Profiton Review – What Initiated The BaFin Investigation

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Ensuring the safety of your funds while trading should be every retail trader’s primary concern. That is certainly not achievable if you choose to rely on a Forex dealer described in this Profiton review. 

Although their site will invite you to unleash your trading potential with their intuitive tools, nothing they offer can essentially help you with that. Keep reading to find out what a leading German regulatory body had to say about this scheme.

If you expect this company to be completely transparent with you and share their legal information, as well as contact info and trading conditions, you’re in for an unpleasant surprise. This conduct is completely anonymous and doesn’t even reveal the jurisdiction they operate from. 

The public document says that this business operates without the required license and authorization. Since they’re offering their services to German traders, the state regulator had to warn the citizens not to accept any deals from this firm. 

Social networks are overflowing with false profiles that operate with a single goal of finding victims and obtaining their contact information. This helps boiler room agents establish connections with potential targets and start calling them relentlessly. If it’s not persistent calling then it’s email spamming and unwanted messages in your inbox. 

Kind, friendly and sweet talking, these people often impersonate Forex experts, models, influencers and other individuals. That facilitates financial and emotional manipulation of unsuspecting marks. Once they hype up the investors, the money extortion can begin.

If you find yourself struggling with withdrawals, please don’t hesitate to seek our help. We’re available at any moment, so reach out through our online chat.

While advertised as intuitive, comprehensive and user-friendly, the actual disadvantages are neglected. Such a simplistic software solution creates an impression of trading being easy and undemanding. That is the effect the cons are going for, so beware of such traps and never settle for anything less than MT4, MT5 or cTrader.

The website itself doesn’t make a disclosure of all of the instrument classes available. You’ll just see useless blocks of text describing what CFDs, Crypto and Forex trading is at best. There’s no comprehensive asset lists or at least examples with the exact pricing or commission per turn. The preview of the platform reveals this single class:

Without even getting a chance to test the trading environment and software in a form of Demo, you have to believe a blacklisted broker’s words about their magnificent packages. 

Some of the most advertised features these accounts include are personal manager, free trading signals, robot traders, and other unrealistic options. Purpose of this false marketing is attracting attention and justifying the ridiculous costs:

Yet another proof that this trading portal could never be a licensed EEA brand is the fact that they offer some banned trading conditions. By that we mean the leverage ratio that climbs up to 1:500. For reference, the EEA limitation is strictly kept to 1:30 for the sake of protecting the traders by controlling the risk. 

Otherwise, no other costs are revealed. With this kind of firm you can always expect sudden fees thrown at you without previous warning. All of the feature bundles claim not to feature trading commission, but that is also a dubious statement.

Bonus cash comes with the first deposit that is high enough to afford some of the lucidly expensive packages. The more cash you’re willing to throw in, the higher the reward. However, take into consideration the fact that EEA regulators have banned this feature too. That’s because unlawful trading domains often take advantage of these options to prevent withdrawals!

The payout terms on this shady platform aren’t revealed in any way, since legal documents don’t exist. What makes us even more concerned about cashing in profits is the fact that no realistic trading happens at all. That’s why you should at least try to pull out your deposited cash in time. 

The payouts allegedly allow credit cards to be used, which is suspicious as deposits only support crypto channels. This is, of course, against all AML precautions taken by regulated brokers!

If you’ve been defrauded yet do not know how to attempt and recover your funds, we’re at your service. The point with succeeding in getting your investment back is relying on an expert. Our chargeback professionals can help you with useful advice and legal support for the sake of quick and seamless fund recovery. 

For more information and to book your free first consultation, feel free to contact us via the live chat. Our agents will help you find out more and reserve your interview. 

This is proven to be a fraudulent trading scheme, blacklisted by the leading German regulator – BaFin.

You first have to send a payout request and enter your credit card info, which we do not recommend you to do.

Yes, and it might be a lot easier than you think. Call us for more details on how exactly the process goes.

The post Profiton Review – What Initiated The BaFin Investigation appeared first on Global Fraud Protection.

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