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Profit Trade Review 2020 – All You Need to Know
At Elite Trading, we are dedicated to providing you with honest, unbiased information about the different brokers available in the market. Not only do we personally test them to evaluate their services and features, but we also provide access to user reviews so you can get an objective view of what each broker has to offer as well as their pros and cons. Today, we are going to review Profit Trade, a well-known broker in the industry.
Profit Trade Review – Know the Facts, Trade with Confidence
Profit Trade is a leading online financial market broker where global traders can trade forex, stocks, cryptocurrencies, commodities, and indices. The broker offers an all-inclusive trading environment, enabling both new and advanced traders to access a wide range of services, features and tools, all from the comfort of powerful and intuitive trading platforms.
As a leading CFD expert, Profit Trade offers up to x200 leverage for its products, is open 24/5 for trading, and provides traders with advanced charts and analysis tools.
As a licensed platform, Profit Trade ensures that trading the financial markets is easy as they provide their clients with the necessary tools to succeed. While the tools are available, Profit Trade also recognizes that it is crucial to know how these trading tools work. As a result, the broker provides educational financial content in a language that everyone can understand. That is, they break down financial data and explain it in such a way that both novice and experienced traders can use this information to their benefit.
At their trading academy, you can find resources such as eBooks, an informative glossary, and webinars to help you better understand the financial markets. The platforms that are available include Web Trader, as well as mobile platforms for iOS and Android mobile users. These platforms are easy to use and to navigate and they offer a wide range of trading tools including price charts and stop loss and take profit orders.
Profit Trade accepts different forms of payment for deposits including credit/ debit cards (Visa, MasterCard or Diners Club), fast wire transfer, WebMoney, as well as local payment methods. Their payment processes are safe and hassle-free. Opening account with Profit Trade is easy to do, while the information requested by the broker is required in order to ensure users have safe trading activities. The customer support team is also responsive and professional and they are available 24/5 to attend to customers via email, a phone call, or live chat.
What Makes Profit Trade Unique?
Profit Trade is a unique brokerage because they enable traders to trade both via web and via their mobile devices. Traders can also trade a wide range of assets including forex, stocks, commodities, cryptocurrencies, and indices. With mobile trading, you will never miss a trading opportunity and you can trade while on the go, offering convenience and flexibility.
In addition to this, Profit Trade offers users a vast catalog of educational materials, to help both novice and experienced traders to navigate the markets profitably. Their blog is extensive and offers a wide range of educational resources, while their trading platforms offer advanced chart and analysis tools to also help traders.
One of the main features that makes Profit Trade unique is that they offer six account types, depending on the requirements, skill and preferences of the trader. Traders can also tailor their accounts to suit their trading needs. One of the account types is a Robot account which offers robot or algo trading. No matter if you are new to the online world trading or a seasoned professional, there is a Profit Trade account that will meet your needs.
Profit Trade – Live Experience Test
As a trading platform, Profit Trade is excellent. The user interface is designed simply, making it easy for both novice and experienced traders to navigate. For both the web trading and mobile trading, the asset classes and currency pairs are clearly displayed, with the sell and ask prices shown and they are also updated in real-time.
The available price charts also show activities for different time frames, including 1 minute, 5 minutes, 15 minutes, 30 minutes, 1 hour, 4 hours, 1 day, 1 week, and 1 month. The candlesticks are also clearly visible, showing the activities on the asset class. This access makes analysis much easier.
Profit Trade has ensured the stop loss and take profit functions are available when placing an order. You can easily see the major, minor, and exotic currency pairs, while the cryptocurrency pairs are also available on display.
The market hours are updated in real-time to keep traders informed on when a market opens and closes. For the CFDs, the prices of the commodities, stocks, and indices are updated in real-time, giving clients a glimpse of the current market situation. A large number of technical indicators and tools are available to help traders take advantage of the market. Another impressive feature about Profit Trade is the ability to use custom indicators and automated trading programs. So if the regular indicators don’t serve you well, you can create your own custom indicators and use them to achieve your desired results.
Profit Trade boasts of an excellent customer support system, and we tested them to see if the statement is true. We created a ticket and sent it to the customer support, and we got an immediate response, detailing exactly how we can solve our problem. To top it off, the customer support is available 24/5, with weekends the only time you won’t find them active.
