQs
Is Pluto 500 legit？
No, Pluto 500 is not regulated, which means it operates without legal authorization.
Is Pluto 500 safe to trade with？
No, trading with Pluto 500 is unsafe due to its lack of regulation.
Is Pluto 500 suitable for beginners？
No, Pluto 500 is not suitable for any investors who seek a safe trading environment.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then.
