The PROFITIX is a so-called forex broker situated in Saint Vincent and the Grenadines. There are many serious concerns about this broker. We want to give all the information about this broker in a fair manner.
The broker provides four different trade accounts called Mini, Advanced, Executive, Prime, and a mysterious VIP account. The minimum deposit accepted by the broker for each of the above accounts is $250, $25000, $5000, $100000 respectively. The spreads are fixed at 3 pips and the maximum leverage is capped at 1:400. Apart from this, the mysterious VIP does not offer any insight.
In this section, we want to discuss the advantages of PROFITIX. The major advantage of this broker is the availability of the well-renowned MetaTrader 5. We have mentioned several times the profits of MetaTrader 4. In accordance with this, MetaTrader 5 will definitely provide higher benefits. We are considering high leverages associated with PROFITIX as one of the advantages. But keep track of this the high leverage can cause high risk. That’s why many regulated markets have capped the leverages and are provided only with some professional accounts. Another advantage we can mention is the broker’s variety of financial assets. These assets include CFD on many commodities, indexes, shares, and crypto.
In this section, we are going to discuss the disadvantages of PROFIXIT. Readers are advised to pay special attention to this section. The offshore presence and SVG based nature are not welcomed by traders all around the world. The major reason behind this is that the many SVG based brokers can be a potential scam broker. The PROFITIX brand is owned and operational by PROFITIX LTD associated with the above-mentioned area.
The most disgusting thing about the PROFITIX is not at all regulated by any financial authority available around the world. The prime concern about any traders being rookie or expert must keep this in mind that unregistered and not regulated brokers are a potential scam broker. Our review experience screaming aloud about the potential risk associated with this scam broker. Another disadvantage associated with this broker is the spreads are not disclosed on the website. But the spreads available on the demo account are high at 3 pips. Also, the MetaTrader provided by the third party is also unacceptable.
Is PROFITIX scam or legit?
Being the genuine reviewer we can not recommend you PROFITIX. The legit license is missing. It will highly likely that investment can cause huge losses when trading with this broker. In our view, PROFITIX can be a potential scam broker.
Don’t give up. You can fight back and get your money refunded. Start by filling out the form above and we will get in touch with you and provide you with information on how to start the process.