A maximum leverage of 1:100 is what ProfitMarket (profitmk.com) offers to investors. Despite the platform having fair trading conditions, one thing remains clear. You won’t get to withdraw funds with the platform. Several members have lodged complaints with regulators regarding withdrawal issues. And we have to do our part and investigate the platform’s features. Learn more in our detailed PROFITMARKET REVIEW.
With a nice-sounding name, ProfitMarket is one of the leading scams in the market. The platform entices users with its above-average trading conditions. Unfortunately, once you sign up and deposit funds, that’s the last you will see of them.
We have seen such scams before, and this one stands out due to its enticing features. Thanks to the available trading conditions, you would think the platform enjoys regulation. As fate would have it, the platform is a huge scare.
Those who have invested failed to withdraw funds for the past few weeks. An investigation is underway, and we hope the platform pays for its mistake. But unfortunately, there’s no way to allow such platforms to exist in the market.
NOTE: When investing for the first time, you need to have confidence in the platforms used. Experts recommend using the best investment options the industry has to offer. These include Coin staking. DeFi, and Masternoding.
You will certainly not get to enjoy the fair trading conditions. After all, withdrawal is a problem on profitmk.com. That’s where we expose all the red flags found on the platform. It would be best to brace yourself as some of these ref flags are well hidden.
Before you make any investment decision, you need to know what you’re getting into. We recommend doing due diligence and finding out more about the platform. Try and find out the experiences of other users with the platform.
ProfitMarket offers one account for all traders, which is a bit odd. You would expect a platform to offer several accounts to cater to different traders' classes. The platform even fails to give the reliable conditions of the accounts.
All we get from the platform is that you can get maximum leverage of 1:100. There are no other features mentioned regarding the accounts. And this puts members at a binder as, in reality, you’re signing up blindly.
The platform ought to indicate the acceptable minimum deposit available. Instead, we have a platform that claims that the more you deposit, the higher your chances of winning. These are false claims and are meant to encourage higher deposits.
Regulators have moved in to protect investors from such claims. For example, the allowed minimum deposit in all jurisdictions is €$250. Some regulated platforms even go as low as $1 to encourage trading.
You have to weigh the pros and cons of a platform. That way, you get an idea of the results to expect. The platform should be transparent and allow investors to trade freely. What we see from profitmk.com is entirely different.
The platform fails to show any relevance in terms of the trading advantage. With several key features missing, members only gets to know the acceptable maximum leverage. That should not be the case in a genuine trading platform.
There are four classes of trading instruments available on the platform. These include commodities, forex, indices, and stocks. However, you should note that the platform doesn’t allow US citizens.
This shows that the platform avoids the strict regulation set by US regulators. The platform has no intention of having a legal framework that protects investors. And this should be a pointer that the platform doesn’t plan to offer fair trading services.
Some of the commodities to trade with on the platform include coffee, cotton, gas, etc. The platform also pairs major and minor currency pairs. Sadly, the platform fails to offer any information regarding spreads.
Indices are also available and are an eye turner for day traders. You get to trade on the world’s biggest stage. These include indices such as DAX, Dow Jones, NASDAQ, S&P 500, and more. You get to know how the market determines prices on a global scale.
Stock trading is one of the oldest forms of investing. You get to trade shares of leading companies. The platform doesn’t offer shares of tech giants Apple and Google for some reason. You get to trade shares of companies such as Samsung and Volkswagen.
There’s no mention of who owns the platform, let alone where the platform resides. And this makes ProfitMarket an anonymous investment platform. You need to stay away from such platforms or risk losing your investment.
The problem with anonymity is that there’s no way of recovering funds. You don’t know who is held responsible for funds on the platform. The platform fails to mention the CEO or founding members, and even staff names are missing.
Hiring recovery agents won’t help your cause. A recent investigation revealed that these agents are part of the scam. The platform will share your information with them, and agents will make first contact.
These agents will email claiming to have won a lawsuit against the platform. All you have to do to get part of the settlement is cover the legal fees. Don’t send any funds, as these agents are the final nail in the coffin.
Isabella Mariana deposited €4,000 hoping to start trading as a way to mitigate her income. Little did she know that she had deposited funds in the lion’s den. The platform failed to allow her to withdraw even after making a profit of €2,200.
Her balance is €6,200, and she has been sending emails without getting any responses. The platform blocked access to her account as we published this post. We are saddened that this is happening to anyone who sends withdrawal requests.
Don’t expect any contact or support from the platform. The platform won’t bother responding to withdrawal requests. There’s actually no help page as the platform offers a FAQ page. So again, we see a platform that wants to control the communication process.
We insist on trading with platforms that have open communication channels. These include platforms that allow members to call directly and talk to a representative. As a result, there’s no need to block communication with traders.
The demo account doesn’t help much as it’s a buy/sell option. There’s no integration with the MT5 trading terminal. The availability of the MT5 trading platform is the only feature worth praising on the platform.
Your funds are far from safe with a platform that fails to offer meaningful trading solutions. The platform doesn’t protect the interest of members. You don’t get any insurance cover as dictated by trading regulations.
We also suspect that the platform doesn’t segregate accounts. The owner holds funds in a single offshore bank account. And that’s why no recovery agents can claim to recover funds from an offshore bank account.
No. ProfitMarket is not a licensed platform and doesn’t hold valid credentials. It’s an anonymous and unregulated platform with no legal framework. We insist that you stay away from it.
Please stay away from profitmk.com; and it’s a forex investment scam.
PS: You need to invest in proven strategies considered the best investments.
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