Score
Profit FX
India|5-10 years| http://www.profitfxmarkets.com
Website
Rating Index
Contact
Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
Contact number
+44 7949 540697
Other ways of contact
Broker Information
More
Profit FX Markets Ltd
Profit FX
India
Pyramid scheme complaint
Expose
Check whenever you want
Download App for complete information
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
WikiFX Verification
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:200 |
| Minimum Deposit | $ 5,000 |
| Minimum Spread | from 1 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | (5+) Bank transfer MASTER Skrill VISA |
| Withdrawal Method | (5+) Neteller VISA MASTER Bank transfer |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:200 |
| Minimum Deposit | $ 100 |
| Minimum Spread | from 2.5 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | (5+) Neteller Bank transfer MASTER Skrill |
| Withdrawal Method | (5+) VISA MASTER Bank transfer Skrill |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:200 |
| Minimum Deposit | $ 1000 |
| Minimum Spread | from 1.5 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | (5+) Skrill VISA Neteller Bank transfer |
| Withdrawal Method | (5+) VISA MASTER Bank transfer Skrill |
| Commission | -- |
MASTER
| Minimum Deposit | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| $100 | 6% | -- | INSTANT | USD |
VISA
| Minimum Deposit | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| $100 | 6% | -- | INSTANT | USD |
Bank transfer
| Minimum Deposit | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| $100 | No Fees | -- | Funds sent by wire transfer usually take between 3-5 working days to be credited to your account. | USD |
Neteller
| Minimum Deposit | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| $100 | No Fees | -- | INSTANT | USD |
Skrill
| Minimum Deposit | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| $100 | No Fees | -- | INSTANT | USD |
Skrill
| Minimum withdrawal | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| $100 | No Fees | -- | 1-2 Business Days | USD |
VISA
| Minimum withdrawal | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| $100 | No Fees | -- | 1-2 Business Days | USD |
MASTER
| Minimum withdrawal | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| $100 | 6% | -- | 1-2 Business Days | USD |
Bank transfer
| Minimum withdrawal | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| $100 | Only Bank Fees | -- | 3-5 business days, depending on your corresponding bank. | USD |
Neteller
| Minimum withdrawal | Commission | Exchange rate | Processing time | Currency unit |
|---|---|---|---|---|
| $100 | No Fees | -- | 1-2 Business Days | USD |
- Fundamental Item(A)
- Total Supplementary Items(B)
- Debt Amount(C)
- Non-Fixed Capital(A)+(B)-(C)=(D)
- Relative amount of risk(E)
- Market Risk
- Transaction Risk
- Underlying Risk
Capital
$(USD)
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Profit FX · Company Summary
Risk Warning
Online trading is dangerous, and you could potentially lose all of your investment funds. Not all investors and traders are suitable for it. Please understand that the information on this website is designed to serve as general guidance, and that you should be aware of the risks.
General Information
| Profit FX Review Summary | |
| Founded | 2-5 Years |
| Registered Country/Region | Unit Kingdom |
| Regulation | Unregulated |
| Market Instruments | Forex, Metals, and CFDs |
| Demo Account | Available |
| Leverage | 1:200 |
| EUR/USD Spread | from 2.5 pips (Starter account) |
| Trading Platforms | MT5 |
| Minimum Deposit | $100 |
| Customer Support | 24/7 Live Chat, Email: support@profitfxmarkets.com, Phone: +44 7949 540697 |
What is Profit FX？
Profit FX is a brokerage firm is registered in United Kingdom. The company offers a range of trading instruments across various asset classes, including Forex, Metals, and CFDs through the MetaTrader5 trading platform. However, it currently has no valid regulations.
We will examine this broker's attributes from a variety of angles in the following post, giving you clear and organized information. Please continue reading if you're curious. To help you quickly comprehend the broker's qualities, we will also provide a concise conclusion at the end of the piece.
Pros & Cons
| Pros | Cons |
| • Diverse trading instruments | • No regulation |
| • MT5 trading platform | • Wide spreads |
| • Demo account available | |
| • 24/7 live chat support | |
| • Low minimum deposit |
Profit FX Alternative Brokers
There are many alternative brokers to Profit FX depending on the specific needs and preferences of the trader. Some popular options include:
• IC Markets - A broker that was founded in 2007 in Sydney, Australia. The company's mission is to create the best trading experience for retail and institutional clients alike, allowing traders to focus more on their trading. IC Markets is dedicated to offering superior spreads, execution, and service. IC Markets offers a wide range of trading products, including forex, CFDs on stocks, indices, commodities, and cryptocurrencies.
• IG - The company was founded in 1974 in London, U.K. is the world's first broker to built the concept of financial spread betting that introduced online dealing as early as 1998. IG claims that it offers a wide range of tradable financial instruments for global investors, over 18,000 instruments, including Forex, indices, CFDs on stocks, digital cryptocurrencies, and options trading for investors to choose from.
• Admiral Markets - The company is a global online trading provider offering trading services in various financial instruments, including forex, stocks, commodities, and indices. The company offers a range of trading platforms, account types, and educational resources to its clients.
Is Profit FX Safe or Scam？
Profit FX is a broker that is not regulated by any major financial regulator. This means that there is no governing body that oversees its activities or protects its customers. As a result, there is a high risk that Profit FX could be a scam.
If you are considering doing business with Profit FX, I would strongly advise against it. Many other regulated brokers offer a safe and secure trading environment.
Market Instruments
Profit FX offers a wide range of market instruments, including Forex, Metals, and CFDs.
• Forex (foreign exchange) is the market for exchanging one currency for another.
