ProfiForex broker review: user feedback
About ProfiForex Company
ProfiForex — a company specializing in providing internet trading services in the Forex and CFD markets. The broker was established in 2010, and its official website is registered under the domain profiforex.org. Currently, the company operates successfully in the global market and offers its services in four languages: Chinese, Russian, English, and Turkish. Let’s analyze the activities of ProfiForex company and study the reviews of its clients.
Information about ProfiForex
According to traders and investors, one of the key factors of trust in the company is the regulation of all financial operations on the platform. Unfortunately, the website profiforex.org is not regulated by external authorities. Although the official resource claims that the company adheres to strict industry standards, there is no confirmation of this.
The main office of the company is located in an offshore zone on the Seychelles Islands at the address: 103 Sham Peng Tong Plaza, Victoria, Mahe, Seychelles. No additional offices were found. The profiforex.org website states that the platform was developed by professional traders. The company’s goal is to help other traders achieve success. However, the lack of external supervision in the offshore zone raises concerns among traders. In case of losses of user funds due to ProfiForex disregarding technical support, the client will be left unprotected.
Registration Process on profiforex.org
Before gaining access to all the features of profiforex.org, registration is required. On the main page of the website, click on the “Open an Account” button. Then, fill out the form with your details, such as name, surname, and email. After that, create and enter a password, select your country of residence from the list, and agree to the broker’s terms. Upon completing these steps, the user will receive an email to the specified email address.
After registration, verification is required. To do this, you need to provide a copy of an identity document and confirm your residential address. Verification usually takes a few hours, according to user reviews.
Company Offers
ProfiForex offers advantageous conditions for successful trading. The minimum deposit is 1 US dollar, and there is no maximum limit. The minimum lot size is 0.01, and the maximum is 10,000 units. Spreads on financial assets are fixed at 0.1 points. The maximum leverage is 1:500.
Clients have access to trading in Forex, as well as in stocks, commodities, and indices through CFDs. The opportunity to purchase precious metals and cryptocurrencies is also available. Independent trading on profiforex.org is not provided.
Trading Platforms on profiforex.org
The broker offers its clients the popular MetaTrader 4 trading terminal, which supports the use of a variety of indicators for technical analysis. The platform also provides a flexible trading system, advisors, advanced charts, and extensive backtesting. The terminal is available for download on PC and mobile devices.
Deposits and Withdrawals on profiforex.org
The company offers various deposit and withdrawal methods:
- credit and debit cards (VISA, MasterCard),
- bank transfer,
- electronic payment systems (Skrill, WebMoney, PerfectMoney, etc.),
- cryptocurrency (Bitcoin).
The minimum amount for deposit and withdrawal is 1 US dollar. Deposits are instant, while withdrawals take up to 1 business day. Operational currencies: US dollars, British pounds, and euros.
Recommended to read:
- Overview of the broker UXool.com and client reviews
- Reviews on collaboration with JFD Brokers
Customer Support on profiforex.org
To contact customer support, you can call +2486470181, use the feedback form on the website, or utilize the live chat option. You can also send an email to support@profiforex.com.
User Reviews about the Company
There are numerous reviews about the company online, and most of them are negative. Traders accuse ProfiForex of fraud, pointing to price manipulations and issues with fund withdrawals. The positive reviews are likely not objective.
Fraud Scheme
Many users describe a fraud scheme involving attractive bonuses and subsequent account blocking when attempting to withdraw funds. Some claim that the company manipulates charts.
Conclusion
ProfiForex has been actively operating for over 10 years, but according to reviews, it engages in fraudulent activities. The company offers good trading conditions, but its financial activities are not regulated. It is recommended to avoid cooperating with this company.
Author: Pavel Nekhoroshkov