Our review of user reviews shows that global trader really enjoy trading with Profit Trade and we found that most users enjoy the fact that Profit Trade offers everything you need to trade the financial markets profitably.
Is Profit Trade Legit or a Scam?
Profit Trade is a legit financial markets trading brokerage. It is owned by GPS Marketing LTD, a Bulgarian incorporated company that is registered and licensed by the government of the company.
Profit Trade has done its best to disclose all information to its customers, including the risks involved in trading forex, stocks, commodities, indices, and cryptocurrencies. They also provide a wide range of other educational materials to ensure that each trader knows what they are doing before venturing into the financial markets.
While Profit Trade is a legit trading platform, traders should know that there is no guarantee for returns when investing in the market as profits are made based on the performance of the individual. This means you should take the time to really understand the risks involved in trading so that you can secure the profits while reducing the risks.
Profit Trade Regulation and Safety of Funds
Profit Trade is a highly regulated financial markets trading platform. They have put in place several regulatory efforts to ensure that trades are fair, and the funds of their clients are safe.
Profit Trade is strictly compliant with the anti-money laundering (AML) and Know Your Customer (KYC) regulations. The company implements rules and procedures to adhere to AML regulations. This is to ensure that illegal activities, such as financial fraud, are not carried out on its platforms.
According to their AML rules, withdrawal of funds is carried out only through the same bank account or credit/debit card that a client used in order to deposit funds. Some essential documents, such as valid passport or ID, utility bill or bank statement, and credit card snapshot are requested before withdrawal requests are approved.
The KYC regulation is present to ensure that traders are who they say they are. You will be required to provide personal data, such as your first and last name, email, and phone number when opening an account. Profit Trade might also ask you to provide other information to verify your account thoroughly.
Profit Trade takes the security of both personal data and funds very seriously. They keep user data and funds safe by implementing several security protocols. Some of the security protocols in place include:
- 256-piece SSL encryption over the whole site
- Implanted Genuine Site character affirmation seal
- They hold all customer cash with the leading banks in Europe, separate from their operational funds
- Their customer records in Europe and Canada are totally isolated
- Profit-Trade utilizes 3D-secure for all Visa exchanges to maximize verification
User’s personal information is secured on the platform except if requested by government agencies or third-party service providers that work with Profit Trade to ensure that better services are offered to the clients.
In general, Profit Trade takes extensive precautions to ensure the safety of both user data and funds.
Profit Trade offers six account types to its users. The account types have different requirements and varying features. Here is a review of the account types available on this platform.
- Educational: This account type needs a minimum of $250 as a minimum deposit requirement. It supports desktop, tablet, and mobile versions of the trading platform. Users can get part access to the video tutorials available on Profit Trade. Base currencies are available with fixed spreads, and it has a leverage of 1/100. It is also known as the classic package.
- Standard: The standard package has a starting minimum of $2,500. Similar to the classic package, it supports desktop, tablet, and mobile versions of the trading platform. Users also have partial access to the video tutorials on the platform. It supports base currencies, gold, silver, oil, and small cryptocurrencies. The spreads here can be either fixed or floating with leverage of 1/150. Those with standard accounts are assigned account managers to help them navigate the trading world.
- Premium: The minimum deposit amount on this package is $20,000, and it comes with all standard advantages plus other benefits. Users here get full access to the video tutorials on the platform and also complete access to trade the available assets. The leverage here is 1/200, and each account has access to an account manager. Prime contracts are also available, and users qualify for extra bonuses of up to 100% of the deposit amount.
- VIP: The VIP package starts at $50,000 and has all the advantages of the premium package and more. The leverage here is 1/400, and each account has a personal account manager. Users also get instant news and signals and a bonus of up to 200% of deposited funds. Express wire transfer is supported here, while they also have a referral cashback program.
- Tailored: The tailored package allows traders to design their trading account according to their specifications. The minimum deposit amount can be obtained from the account manager. In addition to numerous benefits, tailored accounts will get to participate in company events, embark in social trading, have a dealing room (trading via phone), and can also meet with other traders.
- Robot: This package will see traders allow robots to take over their trading decisions. The minimum amount to start this package is $5,000, and the platform is available for desktop, tablet, and mobile device users. Additional robot and algo trading support are accessible In this package, while the best robots here offer a discount of 50%. The leverage here on trades is 1/100.
