Best Choice For Beginners!
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Profit Trade Review – is profit-trade.com scam or good forex broker?
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.
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.
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.
Best Choice For Beginners!
Free Trading Education!
Free Demo Account!
Big Sign-up Bonus!
Perfect For Experienced Traders!
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.
FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
Trading212 is a European broker with an excellent proprietary trading platform, which is now available as an iPhone app as well (we tried it out and we loved it). Trading 212’s customers enjoy fast execution a vast selection of trading instruments.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.
Traders` reviews for Profit Trade
They force my to pay additional tax
THEY request aditional invest i reuest to returnd my funds +profits and they force my to pay tax denominanted SKAT-i request copy of legislation an never received–they want me to deposit from my country but it is not posible-am under the impretion they want to desapier more money–resosable name alejandro alvares-
Very unserious&bad company
Unserious company..please never invest your money because you will lose all for sure. very bad and unserious company.
never trust them
at the begining they hep you to trade they make trade for you to for show you it work,
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The Bitcoin Profit Scam Is Shocking! Read My Honest Review Before Signing Up
The Bitcoin Profit system claims it can enable you to earn millions from Bitcoin even whilst the crypto markets are crashing & you’re even led to believe that you can begin generating your first profits just moments after signing up…
But no doubt you probably suspect that those kinds of promises sound a little too good to be true, and I don’t blame you… So what’s the deal, is it actually legit, or is the Bitcoin Profit system a scam that’ll just end up taking money from you rather than actually helping you make it?
Thankfully if that’s what you’ve been trying to find out you can rest assured that you’ve landed in exactly the right place as I’ve took a closer look at how it all works & in this honest review I’ll be uncovering everything you need to know, including whether you can really actually make any money with it or not.
What Exactly Is The Bitcoin Profit System?
The Bitcoin Profit system basically claims to be an automated trading system that can allegedly guarantee to generate you profits from crypto-trades even if the value of the cryptocurrency is actually going down rather than up.
So whereas typically people will buy a particular cryptocurrency in the hope that the value of it rises so that they can sell it for more at a later date & profit, the Bitcoin Profit system actually places bets on whether the price will rise or fall during a set period of time.
This means that even if the value of Bitcoin dropped, providing the bet placed by the system was that it was going to drop, you as the trader would still profit because you didn’t actually buy the currency… You just placed a bet on what it was going to do.
But how do you know whether it is going to go up or down? Well, you don’t… And by norm this means of trading, which is known as binary options trading is actually VERY risky… Because it’s closer to gambling than trading.
It’s so risky in fact that even Forbes themselves published an article warning people about it (shown below) and many – including myself have branded binary options trading as nothing but a scam.
But this is where the Bitcoin Profit system comes into play, because this particular system claims that it has been developed around a “secret” algorithm which can indeed (allegedly) predict whether or not the price of cryptocurrency will rise or fall… And this is how they claim to be able to guarantee you profits.
The system looks for trends, detects whether it believes the cryptocurrency value will rise or fall – and then places trades on your behalf. The idea is that you’ll begin making money on complete auto-pilot…
Does it really work? Sadly the answer to that is NO. I’ve actually seen several other so-called automated binary options systems prior to this one such as the Online Profit Generator system for example which I most recently reviewed & they have ALL turned out to be nothing but flat-out scams. The Bitcoin Profit system is no different.
I do appreciate though that even though it is a scam, you might not just be willing to take my word for it as you might have been really hoping that the system was going to work for you & generate you lot’s of money… So instead, let me show you how it really works in order for you to see what yourself why it WON’T work as promised…
How The Bitcoin Profit System Really Works…
At a glance the whole thing seems ideal, and it would easy to get sucked in by all of the hype found on the website of the Bitcoin Profit system… But that’s exactly the creator’s intentions. Everything you’re told on the website is fake & they’re merely trying to lure you in so that they can earn some money at your expense.
You see the creators of the Bitcoin Profit system have actually affiliated themselves with a binary options broker, and this means that if they get anybody to sign up & deposit via that broker then they earn themselves a commission… A pretty huge commission too.
So they’ve came up with the genius plan of inventing this fake “foolproof” system that supposedly enables anybody to profit… And surprise surprise all you have to do to get access to it is sign up & make a deposit via their “recommended” broker…
But this is where the problem arises, because the broker they recommend to you is actually just a scam binary options broker – meaning if you deposit with them, you’ll lose any & all of the money you deposit.
Then, after depositing (which I totally don’t recommend doing) you’ll merely be left to find out the hard way that the Bitcoin Profit system doesn’t actually work anywhere near as promised… In fact instead of making consistent winning trades like it claims it will in reality it will make nothing but losses.
After all, why would a binary options broker – a broker that only makes money when others LOSE money – partner themselves with a system that will supposedly enable everybody to profit? It just wouldn’t make sense, and if it were true such a system would put the brokers straight out of business…
And that just proves that the whole thing is a big fat scam. In fact some of these fake automated trading systems, like the Bitcoin Aussie system (which was first released as The Brit Method) have actually been put together by the brokers themselves just to trick people into signing up!
Which brings me onto…
My Verdict – Is The Bitcoin Profit System a Scam?
I can confidently say that the Bitcoin Profit system is indeed 100% a scam & it should definitely be avoided. The whole thing is built upon deceit & lies & it’s only intention is to part you with your hard earned cash so that the creators behind it can earn themselves some money at your expense.
After signing up to the system & depositing via the broker (which I totally don’t recommend) you’ll just be left to find out the hard way that it doesn’t work as promised & then you’ll also discover that the broker will do everything they can to prevent you from withdrawing your money back out. Essentially it’s just a hyped-up cash trap.
Now whilst there are no real ways to make lots of money online without actually doing anything (like the Bitcoin Profit system claims) the good news is that if you are prepared to put in some work you can actually make good money online – and I myself am living proof of that.
There are plenty of legitimate programs out there like Wealthy Affiliate for example through which you can learn how to get started properly online & if you really do put in some effort then you can certainly find good success. In fact hundreds of new people are seeing success every single day at WA & if you’re interested you can read about how it all works by clicking here.
But I just hope that my review here has helped you from handing your hard earned cash over to the crooks behind the Bitcoin Profit system & I hope that it’s given you a better idea as to how these types of binary options scams actually work. If you do still happen to have any further questions about it though that you feel I didn’t cover then don’t hesitate to leave a comment below & as always I’ll get back to you as quickly as I can.
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