Sparkprofit.com offers a trading simulator and claims to pay weekly returns of up to $100 provided the winner has reached a certain threshold of points. These points are then cashed out through their affiliate broker in form of TIQL dollars. The trading simulator is basically an app which claims to teach investors how to trade successfully in the financial markets. The app is available for PC and mobile device usage and can also be downloaded from the Google Playstore. The app is allegedly so intuitive and is equipped with the necessary features to help you correctly predict what the market will do next.
Spark Profit is operated by a UK registered corporation known as NOUS®, “Free The Markets”. Nous claims to be based at Aldwych House, 71-91 Aldwych, London WC2B 4HN and also owns an insurance website known as Meta Vault. The tagline for the website Nous is ”making markets globally accessible and locally affordable.” They also claim that Justin Short is the CEO & Founder of this company. However, it appears that Justin is a stock photo as we were able to trace the same face on several different other websites.
What is not convincing us about this website is that even though who.is data points out that the site was created in 2003, Alexa does not have any data from this site, which typically happens with new sites as opposed to sites that are even more than a decade old. So we don’t actually know when exactly the company was established.
Furthermore, Nous, the company that oversees the activities of Spark Profit is not regulated and yet they are clearly offering a financial investment product.
There are a lot of disparities in the marketing materials of this site. If you want to know more about trading with sparkprofit.com, you should probably read this review to find out because at some point, you will realize that there are many things to worry about when it comes to trading with them. But for the sake of saving time and going straight into real professional trading, we advice that investors should use these highly recommended trading products.
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Spark Profit claims on their website that they were founded with the aim to empower and provide a way to easily access the global financial markets. They claim that this is a unique business model but already we are suspicious about this business due to the fact that when traders request for a withdrawal, they are taken to a sister site called TIQL to cash out their profits. TIQL seems to operate like a binary options broker accepting a minimum deposit of $5 only. TIQL does not charge fees, commissions or spreads on trades. It appears that the only way this brokerage makes money is by letting you trade and fail. It is simply too good to be true to think that a broker can remain in business when they are neither charging fees, commissions nor spreads. Unless this broker is fishy and is up to no good, we don’t see how they can generate revenue for their company.
It also appears that TIQL is not licensed by any financial regulator to trade. If the mother company is based in the UK, it means that either the company itself or this broker should be licensed by the FCA. But since this license is not present, we can assume that this is not the safest trading platform that traders can get involved with. Having said this, we are also wondering how on earth $5 minimum deposit can take on up to 500 trades. This platform announces that for $5, traders can take 500 trades. This is not realistic at all. In as much as this is concerned, we think this is some kind of gambling which has been sugar coated with the word ”Trading.”
They claim that users should play with the trading simulator using virtual money and if they win at the end of the week, the platform will reward them with points that are equivalent to $100. The brokerage that is working in tandem with Spark Profit appear to be providing a safe avenue for laundering monies and somehow we also believe that there is no place on earth where money is being given for free.
If these people were truly rewarding traders with free money based on worthless points which cost them nothing to generate, we are sure that they would never place emphasis on more people to get recruited into the scheme.
It is also not clear why money has to be cashed out through the TIQL platform and not through Spark Profit itself. These are questions you should ask yourself because something definitely looks fishy.
In our opinion, Spark Profit tricks users through a trading simulator and once players have reached points that they are supposed to cash out, they will be introduced to the TIQL broker platform which is basically owned and operated by the same guys who own Spark Profit. They will either be encouraged to deposit more money or to convert the points to TIQL dollars so they can trade the points. In reality, these points are worthless.
The person pulling the strings behind the curtain is so successful because they manage to convince naive users that this platform connects their trades to the live market when that’s not the case. Ideally speaking, Spark Profit is just a market maker and the chart where users will be practicing trading is pulled directly from TIQL platform.
In the end, it is a total waste of your time and you could also lose money in the process because as you can see, this is a string of deception where one deception leads to another and so on.
Besides, you never know what you are downloading on your device could be a spyware. These guys are not regulated and we have no idea who they are. It’s risky. If you want to trade genuinely, we implore you to use approved trading products.
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