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Profit Trade Review - is it scam or safe?

Profit Trade Review - is profit-trade.com scam or good forex broker?

RATING: 1 / 18 REVIEWS Profit Trade
Profit Trade is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts & Conditions

 

Account type Minimum deposit Maximum leverage Spread
Educational  $250 1:100 Fixed, 3 pips
Standard  $2500 1:150 Fixed or floating
Premium  $20 000 1:200 Not specified
VIP  $50 000 Not specified Not specified
Tailored  Not specified Not specified Not specified
Robot  $5 000 1:200 Not specified



Profit Trade is a forex and CFD broker that appears to offer a multitude of everything from account types to tradeable financial instruments. Nonetheless, we cannot say that it radiates a lot of credibility. Read on to understand why.



Profit Trade Advantages



Wide range assets available for trade
With Profit Trade one can trade in a wide selection of currency pairs, CFDs on commodities, indices, stocks, and some of the most popular cryprocurrency pairs. More specifically, the latter include Bitcoin, Ethereum, Litecoin, Dash, Bitcoin Cash, and Ripple. They are traded against each other, EUR, USD and AUD.

If you are one of the crypto-enthusiasts, however, Profit Trade is hardly the best choice for you. It is not a company that is licensed as a financial services provider and therefore is not credible.

 


>> Trade Bitcoin with a well-regulated broker instead <<

 


Solid leverage levels
This broker lets clients use leverage up to 1:200, which is pretty much the standard for brokers who don’t have regulatory limitations. Leverage is capped in the US, Japan and currently throughout Europe, as it brings in high risk of loss for investors.

 

Profit Trade Disadvantages



Offshore broker, shady registration
The most important thing about any broker in general is whether it is licensed and monitored by a financial authority. It is essential for traders to know that they have some sort of governmental protection.

Profit Trade is allegedly owned by GPS Marketing Ltd and provides two addresses on its website – one in Sofia, Bulgaria, and another one on the Marshall Islands.

The company is not regulated by the Bulgarian Financial Supervision Commission (FSC), nor any appropriate agency. As regards the offshore islands, we have reviewed a number of other shady brokers registered on the same address as Profit Trade: iForex24, CryptoEU, Tradex1, PBN Trade and FXG Invest, to name a few. You’d better read some of the user comments to our reviews if you are considering opening an account with Profit Trade or any other broker with whose address is on the Marshall Islands, Majuro, MH96960.

 

MetaTrader 4 not available
Instead of the popular MetaTrader 4 (MT4), Profit Trade uses a proprietary web-based platform that is very basic, with no analytics whatsoever, nor automated trading options. Here is a preview:





Profit Trade' in-house web platform. Click on the image to zoom in.

 

Meanwhile, the MT4 platform hardly needs a presentation. It is the most widely used forex trading terminal that has proved its reliability and ease of use over the years. Besides, it has great charting, analytic tools as well as wide range of Expert advisors for automated trading.

 

 

>> A list of MT4 brokers <<

 

 

High fixed spreads
This broker does not specify the spreads on its website, but as we opened an account (a real one, without depositing), we saw that offers fixed spreads. Profit Trade’s spreads are far from being competitive, as they are fixed at 3.0 pips on EUR/USD. Most fixed-spread brokers provide spreads fixed at 2 pips for this pair, and some, like easyMarkets, offer even lower.'

 

 

>> Compare the spreads of the best brokers in real time <<

 


$250 required as a start
A minimum deposit of $250 may not seem that much to some of you, other forex brokers have much lower requirements. For instance, you can open an account at easyMarkets, a global forex broker regulated in Cyprus and Australia, by investing a mere $100.

 

Besides, the minimum deposit amount via a wire transfer at Profit Trade is 1,500 USD.



Conclusion



Profit Trade has a rich and diversified product portfolio, including a plethora of cryptocurrency CFDs like Bitcoin and Ripple, which are one of the most popular assets on the financial markets.

However, this broker not regulated and not to be trusted, as it has the same registered address on the Marshall Islands as a bunch of other shady brokers, and might be a scam.

That is why you’d better avoid Profit Trade and offshore brokers in general and choose among financial services providers licensed by one of the most respected financial regulators – the Financial Conduct Authority.

