Thee Pluto may not be a scammer, but he promotes incredibly risky investments

Accusations

Thee Pluto has been accused by people, such as Andrew Kibe and Xtian Dela of being a scammer. There is little evidence of this, but looking at his profile, he promotes things such as contract for difference, binary options, crypto and forex. 

Contract For Difference (CFDs)

These are incredibly risky, financial tools, which while legal, they have an insanely high rate of failure. Your chances of losing your investments in such things is very high. Let’s look at for example contract for difference. These are derivatives which basically mimic an underlying asset. So let’s say you have a contract for difference for Apple stock, you wouldn’t be buying the actual Apple stock, but you would be buying a derivative that basically tracks the movement of actual Apple stock. However, this would now mean that you would not be trading with other people on the CFD but instead you would be trading against the house. The house now has an incentive to take your money rather than let you make a profit. And so in order to  do this, they pile fees on to your transaction such that you can only make money by doing day trading. 

By forcing you into risky day trading activity, your chances of losing your money become incredibly high. This is because the most sensible form of investing is usually to buy and hold stocks for a long time, but through daytrading now your risk of losing money is very heightened.

Binary Options

Another product he promotes, are binary options, which are basically a way of turning stock trading into betting. With binary options, you basically bet on whether a stock will go up or down. If the stock goes up, you win some money and if the stock goes down, you lose all your money. As you can see, this is basically betting, with the veneer of the stock trading to legitimize it.

Buyer Beware

On the other products, he promotes, which are crypto and forex, the risks are well known. In conclusion I would say that everything Pluto promotes is perfectly legal, but buyer beware because he selling very risky instruments