Profit Trade

Introduction to Profit Trade

Profit Trade is a Forex and CFD broker, offering a variety of trading instruments ranging from currency pairs, commodities, indices, stocks, and cryptocurrencies. Established in 2017, Profit Trade is owned by GPS Marketing Ltd, a company based in the Dominica Republic. The broker claims to provide a user-friendly trading platform, educational resources, and dedicated customer support. However, the credibility and reliability of Profit Trade have been questioned by many traders and industry watchdogs, leading to mixed reviews about its services.

Trading Platforms

MetaTrader 4

Profit Trade offers the popular MetaTrader 4 (MT4) trading platform, known for its advanced charting tools, automated trading capabilities, and customizable interface. MT4 is widely accepted in the trading community and is a positive aspect of Profit Trade’s services.

Web Trader

In addition to MT4, Profit Trade also provides a Web Trader platform. This platform requires no download and can be accessed directly from a web browser. It offers basic trading features and is suitable for beginner traders.

Account Types

Profit Trade offers a range of account types, including Basic, Bronze, Silver, Gold, Platinum, and Black. Each account type comes with different features and benefits. The minimum deposit for the Basic account is $250, which is relatively high compared to other brokers. The Black account, which is the highest level, requires a minimum deposit of $100,000.

Regulation and Safety of Funds

One of the significant concerns about Profit Trade is its lack of regulation. The company is registered in the Dominica Republic, a country known for its lax regulatory environment. This raises questions about the safety of traders’ funds and the integrity of the broker. It is always advisable to trade with a broker regulated by reputable financial authorities to ensure the safety of your investment.

Customer Support

Profit Trade claims to offer 24/5 customer support via live chat, email, and phone. However, there have been numerous complaints about the quality and responsiveness of their customer service. Some users have reported difficulties in reaching the support team and getting timely assistance.

Withdrawal and Deposit

Profit Trade offers various deposit and withdrawal methods, including credit/debit cards, wire transfer, and some e-wallets. However, the broker has been reported to charge hefty withdrawal fees, which is a significant drawback for traders. There have also been complaints of delays in withdrawal processing times.

Conclusion

While Profit Trade offers a range of trading instruments and the popular MT4 platform, the broker’s lack of regulation, high withdrawal fees, and reported customer service issues are significant concerns. It is crucial for traders to thoroughly research and consider these factors before choosing to trade with Profit Trade. Trading with a regulated broker that offers transparent pricing, reliable customer service, and secure fund protection should always be a priority for traders.