Polar Profits – Broker Review

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Polar Profits

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The United Kingdom’s Financial Conduct Authority has issued a warning against Polar Profits in October 2023

If you are looking for a reliable and trustworthy broker to trade forex, stocks, commodities, or cryptocurrencies, you might have come across Polar Profits. This broker claims to offer a user-friendly platform, low spreads, fast execution, and high leverage. But is Polar Profits a scam or a legit broker? In this review, we will examine the features, pros, and cons of Polar Profits and help you decide if it is worth your time and money.

What is Polar Profits?

Polar Profits is an online broker that was founded in 2019 and is based in Estonia. The broker offers trading services for various financial instruments, such as forex, stocks, commodities, indices, and cryptocurrencies. The broker claims to have over 250,000 clients from more than 100 countries and to provide access to over 1,000 assets.

Polar Profits has a web-based trading platform that is compatible with any device and browser. The platform has a simple and intuitive interface that allows traders to execute orders, monitor the market, access charts, indicators, and tools, and manage their accounts. The platform also supports social trading, which enables traders to copy the trades of other successful traders on the platform.

Polar Profits offers four types of accounts for different levels of traders: Basic, Silver, Gold, and Platinum. The minimum deposit for the Basic account is $250, while the maximum leverage for the Platinum account is 1:500. The broker also offers a demo account for beginners who want to practice their skills and strategies before risking real money.

The broker claims to offer low spreads and commissions, as well as fast execution and no requotes. The broker also provides customer support 24/7 via phone, email, live chat, and social media. The broker also has an educational section on its website that contains articles, videos, webinars, and e-books on various trading topics.

Is Polar Profits a scam or a legit broker?

While Polar Profits may seem like a promising broker at first glance, there are some red flags that suggest that it may not be as trustworthy as it claims. Here are some of the reasons why we think that Polar Profits may be a scam:

  • Polar Profits is not regulated by any reputable authority. The broker claims to be regulated by the Estonian Financial Supervision Authority (EFSA), but this is not true. The EFSA has issued a warning against Polar Profits and stated that it is not authorized to provide investment services in Estonia or any other country. This means that the broker operates without any oversight or protection for its clients.
  • Polar Profits has a history of complaints from its clients. Many traders have reported that the broker has denied their withdrawal requests, manipulated their trades, closed their accounts without reason, and harassed them with phone calls and emails. Some traders have also accused the broker of stealing their money and personal information.
  • Polar Profits has a poor reputation online. The broker has received many negative reviews and ratings from various websites and forums. The broker has also been blacklisted by several watchdogs and regulators, such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC).
  • Polar Profits uses misleading and false advertising. The broker claims to offer high returns, low risks, and guaranteed profits, but these are unrealistic and impossible promises. The broker also uses fake testimonials, awards, and endorsements from celebrities and experts to lure unsuspecting traders.

Conclusion

Based on our research and analysis, we conclude that Polar Profits is a scam broker that should be avoided at all costs. The broker is not regulated by any authority, has a history of complaints from its clients, has a poor reputation online, and uses misleading and false advertising. If you are looking for a reliable and trustworthy broker to trade with, we recommend that you choose one that is regulated by a reputable authority, has a good reputation online, offers fair and transparent trading conditions, and provides excellent customer service.

What to Do If You’ve Lost Money with Polar Profits?

If you have been scammed by Polar Profits or any other broker, you’ll want to seek assistance from brokercomplaintregistry.com immediately. Our experts will consult with you and bolster your claim to help you get your money back. Brokercomplaintregistry.com is a leader in recovering your funds and will help you retrieve your funds from a broker scam.