• CFDs, or contracts for difference, are a type of derivative that allows traders to speculate on the future price movements of an underlying asset without actually owning the asset. CFDs are traded on a margin, which means that traders only need to deposit a small amount of capital to control a large position. This can make CFDs a very attractive product for traders with limited capital.
• Metals are elements that are solid at room temperature and have a high melting point. They are spot or futures trading.
Accounts
There are three trading accounts offered by Profit FX, namely STARTER, PRO, and PRIME. The minimum initial deposit requirement is said to be $100 of STARTER account, $1000 of PRO account, and $5000 of PRIME account.
The best trading account for you will depend on your individual needs and preferences. If you are a beginner, then the STARTER Account may be a good option. If you are experienced and want to have more flexibility, then the STARTER or the PRIME Account may be a better choice.
Leverage
Profit FX offers maximum leverage of up to 1:200, which means that you can control a position worth 200 times your initial deposit. For example, if you deposit $100, you could control a position worth $20,000.
Leverage can magnify your profits, but it can also magnify your losses. If the market moves against you, you could lose more money than you deposited.
Spreads & Commissions
Spreads are affected by what type of accounts you are holding. The minimum spread in the STARTER account is floating from 2.5 pips. The PRO account offers spreads floating from 1.5 pips. The PRIME account offers spreads floating start from 1.0 pips. The commissions on all account types is free.
Below is a comparison table about spreads and commissions charged by different brokers:
| Broker | EUR/USD Spread (pips) | Commissions (per lot) |
| Profit FX | 2.5 (Starter) | No commissions |
| IC Markets | From 1.0 (Std) | No commissions (Std) |
| IG | 0.6 | N/A |
| Admiral Markets | From 0.6 | No commissions |
Trading Platform
Profit FX offers MT5 Trading Platform for its clients.
The MetaTrader 5 (MT5) platform is the most popular trading platform in the world. They are used by millions of traders to trade a wide range of financial instruments.
Some of the features of MT5 include:
• Technical analysis tools: MT5 offers a wide range of technical analysis tools, such as charts, indicators, and oscillators. These tools can help traders to identify trends and patterns in the market, and to make informed trading decisions.
• Automated trading: MT5 supports automated trading, which allows traders to create and run trading strategies without having to be present at the computer. This can be a valuable tool for traders who want to trade on a regular basis, but who don't have the time to monitor the market all day long.
• Multi-asset trading: MT5 allows traders to trade a wide range of assets, including forex, stocks, indices, and commodities. This can give traders more opportunities to find profitable trades.
See the trading platform comparison table below:
| Broker | Trading Platforms |
| Profit FX | MT5 |
| IC Markets | MT4/5, Web trader |
| IG | MT4, IG Proprietary |
| Admiral Markets | MT4/5, Web trader |
Trading Tools
Profit FX offers a variety of trading tools to help traders make informed decisions and trade effectively. These tools include:
• Economy Calendar: This tool provides traders with information about upcoming economic events, such as interest rate decisions and GDP releases. This information can be used to help traders make informed trading decisions, as economic events can have a significant impact on the forex market.
• PIP Calculator: This tool allows traders to calculate the pip value of a currency pair. A pip is the smallest unit of price change in a currency pair, and it is important for traders to understand the pip value of a pair in order to calculate their potential profits or losses.
• Margin Calculator: This tool allows traders to calculate the margin required to open a trade. Margin is the amount of money that is required to be deposited in a trader's account in order to open a trade. The margin requirement varies depending on the size of the trade and the leverage that is being used.
Deposits & Withdrawals
On Profit FX official website, the broker seems to accept numerous means of deposit and withdrawal choices, consisting of Paypal, MasterCard, and Skrill.
Profit FX minimum deposit vs other brokers
| Profit FX | Most other | |
| Minimum Deposit | $100 | $100 |
However, the broker doesn't reveal detailed info on deposit/withdrawal fees and processing time.
Customer Service
Profit FX offers a comprehensive customer support service, including email, and phone. Traders can also access a customized VIP customer service program, which includes dedicated account managers and priority support.
Customers can get in touch with their customer service line using the information provided below:
24/7 customer support via Email
Live Chat
Email: support@profitfxmarkets.com
Social media: Facebook, Instagram, Twitter, Telegram, LinkedIn, and YouTube
Phone: +44 7949 540697
Registered Address: 71-75 Shelton Street Covent Garden, London,WC2H 9JQ, United Kingdom
Education
Profit FX offers a demo account that allows traders to practice trading without risking any real money. This is a great way to learn how to trade and to test out different trading strategies before you start trading with real money. Profit FX publishes a number of articles on its website that cover a variety of forex-related topics. These articles are a great way to stay up-to-date on the latest market news and to learn about different trading concepts.
Conclusion
In conclusion, Profit FX is a brokerage firm that provides access to a wide range of trading instruments and offers MT5 platform to cater to different trading preferences. However, the company currently has no valid regulations. There have been NO reports of exposure section, but it isnt mean safe for trader. Traders should exercise caution and conduct thorough research when considering Profit FX or any other brokerage firm, taking into account factors such as reputation, client feedback, and regulatory compliance. Making an informed decision requires a comprehensive evaluation of all relevant factors beyond the information provided here.
Frequently Asked Questions (FAQs)
| Q1: | What types of trading instruments are available at Profit FX？ |
| A1: | Profit FX offers a variety of trading instruments, including Forex, Metals, and CFDs. |
| Q2: | Is Profit FX a regulated brokerage firm？ |
| A2: | No regulation. |
| Q3: | What trading platforms does Profit FX provide？ |
| A3: | Profit FX offers MT5. |
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