Profi Trade 24/7 Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
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Easy to use, transparent trading conditions. Good personal support by dedicated customer services. I would recommend Profi Trade to everyone. This platform deserves a try.
Profi Trade 24/7 has garnered significant attention in the online trading community, primarily due to its unregulated status and questionable practices. This review synthesizes various expert opinions and user experiences, highlighting key features, advantages, and pitfalls associated with this broker.
Note: It is essential to recognize that Profi Trade 24/7 operates under various entities across different jurisdictions, which may impact regulatory scrutiny and user experience. The following analysis is based on extensive research to ensure fairness and accuracy.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 2 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
How We Rate Brokers: Our ratings consider multiple factors, including user reviews, expert assessments, and regulatory compliance.
Founded in an undisclosed year and operating primarily as an unregulated broker, Profi Trade 24/7 claims to provide a range of trading services. The broker offers a proprietary web trading platform, which lacks the robustness of industry-standard platforms like MT4 or MT5. Users can trade various asset classes, including currency pairs, indices, commodities, and shares. However, the absence of a valid regulatory framework raises concerns about the safety of client funds.
Profi Trade 24/7 is registered in China but operates without any valid regulatory oversight. This lack of regulation is a significant red flag, as it means that clients have little to no recourse in case of disputes or issues with fund withdrawals.
The broker accepts deposits and withdrawals primarily via Visa and Mastercard, which is relatively standard. However, the minimum deposit requirement of €250 is considered high compared to many legitimate brokers that allow entry with lower amounts.
The minimum deposit for opening an account with Profi Trade 24/7 is set at €250. While this may seem accessible, it is worth noting that many reputable brokers offer accounts with much lower initial deposits.
Profi Trade 24/7 has been reported to offer bonuses, which is a common tactic among unregulated brokers to entice new clients. However, these bonuses often come with high trading volume requirements that can make it nearly impossible to withdraw any profits derived from them.
Clients have access to a variety of asset classes, including forex, indices, and commodities. However, the platform's offerings are limited compared to more established brokers that provide a broader range of trading instruments.
Profi Trade 24/7 does not clearly outline its costs, such as spreads and commissions, which can lead to confusion among potential traders. The lack of transparency in this area is concerning, as it makes it difficult for traders to accurately assess their potential trading costs.
The broker advertises leverage of up to 1:200, which is significantly higher than what is permitted in many regulated jurisdictions, where limits are often capped at 1:30 for retail traders. Such high leverage can amplify both gains and losses, posing a significant risk, especially for inexperienced traders.
Profi Trade 24/7 offers a proprietary web trading platform, which has received criticism for its lack of features compared to industry standards like MT4 and MT5. This limitation may hinder traders seeking advanced tools and functionalities.
While the broker claims to operate within the European Economic Area (EEA), it has been flagged as a scam by various financial authorities, including the Central Bank of Russia. Therefore, it is advisable for traders in the EEA and beyond to exercise extreme caution.
Customer support options are limited, with only an email address provided for inquiries. Users have reported slow response times and a lack of effective communication, which is concerning for anyone needing assistance.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 2 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
The account conditions are subpar, with a high minimum deposit and no demo accounts available for practice. This makes it challenging for beginners to test the waters before committing significant funds.
The tools and resources offered by Profi Trade 24/7 are minimal. The absence of a robust trading platform like MT4 or MT5 limits traders' capabilities, particularly for those who rely on advanced charting and analysis tools.
Customer service is a significant concern, with users reporting difficulties in reaching the support team and slow response times. This lack of reliable support can be detrimental, especially in the fast-paced trading environment.
The trading experience on the proprietary platform has been described as basic and lacking in essential features. This can lead to frustration among traders who are accustomed to more sophisticated trading environments.
Profi Trade 24/7 has been flagged as unregulated and potentially fraudulent by multiple sources. The anonymity of its operations and the absence of regulatory oversight are major red flags that should not be ignored.
User experiences have largely been negative, with many clients reporting issues with withdrawals and overall dissatisfaction with the platform. This reflects poorly on the broker's reliability and trustworthiness.
In conclusion, the Profi Trade 24/7 review highlights significant concerns regarding its regulatory status, customer service, and overall user experience. Potential traders should approach this broker with caution and consider more reputable alternatives that offer better protections and services.
