Profit Trade is new broker and below is our Review of Profit Trade
Their website owned by GPS Marketing Ltd. (Bulgarian company) and they are registered in Sofia Municipality, Bulgaria.
Profit Trade is headquartered in Majuro, Marshall Islands.
At this moment there is not much information about the company on their website but you are able to contact them directly through Whatsapp, Telegram and Live Chat (options are available on the right bottom of the website Profit-trade.com).
Is Profit Trade scam or a reliable broker?
Most of the brokers that you could and should consider working as a scam are active for 1 year and not much longer. In the end you have to actually work with them to truly know. We made a small test of only 1 months (like we do with most brokers) and see how they work. this way we also might learn something new concerning the industry and we keep ourselves up to date.
We worked with them pleasantly, they answered the phone and chat and we tried this also in German just to see if the service there is on the same level. The personnel were knowledgeable and courteous and for us depositing and also withdrawing went without any issue. In short, we did not experience any of the tell tale signs that would suggest that Profit Trade is a scam.
Regulation & Licenses
Profit Trade is an unregulated and unlicensed broker.
Regulation is important but not a guarantee. We have seen several examples of that in the last couple of years. Most important is how the broker is handling the issues.
A new broker might not have the funds to open a regulation as this is extremely expensive. And once a broker is live and working for a couple of years it becomes increasingly more difficult to get a license. So, there are many that opt to work like fully regulated in order to build a sustainable business and operation a company for the long term while not being regulated.
Profit Trade is full compliant with international AML and KYC procedures and you are required to submit your identification and prove that the funds are yours to deposit, you will find more information about this on their website or their Blog
Deposit & Withdrawal Methods
Not many different deposit & withdrawal options available at Profit Trade. Only Credit Card, Debit Card and Bitcoin. Now for most the credit card Visa and MasterCard are the preferred option but we would like to see some more options. But for now you are able to fund your account with the most used methods.
Account Types & Spreads
Profit Trade offers 6 different account types.
Educational ($250 minimum deposit limit), Standard ($2500 minimum deposit limit), Premium ($20.000 minimum deposit limit), VIP ($50.000 minimum deposit limit), Tailored and Robot ($5.000 minimum deposit limit).
For Premium account, they give up to %100 and for VIP account, they give up to %200 of deposit bonus.
|Account type||Minimum deposit||Maximum leverage|
|Tailored||Not specified||Not specified|
The minimum amount of $250 is conform the market at this moment. There are brokers where you are able to start with less but if you plan to make money you will actually need to put more, in order to see if this broker is for you have of course first the demo account. I would always suggest that this is the way you start with any new brokerage.
First You trade on the Profit Trade demo Account, test their service and support then if you are satisfied start trading for real.
The trading conditions and the spreads are good making it an attractive broker to trade Bitcoin with.
The leverage ratio Profit Trade offers is 1:100, for standard account 1:150 and for VIP account 1.400
You can trade various forex currency pairs, CFD’s, cryptocurrencies, indices and stocks at Profit Trade.
For the Cryptocurrencies there is the BTC, ETH, LTC, XRP, DSH to trade against the Usd or euro
These are the most traded currencies and you are able to see all the trading conditions for the pairs on their site
Trading Platform of Profit Trade
This Broker offers 2 different trading platforms
There is the web-trader which is a trading platform that is very intuitive but lacks some of the more sophisticated trading tools. If this is what you need then you can trade on the Metatrader 4 which you can download straight from the website.