 

 

>> A list of brokers regulated in the UK <<

 

 

Here are, in a nutshell, the advantages and disadvantages with regards to Profit Trade:
 

Pros Cons
Wide range assets available for trade Offshore broker, shady registration
Leverage up to 1:200 High fixed spreads
  MT4 not supported
  $250 required as a start

 

Latest news about Profit Trade
No news about Profit Trade . Check back later.
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Traders` reviews for Profit Trade

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Absolute scammers

Total scammers. Wouldn't let me withdraw money. They have suspended my account and said I need to send documents to prove identity. Even though I've sent all they have asked they still wouldn't unblock my account. They kept dragging it for so long that now all my deposit has disappeared and of course no one ever answers emails.
I wish there was some way to force them to give deposits back, but so far I didn't found anything/anyone that would help.

K 05/23/2019

Scammed

Hi my name is sanele ntombela from South Africa I joined profit-trade 3 months ago and I've been trying to withdraw my funds but no transaction has been made till today I've been getting messages like your broker will contact you soon but no broker contacted me and I don't know what to do anymore because I went to the loan shark for the money so that I can open an account with profit-trade, and now the loan shark is tratning to kill me and my family if I don't pay them back there money

Sanele 04/30/2019

Profit trade is fraud

They took my money and that stupid manager Bernard isnt responding to our mails or calls and their customer service is much poor... want to complain to police...

J 04/25/2019

aggression menace of death during 10 month

It s amazing to said that. they are permatly agress me by phone since 10 month with menace of death and try to racketeering me and ask me 1000 euros immediatly for stop harssement. they are criminal how i s posible the police does nothing about them?

If some person want make a group and go to the justice again them i m in.

Grégory Dos Santos 04/19/2019

Scam

This is a scam company. Take your money and don't let you withdraw funds

Pamela Grieve 04/01/2019

Mi inversion

Señores

Buena tardes

Yo invertí con ustedes, pague mis impuesto han pasado dos meses y aun no me tranfieren nada ni mi plata ni la que supuestamente me gane.

Les habia enviado a tres personas mas pero le avise que eso es un engaño
y una falsa ilusión, para el que desea tener algo mas.

Translated by Google:

My investment
Sirs

Good afternoon


I invested with you, pay my taxes two months have passed and I still do not transfer anything, neither my money nor the one that supposedly wins me.

I had sent three more people but I warned him that this is a hoax
and a false illusion, for which you want to have something else.

beatriz Rodriguez 03/20/2019

Scam company profit-trade.com

I want to share my experience in online trading with some fake company. Please read below and share in your news. You may contact me for more details.

We found one ads on google for profit-trade.com company. We thought that the company is genuine, so we show interest to invest in it. Later they start calling several times, initially, we invested $250, then they start calling to increase investment giving a reason of unable to do big trades and gave us promise of a big profit. Later invested more $6400. They start trading on "profit-trade.com" platform, this platform is fake, not actual trading. After showing some profit in my account since last 3 months, we request them to withdraw some amount and then they do some trick and make my balance zero. And said that this one did due to I opened the account with auto-trade system, which I have not done. Also, they never said about this problem in 3 months of trading time. I complain to profit-trade and Manager, who looking after my trades (Mr. Dan Bauer), but no one reply to me by email. They called me from no:+43-720775802/8030. Now, they said that your account has zero balance, can't do any trade. So, basically my money is gone and they run away.

Mr. Dan Bauer Email : [email protected], [email protected]

I request you to please stop or banned such online companies. It may help many people by avoiding investment in such companies.

