ProfitsTrade (https://ProfitsTrade.com) is an unlicensed offshore CFD Broker reported by as customers as SCAM Broker that opened in Spring 2020.
Warning! This Broker is NOT Licensed…
Only invest with a legal broker, look here
Our review of the broker called finds, that they are offering a very basic Forex / Crypto CFD trading platform, with Trading View charts. This trading apps offers a variety of underlying assets to trade in the categories of: Forex, Crypto, Indices, Stocks and Commodities.
Day traders will not find neither a mobile app on Google Play / Itunes, nor will they see the popular trading platforms from MT5 or MT4. The brokers website is available in the English, German, Russian and Arabic languages.
The minimum deposit for a new trading account is officially $250, but when we attempted to deposit $250, it said the minimum is $500.
Taking a look at the Account Types page, we see that ProfitsTrade offers clients bonus money. Bonus money is a the reason that many newbie traders have problems with their broker. It is important to know, that in order to withdraw your money after receiving a bonus, you will need to have trading volume of 100 times your deposit + bonus amount.
You can find popular Crypto and Forex trading apps, listed here.
Is ProfitsTrade a Legit Broker?
No, ProfitsTrade does not have any license, which means they are not regulated!
If you read their terms and conditions page, you will notice some amateur mistakes, which tells you what kind of broker your are dealing with.
Officially this broker is owned by: ProfitsTrade Ltd, located at: 7 Old Street, Roseau, Dominica. Contact phone number in the United Kingdom: +442039667248. Email address is: [email protected], and the official website is at: https://ProfitsTrade.com.
Scam Broker Investigator has reviewed hundreds of brokers, to see if they are scams or legitimate brokers. The way to properly research your broker, is by checking to see if they are licensed by the FCA in the United Kingdom or by ASIC Australia.
You should read reviews of the most popular licensed Crypto and Forex brokers listed here.