PROFIT CINDA LIMITED Forex Broker
Basic Information
United Kingdom
Scam Brokers 2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
Rating Index
Profit Cinda Limited Forex Broker - Complete Information Guide
1. Overview of the Broker
Profit Cinda Limited is an online trading broker that has been operational since its establishment in October 2022. The company's headquarters is located in the United Kingdom, although it claims to have a presence in various global markets, including the United States, Russia, China, Mexico, Italy, and Australia. Profit Cinda Limited operates as a private entity, not publicly listed, which raises concerns about its transparency and accountability.
The broker primarily serves retail clients looking to engage in forex trading, as well as investors interested in other financial instruments. However, due to its unregulated status, the safety of client funds remains a significant concern. The companys development has been marked by several red flags, including its lack of regulatory oversight and a growing number of complaints from users about withdrawal issues and account access.
Profit Cinda Limited does not disclose any parent company or group affiliations, which further obscures its operational legitimacy. The business model focuses on retail forex trading, offering clients access to various trading products without the backing of a reputable regulatory framework.
2. Regulatory and Compliance Information
Profit Cinda Limited is not regulated by any major financial authority, which poses a considerable risk to its clients. The primary regulatory bodies, such as the Financial Conduct Authority (FCA) in the UK, Australian Securities and Investments Commission (ASIC), and the National Futures Association (NFA) in the US, do not recognize Profit Cinda Limited as a licensed broker.
The absence of a regulatory license means that there are no regulatory numbers or valid licenses associated with this broker. Furthermore, the company does not participate in investor compensation schemes, which would typically offer some level of protection for clients in the event of broker insolvency.
Profit Cinda Limited has not established robust Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures, which are essential for protecting clients and preventing fraudulent activities. This lack of oversight and compliance is a significant red flag for potential investors.
3. Trading Products and Services
Profit Cinda Limited claims to offer a diverse range of trading instruments, including:
- Forex Currency Pairs: The broker provides access to various forex pairs, although the exact number of pairs available is not specified.
- CFD Products: Profit Cinda Limited offers Contracts for Difference (CFDs) on indices, commodities, cryptocurrencies, and rare metals. However, the specifics regarding the number and types of CFDs available are unclear.
- Unique Trading Instruments: There is no mention of any unique or proprietary trading products that distinguish Profit Cinda Limited from other brokers.
The frequency of product updates and the introduction of new trading instruments remain unspecified, which could indicate a lack of innovation or responsiveness to market demands.
4. Trading Platform and Technology
Profit Cinda Limited primarily utilizes the MetaTrader 4 (MT4) trading platform, which is widely recognized in the forex trading community for its user-friendly interface and advanced trading features. The broker does not appear to offer a proprietary trading platform, which may limit the flexibility and customization available to traders.
The MT4 platform is accessible via desktop and mobile applications, supporting both iOS and Android devices. However, there is no mention of a web-based trading platform, which could hinder accessibility for some users.
In terms of execution modes, Profit Cinda Limited does not provide clear information about whether it operates on an ECN, STP, or Market Making model. The broker's server locations and technological infrastructure are also not disclosed, raising concerns about the reliability of trade execution.
5. Account Types and Trading Conditions
Profit Cinda Limited does not clearly outline its account types or trading conditions on its website. However, general information suggests the following:
- Standard Account Conditions: The minimum deposit requirement is unspecified, and details regarding spreads and commissions are also lacking.
- Leverage: The broker advertises leverage of up to 400:1, which is significantly higher than what is typically allowed by regulated brokers in major jurisdictions.
- Minimum Trade Size: Specific details about the minimum trade size are not provided, leaving potential clients in the dark regarding the trading conditions they might face.
- Overnight Fees: There is no information available regarding overnight fees or how they are calculated.
The lack of transparency regarding account types and trading conditions poses a risk for traders seeking to understand the full scope of their trading environment.
