Profit Trade is an unlicensed Crypto Currency Forex broker, which opened in April 2018.
For withdrawal problem and complaints, read this.
Profit Trade Reviews
Profit Trade gives their clients and investors a web based trading platform made by TraderSoft. Their software has CFD’s, Crypto Currencies, and Simplified Forex trading, available on hundreds of underlying assets in the markets of Forex, Stocks, Commodities and Market Indices.
MT4 trading platform is also available for download. We didn’t not find any mobile trading apps at this broker.
As with many CFD brokers, the difference between them, is the amount of margin / leverage offered on the underlying assets. CFD trading on Bitcoin is available for example; at a 100:1 margin rate, with a very wide spread of $65, with Bitcoin trading at $8,600.
The minimum deposit for their educational trading account type is $250. Depositing is available either by Credit Card, or Bitcoin.
Most investors start with a Free Demo Account, see here.
Does Profit Trade Have a License?
No, Profit-Trade is not a regulated broker.
The way that the Scam Broker Investigator reviews a new CFD broker, to know if they are legit is by checking for a license. All brokers must be licensed and regulated by a government authority in your country. For example; ASIC Australia, FCA United Kingdom or BaFin Germany.
ProfitTrade is actually owned by: Global Top Marketing LTD, and located at: Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, MH96960 Marshall Islands. Their phone number from the United Kingdom is: +442036959749. Customer support email address is: compliance@Profit-Trade.com, and the official website is: https://Profit-Trade.com.
Also mentioned on their website is that they are owned by: GPS Marketing Ltd., 28 Dzavaharlal Neru Street, Sofia, Bulgaria. But this is probably just their payment processor.
ProfitTrade is NOT Licensed by FSCA or ASIC
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What was your trading experience with Profit Trade like? Please leave your review in the comments below.