ChartsProfit Forex Broker

Aspect Information Company Name ChartsProfit Registered Country/Area the United Kingdom Founded Year 2019 Regulation Unregulatory Minimum Deposit $250 Maximum Leverage 1:1000 Spreads Starting from 0.0 pips Trading Platforms Web Platform, MetaTrader 4, L2 Dealer and Mobile App Tradable Assets Forex, Stocks, CFDs, Commodities, Crypto, Futures Account Types Standard account, Professional account,Business account and Business Plus account Demo Account Available Customer Support Email Deposit & Withdrawal VISA, Bitcoin, Litecoin, MasterCard, and bank transfer Educational Resources Lack detailed information Overview of ChartsProfit ChartsProfit, an unregulated forex and CFD broker registered in the United Kingdom, was established in 2019. ChartsProfit offers a diverse range of trading instruments, including stocks, forex, commodities, futures, and cryptocurrencies. The broker provides access to the popular MetaTrader 4 (MT4) platform and a proprietary web platform, catering to both beginner and experienced traders. ChartsProfit emphasizes its competitive spreads, high leverage options, and diverse account types. While ChartsProfit presents itself as a extensive trading platform with various features and tools, the broker's lack of transparency regarding trading fees and deposit/withdrawal processing times raises concerns about the adequacy of its services. Additionally, single customer service channel and limited educational resources beyond basic trading knowledge could disadvantage beginner traders or those seeking advanced learning materials and tools. Regulatory Status ChartsProfit, incorporated in the United Kingdom, operates without regulation from any recognized financial authority. This lack of oversight poses significant risks, as unregulated brokers are not bound by ethical standards or client asset protections typically enforced by supervisory entities. Pros and Cons ChartsProfit offers several advantages, including a wide range of tradable instruments across various markets, high leverage options for experienced traders, and a user-friendly trading platform. The broker also provides 24/5 customer support and claims to offer educational resources, although details are limited. However, there are significant drawbacks to consider. The most notable concern is the lack of regulatory oversight, which raises questions about the safety of client funds and the broker's adherence to industry standards. Additionally, the absence of transparent fee information and details about deposit and withdrawal processing times makes it difficult for traders to assess the potential costs involved. The educational resources, while mentioned, lack detailed information on the website. Pros Cons Diverse range of trading opportunities Lack of valid regulatory certificates User-friendly trading platform Limited information on trading fees Various account types Lack of detailed information on educational resources High leverage options Limited customer service channel Lack of information on deposit and withdrawal process times Market Instruments ChartsProfit provides a comprehensive range of trading instruments to cater to diverse traders' needs. The broker offers CFDs on stocks, forex, commodities, and cryptocurrencies, enabling traders to take advantage of price movements in different markets. ChartsProfit also offers futures trading for contracts on various underlying assets. Stocks: ChartsProfit offers CFDs on stocks from major global exchanges, including the FTSE, NASDAQ, and NYSE. Traders can go long or short on stocks, taking advantage of price movements in both rising and falling markets. The platform boasts leverage of up to 1:10 on stock trades and provides access to a wide range of companies across various sectors. Forex: The broker provides access to over 55 forex pairs, including major, minor, and exotic pairs. Traders can benefit from competitive spreads, starting at 0.2 pips on certain instruments, and leverage reaching up to 1:1000. ChartsProfit emphasizes its fast execution and direct access to the interbank market, creating a favorable trading environment for forex traders. CFDs: ChartsProfit offers CFD trading on various underlying assets, including forex, stocks, indices, and commodities. CFDs allow traders to speculate on price movements without owning the underlying asset, providing flexibility and the potential for profits in both rising and falling markets. The broker offers leverage of up to 1:500 on FX instruments for professional clients and highlights its adherence to the Best Execution Policy by MiFID II. Cryptocurrencies: ChartsProfit provides access to over 100 cryptocurrencies, including popular options like Bitcoin, Ethereum, Ripple, Litecoin, and more. Traders can capitalize on the volatility of the cryptocurrency market and potentially profit from price fluctuations. Commodities: The broker offers a diverse selection of commodities, spanning precious metals, energy, industrial, agro, and financial sectors. Traders can trade commodities like gold, silver, oil, platinum, and coffee, taking advantage of competitive spreads and modest margin requirements. Futures: ChartsProfit allows traders to engage in futures trading, which involves contracts to buy or sell an asset at a predetermined price and date in the future. The broker offers futures on various underlying assets, including commodities, stock indices, currencies, and precious metals. Account Types ChartsProfit offers four live account types and a risk-free demo account: Standard Account: This account requires a minimum deposit of $250 and is suitable for most traders. It provides access to all trading instruments and features of the platform. Professional Account: With a minimum deposit of $10,000, this account is designed for experienced traders and offers additional benefits, such as an assigned account manager. Business Account: This account requires a minimum deposit of $30,000 and is tailored for corporate clients. It includes access to company events, seminars, and