Sam 03/19/2019

Profit Trade Stole My deposit and Dan Bauer is Blacklisted Trader

Firstly, after Profit Trade stole my deposit, and they did, I have been digging deep into the 'broker manager' Dan Bauer who called me and who behind this website trading. Here is a link, the guy has been blacklisted by a reputable operation who refuse to trade with hm.https://uk.investing.com/broker-blacklist/
Scroll to find Dan Bauer listed.
I only invested 250 euro because I actually invested into what I believed to be EASY TRADE app and as soon as I did invest into easy trade it automatically moved my funds to the affiliate broker, profit trade. i didn't sign up for profit trade. As soon as I made my deposit, dan Bauer started relentlessly calling and mailing, meanwhile i was not able to use the 'auto trade' option online, as guess what, i didn't have enough invested, even though all the copy and reviews said you only needed 250 to start using auto trade. So dan speaks to me and immediately says I need to put another 2000 euro in, he also says I can withdraw anytime, the profit trade operation is regulated and he is regulated, i said i don't have any more funds, Dan Bauer put the phone down on me. I got back to website of profit trade and press the withdrawal button. Immediately i get a mail saying my withdraw is cancelled and I need to invest more to stop 'margin charges'. I email all the addresses and customer service they send me one line replies saying it will take ten days, then nothing, then my 'manager' will call, of course that is dan bauer and he does not call, nor ever respond to any mail, i sent about a dozen mails begging for my funds back as promised. all ignored. Then I get an astounding amount of automated emails from profit trade, asking for more funds to avoid the 'margin fees' one every hour for two days at least, while at the same time, profit trade drains all my deposit funds out over the course of 24 hours, taking money bit by bit, they steal all my money. Its not a huge amount but I want to bring this company and Dan Bauer to justice and struck off from trading, they are outright scam artists, they have probably done this trick to thousands of normal people like me.
Does anyone know how i do this? legally? does anyone want to join a group to raise the issue to the financial conduct and banking authorities in the USA and Europe?

adrienne merrill 03/11/2019

Scammers! Stay clear, do not invest

I invested 250 Euro with this so called company. They did the talk. Constantly calling me and using WhatsApp to text me all the time. Jacob tried to get me to invest more and more money but I would not. After the first few days I felt that something was wrong. He was constantly trying to get me to up my investment. He said he would manage it for one week after that it would not be profitable for him to do so. For three days he text me "today we have made 20 Euro. I told him that I would invest more if and when I was happy I could get my original investment back. When it came to making a withdrawal my account was suspended. Then they said they needed more ID off me. I knew I had to resend this if I wanted to stand any chance of getting my money back. I had the account verified and then I made a withdrawal. It then said I needed my account manager Jacob, who had fallen off the face of the earth and was no longer answering any of my texts or calls to authorise this. So now they are holding my investment to ransom waiting for the illusive Jacob to make an appearance. So my balance was 298.68 Euro and they say they have given me a refund of 250 Euro although I have not had this yet. Now what has happened to the profit on my investment. Jacob in my opinion had been sitting there feeding my balance with 20 Euro each day to make me think he's making a profit for me. And now that I have asked for my funds back he has taken his money back. Either that or it has fallen off the face of the earth along with Jacob. I am lucky that I was in a position to be able to loose 250 Euro, not that I want to loose it. But please be aware these people are SCAMMERS DO NOT INVEST ANYTHING WITH THEM.

Christine Zuazua 03/06/2019

Fraud company profit-trade.com

Dear sir,

I want to share my experience in online trading with some fake company. Please read below and share in your forum and suggest to ban such companies. You may contact me for more details. 

We found one ad on google for profit-trade.com company. We thought that the company is genuine, so we show interest to invest in it. Later they start calling several times, initially, we invested $250, then they start calling to increase investment giving a reason of unable to do big trades and gave us a promise of a big profit. Later invested more $6400. They start trading on "profit-trade.com" platform, this platform is fake, not actual trading. After showing some profit in my account since last 3 months, we request them to withdraw some amount and then they do some trick and make my balance zero.

Now, they said that someone hack my account and did wrong trading, so they can not retrieve money. Later, they said that it is due to open account with wrong setting, so they try to escape from this situatioin. I complain to profit-trade and Manager, who looking after my trades (Mr. Dan Bauer), but no one reply to me by email. They called me from no:+43-720775802 / 8030. Now, they said that your account has zero balance, can't do any trade.  So, I think, my money is gone and they run away. Below are the contact details.

