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Profit Trading Ltd Review - is it scam or safe?

Profit Trading Review - is profittradingltd.com scam or good forex broker?

RATING: 1 / 1 REVIEWS ForexBrokerz Profit Trading Ltd
Profit Trading Ltd is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Investment plan  Min. deposit  Weekly returns
Starter  $200 20%
Professional  $20 000 32%
Business  $100 000 40%
Enterprise  $100 000 90%

 

Profit Trading Ltd. (Profit Trading) presents itself as an online forex trading and investment management company based in London, UK. It offers its clients a choice of several investment plans, however, the trading conditions and platform remain unclear, and a number of things are not right with this broker in general.

 

Read this review of Profit Trading as it will shed some light on its nature, and answer the most important question of all: is it safe investing with it? 

 

 

Profit Trading Advantages

 

We usually try to list any possible advantages a broker might offer traders in the beginning of our reviews. In this case however, for obvious reasons we are compelled to leave this section empty.

 

 

Profit Trading Disadvantages

 

Exposed by the FCA as a clone

According to the information on its website, Profit Trading Ltd. is headquartered in London, UK. However, the broker’s website mentions nothing about license, nor regulation, and financial services providers in the UK have to be authorized either by the local Financial Conduct Authority (FCA), or by a similar agency in another EU Member State.

 

So, we checked whether Profit Trading is present in the online register of the FCA, and found out that the address listed on the broker’s website indeed belongs to an authorized firm. This company, however, isn’t related to profittradingltd.com website, and the latter illegally uses the address of a duly regulated entity. This is a popular scam tactic known as “a clone firm”, and such entities are suspected of knowingly participating in investment scams.

 

 

As always, we strongly advise our readers to do proper research on the company before opening an account, giving out any personal information and money, as well as to carefully check the registries of the relevant financial authorities.

 

Zero clarity on trading conditions, no platform

While Profit Trading has presented a number of different investment plans, it has not specified a lot of essential trading details, such as the maximum leverage provided, the typical spreads, and so on.

 

Needless to say, it doesn’t offer free testing service either, se we opened a live trading account (without investing any money) in order to be able to at least take a look at some trading platform. Unfortunately, we got access to some user dashboard, which only allows traders to deposit.

 

This inclines us to suspect that Profit Trading doesn’t support any trading platform whatsoever, only aims at receiving deposits from clients that are unaware of its ill-minded intentions.

 

Unrealistic returns

As we have mentioned, this broker promises skyrocketing returns, such as 20% -90% after only 14 days of trading. Yet, Profit Trading provides no description of the trading strategy they apply, nor any historical performance.  As was mentioned above, potential clients of the broker don’t know even what platform it uses, and whether it uses any at all.

 

No binding documents

The Terms and Conditions or the Client Agreement is a key legal document that defines the relations between a broker and its clients. That said, we couldn’t find any such document on Profit Trading’s website, nor were offered such after signing up with the broker. Without regulatory oversight and binding documents between the broker and the client, the company is pretty much free to conduct business as it sees fit.

 

 

Conclusion

 

Overall, Profit Trading appears to be a total fraudster – the website uses the details of a FCA-licensed company in an attempt to mislead investors, there is zero clarity on the trading conditions and platform, and there are no binding legal documents.

 

As always, our best advice for traders looking for a reliable forex broker, is to select among those licensed by reputable financial agencies such as the FCA in the UK or CySEC in Cyprus. Also, don’t forget to check the companies’ names as well as approved domains in the public registers of the respective authorities.

 

 


>> Find the best UK FCA-regulated brokers <<

 

 

And finally, here are the highlights of the present review of :

 

Pros Cons
None Blacklisted by the FCA as a clone
  Zero clarity on trading conditions, no platform
  Unrealistic returns
  No binding documents

 

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Traders` reviews for Profit Trading Ltd

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