Profiforex broker is another offshore entity presenting itself as the saint of the forex world. Yet, with registration in Belize, something like that is less likely possible.
Some offshore forex trading companies might appear legit. But if they don’t back it up with trusted regulations, nothing is worth it. To see if that’s the case with this one, read our unbiased Profiforex review.
The company Profiforex is owned by TIM GROUP INC from Belize. With this in mind, we are expecting at least an FSC license. Yet, the search for brand name or registered name didn’t bring any results.
Since the company is transparent about many important stuff, we were hoping that they have Tier 1 licenses, such as FCA, BaFin, ASIC or CFTC. However, the results were the same and that is quite disappointing. From now on, you can’t trust anything that the Profiforex scam broker says. Simply because they are not obliged to comply with anything.
Traders are primarily complaining about withdrawal problems, which is expected with unregulated brokers. But let us hear about your experience in the comment section below. Also, you can contact our chargeback team directly and get advice about the next step.
Practically, Profiforex broker is eager to provide you with everything that you need. Trusted software, transparent conditions and even social trading features. Yet, all that is irrelevant if they don’t give you your profits.
In general, offshore scam brokers are just manipulating their traders. But once those traders request their profits out, the problems start. In such cases, we strongly recommend you talk to professionals. Even better, with our team you can get the first consultation for free.
Analysis shows that this broker is present worldwide. But also in countries where strict regulation is required. Nevertheless, the most targeted countries are:
If you were one of those as well, reach out for refund assistance.
As we can see, the company offers Mobius Trader and MetaTrader 4. While MT4 is highly trusted and secure software, Mobius Trader is completely the opposite.
Actually, this software was created by another offshore company, which doesn’t bring any comfort and reliability into the calculation.
According to the company’s presentation, there are 5 instrument classes available. But before investing in any of those, we suggest you read this Profiforex review until the end. Anyway, their options are:
Practically, the company has only one live account type. The Profiforex minimum deposit requirement is as low as a couple of cents. But don’t let that fool you because it might be the way just to get you onboard.
One of the key warning signs is the leverage of 1:500. Extremely dangerous without negative balance protection, but even with it.
On the positive side, the company advertises competitive spreads. But if you will get those on live account, remains a question. Other fees and commissions are not revealed, except for swap rates of 0.017%.
Another problem with this broker is their 500% bonus. By accepting the bonus, leverage goes up to 1:3000. Thus, there is a catch. You need always to have Stop Out margin at 10% to avoid canceling all bonuses. But with shady software, they can manipulate that and put pressure on traders to deposit more money.
Profiforex withdrawals are quite suspicious. Primarily, the company claims they don’t charge any fees. Also, they claim to have bonus funds available for withdrawal.
Practically, telling you they are giving you free money. Yet, without a transparent withdrawal policy and regulations, everything is questionable.
In the first place, to report the issue to local regulators. In the end, if you have proof they can issue a warning. However, everyone is looking for ways to get their money back.
Depending on the funding method you can apply for a chargeback or use alternative refund paths. Such as CipherTrace software for crypto transfers. Either way, our refund team can guide you through the procedure step-by-step. Get in touch now and book your consultation.
Is Profiforex Legit?
No. The company is operating without regulations and a transparent withdrawal policy. After all, they are offshore broker with minimum funds protection features.
What Is Minimum Deposit with Profiforex.com?
The minimum deposit with Profiforex is quite low and starts already at $1.
How much is Profiforex’s withdrawal fee?
According to the company, they don’t charge fees. Thus, without regulations, they can also lie. But if you experience any withdrawal irregularity contact our refund specialists immediately.
How To Contact Profiforex?
The company only offers live chat and e-mail contact options. Not something that a trusted and reliable broker would offer.
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No. The company is operating without regulations and a transparent withdrawal policy. After all, they are offshore broker with minimum funds protection features.
The minimum deposit with Profiforex is quite low and starts already at $1.
According to the company, they don’t charge fees. Thus, without regulations, they can also lie. But if you experience any withdrawal irregularity contact our refund specialists immediately.
The company only offers live chat and e-mail contact options. Not something that a trusted and reliable broker would offer.
The post Profiforex Review – All Facts That This Broker Is Falsely Presenting appeared first on Global Fraud Protection.
