Profit Trading Ltd

Profit Trading Ltd looks very professional, and has the potential to mislead many traders. Read the review to see if this broker's claims are true, or is there something off happening here?

Well, we're off to a rocky start. The broker has not included any regulation information that would put it under the supervision of any legitimate financial overseer. There are no legal documents inlcuded as well. We found in the footer a Privacy Policy and Terms and Conditions, but once we clicked on them they redirected us to the main home page. Furthermore, the website uses google translate to give users access to a huge array of languages. All of these (and many more small aspects) speak the truth: Profit Trading Ltd is UNREGULATED and therefore a risk to all investors!

We strongly advise traders to trade only with regulated brokers that hold a license from renowned and severe institutions such as the FCA or CySEC. Not only do these agencies oversee operations and require regular reports from brokers registered with them, but those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC)

The further we dig, the more problems reveal themselves. For example, the most obvious one is the missing trading platform. There is no indication or mention of a functioning trading terminal. Thus we cannot give you a leverage values, spread of any kind, and trading assets.

PROFIT TRADING LTD LOGIN

As we mentioned, there is no trading platform to speak of. Once we registered, we were presented with a simple dashboard, that did not include a trading software. This means that any trading conditions that the broker claims to offer are probably fake news. This is one of the biggest tell that users shold absolutely not trust this broker with their money.

PROFIT TRADING LTD MINIMUM DEPOSIT

The minimum deposit is $200. As for a depositing method, we found that we could only proceed by means of cryptocurrency. This method of paying is notorious because it is untraceable, thus you money can go and dissapear forever.

Due to he broker’s lack of any regulation, we advise against depositing any amount whatsoever. If traders wish to invest in online forex, they will find that any FCA/CySEC regulated broker will surely do. These agencies are at the top of their game, demanding a strict conduct from brokers, and requiring regular reports on their activities.

DON’T PROVIDE YOUR CREDIT CARD CVV CODE

The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.

DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER

It may or may not happen, but if an unregulated broker asks you to install AnyDesk or TeamViewer and give them log in details, consider yourself very open to a complete drainage of your funds from all your online accounts. These software allow for anyone to access your PC from another station and go through all your files and vital information, including credit card, bank and alternative payment method details. Thankfully, these platforms are completely legal and will need your own personal approval in order to be used.

PROFIT TRADING LTD WITHDRAWAL TIME AND FEES

As far as we're concerned, withdrawals are not possible. We found no actual way to request one. There are no legal documents to provide users with solif information concerning withdrawals.

ADDITIONAL FEES AND TAXES

Since there are no legal documents, we cannot expose any fees or suspicious clauses. This does not mean that the broker will not launch fees. In fact, unregulated brokers are known for charging clinets with unprecedented fees. Furthermore, illicit firms do not care who you are and what your situation is; all they see is money, and they will trick you into giving it to them every chance they get. It is only logical then, that any attempt at withdrawing will be unsuccessful. The most popular excuses for denying your withdraw requests are usually smart and for the most part scripted. These include but are not limited to asking for more deposits in order to withdraw, or just prolonging your pending withdrawal by claiming that the market will suddenly propel, multiplying your winnings by unrealistic proportions.

ACCOUNT VERIFICATION

We strictly advise against giving away an ID and proof address to unregulated brokers: they can be literally anyone with enough time and skill to mask themselves as a broker. Usually, these individuals use the anti-money laundering legislation as front for when traders start to get suspicious. Once this suspicion is confirmed and you file for a charge back, they will use your details against you case.

We are positive that this so called broker will not return your funds; the evidence we have laid out before you work in sync against it. The sound thing to do is to direct your attention and investment to an FCA or CySEC licensed broker where the law is integrated in every aspect of their operations.

HOW TO RECOVER

Filing for a charge back is the best advice we could give you. Immediately contact your bank or credit card company and lay out the circumstances.

Cancel your credit card if you have shared any notable details with the fraudulent broker, especially if you have provided them with the card’s CVV code. If such is the case, annul your credit card ASAP.

Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.

The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!

BOTTOM LINE

Profit Trading Ltd is a complete scam, and one of the wors so called brkers we have seen. Everything about it is illegitimate. If you value your money, do not deposit here at all! Stay away!