Brief informationProfi Forex
It belongs to TIM GROUP INC, a company registered in Belize. In the section “Regulation” it calls itself a respectable broker, but it doesn’t give even some trivial license number.
As for contacts, the address in Belize was published but with warning that it was strictly legal. The broker does not invite you to the office. It also notifies that it does not provide technical support by phone. This is a rare case even among basement brokers. So, in case of any problems, the client is invited to write to the mail and humbly wait for an answer, not hoping for a solution in real time.
Platforms
MT4 with mobile versions and Web Terminal.
The broker does not offer its own developments, but this is for better. You can not install software from a dubious source. And illegal brokers are just this case.
Instruments
- more than 40 currency pairs
- over 10 types of indices and metals
Types of accounts
An "adult" account can be opened with a deposit of $ 5, the upper end of investments is not limited. You can trade from 0.01 to 1000 lots. The maximum leverage is 1: 500. In accordance with religious beliefs, you can choose the option without swaps: the broker assures that this will not cause additional costs for the client.
ProfiForex actively offers to transfer money management to specialists, i.e. its own employees. Of course, the leading complaint against the broker is the leak of account by its experts. The second place in the frequency of complaints is the standard “I can’t withdraw money”.
Replenishment and withdrawal of funds
You will receive money in all kinds of ways, including small local electronic wallets.
The withdrawal will be made the same way that the money was deposited. In the section with benefits it is announced the instant withdrawal of profits. A little lower it is promised to withdraw money within 24 hours, but this period is in doubt.
In the section on the refund policy, ProfiForex states its right to:
- block access to the personal account of the client
- block his/her money
- cancel the withdrawal request
As soon as the broker sees a contradiction with its own money laundering policy. At first it seems that the measure is standard. But it is worth taking a look at this very substitute for the document - and you understand that the something is not right. The whole “Politics” is half the page of a baffling text.
Decent brokers have clear criteria and regulations by which transactions may be considered suspicious and potentially illegal. ProfiForex also intends to determine bad money transactions by eye. You must admit, it’s very convenient to block money by declaring the transfer suspicious. Exclusively on the basis of our own anti-money laundering policy. Which leaves the greatest opportunity for abuse.
Conclusion about ProfiForex
A typical basement broker that carefully laid loopholes for itself for appropriation of traders’ money. And now the broker walls itself off from clients by refusing to provide telephone technical support.
