The PlutusLegacyTrust broker purports to be a top Forex/CFD provider with the best market conditions. However, this suspicious website is full of risks which isn’t easy to notice at first glance.
It exhibits deceptive practices like SS8FX. That’s why we’re here to expose the scheme and reveal the truth in our PlutusLegacyTrust review. Find out how you can recover lost funds with our professional aid.
| Regulated by: | Unregulated Scam Broker |
| Is This Company Safe? | No, the platform is fraudulent |
| Known Websites: | plutuslegacytrust.biz |
| Have Warnings from: | OSC |
| Registered in: | N/A |
| Operating since: | 2023-11-21 |
| Trading Platforms: | xStation 5, xStation Mobile |
| Maximum Leverage: | N/A |
| Minimum Deposit: | N/A |
| Deposit Bonus: | N/A |
| Trading Assets: | Forex, Indices, Commodities, Stocks, Cryptocurrencies |
| Free Demo Account: | Unavailable |
| How to Withdraw from This Company? | Since this company is unlikely to return your money, contact your bank or financial regulator or simply reach out to us for professional assistance in recovering your funds. |
Legal Info: Is PlutusLegacyTrust Regulated?
No, this platform is not regulated. There’s no information on the website about the legal background of this business, no documents, policies, phone numbers, etc. The bogus site boldly claims the business is registered in multiple reputable jurisdictions.
All lies, we’re afraid. The truth is that this business is blacklisted in Canada and Europe. Since the beginning of the year, the Alberta Securities Commission (ASC), Ontario Securities Commission (OSC), and Dutch Authority for the Financial Markets (AFM) have all issued warnings against the phony broker.
Instead of trusting anonymous fraudsters, we recommend choosing regulated firms operating under the supervision of reputable financial market authorities such as the FCA (UK), CFTC (US), ASIC (Australia), IIROC (Canada), MAS (Singapore), etc.
Such companies are subject to stringent regulations and must offer clients negative balance protection, segregation of funds in top-tier banks, and, in some cases, compensation schemes.
Who Are PlutusLegacyTrust’s Targets?
According to WHOIS, the PlutusLegacyTrust website domain was created on November 21, 2023. Since then, the virtual swindlers have mainly been targeting unsuspecting traders and investors from the following jurisdictions:
- United Kingdom
- United States
- South Africa
- Canada
- Australia
Five distinct jurisdictions, each with their own rigorous financial regulations designed to thwart virtual imposters. The U.S. is especially known for its stringent laws regarding the markets. There’s no room for anonymous websites.
We’ve already outlined PlutusLegacyTrust’s deceptive scheme, which has prompted scrutiny from regulators in the Netherlands and Canada. Like Summitrade, the fraud is on warning lists.
Trader Reviews – Sharing Experiences
We found several dishonest PlutusLegacyTrust reviews circulating online, but the reliable ones are on reviews.io. Although the company received an average score of 3.8/5 across 60 comments, the verified users all wrote complaints against the platform.
“They can be bossy and want more than you might want to give. Sometimes, they may even block your account and make it hard for you to get your money. Also, their customer service team might not keep their promises, making you feel upset and tricked,”
– one user stated.
User feedback may be the secret sauce for identifying trustworthy companies and avoiding scams. Before investing, take the time to see what other traders and investors are saying about the platform. Reviews like ours can guide you from potential losses and help you make well-informed decisions.
Which Trading Platform Is Available?
PlutusLegacyTrust claims it offers the xStation 5 platform for desktop and mobile devices, as well as a web version offering Forex pairs, indices, stocks, commodities, and cryptocurrencies. We saw the basic browser-based interface, and it was disappointing. Although it included essential tools like charts and indicators, it fell short of advanced features.
And let’s not forget the broker’s cutthroat background. Traders indicated that the platform is full of malfunctions. Therefore, we recommend avoiding this broker and opting for a licensed provider that supports reliable third-party software like MetaTrader 4, MetaTrader 5, or cTrader.
MT platforms offer a ton of advanced tools, including automated and algorithmic trading, sophisticated charting, multiple timeframes, live market reports, expert advisors, and more. They’re a much better option for serious traders.
Trading Info – Leverage, Spreads, Commissions
PlutusLegacyTrust promises high leverage for Forex trading, but the website does not disclose specific details, a tactic common among illicit brokers. Some sources suggest it goes up to 1:1000. It’s crucial to recognize that high leverage is a double-edged sword.
While it can yield substantial profits if trades go well, it can also lead to significant losses if they don’t. This is why European and North American regulators have set lower leverage caps for retail clients at 1:30 and 1:50, respectively.
Additionally, spreads and commissions are not transparently displayed. The platform shows a spread of 2 pips for the EUR/USD benchmark pair, which is pretty wide and uncompetitive.
Can Traders Use a Free Demo Account?
Faceless tricksters often do not offer demo accounts. The PlutusLegacyTrust login page does not offer such an option. This forces traders to deposit real money to access the platform, giving scammers the opportunity to steal it before users realize what’s happening.
If you’re new to trading, it’s vital to start with virtual funds. Don’t risk real money immediately. Every reputable broker offers a demo account, so there’s no need to gamble on dubious websites.
Deposit and Withdrawal Process
The shady website failed to disclose the available payment methods for funding a PlutusLegacyTrust account, and the minimum deposit is also unknown. Nevertheless, depositing is relatively easy, but the problems lie in attempting to withdraw funds, per the reviews.
If you encounter withdrawal issues, it’s often a clear sign that you’ve been caught in a scam. If this happens, exploring ways to recover your money is crucial.
For transactions made with a MasterCard or Visa credit/debit card, you can request a chargeback from your issuing bank within 120 days. To do this, build a strong case and provide substantial evidence. Gather all relevant information and documents.
If you used a wire transfer, you can request a recall through your bank. This only works if the money hasn’t already been transferred to the scammer’s account.
Key Facts To Consider About PlutusLegacyTrust
PlutusLegacyTrust is an utter sham platform designed to rob users. The financial swindlers behind it are targeting unwary traders from the US, UK, Australia, Canada, and South Africa. The platform appears on the AFM, ASC, and OSC’s regulatory warning lists.
We do not recommend trading on such platforms due to their unregulated status. If you are a victim of the PlutusLegacyTrust scam, you must seek our professional help to recover your funds! A chargeback is your best option.
Use the form below to book your free consultation with Scam Brokers Reviews and tell us more about your case. Our team will gladly guide you through the fund recovery process and assist you every step of the way.
Book your free consultation here and start the chargeback process.
FAQ Section
What is PlutusLegacyTrust?
It’s an anonymous website claiming to be a legitimate brokerage firm. In reality, it’s a complete cyber hoax.
Is PlutusLegacyTrust Legit?
No, this shady platform appears on three regulatory warning lists: the AFM, OSC, and ASC.
How to Get Money Back From an Inactive Broker?
You must get a chargeback since you cannot request a PlutusLegacyTrust withdrawal. We can help you throughout the process.
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