Profit Trade Review
Reason to avoid: Offshore license
Listed Date: October 14, 2018
Top 3 Forex Brokers
Beware Profit Trade is a Non-Regulated broker. It is NOT SAFE to trade.
- Our Review
- Profit Trade User Reviews
- Profit Trade News
Is Profit Trade Scam or Legit Broker?
No, it is not safe to trade with Profit Trade. Profit Trade is owned 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. 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.
About Profit Trade
| 🗺️ Registered in | Marshall Islands |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is Profit Trade safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | FP Markets - licensed by ASIC in Australia |
What is Profit Trade?
Profit Trade is an offshore forex broker . 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."
Profit Trade Review Conclusion
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 FP Markets and TMGM.
Profit Trade Update
Profit Trade website remains inactive and unavailable to reach. This means the broker has muted its trading offering and does not propose account openings.
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.
Thieves and scammers. They rob your money and you never see it back. Use fake names like Mary Stone, Annabelle Johnson, Victoria Gomez, Kevin Brown, Brian Waugh, with fake mail adresses, mostly at proton mail (company awarded grants by the EU!!!) and a bunch of anonymous phone numbers, London, Frankfurt, mobiles from Ukraine, Cyprus, Australia, etc.
I filed a complaint with the criminal police and the financial authorities for fraude, robbing and money laundering
Did you get any news about them from the authorities?
Criminals. Phone-terrorists. Profittrade steals your money and calls on and on to get more even if you say they already had stolen all your money.
Scammers and thieves. Profit-trade steals all your investments and you never see any money back. Operate with fake name like Mary Stone, Annabelle Johnson, Kevin Brown, Victoria Gomez, fake phone numbers and dubious email providers. So be aware of any contact with these criminals. Filed a complaint for money-laindering
They asked to deposit 500 $
And they will trade crypto
Tried to withdraw several times the attempts where just canceled just like that till the balance goes 0.00
Then it seems like they were offering some sort of credit of 250 $
I trade with it raise 100 $
The balance is now 115
Want to withdraw it nothing happened
They have this so called account manager by the name of Carlos this guy have PhD on scamming people
Now after a year and half this guy called me telling me that I have interesting fund in order to access them I must pay Barclay 1050$
They just can’t stop please help if not me tThen help others
SCAM!! Be careful! They say they are based in Austria (there is no indication of that), but cannot provide you an identification number. They are based in Bulgaria, Marshall Islands and Dominica! They have very aggressive tactics to convince you to invest – and if you do there is absolutely no way you will be able to get your money back simply because they are in no serious country you could turn to. Your social media posts shall be deleted. They will keep changing their website so be careful!! profitstrade.com and profit-trade.com are the same scammers!
THey have a new website what is now profitstrade.com, the company is the same be warned !
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
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.
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
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