webinars. Business Plus Account: This account requires a minimum deposit of $100,000 and offers premium features and services for institutional clients. Demo Account: This risk-free account allows traders to practice their strategies and familiarize themselves with the platform before trading with real money. Except for the Standard Account, all account types offer services such as an assigned account manager and are all swap-free. In terms of account offerings, the Professional Account provides a 30% deposit bonus, the Business Account a 50% deposit bonus, and the Business Plus Account a notable 100% deposit bonus. Feature Standard Professional Business Business Plus Min Lot Size 0.01 0.01 0.01 0.01 Trading Platform ChartsProfit webtrader ChartsProfit webtrader ChartsProfit webtrader ChartsProfit webtrader Minimum Deposit $250 $10,000 $30,000 $100,000 Mobile Trading Mobile Trading Mobile Trading Mobile Trading Tailored conditions Account Manager - Account Manager Assigned Account Manager Assigned Account Manager Assigned Company events, seminars, webinars spot guaranteed - - Included Included VIP Events - - - ✅ 24 Hour Trading ✅ ✅ ✅ ✅ Deposit Bonus - 30% 50% 100% Yearly Bonus - - - ✅ Islamic Account - ✅ ✅ ✅ Account Opening Process Opening an account with ChartsProfit is a straightforward process that can be completed in a few simple steps: Register: Enter your email address and create a password to start the registration process. Complete Your Application: Fill out the secure application form with your personal and financial information. Confirm Your ID: Verify your identity by submitting the required identification documents, such as a passport or driver's license. Fund and Trade: Once your application is approved, fund your account using one of the available payment methods and start trading. Leverage ChartsProfit offers varying leverage options depending on the instrument and account type. For stock trading, leverage is up to 1:10. Forex trading offers leverage up to 1:1000, while CFDs on FX instruments can have leverage up to 1:500 for professional clients. Commodity trading leverage is up to 1:25. Trading Fees ChartsProfit claims to offer ultra-low spreads, starting from 0.0 pips. However, the broker specifies that spreads on certain forex instruments start at 0.2 pips and CFDs can have spreads as low as 0.1 pips. This suggests that the 0.0 pips spread may not be available for all instruments or account types. ChartsProfit does not provide specific information about trading fees or commissions on its website. It is recommended to contact the broker directly to inquire about the applicable fees for each instrument and account type. Trading Platform ChartsProfit offers multiple trading platforms to cater to different trader preferences: Web Platform: The web platform allows for seamless forex trading without downloads, making it accessible from any device with an internet connection. MetaTrader 4: This popular platform enables traders to create forex trading algorithms for automated execution, even when offline. L2 Dealer: This DMA (Direct Market Access) platform provides traders with greater control over their forex CFD trades. Mobile Apps: ChartsProfit offers dedicated iOS and Android apps for smartphones and tablets, allowing traders to trade on the go with full trading capabilities, including various order types, news, and analysis. Deposit and Withdrawal ChartsProfit offers various deposit and withdrawal methods, including VISA, Bitcoin, Litecoin, MasterCard, and bank transfer. The minimum deposit for each account type varies. For a Standard Account, a minimum deposit of $250 is required. In contrast, a Business Plus Account demands a significantly higher minimum deposit of $100,000. Importantly, the broker does not impose any deposit fees. The website neglects to mention the minimum withdrawal amounts, as well as the processing times for deposits and withdrawals. Traders are advised to contact ChartsProfit directly for more information on deposit and withdrawal procedures. Customer Support ChartsProfit provides customer support through email at support@chartsProfit.net. The support team is available 24/5 to assist clients with their inquiries and concerns. However, no other customer support options, such as phone or live chat, are mentioned on the website. Educational Resources ChartsProfit claims to offer a Market Analysis section, including Daily Market Analysis, Weekly Live Webinars, Live Q&A Sessions, and Trading Strategy. However, no detailed information is provided on the website. It is unclear whether these resources are regularly updated or cover a wide range of topics. Conclusion ChartsProfit offers a diverse range of market instruments, multiple trading platforms, and high leverage options, making it a potentially attractive platform for traders. However, the lack of regulatory oversight and transparent fee information raises significant concerns about the broker's legitimacy and trustworthiness. Potential users should carefully consider these risks before engaging with ChartsProfit and prioritize regulated brokers with transparent fee structures for a more secure trading experience. FAQs Q: Is ChartsProfit a regulated broker？ A: No, ChartsProfit is not regulated by any recognized financial authority. Q: What trading platforms does ChartsProfit offer？ A: ChartsProfit offers a web platform, MetaTrader 4, L2 Dealer, and mobile apps for iOS and Android devices. Q: What is the minimum deposit required to open an account with ChartsProfit？ A: The minimum deposit varies depending on the account type, starting from $250 for a Standard Account. Q: Does ChartsProfit offer leverage？ A: Yes, ChartsProfit offers leverage up to 1:1000 on forex, 1:500 on CFDs for professional clients, 1:25 on commodities, and 1:10 on stocks. Q: What are the trading fees at ChartsProfit？ A: ChartsProfit does not disclose specific information about trading fees, or commissions on its website. Traders are advised to contact the broker directly for details on the fee structure.