PROFIT Market Forex Broker provides real users with * positive reviews, * neutral reviews and 2 exposure review!
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It asked for taxes and took long time. Should I report it?
It told me to pay $138348 as the margin before withdrawal. I investigated CMC MARKET but they knew nothing about profit market. My principal totaled $320,000 and my balance including profits totaled $690,000.
In this comprehensive review of Profit Market, we delve into the broker's reputation, user experiences, and various features. The overall sentiment surrounding this broker is overwhelmingly negative, with numerous reports suggesting that it operates as a scam. Key findings indicate a lack of regulation, transparency, and significant withdrawal issues, making it a risky choice for potential investors.
Note: It is crucial to recognize that Profit Market operates under various entities across different jurisdictions, which may contribute to the confusion regarding its legitimacy. Our analysis aims to provide a fair and accurate overview based on the available information.
| Criteria | Rating (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 3 |
| Customer Service and Support | 2 |
| Trading Experience | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
We assess brokers based on a combination of user feedback, expert opinions, and factual data.
Profit Market claims to have been established in 2023, although some sources suggest it may have a longer history. The broker operates on its proprietary trading platform, offering access to various asset classes, including forex, cryptocurrencies, and CFDs. However, there is no credible evidence to support its claims of regulation by any recognized financial authority, which raises significant concerns about its trustworthiness.
Profit Market does not appear to be regulated by any reputable financial authority. Reports indicate that it claims to be based in the UK and Hong Kong, but there is no verifiable information to support these claims. This lack of regulation poses a substantial risk to investors, as there are no legal protections in place for their funds.
Profit Market accepts various payment methods, including credit/debit cards and bank transfers. However, users have reported significant difficulties in withdrawing their funds, with many claiming that their withdrawal requests are either ignored or delayed indefinitely.
The minimum deposit requirement at Profit Market is reportedly around $250, which is relatively low. However, the ease of entry does not compensate for the numerous complaints regarding withdrawal issues and the overall lack of transparency.
There are currently no bonuses or promotional offers available through Profit Market, which is consistent with many unregulated brokers that often lure clients with attractive offers that are later used as leverage against them.
Profit Market claims to offer a variety of trading instruments, including forex pairs, commodities, and cryptocurrencies. However, the actual availability of these assets may vary, and users should exercise caution when exploring these options.
Information regarding spreads, fees, or commissions is sparse, which is a red flag for potential traders. Many users have reported hidden fees and unfavorable trading conditions that further complicate the trading experience.
Profit Market offers leverage of up to 1:100. While this may seem attractive, it is essential to understand the risks associated with high leverage, especially in an unregulated environment.
Profit Market operates on its proprietary platform, which lacks the features and reliability of industry-standard platforms like MetaTrader 4 or 5. This limitation may hinder traders' ability to execute strategies effectively.
Profit Market appears to restrict users from certain regions, particularly the United States, likely to avoid regulatory scrutiny. This limitation may impact potential investors looking for a legitimate trading platform.
Customer support is reportedly limited, with users indicating difficulties in reaching out for assistance. The lack of a robust support system can be detrimental for traders needing timely help.
Profit Market's account conditions are concerning, given the lack of transparency and the numerous complaints about withdrawal issues. Users have reported that once funds are deposited, accessing them becomes nearly impossible.
The available tools and resources are minimal, with no educational materials or trading aids that could benefit traders. This lack of support is particularly alarming for novice investors.
Customer service is reportedly subpar, with many users expressing frustration over the inability to contact support representatives effectively. The absence of a responsive support system is a significant drawback.
The trading experience on Profit Market is marred by reports of platform instability and withdrawal issues. Many users have expressed dissatisfaction with their overall trading experience, citing difficulties in executing trades and accessing their funds.
The trustworthiness of Profit Market is highly questionable, as it lacks regulation and has numerous complaints about fraudulent activities. Many experts advise against investing with this broker due to its dubious practices.
User experiences with Profit Market are overwhelmingly negative, with numerous complaints about withdrawal delays, unresponsive customer service, and overall dissatisfaction with the trading environment.
In conclusion, the Profit Market review highlights significant concerns regarding the broker's legitimacy and operational practices. Potential investors should exercise extreme caution and consider alternative, regulated brokers that offer better protections and support.
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