Distinguishing Features of Scam Projects and Their Variability
Honest entrepreneurs rarely stick to one project because they are only interested in profit and easy money. To avoid negative reviews and regulators, scammers often change names and tactics. However, through careful analysis, similarities between different fraudulent platforms can be identified. Today we will examine one such scheme – Profit Secure Broker. In this review, we will reveal what this intermediary is hiding and how it is connected to other financial fraudsters.
Impression of the Profit Secure Broker Website
The Profit Secure Broker website creates a favorable impression: success statistics, company information, and contract details are presented. However, first impressions are often deceptive, and this case is no exception.
It is impossible to copy content from the site, making it difficult to verify its uniqueness. By the phone number, we found out that the Profit Secure Broker website is an exact copy of psbforex.org, which has already been blacklisted by Roskomnadzor and the Central Bank of Russia. Even the email address remained the same.
Additionally, in the list of available financial instruments, another old name can be found – Access Capital Markets Limited, which is also mentioned in the User Agreement. This company also has a poor reputation online and has received many negative reviews.
The claims of 20 years of experience at Profit Secure Broker and 9,000+ active trained traders are false. The profitsecurebroker.com site was launched only on August 4, 2022, and there are no reviews about this company yet.
Information about the Parent Company
According to data, the company PSB Limited operates under the Profit Secure Broker brand. According to the information on the site, the company obtained ASIC approval in 2006 and has been successfully operating in the Russian market since 2016 (presumably with a license from the Central Bank of Russia). However, scans of documents are not provided. There is also information that the broker has FCA approval in the UK, but only a certificate number for incorporation.
Verification confirmed that PSB Limited was registered in 1990 but has no relation to financial services. The PSB Limited number is not listed in the British regulator’s registry. Claims of having a Central Bank of Russia license are also false.
The Bank of Russia added psbforex.org and Access Capital Markets Limited to the blacklist following complaints from deceived traders.
Trading Conditions
Profit Secure Broker offers access to a wide range of assets, including currency pairs, commodities, stock CFDs, cryptocurrencies, and indices. A demo account is not available, and after registration, funds must be deposited immediately. Various tariff plans are presented:
- TEST. Requires a deposit of at least $150. Leverage up to 100x, spreads from 3 points, minimum position size of 0.01 lots. Provides 2 trading sessions, bonuses, and personal manager service.
- MINIMAL. Initial deposit of $1,500. Floating spreads, leverage up to 500x, fundamental and technical analysis, personal manager services.
- STANDARD. Minimum deposit of $5,000. Leverage up to 50x, daily news brief.
- PROGRESSIVE. Starting deposit of $25,000. Floating spreads, leverage up to 10x, priority service, risk management, and personal training with an expert.
Based on reviews of previous scam projects by these fraudsters, the platform is exclusively focused on attracting funds, without providing information on payouts and commissions.
Reputation and Deception Algorithm
Profit Secure Broker, like many other fraudulent projects, uses various deceitful schemes. Fraudsters study each potential victim and choose the method to maximize fund extraction. They offer fake advice, simulate the trading process, and then simply bankrupt the investor’s account.
In addition, scammers use the AnyDesk program to gain remote access to the trader’s account, bypassing security to steal data and passwords. The damage from such operations can be significant.
Conclusions
We do not recommend interacting with Profit Secure Broker, as it can already be affirmed that it is a fraudulent company. It is clearly associated with swindlers who participated in various deception schemes, harming many individuals.
I am dissatisfied with Profit Secure Broker’s services as there is ambiguity regarding their payment process which is highly unprofessional and unreliable.