Profiforex is a brokerage firm that offers trading services in forex, commodities, indices, and precious metals to investors. The official Profiforex website can be found at https://profiforex.com/, and it supports English, Russian, and Simplified Chinese as its languages of use. According to domain registration information obtained from a Whois query, the company's website domain was registered on September 6, 2006, making it over 10 years old. However, the official website does not provide any information regarding regulatory oversight.
Company Background:
Profiforex's website states that the company is registered in Belize. However, there is no relevant registration information for the company found on the Belize Companies and Corporate Affairs Registry (BCCAR) website or other related government websites. According to the domain registration information obtained from a Whois query, the company's website domain was registered on September 6, 2006, making it over 10 years old.
Account Registration:
Profiforex's official website provides registration links for both real and demo accounts. Investors can complete the account registration process by providing the required information. It is worth noting that Profiforex requires investors to have a real account with the company before they can open a demo account.
Account Types:
Profiforex's website mentions that the company offers two different types of trading accounts: Standard Account and Micro Account. Each account type also has options for Individual, Joint, and Joint accounts. However, the website does not provide key information such as margin ratios, spreads, and fees for these account types.
Trading Products:
Profiforex's website states that the company provides trading services for forex, commodities, indices, and precious metals. The website also details the specific trading instruments, trading hours, and market closure times for forex, commodities, stocks, and indices.
Interest and Spreads:
The Profiforex website does not provide information about spreads or interest rates during the trading process.
Trading Software:
Profiforex's website mentions that the company offers MetaTrader 4 (MT4) and its proprietary trading software called Mobius Trader. Mobius Trader is available in various versions, including PC (Windows, Mac OS, Linux), mobile (iPhone, Android), and web versions. However, it notes that the Android version of Mobius Trader may have slow download speeds or may not be available in certain regions.
Liquidity Providers:
According to Profiforex's website, the company collaborates with several major financial institutions and banks to provide liquidity support. These institutions and banks include Deutsche Bank, Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Barclays, UBS, and Credit Suisse.
Deposits and Withdrawals:
Profiforex's website provides clear information regarding the supported currencies, fees, processing times, and methods for deposits and withdrawals. The supported deposit methods include Visa, MasterCard, DASH, Webmoney, Bitcoin, Perfect Money, and Ethereum. However, the website does not specify the supported currencies for these transactions.
Trading Contests:
Profiforex's website mentions that the company organizes trading contests for both inexperienced and experienced investors, offering rewards for meeting specific requirements in simulated and real account trading.
Training:
Profiforex's website indicates that the company offers training videos on technical indicators, technical analysis, trading systems, and other related topics, allowing investors to systematically learn about financial market analysis and trading knowledge.
Partnership Programs:
Profiforex's website offers two forms of partnership programs: Internet Partner and Regional Representative Office.
Regulatory Information:
The official Profiforex website does not provide any regulatory information. However, when checking the regulatory oversight of Profiforex on the website of the Financial Services Commission (FSC) of Belize, it was found that the FSC website does not contain any regulatory information related to the company.
Summary:
Profiforex is suspected of fraudulent activity. While the company's website domain has been registered for a long time and the website provides detailed information about account types, deposits, and withdrawals, there are concerns. The website claims registration in Belize, but no relevant registration information can be found on the Belize Companies and Corporate Affairs Registry (BCCAR) website. Additionally, the Belizean regulatory authority, the Financial Services Commission (FSC), does not have any regulatory information about the company on its website. Based on these findings, Profiforex is considered suspicious, and investors are advised to exercise caution when considering the company's services. TraderKnows reminds you to be vigilant about your financial security and avoid falling into potential scams.
