Plutus Global Review~ Helpful guide to this Forex Broker
The broker is a very new addition to the online trading ecosystem, having been launched in 2019. They have been rapidly adding to their client base since their launch, as traders have really taken to the transparency of the company. Reviews of the broker from clients have been largely positive and cast Plutus Global in a good light.
The Plutus Global website is wholly owned and operated by TM SOLUTIONS LLC. and was created to provide financial trading activities to a global client base. The company operates out of St. Vincent & The Grenadines.
Prospective clients who visit the Plutus Global website will likely be surprised by the user interface, which differs from the usual broker website in its lack of promotional banners and other eye-catching elements. Rather than inundating users with market information or broker promotion the site has just the basic information about Plutus Global.
It’s this transparency that has made Plutus Global so popular in such a short span of time. Clients have greatly appreciated the open approach of the broker which contrasts with the opposite approach some brokers take in hiding as much information as possible regarding their policies and procedures. Plutus Globalhas been able to leverage this approach into a bond of client trust.
While traders definitely appreciate the transparency to be found here, there are other characteristics and features that recommend this broker to prospective clients and we’ll touch on those things in more detail throughout this review.
A Quick Look at Plutus Global
Normally part of the review process includes the creation of a demo account at the broker to test their platform. This wasn’t possible at Plutus Global or actually i was not necessary as everyone that made an account automatically has a demo account. It was also not possible to test a real money account as Plutus Global minimum deposit amount is $250
We did find the Plutus Global site itself very informative. It includes all the information we would typically look for at a broker all laid out in very clear and easy to access ways.
We do know that the broker does not offer the Metatrader 5 platform but their own webtrader which is a great platform all by itself.
and being familiar with the platform lets us know that trading with them would be on a technologically advanced platform. Past trials with the platform let us know that the experience here is likely to be excellent as well.
Like most brokers Plutus Global offers various account types, or levels, based on a minimum deposit amount. There are 4 such account levels and benefits for the account types increase along with the minimum deposit. Below are more detailed descriptions of each account type/level:
At Plutus.Global You can choose from our 4 account types: Mini, Standard, Gold, VIP and Islamic. Whatever your account type, at Plutus.Global you get a personal and professional service, access to our 24/7 online support and educational services, Desktop Platform trading platform, with unlimited charts and technical indicators, automated trading and mobile trading software. As you increase your deposit, you receive more services.
Mini forex trading accounts are for new traders who want less risk. Standard accounts are for experienced traders and Gold accounts are for those who can trade large volumes. VIP account holders get more analysis and proactive trading guidance from our experts.
- “The Client acknowledges and agrees to pay commissions to third parties that help initiate and maintain a business relationship between the Company and its constituents. This includes rebates, commissions, spreads, and profit sharing. T
- “For inactivity, there will be some fees to be paid. The Client will be reminded of the inactivity and will be informed of the fee via email prior to the actual deadline.”
Note that an inactive account is one in which the balance falls below $100. In that case the account is frozen, and fees will be assessed unless the client deposits additional capital to bring the account balance back above $100.
Deposits & Withdrawals
Plutus Global has no charges for either deposits or withdrawals, but there may be fees imposed by the bank, credit card company, or electronic payment company.
The broker will accept a variety of deposit and withdrawal methods, which includes bank transfers, credit/debit cards, and several electronic payment methods.
As is true at any broker bank transfers are the slowest means of deposit and withdrawal. Deposits will take 1 business day to process and funds become available, while withdrawals might take as long as 5 days to process. Those time frames do not include any delays caused by the client’s bank. And there is a list of Plutus Global approved banks, with the broker only accepting deposits from the banks which are on that list. The list can be requested after opening an account.
Credit or debit cards are as always, the fastest method, with deposits available to trade immediately, and withdrawals processed within 1 business day.
Electronic payment methods vary depending on the company. In most cases both deposits and withdrawals are processed very quickly.
In all cases you can only deposit from and withdraw to an account that is in your name.
The only trading platform offered by Plutus Global is is the Traderssoft Trading platform. Clients are able to choose from the desktop, mobile, or web-based version of the award-winning trading platform.
Clients will enjoy the capabilities of the desktop version, which allows for trading most asset classes. Plus, it is one of the best platforms on the market for charting price action, and for performing technical analysis. Clients can use these abilities for examining currencies, stock and indices, and commodities.
With the power of Plutus Global trading platform behind them clients will be able to unlock new understandings of market movements. The platform comes with in-depth price history, making it easier to perform back testing of potential trading strategies. All of this is possible thanks to the strong technical analysis capabilities of Plutus Global trading platform.
In addition to all the above the platform also provides market depth data, which can be very useful in analyzing possible future price movement.
Plutus Global trading platform Mobile App
The Plutus Global trading platform mobile app is available for both iOS and Android devices, and it allows active traders to monitor their positions even if they leave the house. While there are some limitations in the technical analysis capabilities of the mobile version it is still a powerful trading platform and provides an extreme level of flexibility for traders.
Thanks to the capabilities of the Plutus Global trading platform clients can have access to the markets anywhere and at any time.
Plutus Global is very generous with the range of assets being made available to clients, especially once they pass the Rookie level and reach the Basic tier.
Traders looking for a solid forex broker will appreciate the wide variety on forex pairs made available on the platform at this broker. They not only have all the major forex pairs, but also many minor pairs, and even exotic pairs.
Forex isn’t all they have either. Clients can get access to precious metals, crude oil, and other commodities like wheat, corn, and sugar. In addition to that there are more than 300 popular global stocks, and over 40 different equity indices available.
Those who embrace risk can also add leverage up to 200:1 to their trading arsenal here, although using such massive leverage isn’t typically recommended.
There are four basic order types for clients. These are the market and limit orders, as well as stop orders and trailing stop orders. Clients can make changes to orders or cancel them at any time before they’ve been filled.
Trading Tools and Analysis
Traders will have access to all the technical analysis tools that come as a part of the platform. That provides technical analysis based on the trader’s own knowledge. Those who like to use technical analysis provided by experts . And the broker also provides actual technical analysis for those who reach the VIP level account.
Education and Training
There are no educational materials available. No guides, no webinars, no videos, no education or training at all. It is possible that some training is available to registered clients, but there’s no mention of it on the website. So, traders at Plutus Global will need to find another source for training and education.
Support can be contacted throughout the week on a 24-hour basis, but there is no weekend support, because there is no weekend trading. Plutus Global makes their support team available via online chat from the website, through email, or by telephone. According to the broker they have the best support in the industry. While that seems impossible to prove, we did find the support team to be professional, efficient, and knowledgeable about the policies and trading platform.
Independent Opinion & Rating
It’s true that Plutus Global is just getting started, but it seems they are off to a good start. They have a positive reputation and clients appreciate the open and transparent position being taken in the sometimes-opaque world of financial brokers. Our review of the services offered has largely been a positive one because the broker is doing the right thing in the right ways.
To note there’s a large minimum deposit required, even for the most basic account. It could be that Plutus Global knows what they’re doing in this though. Perhaps they aren’t looking to serve the community of beginning traders. Perhaps they are targeting experienced traders who appreciate their transparency, and who don’t need hand holding.
That theory is partially borne out by the large number of assets available for trade. Whether a trader is coming from the stock exchanges, commodity pits, or currency desks there is something available for everyone. And the low spreads can help improve profitability too.
With reliability, transparency, low spreads, and an increasingly positive reputation it could be worth giving them a try.