Profit Trade Trading Conditions
The trading conditions on Profit Trade are favorable. The platform has provided its users with a large number of charts and analysis tools to help them navigate the trading terrain. You can choose the trading account type you want, depending on your trading specifications. Each account type comes with its own features, but all are designed to make trading currencies, stocks, indices, cryptocurrencies and commodities easy for the traders.
Profit Trade offers both tablet and mobile versions of its platform. The tablet trader is an excellent solution for when you’re on the go and don’t have access to a desktop. Meanwhile, the mobile trader acts upon any trading opportunities as they happen in real-time. These two features allow traders to trade on the go and instantly act upon market changes.
The platform has ensured that trading stocks, indices, forex, and commodities is available 24/5 to clients all over the world. Since cryptocurrency trading is available 24/7, Profit Trade makes sure crypto traders are able to trade at all hours of the day, including weekends.
The terms and conditions of Profit Trade are clearly stated on their website. Users must be aged 18 or older and legally permitted to use the platform under the regulation that guides their jurisdiction.
In general, the trading conditions on Profit Trade are favorable to financial markets traders.
Fee and Spreads
Profit Trade has a few fees which is charges its traders. The platform has a dormant/inactive account fee of $85, and this is charged to accounts that are dormant/inactive for 30 days or more.
Profit Trade also charges withdrawal fees. Withdrawals are subjected to withdrawals processing, and handling fees, and the fees are deducted from the transferred withdrawn amount.
The platform offers both fixed and floatable spreads. The fixed spreads are available to those using the standard and classic account types. Those with premium accounts and above also have fixed spreads, but they can enjoy floating spreads.
The spread is the difference between the bid and ask prices and is calculated in pips. The fixed spreads don’t change depending on time or general market fluctuations and volatility. However, with floating spreads, floating spreads are a constantly changing value between Ask and Bid prices. Profit Trade offers both types of spreads to its clients, depending on the type of account they select.
Account Opening Experience
Opening an account with Profit Trade is an easy process. After visiting their website and clicking on the signup page, you will be redirected to the registration page. You will be required to input details such as your first and last name, country, country code, and phone number, email address, password, password confirmation, and promotion code, if applicable.
To register, you will have to agree to the terms and conditions before clicking the register button. After registering, you will be asked to choose a payment method. It can be a credit/debit card (Visa or Mastercard), bank transfer, eWallet or even Bitcoin. You will proceed to deposit some funds in your account before moving on.
You can start trading once you have deposited funds into your account. However, due to AML regulations, you will be required to provide proof of identity and residence before making withdrawals. Your credit card details will be required as well other relevant identification information.
Basically, registering on Profit Trade takes just a few minutes and is easy and hassle-free.
Deposits and Withdrawals
Depositing funds on Profit Trade is easy. However, you will have to perform all the deposits from your own personal account or credit card due to regulations. Thus it is recommended that the account you use should be from your country of residence and carries the same name as on your account.
Profit Trade supports credit/debit card payments via Visa and Mastercard. The minimum deposit amount via these methods is $250. They also support BTC payment. Meanwhile, Profit Trade also accept wire transfer, and the minimum deposit amount via a wire transfer is 1,500 USD. The fund deposit process doesn’t take more than a few minutes on Profit Trade, but you can start trading only once your funds are reflected in your trading account.
The fund withdrawal process here is also easy. However, before withdrawing your funds, you will need to provide documents to verify your identity. All compliance documentation must have been received and approved by Profit Trade’s compliance department in order to proceed with the withdrawal. Secondly, the beneficiary name must be the same as the name on the trading account as Profit Trade doesn’t accept the transfer of funds to third parties. The withdrawal funds will be sent to the credit card or bank account of the trader’s account. Keep in mind that Profit Trade charges withdrawal and processing fees.
Profit Trade Trading Platforms
Profit Trade has basically three trading platforms. The first one is the Web Trader. This platform is available for desktop and computer users. The second available platform is the Tablet Trader, which is an excellent solution for when you’re on the go and don’t have access to a desktop. Lastly, the Mobile Trader, allows traders to act upon any trading opportunities as they happen in real-time from their mobile devices. The three platforms are available to traders at all times, enabling traders to easily move between the different platforms.
