Is Profit Trade a scam or legit broker?

No, it is not safe to trade with Profit Trade. Profit Trade is own by Global Top Marketing LTD. which is an offshore company registered in the Marshall Islands.

The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as Dax300, Trader.Online and more. 

The only address that can be found on the website is the Marshall Islands address, although they provide the contact phone number with British country code. Usually, it means that the company wants the clients to think it is located in the United Kingdom. In order to be able to offer its services in the UK, the broker would need to be regulated by the Financial Conduct Authority in the UK. So far, we couldn’t find any records about this forex firm in the FCA’s register.

Moreover, the broker has recently been banned by Austria’s Financial Market Authority:
“Global Top Marketing LTD (www.profit-trade.com) are not entitled to carry out banking transactions in Austria that require a licence. The provider is therefore neither permitted to trade on a commercial basis on its own account nor on behalf of others.”

We advise all investors and traders to avoid Profit Trade and other brokers from the Marshall Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as IG Markets and eToro.

Robert From United Kingdom | | Wednesday, July 24, 2019

decent broker, no issues worth mentioning, could withdraw when i wanted and had good selection of crypto to trade, like their MT4 better then their own platform. and the conditions and costs are fair till good.

No news available.

4 responses to “Profit Trade”

  1. had good experience with this forex broker, no real issues and decent support, trading with them now for little over 9 months and am so far satisfied

  2. stay far from them is scam
    you cannot trust them
    you will send money they will increase by themselve yur amount by few tradint for beat you
    after ask you invest more
    for my side i try withdraw after and nothing come
    all my acc is verified and nothing move
    stay far from them
    nick carter then fake name is an big liar and all team there too

  3. They took my £250 to connect to Cryptomasterbot.
    Did not connect to their site, and agreed to the withdrawal.
    Now some 7 weeks after agreeing on a withdrawal I have still not got it, and guess what. It’s now down to £80 on my account.
    I Have instituted a claim back from Visa. FOR THE FULL amount. These people are out and out crooks.
    Keep away from them.

  4. ok broker, deliver what they promised at least to me, I never trade through bots so I cannot comment on that, for my trading purposes and activities this broker has been as solid and good as others I am using like AVA and XM so for me they have been and are a positive experience

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