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Profit Trade Review

  1. Launched in 2017, Profit Trade is a non-regulated, Forex and CFD broker offering retail traders convenient web-based trading across a broad selection of assets, including forex currency pairs, stocks, commodities and cryptocurrencies. Importantly, Profit Trade offers customers trading accounts from $250 and the option of fast, anonymous deposits with cryptocurrencies or traditional currencies. Profit Trade provides 24/7 trading and comprehensive support including a Live Chat help line on the interface. Moreover, the Profit Trade platform is offered in English, Russian and Spanish languages. We saw that customers may receive bonus offers from Profit Trade, that are subject to bonus terms and conditions shown on the website. Whilst the company is not licensed by any financial regulator it complies with international anti-money laundering regulations and implements a strict online security regime. Unless depositing in cryptocurrencies, customers must provide a copy of an official ID document and proof of residence, such as a utility bill. Moreover, customers depositing with a credit card must provide a photocopy of the front of the card with the 6 middle digits blocked for reasons of security. Profit Trade is owned by GPS Marketing Ltd, a company incorporated in Bulgaria under the number 204950758. The registered address is at 28, Dzavaharlal Neru Str, Sofia Municipality, Bulgaria. We saw in the company’s terms and conditions that the website is operated by Global Top Marketing Ltd. The company is located in the Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands, MH96960. Notably, any disputes arising from the Profit Trade website terms and conditions, come under the jurisdiction of the Marshall Islands legal authorities.

  2. Customers can choose from six types of live trading account, with different minimum deposit requirements and customer benefits. Customers need to select the account type that suits their personal goals and trading needs. Nevertheless, all the trading accounts give instant access to the desktop, tablet and mobile trader. Notably, the trading conditions, including spreads for each asset type are clearly indicated under the Trading Products tab on the dashboard of the Profit Trade website.

    Profit Trade Educational Account

    A minimum deposit of $250 is required to open an Educational account ideal for novice traders. The account gives traders partial access to video tutorials, only base currencies on the trading platform, with fixed spreads and leverage up to 1:100.

    Profit Trade Standard Account

    A deposit of at least $2,500 is required to set up a Standard account at Profit Trade. Customers are allocated an account manager and partial access to video tutorials. Moreover, traders have access to a limited asset range including, base currencies, small crypto, gold, silver and oil CFDs with fixed or floating spreads and leverage up to 1:150 leverage.

    Profit Trade Premium Account

    With a minimum initial deposit of $20,000, traders are allocated an account manager and all the benefits of the Standard account. Additionally, customers can access all the video tutorials and may receive promotional bonuses including a 100% match deposit bonus. The Premium account gives customers full access to all the assets on the trading platform and Prime CFDs with leverage up to 1:200.

    Profit Trade VIP Account

    An initial deposit of $50,000 is required to open a VIP account with Profit Trade. Account holders receive all the benefits of the Standard account plus extra bonuses up to 200% of initial deposit, and referral to the cashback program. Additionally, clients get access to news and trading signals, leverage for margin trading up to 1:400 and express wire transfers.

    Profit Trade Tailored Account

    The minimum deposit required to open a Tailored account with Profit Trade is discussed with the account manager. Customers get all the advantages of the VIP account, plus access to Social trading on the platform. Moreover, clients can make telephone trades by contacting the Dealing Room at Profit Trade. We saw that traders are invited to participate in company events where they meet other traders.

    Profit Trade Robot Account

    To open a Robot account for fully automated trading with Profit Trade requires a minimum deposit of $5,000. The Robot account gives access to the company’s best robots with 50% discount, additional robot and also, trading support, and leverage up to 1:100.

