Warning! ProfiXtd is an offshore company! Your deposit may be at risk.
RECOMMENDED FOREX BROKERS
ProfiXtd, also known as XtraTrade, is what we would give anyone as an example if she were to asks us what the defining scammer broker looks like. There was no doubt that from the first moment to the last ProfiXtd behaved like an utter scam without any shame! What we found in this review acts as a warning for what to look out for in other scammer brokers.
The website reveals a whole lot of nonsense, nothing of which is useful, not only in terms of a regulation but as a whole. To trust this broker with anything is financial suicide.
The company claims to be exempt from certain Norwegian Acts, claims not to be insured by the Federal Deposit Insurance Corporation, and reveals a pretty useless certificate from the International Business Companies Act in the UK. What a collection of arbitrary claims, not one of which is in any way useful.
Although, if we were to be pedantic, out of these assertion, only the certificate can be looked upon with greater interest. It’s no doubt a forged one, but at least we can comment on it. Even if it weren’t a fake, and ProfiXtd was actually somehow registered in the UK, it still wouldn’t matter; in the UK any and every broker must be regulated by the FCA. There is no other alternative; ProfiXtd is not licensed nor affiliated with the FCA in any way.
ProfiXtd is actually not regulated anywhere!
Investing in unregulated brokers is the digital equivalent of throwing your money away for the wind to disperse it. It’s obvious that no one would do such a thing. Go with brokers that are regulated by trustworthy organizations like the FCA or CySEC. These entities work closely with the law, enforce it when called for, and have strict requirements for those under their gaze. Not to mention that those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).
After a care-free registration, we were met with a typical scammer broker user area. We have seen hundreds of these at the point where we can easily state that 95% of scams use a template for their client dashboards. Moreover, there was no trading software which at this point has become quite a staple with many unregulated brokers, almost turning into a trend.
Without a software to trade on, one cannot talk about any trading conditions; advertised or not, spreads, leverages, and assets do not apply here.
So, what applies here? With a software, what can clients do? Well, they can fall victims to the classic investment packages scheme.
If one is naïve enough to think that ProfiXtd or any other entity will pay the user a daily 2.5% return rate on a $10 000 deposit then he or she has another thing coming. Investing here leads to immediate financial loss; this is the most common investment scam in existence! It takes on a slightly different for here, but the premise is classic and very old.
PROFIXTD MINIMUM DEPOSIT
The depositing area reveals the following. The minimum deposit is $20. However, the minimum investment required for the packages is $50, so which one is it really? The answer is that it doesn’t matter; investments will be lost!
Two payment methods exist; a BTC and a Litecoin wallet. Both untraceable, both extremely risky. Once invested here, the money will be sent over to some unknown source from which the user will most probably not be able to get it back.
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
Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, oftentimes for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.
PROFIXTD WITHDRAW TIME AND FEES
The user area reveals that there are actually 4 crypto wallets by which a client can withdrawal. There is no such thing. All withdrawal requests will be denied, and the user will be left cashless.
But for the purpose of the review, let us see what else we found about withdrawals. There is actually a 1% fixed charge for withdrawals, while the minimum is $10.
It may seem favorable, but in reality the client will never see her money back.
Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.
Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.
HOW TO RECOVER
The most sound advice we could give you is to immediately file for a chargeback with you credit card company.
If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.
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!
ProfiXtd is nothing more than a scam. Make sure not to invest, but also do not provide it with any personal details. Th firm will manipulate all personal data and use it in its favor.