PROFIT TRADE- Legit or Scam Broker? | In-depth Review
Till today have conducted over 120 reviews of Forex Brokers from around the World. When we start a review we approach the broker with the assumption that they might be a scam and let them convince us otherwise.
SO… what is it That We do? ?
If you look at the forex industry today you see many brokers, and everyday new brokers are being launched and others close their doors with all the problems this brings for the traders. So how does one determine if a broker if a broker is legit or not.
This is where we come and have been doing now for the last 6 years. We have reviewed over 120 brokers and have had accounts with all of them at one point or another, this is needed in order to really understand how they are operating.
we start every forex broker review with the presupposition that they are a not legit and operate as a forex scam then it is unknowingly up to the broker to convince us otherwise and show us they are a legitimate partner for your trading. This puts us this in the perfect position to answer the Question ” is Profit Trade a Legit Forex Broker or are they a SCAM Broker?”.
What are we Looking at?
When we decide or being asked to review a specific brokerage, we look in general at 6 different criteria and asses how the broker is performing in each of these criteria.
We do not tend to focus on the normal subject you find in reviews as we believe these are not the foundation of any brokerage just the sales package, this means we do not look at the Promotions, bonuses offered, different account types, tradable assets and trading platforms.
So what are we Looking at ?.
- Quality of Support
- Trading conditions
Are you able to see and follow what is going on, do you as a trader feel that there is transparency of operation at Profit Trade
How are they working Legally, do they work according to with the Law and Regulatory Requirements regardless if they hold a regulation or not.
How are you treated when you need assistance is there a real knowledgeable person on the other end of the line to help you.
How easy is it to deposit or withdrawal Funds with Profit Trade. Which Payment Solutions are offered and how much do they cost.
What is written about Profit Trade en do people say about them, are these reviews up to date and legitimate.
Are the Trading conditions good for us as traders and not just good for the Broker? How are they compared to the rest of the industry?
SO HOW IS PROFIT TRADE PERFORMING?
Now we dive even a bit deeper into the subjects we just discussed and explain our finding when we analysed the Brokerage “Profit-Trade” we will also try to explain what we found and why these results should be important for the traders.
At times we did have the feeling that we could use a bit more information but, we received the information we wanted and the account is simple. The amount we put in the account was the amount we saw in the account. we did not come across any questionable accounting practices and overall felt that there is the transparency from the broker we were looking for in their dealings with us.