ProfitiX (Profitix.com) is a Crypto Currency and Forex scam broker to hit the lucrative trading world. PROFITIX is purporting to be the ultimate gateway to trading success. According to their homepage, this broker claims to offer unmatched speed and faster trade execution. Promise that anyone who signs up with this broker will have access to over 10,000 trading assets is a lie. Read this full detailed and honest ProfitiX review.
What this broker has done is to create a compelling website that newbies can easily fall for. Looking at their website, this broker has posted images of a car dashboard, charts, and coins. This broker is simply looking to lure investors into signing up with their platform by using moving images. Offering currencies, indices, stocks, digital coins, we advise users to stay away from this broker. Read this entire review to find out the tricks used by ProfitiX.
Claims and promises are what make newbies blindly sign up with this lame broker. What this broker claims is simply fictional as this review will clearly show. Fact still remains that whoever signs up with this broker will end up losing their entire funds. Comments have been flying all over the web regarding how users have been conned by ProfitiX. Make sure you get to learn all their dirty tricks before you make a decision to sign up with them.
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According to the disclaimer at the footer of the homepage, this platform is owned by ProfitiX LTD. Disclaimer goes ahead and says that this broker has been registered in St. Vincent and the Grenadines. By their own admission, this broker plainly puts it out there that they are offshore brokers. Offshore brokers are notoriously known for flaunting set regulatory rules and standards. Make sure to stay away from any broker, who is based offshore, they are not to be trusted.
Another scary factor that we uncovered in regards to ownership is the level of anonymity. Who is the CEO or CFO of this company? Why have they failed to issue the real names of people running this brokerage firm? It’s this level of anonymity that makes us doubt the intention of this broker. Anyone who signs up with an anonymous broker will soon face money problems. Comments from the web can easily validate how this broker is scamming from investors.
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Notice that the disclaimer at the footer of the homepage does not show any licensing details? It means that we are dealing with a rogue broker who is unauthorized to conduct Forex transactions. Stay clear from brokers who have no authorization credentials as this will put you in jeopardy. What this means is that ProfitiX is a broker that has no licensing or registration credentials. There’s no regulatory body that has come forward to side with this broker.
If indeed this broker has been registered, where are their registration details? A real broker will post their credentials and documents for everyone to see. This proves that the broker has been registered and makes it easy for investors to verify with financial institutions. Plus, posting registration certificates helps prove transparency with the broker. Ensure you always sign up with brokers who have the right documents in order to guarantee a safe trading experience.
From what we gather, this broker is using MT5 trading platform. In order to test how well their MT5 trading platform works, we decided to download it. And this is where we faced the biggest hurdle with this platform. Download did not complete and stalled at 30%. This is bad news for any trader who uses this platform. What this means is that investors are using an unstable platform. Let’s explain how an unstable platform can ruin your trading experience.
An unstable platform will leave traders vulnerable to cyber-attacks from hackers. Hackers will easily take advantage of this unsecured platform to harvest personal data. In most cases, these hackers use unstable platforms to steal credit card information. With your credit card details, these brokers will purchase goods and services online using these credit card details. Next time users check their balance, there’s nothing to read. And that’s how hackers take your money.
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ProfitiX is offering users five different trading accounts to choose from. These accounts include Mini, Advanced, Executive, prime, and VIP. Required minimum trading deposit to start using this platform is $250, $25,000, $50,000, and $100,000. It’s not clear how much VIP account users are require to deposit in order to start trading. Leverage in all these accounts seems to be the same, 1:400. There’s something fishy when it comes to these accounts.
What we noticed odd with this broker is the fact that there’s no clear advantages. Why would a trader deposit $50,000 and get the same advantages as a trader who deposits $250? It’s clear that these fraudsters did not think it through in regards to trading accounts. Only rogue brokers can come up with insane depository requirements with similar advantages. Make sure to stay clear from this broker and start making money with real Forex products.
There’s no way that funds are secure with an offshore broker who is not licensed. This broker clearly violates every rule set by the industry’s financial bodies. Have you noticed that this broker fails to mention their depository bank partner? Where do they bank money deposited by users? That’s not all, did you know that investors maybe depositing money straight to the owner’s personal bank account? Stay away from this broker due to safety concerns.
When it comes to the claim that accounts are segregated, this is another lame excuse. It’s clear that this broker does not segregate accounts. In case of bankruptcy or insolvency, this broker will lose funds all at once. And this is why we are against signing up with a broker who does not follow set rules. Investors should not expect any compensation from this broker. ProfitiX does not participate in a compensatory scheme.
When it comes to depositing money with this broker, we have noticed that ProfitiX is pooling funds in one account. Depository channels available with this broker include Visa, MasterCard, Discover, and JCB. Depositing is fast and easy and takes less than five minutes for the process to complete. This is not a valid reason for anyone to sign up with this broker. After depositing funds, that’s when the cracks start to appear.
Withdrawing funds with this broker is probably the biggest hurdle users will face. These brokers will not allow investors to make withdrawals. This is what most users are facing once they deposit money and decide to make withdrawals. This is a scammer’s move that ensures that they steal your money. It seems that this broker is about to close shop and will do anything to stay with investors’ funds.
Evidence clearly shows that we are dealing with a broker who is shady in all aspects. From their level of anonymity to lack of registration credentials, ProfitiX is indeed a scam. Make sure you warn your friends and relatives from signing up with this broker. Mark all their emails as Spam and never click on any links sent by these scammers. Hackers are using these links to gain access to personal data on your PC.
It’s our belief that this broker should be exposed for the scam it is. Adding this broker to our scam blacklist hopefully will protect newbies from signing up. It’s also in our best interest if relevant authorities will look into this platform and shut them down. Stay away from a broker who flaunts all regulations and rules set by the industry.
Get Accountable and Approved Forex brokers who will guarantee your safety when trading. Sign up with Credible and Dependable Forex brokers at all times. This is the best way to make money with Reliable Forex brokers.
Finally, we wish you all the best in your Forex trading experience.
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