Mr. Dan Bauer Email : [email protected],
PROFIT-TRADE.com email : [email protected]

I request you to please stop or banned such online companies. It may help many people by avoiding investment in such companies.


with regards.
S.Sure

santosh 03/05/2019

Working on it

Well I have my bank legal team on the case although am not sure I will get my money back I have warned profit trade send me my money back but clearly as we all here know now there a bunch of scammers I will try my best to take there platform apart and any one who works for them, we all who have been scammed contact our local regulators etc.

we will get these ....... closed down

frank gordon 02/28/2019

Still investigating them

My opinion there shady traders, I opened up with $250 with the account then a couple weeks later I wanted to cash all I get back is saying''I need to validate my details with a my credit card amount of numbers utilities bill etc, I did it three or four times and they keep sending me the same message back you need to validate yourself I've tried to call them but their brokers are never available and then they try to get me to put 1000 in trust me anybody who's thinking of using them don't bother I think there criminals and you won't get your money back I have my legal guys on it we'll see

Frank gordon 02/25/2019

They are online scammers

THEY ARE NOT COMPANY AT ALL. They are just ONLINE SCAMMERS. 20 min ago I had got a call from them +441216237922 After I told my opinion about their professionals who are STUPID as my boots, the guy became mad, aggressive and rude... The guy is funny stupid idiot, not more :):) :) If somebody wants to feed scammers, go on!

Zivile 02/15/2019

Profit Trade - Very bad company

Dear sir,

I want to share my experience in online trading with some fake company. Please read below and share in your news. You may contact me for more details.

We found one ads on google for profit-trade.com company. We thought that the company is genuine, so we show interest to invest in it. Later they start calling several times, initially, we invested $250, then they start calling to increase investment giving a reason of unable to do big trades and gave us promise of a big profit. Later invested more $6400. They start trading on "profit-trade.com" platform, this platform is fake, not actual trading. After showing some profit in my account since last 3 months, we request them to withdraw some amount and then they do some trick and make my balance zero. And said that this one did due to I opened the account with auto-trade system, which I have not did. Also, they never said about this problem in 3 months of trading time. I complain to profit-trade and Manager, who looking after my trades (Mr. Dan Bauer), but no one reply to me by email. They called me from no:+43-720775802/8030. Now, they said that your account has zero balance, can't do any trade. So, basically my money is gone and they run away.

Mr. Dan Bauer Email : [email protected], [email protected]

I request you to please stop or banned such online companies. It may help to many people by avoiding investment in such companies.


with regards.
S.Sure

santosh Sure 01/29/2019

ProfitTrade is a very bad company. Do not invest, otherwise your money gone

We have click on google ads of profit-trade.com company. And we show interest to invest in it. Later they start calling several times, we invest first $250, then they start calling to increase investment due to unable to do big trade showing big profit. Later invested more $6400. They start trading on profit-trade.com platform, this platform is fake, not actual trading. After showing some profit in 3 months, we ask to withdraw some amount and then they do some trick and make my balance zero. And said that this one did due to i open account with auto-trade, but they never said about this problem in 3 months of trading. I complaint to profit-trade and Manager, who looking after my trades (Mr. Dan B.), but no one reply me by email. So, basically my money gone and they run away. So, do not invest any money in this website.

santosh Sure 01/26/2019

Estafa

Esta página de Profit Trade es una estafa te hacen invertir luego que inviertes hacen crecer tu cuenta para que creas que funciona en realidad y luego pedirte más dinero y cuando obtienen lo que quieren se desaparecen si rastro alguno.

Translated by Google:

This page of Profit Trade is a scam they make you invest then you invest you make your account grow so that you think it really works and then ask for more money and when they get what they want they disappear if there is any trace.

Gissell 12/05/2018

Cannot Withdraw Funds

I believe Profit-Trade is a SCAM. The so-called account managers are available and contactable any you want to deposit funds or trade. When want to withdraw Profit-Trade becomes a Ghost Company. Account managers will not reply and the support team will not rey as well. Can anyone help me make a report to a financial regulatory institution? Plea

Vijakumari Krishnan 10/30/2018

Profit Trade - scammers

Good day.
September 7 was the first recharge. On October 22, the account was reset with a change to the trading account password. Lost $ 56,000.
I can tell everything in detail.

Денис 10/25/2018
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