6. Fund Management
Profit Cinda Limited supports various deposit methods, including bank transfers, credit cards, and electronic wallets. However, specific details about the minimum deposit requirements for different account types are not provided.
- Deposit Processing Time: The broker claims that deposits via credit card are processed instantly, while bank transfers may take 2-5 business days.
- Deposit Fees: There is no clear information regarding any fees associated with deposits.
- Withdrawal Methods and Limitations: Clients have reported issues with withdrawing funds, with many expressing frustration over delayed or denied withdrawal requests.
- Withdrawal Processing Time: Similar to deposits, the withdrawal processing time is stated to be 2-5 business days for bank transfers, but this is often subject to delays.
- Withdrawal Fee Structure: The broker does not provide details on withdrawal fees, which can lead to unexpected costs for clients.
The lack of clarity surrounding fund management practices is concerning for potential investors.
7. Customer Support and Educational Resources
Profit Cinda Limited offers limited customer support channels, primarily through social media platforms such as Facebook and Twitter. There is no mention of direct contact methods, such as phone or email support, which raises concerns about the accessibility of assistance for clients.
- Service Availability: The broker does not specify its service hours or time zone coverage, which could affect clients in different regions.
- Multilingual Support: Information regarding the languages supported by the customer service team is not provided, potentially limiting assistance for non-English speaking clients.
- Educational Resources: Profit Cinda Limited claims to offer educational materials, but the types of resources available (e.g., webinars, tutorials, eBooks) are not detailed.
- Market Analysis Services: There is no mention of daily analysis, news updates, or research reports that could benefit traders.
- Trading Tools: The availability of trading tools such as calculators and signal services is not specified.
The lack of comprehensive customer support and educational resources could hinder the trading experience for clients.
8. Regional Coverage and Restrictions
Profit Cinda Limited claims to serve multiple markets, including the United Kingdom, United States, Russia, China, Mexico, Italy, and Australia. However, the broker does not provide specific details about its regional offices or the extent of its operations in these markets.
- Markets Served: The primary markets served include retail forex traders and investors interested in CFDs.
- Regional Office Distribution: There is no clear information on the distribution of regional offices, which could impact the broker's operational efficiency.
- Countries Not Accepted: Profit Cinda Limited does not specify which countries or regions it does not accept clients from, which is essential information for potential investors.
- Special Restrictions: The lack of transparency regarding regional restrictions may lead to issues for clients attempting to engage with the broker from certain jurisdictions.
In conclusion, while Profit Cinda Limited presents itself as a forex broker offering a variety of trading products and services, the numerous red flags surrounding its regulatory status, customer support, and transparency raise significant concerns for potential investors. It is crucial for individuals considering this broker to conduct thorough research and exercise caution before engaging in any trading activities.
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Latest Reviews
phạm đình huy
Vietnam
This broker has lost my initial outlay, I have reported many times and asked to pay my initial outlay, but so far the exchange has not paid and blocked all contact.
Exposure
2023-06-12
Dico Việt Nam
Vietnam
I denounce this floor which has cheated my money nearly 150,000,000 dollars and put me in debt. I hope the agency investigates arrest these scammers. They broke into the system and locked my account and I lost all the money I invested
Exposure
2023-05-25
Hương Phạm
Vietnam
I have invested in Profit cinda limited through the broker Anh Phuc financial investment and support company limited based in Da Nang Vietnam, trading account 2077838 with investment capital of 1,000 USD. Then when I wanted to withdraw my capital, the exchange did not allow it and arbitrarily made consistent transactions without my consent and generated abnormally high profits, they asked me to submit money to prove that the anti-money laundering financial statement is 35% of the total amount more than 16,000 USD. When I didn't pay they froze my account for 7 months now. I asked the authorities to intervene with the above brokerage company to return my capital of 1,000 usd. Thank you, I would like to add some pictures of my 1000 USD deposit history on November 25, 2022 into my account 2077838.
Exposure
2023-07-17