Something’s not right with this broker, don’t you agree? Key information in terms of trading is insufficient, possibly fake, on the website.
What about FutureProfit’s legal status, i.e. the broker’s regulation and trading license? Find out in the FutureProfit Review.
We’ll start off by saying that the FutureProfit regulation is fake. And we can support that argument with facts.
Namely, in the T&C section, we found the name FutureProfit Group, allegedly the entity behind this brokerage. There are several companies within this group, all fake.
For instance, the document states that FutureProfit EU Limited is regulated by the Central Bank of Ireland. However, upon checking the register of the Irish bank, we didn’t find a registered entity by the name of FutureProfit EU Limited.
FutureProfit also lied about having a legit office in London, UK. We checked the database of the UK’s Financial Conduct Authority (FCA) and didn’t find anything on FutureProfit. Hence, it’s safe to say that we’re dealing with an anonymous scam broker.
Instead of investing in this trading scam, please find a proper broker with a valid license, preferably issued by the FCA, ASIC, or any regulator operating under the jurisdiction of the European Securities and Markets Authority (ESMA).
FutureProfit is an anonymous scam broker without regulation. The bogus website offers a lackluster online trading platform with suspicious conditions. Future Profit has scammed traders from the UK, US, Italy, India, and Portugal.
We’ve debunked the lie behind the FutureProfit reputation. This cyber scammer is anonymous and doesn’t have a true physical address.
That’s a clear violation of the law. If you don’t find true information about the provider’s address or regulation, that’s bad news. Make sure that your broker has the permit necessary to operate in your country.
FutureProfit lied in order to infiltrate areas with heavy regulation. We managed to make a list of countries where this unscrupulous broker was active:
The FutureProfit trading scam has been active since May 2022. There haven’t been any official warnings issued against FutureProfit yet. Therefore, any useful info about this fraud would be great so we could forward it to the regulators.
There are many ways FutureProfit could’ve gotten to its victims. We’re thinking of Google ads, Facebook & Instagram posts, YouTube content, fake LinkedIn ads, etc. It could also have been online marketing campaigns.
Scammers like FutureProfit often call traders on the phone or keep sending persistent emails with fraudulent offers. WhatsApp isn’t safe territory either, it’s full of scammers.
Don’t even get us started on private Telegram chats. Believe it or not, scammers sometimes spend months on dating apps such as Tinder trying to “seduce” potential victims.
We were right about FutureProfit denying traders their profits. Namely, we found some complaints against the broker.
They charged me with so many fees when i wanted to withdraw it’s really unbelievable. I would not recommend to anyone!
Traders complained about outrageous fees that just kept piling up. Bear in mind that it’s illegal for brokers to demand you pay a fee before performing your withdrawal request.
We got to see the FutureProfit trading platform and weren’t impressed, to put it lightly. The shady broker offers a browser-based trading terminal. It can be accessed via phone as well.
This platform features some basic charts and graphs but nothing else, really. It may seem attractive to complete newbies but it’s not fit for real trading.
Unfortunately, FutureProfit does not support any legit third-party platform such as MT4, MT5, or cTrader.
According to FutureProfit’s website, Forex, CFDs and crypto coins are available for trading. However, the broker didn’t disclose which concrete trading instruments it offers.
On the trading platform, we see that the spread for the EUR/USD pair is 2 pips. That’s far too wide to be profitable.
It would imply that the cost of trading is 20 $ per lot, which is not in line with the industry’s standard. Legit brokers will allow you to trade with commissions below 10 $.
Here’s an overview of the FutureProfit trading accounts:
If FutureProfit were really an ESMA-regulated broker, it wouldn’t be allowed to offer bonuses. ESMA banned brokers from issuing bonuses to traders.
More evidence of fraud can be found in the leverage levels. Namely, FutureProfit offers leverage up to 1:300, which is illegal in regard to ESMA rules. The leverage cap in Europe is 1:30 for retail clients.
No. FutureProfit didn’t include a free demo account. That means you have to open one of the above-listed account types and risk losing a lot of money.
Scammers like FutureProfit entice traders to invest and then simply steal their deposits. That’s why they don’t want to waste time allowing traders to use a free demo account.
Negative balance protection is a neat feature. If the market starts moving against you really fast, your funds start to burn.
Just before you’re about to go below zero, negative balance protection kicks in and prevents it. ESMA requires all brokers to equip their clients with negative balance protection. We highly doubt that FutureProfit offers this.
On the financial swindler’s website, we found that FutureProfit accepts the following funding methods:
The minimum deposit is 250 $. FutureProfit charges an inactivity fee of 50 $ for every three months plus a 100 $ administration fee. Simply outrageous!
As for the FutureProfit withdrawal fees, they weren’t specified but do exist. So much for transparency.
To sum up, FutureProfit is a terrible scam broker without regulation. We have no doubt that the broker will violate the terms and conditions and deny you your withdrawals.
If you already traded with FutureProfits and are currently having withdrawal issues, please let us know. Global Fraud Protection can help you get your money back.
Our team of experts specializes in bank chargebacks and advanced crypto-tracing solutions such as CipherTrace.
If this broker steals your money, contact us for help. To book a free consultation, please use Online Chat, it’s the easiest and fastest way.
Absolutely not. FutureProfit is an unregulated scam broker. Please don’t invest money in this foul trading scam. If you already have, call us.
No. FutureProfit doesn’t offer a free demo account on its bogus website.
No. FutureProfit’s trading platform is web-based so it doesn’t need a mobile app.
No. FutureProfit offers only WebTrader, a lackluster online platform. It doesn’t have the tools necessary for proper trading.
Absolutely not. FutureProfit is an unregulated scam broker. Please don’t invest money in this foul trading scam. If you already have, call us.
No. FutureProfit doesn’t offer a free demo account on its bogus website.
No. FutureProfit’s trading platform is web-based so it doesn’t need a mobile app.
No. FutureProfit offers only WebTrader, a lackluster online platform. It doesn’t have the tools necessary for proper trading.
The post FutureProfit Review – Avoid Being Suckered By This Fraud Broker appeared first on Global Fraud Protection.
