ProfitiX Review 2019 | Is ProfitiX a Scam or Legit Forex Broker?

Read our ProfitiX review to find out if ProfitiX is a scam or a reliable forex broker. Unbiased Forex brokers reviews combined with user comments.

Average broker rating

3.3/ 5

Rating breakdown

Protection & Regulations
40% Complete (danger)
2.0/5
Trading platforms
100% Complete (danger)
5.0/5
Tradable Products
80% Complete (danger)
4.0/5
Deposit and withdrawal
100% Complete (danger)
5.0/5
Trading Fees
20% Complete (danger)
1.0/5
Support
60% Complete (danger)
3.0/5
# Broker's Features PROFITIX Availability
# Commissions
# Hedging
# PAMM
# Scalping
# Accepts US traders
# 24 hour trading
# Swaps
# Demo account
# Daily analysis
# Automated trading
# Mobile trading
# Trading by phone
# 1st deposit bonus
# Forex contests competitions
# Bonuses Promotions
# Interest charges on the balance
# Free education
# Expert advisors
# Partnership programs
# Trust management
# 24 hour support

The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review ProfitiX.

Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. ProfitiX offers Online Financial Trading and Investment Services Such as Currency Trading, Commodities Trading, Shares Trad.

Broker Type: Many types of brokers can be found in the most dynamic market in the world. ProfitiX is Broker.

Executing Trades:

ProfitiX allows you to execute a minimum trade of 0.01. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument.

Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. ProfitiX recommended minimum capital is $250.

Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. ProfitiX is regulated by N/A. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.

Investor Protection & Regulations: On the brokers website we read that the broker brand is owned and operated by a SVG-based company with the name ProfitiX Limited. Saint Vincent and the Grenadines is a well-known offshore zone and a preferred location for shady brokerage.

Account currencies: Next lets consider the Account currencies each broker offers. ProfitiX offers USD, EUR, GBP different account currencies for each account types.

Account Openning: ProfitiX is offering users five different trading accounts to choose from. These accounts include Mini, Advanced, Executive, prime, and VIP. Required minimum trading deposit to start using this platform is $250, $25,000, $50,000, and $100,000. It’s not clear how much VIP account users are require to deposit in order to start trading. Leverage in all these accounts seems to be the same, 1:400. There’s something fishy when it comes to these accounts.

Languages Available: Next lets have a look at each broker's different Language options. ProfitiX offers English, Deutsch.

Payment methods: Next lets have a look at each broker's payment options. ProfitiX offers MasterCard, Visa, Bank Wire Transfer different payment methods for each account types.

Deposit and withdrawal: Potential clients of the brokerage may deposit or withdraw via credit cards and wire transfer, however, we do not find any listed e-wallets which we consider always a disadvantage.

Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, ProfitiX makes MT5, WebTrader available to clients.

Other

Support
If you have any issues or want to find out more about ProfitiX . you have access to their 24-hour live chat on the website. You also have a chance to give them a call on their toll-free number and discuss any subject of your liking with highly dedicated customer support. If you are still not satisfied with the options, you may email them at the email provided at the bottom of the website.

Recup
Profitix is not a broker we can recommend. They do not have a legit license, so their operations on regulated financial markets like the European Union, including the UK, as well as Australia, Canada, the U.S. are basically illegal. Besides, with offshore brokers there is always the chance that they simply disaster after ripping you off.

Final Thoughts
It’s our belief that this broker should be exposed for the scam it is. Adding this broker to our scam blacklist hopefully will protect newbies from signing up. It’s also in our best interest if relevant authorities will look into this platform and shut them down. Stay away from a broker who flaunts all regulations and rules set by the industry.

People Also Asked

Is ProfitiX regulated?
Yes, ProfitiX is regulated by top-tier regulators, N/A inclusive.
Where is ProfitiX based?
ProfitiX is based in St. Vincent and the Grenadine
How does ProfitiX make money?
ProfitiX charges a spread between the bid price and ask price. In some instances it also charges a commission.
How do I deposit in ProfitiX account?
With ProfitiX you can deposit money via the following means; MasterCard, Visa, Wire Transfer.
How do I withdrawal in ProfitiX account?
ProfitiX lets you request a withdrawal of funds from your account via the following means; MasterCard, Visa, Wire Transfer.
What is the minimum deposit for ProfitiX?
ProfitiX has $250 minimum deposit.
What are the available account base currencies with ProfitiX?
ProfitiX trading accounts are offered in USD, EUR, GBP. If your country's currency isn't included in the list, you will need to open an account with another currency base.
What is the max leverage in ProfitiX?
ProfitiX has a maximum leverage is 1:400 for professional traders.
How do I open an account with ProfitiX?
Opening an account with ProfitiX is a three-step process. First fill out the registration form, second is to send verification details to the verification department and lastly is to fund your account.
Does ProfitiX use MetaTrader?
ProfitiX platforms: Yes, ProfitiX use MetaTrader as well as the following platforms: MT5, WebTrader
What type of broker is ProfitiX?
ProfitiX appears to be a Broker broker which offers market access to a variety of traders.
Does ProfitiX accept US clients?
No
Does ProfitiX offers Islamic accounts ?
Yes
What financial instruments can I trade?
You can trade a wide variety of instruments with ProfitiX: You can trade a wide variety of instruments with ProfitiX: Currency Trading, Commodities Trading, Shares Trad

Are you Satisfied with what They Offer?