Profi Trade 24/7 Forex Broker

Risk Warning Trading leveraged products such as forex, cryptocurrencies and derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience. The information presented in this article is intended solely for reference purposes. General Information & Regulation Feature Information Registered Country/Region China Regulation unregulated Market Instrument Currency Pairs, Indices, Metals, Energies, Futures, Shares Account Type Beginner, Trader, Expert, VIP and Exclusive Demo Account N/A Maximum Leverage 200:1 Spread N/A Commission no Trading Platform WebTrader Minimum Deposit €250 Deposit & Withdrawal Method VISA and MasterCard Profi Trade 24/7 claims to be an online trading broker giving their clients access to a series of trading instruments, including Currency Pairs, Metals, Futures, Indices, Energies, and Shares. With the Profi Trade 24/7 platform, investors are given the flexibility of choosing from five types of trading accounts, Beginner, Trader, Expert, VIP, and Exclusive. Here is the home page of this brokers official site: Profi Trade 24/7 is not subject to any regulation to operate illegally. And thats why WikiFX has given this broker a very low score of 1.16/10. Please be aware of the risk. Note: The screenshot date is February 9, 2023. WikiFX gives dynamic scores, which will update in real-time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores. Market Instruments Clients are provided access to 300+ instruments across 6 asset classes, including Currency Pairs, Indices, Metals, Energies, Futures, as well as Shares. Account Types Beginner, Trader, Expert, VIP, and Exclusive accounts are available options for all clients. The minimum deposit amount specifies the account type, with the Standard account from €5,000, the Trader account from €10,000, the Expert account from €25,000, the VIP account from €50,000, the Exclusive account from €100,000. Undoubtedly, the minimum deposit required by each account is absurdly high in comparison to those genuine brokers who ask for a minimum deposit below $100. Leverage Trading leverage varies depending on trading accounts, ranging from 1:10 to 1:50. However, on its homepage, the broker advertises to offer 200:1 leverage. Since leverage can amplify both gains and losses, it can result in devastating losses for investors who lack experience. If you're just starting in the trading world, it's best to stick with the lower size, no more than a 1:10. Commissions Profi Trade 24/7 says that all charging no commissions. Trading Platform When it comes to trading platforms, Profi Trade 24/7 provides a proprietary WebTrader on Desktop and Mobile devices. Anyway, you had better choose brokers who offer the leading MT4 and MT5, which are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors. Deposit & Withdrawal The minimum deposit is €250, and deposits and withdrawals can be made through VISA and MasterCard only. Customer Support If you have any inquiries or trading-related issues, contacting Profi Trade 24/7 is not an easy thing. Only an email address is provided: support@profitrade24-7.com. Alternatively, you can choose to fill up the contact form on the webpage and wait to be connected. Pros & Cons Pros Cons • Rich trading assets to choose from • No regulation • Multiple trading accounts available • High minimum deposit (€250) • Demo accounts unavailable • Weak trading platform • Limited payment methods Frequently Asked Questions (FAQs) Q 1: Is Profi Trade 24/7 regulated？ A 1: No. It has been verified that Profi Trade 24/7 currently has no valid regulation. Q 2: Does Profi Trade 24/7 offer the industry-standard MT4 & MT5？ A 2: No. Instead, it offers a WebTrader. Q 3: What is the minimum deposit for Profi Trade 24/7？ A 3: The minimum initial deposit is €250 while opening an account requires at least €2,500. Q 4: Is Profi Trade 24/7 a good broker for beginners？ A 4: No. Profi Trade 24/7 is not a good choice for beginners. Not only because of its unregulated condition, but also because of its high initial deposit requirement.