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  5. The one-click WebTrader platform is securely accessible from the browser of the desktop computer, without any software download. The user-friendly platform presents a large asset list on the left side of the platform. We saw assets for Forex trading in major, minor and exotic currency pairs. Also, cryptocurrency underlying assets for a range of digital coins traded against the USD, AUD and EUR as well as BCH/BTC. The cryptocurrencies represented on the trading platform, currently include BTC, LTC, XRP, BCH, ETH and DASH. Furthermore, traders can also choose to trade CFDs in commodities, indices and stocks. Before making trading decisions, investors can check the recent market performance of the chosen assets by opening charts covering the past 5 minutes through to the past month. A popularity indicator shows market sentiment in red and green, and the Buy/Sell tabs are clearly positioned beneath the charts, with the Invest tab to the right of them. We saw that the optional Stop-Loss and Take-Profit settings are positioned between the Buy tab and the Invest tabs. Clear information is available instantly on the trading platform by passing the mouse over the info icons next to trading account information on the right side of the platform. Importantly, video tutorials are available in the Trading Academy on the Profit Trade platform, explaining the trading platform features in-depth.

    Profit Trade Mobile Trading Platforms

    Traders can place new trades across all asset types and fully manage open positions on the Profit Trade mobile platforms for iOS and Android phones and tablets. Moreover, customer support is available 24/7 on the mobile platforms, just as it is on the desktop version.  The mobile apps for the Profit Trade mobile platforms are available for free download in the App Store and Google Play.

    Profit Trade Educational Resources

    The Trading Academy, gives customers partial or full access to a broad range of video tutorials for beginners and advanced traders, covering crypto, foreign exchange and CFDs. Additionally, traders can read the free eBooks on cryptocurrency, Forex and CFD trading. Moreover, they can participate in live webinars presented on specified days of each calendar month. We were impressed by the ‘Analytics’ section on the dashboard at Profit Trade, that includes signals for all the asset types offered on the trading platform, financial news, charts, video chart analysis and an economic calendar.

  6. If you want to trade with an award-winning licensed broker, we recommended using IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs
  7. Live support is offered to customers over the live chat help line on the interface, and to a UK telephone number. Email addresses are given on the contact page for the main office, financial department, dealing department, support and compliance. Additionally, a contact form can be submitted directly from the contact page to Global Top Marketing in the Marshall Islands.

  8. Try trading with an award-winning broker like IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs
  9. Customers can deposit in traditional currencies or in four cryptocurrencies.

    Crypto Deposits to Profit Trade

    Customers can set up a live trading account and deposit in Bitcoin, Bitcoin Cash, Ethereum and Dash for ‘fast, safe, secure, anonymous’ trading. Profit Trade digital wallet ID numbers are indicated beneath the QR codes for each of the currencies, on the ‘crypto deposits’ page under ‘Start Trading’ on the Profit Trade dashboard. Clients are required to make a screenshot of the transaction ID and send it to the email address given on the page. Alternatively, customers can contact the personal account manager giving the exact time and amount of the cryptocurrency deposit.

    Deposits in Traditional Currencies to Profit Trade

    Traders depositing in traditional currencies will see their deposits converted to US Dollars, the base currency of all live trading accounts at Profit Trade. We saw that the company accepts deposits with credit/debit cards including Visa and Mastercard, the WebMoney payment method as well as local payment methods and fast wire transfer. Notably, the company uses 3D Secure for all Visa transactions and 256-bit encryption technology across the entire website. The minimum accepted deposit by credit or debit card is $250, and the maximum total deposit per month is $10,000. Conveniently, the use of multiple credit cards is permitted, as long as each card is photocopied, and provided together with the customer’s ID document and proof of residence following account registration with Profit Trade. Customers are instructed to block the middle six digits of the credit/debit card numbers whilst photocopying, for security measures. Customers who choose to deposit using bank wire transfer, must make a minimum deposit of $1,500. The minimum withdrawal amount by wire transfer and to credit cards is $250. We did not see whether Profit Trade charges deposit or withdrawal fees to its customers. However, the company requires up to 5 days to process withdrawal requests, and up to 10 days to deliver funds to customers’ accounts.

  10. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

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    Between 74-89 % of retail investor accounts lose money when trading CFDs
  11. Your capital is at risk