Desktop and Mobile App
The desktop platform of Profit Trade allows users to experience and trade on the financial markets from a computer. The desktop Web Trader handles a large volume of live information with regular upgrades provided to the clients. The UI is simple and easy to navigate. You can access this platform from any PC, Mac or Linux workstations, and you can monitor the status of your account and trading desks. It also has a broad range of technical indicators and tools and provides users with the ability to use custom indicators and automated trading programs.
The mobile app is available for both iOS and Android device users. Since the financial markets are progressive and continually moving, it becomes hard for traders to keep track of every activity in the market. Thus, the mobile apps are available to bridge the gap.
The mobile trading platforms are totally incorporated with Profit Trade’s trading programming and internet trading platforms. This allows traders to adapt and instantly make trading decisions. You can download the mobile app on the Apple store or the Google Play Store.
You can take advantage of the demo trading to learn how the platform works. The Profit Trade demo through Bitcoin Trader is designed to help users understand and master the features available on the live trading platform. If you are a new trader, it is best to try out the demo trading before trading with your real money.
The bonuses offered on Profit Trade varies depending on the account type selected. For the educational and standard packages, there is no bonus available. However, those with premium accounts get extra bonuses of up to 100% of deposit funds, while those with VIP get up to a 200% bonus on deposited funds. The tailored package also gets a 200% bonus on deposited funds.
The customer service on Profit Trade is outstanding. Traders are attended to 24/5, and the customer support is available via email, phone call, or live chat. The support team is responsive and professional and easy to content.
Education and Resources
Profit Trade has an extensive catalog of educational contents on its platform. Under its trading academy, Profit Trade has eBooks and conducts webinars. They also have essential content and a glossary to help new traders understand the terms used in the financial markets. Their blog section is extensive and offers a wealth of information.
Profit Trades accepts three primary payment methods. They accept credit/debit card using Visa and Mastercard, Bitcoin, and bank wire transfer. They also offer WebMoney as a payment option as well as payments via your local bank account. All banking processes are safe and secure, giving you peace of mind.
FAQs – Profit Trade
Is Profit Trade regulated?
Yes, Profit Trade is a regulated platform under the Bulgarian government. GPS Marketing LTD, the parent-company behind Profit Trade, is a registered company in Bulgaria.
What is Profit Trade?
Profit Trade is an online financial markets trading website based in Bulgaria. The platform was launched in 2017 and is currently one of the leading CFD experts in the world. They provide forex, stock, cryptocurrency, commodities, and indices trading services to clients all over the world.
They offer different types of trading accounts, depending on the trader’s preference. They also provide a host of technical tools and charts to ensure that traders find it easy to navigate the financial markets.
Who has experience with Profit Trade?
Profit Trade is designed for financial markets traders. Forex, commodities, stock, cryptocurrencies, and indices traders are those that trade on this platform. Profit Trade is open to both novice and experienced financial markets traders, with the educational contents available, making sure everyone here has a chance to succeed. For those that don’t know how to trade effectively or have time for it, the robots available on Profit Trade can help manage trading accounts on behalf of the clients.
How does Profit Trade work?
Profit Trade is easy to navigate and use. After registering on the platform, you will deposit funds to your trading account via credit card, bank transfer, or Bitcoin. You will have access to the forex, commodities, stock, and cryptocurrency trading assets immediately after your deposit is approved, allowing you to start trading immediately.
You will see assets available on the trading platform as well as their buying and selling prices. Proceed to click on your desired asset and trade. You can take advantage of the take profit and stop-loss features available to ensure that you trade within your limits. Withdrawing funds require a few identification verification steps which are also easy to carry out.
How reputable is Profit Trade?
Profit Trade is a reputable trading platform. It has been around for two years now and has amassed favorable reviews from clients and traders around the world. The platform is verified by Visa and has a Comodo SSL certificate. Profit Trade also has Mastercard Secure and is verified by Barclays.
How do I open an account with Profit Trade?
Opening an account with profit Trade is easy. All you have to do is visit their website, click on the signup button on the far right corner of the site. Provide the information required on the signup page, and you have successfully registered.
Where is Profit Trade based?
Profit Trade is a financial markets trading platform that is based in Bulgaria. It is owned by GPS Marketing LTD, with a registration number 204950758. The clearing company, Global Top Marketing LTD, meanwhile, is based in the Marshall Islands.