Table of Contents
Profit Index Traders is a clone of another crypto scam known as the CryptoFX Index. The CryptoFX Index logo is still at the bottom of the profitindextraders.com website.
Our profitindextraders.com review exposes why the two are connected and the reason for the blacklisting by the FCA.
Profit Index Traders Review also shows the broker’s intent with your deposit. But, unfortunately, no member gets to walk out with their funds.
And that’s part of the reason the FCA blacklisted the broker. With several lodged complaints, the regulator has to protect investors from the UK.
Quick read: Find out why more and more investors are turning to sports trading. What are the advantages of sports trading tools?
ProfitIndexTraders review will also reveal the dos and don’ts when engaging with online brokers.
We will expose the red flags found on the platform with ease. Spot these features on any other broker and immediately know the broker is a scam.
How do you spot scam brokers?
That’s precisely why we are here, to give you an idea of the scam tactics used by brokers. So don’t just fall for the design aspects of a website.
Before you engage with any broker, do some research. Try and find out what the broker has to offer.
You can always read our reviews or do a thorough search via search engines and find out more about the broker.
A Brief Overview of Profit Index Traders
The about us section talks about the broker knowing the importance of putting clients first. But, unfortunately, that’s not the case, as the broker doesn’t have your interest.
Instead, the broker will convince you to deposit as much as possible. And then claim to help make you the biggest winner.
It all sounds real, especially when you imagine how profitable some of these trades become to investors.
And Profit Index Traders does a perfect job of convincing users to set up an account with them.
One of their biggest flaws was to leave the clone banner or logo. And that shows how sloppy the scammers behind this platform are.
Even the website layout is not as convincing as others. And that’s how you know we are dealing with a brute broker.
From the look of things, we have a broker who fails to offer much in terms of genuine trading capabilities.
Please stay away from any broker who GUARANTEES PROFIT. There’s no such thing as the market being volatile.
Advantages and Disadvantages of Profit Index Traders
Before signing up with any broker, you must weigh the key advantages. What will you get from the liquidity provider?
The broker must have an advantage over others. And these include fair trading conditions and tools used when trading with the platform.
Some main features to look for include the accounts, deposit and withdrawal methods, and trading platform.
You also need to engage with a broker offering demo accounts. A demo account is necessary to test the set features.
No trader should sign up without knowing how best to engage with set conditions. You have to know what you’re getting into.
Accounts and plans profitindextraders.com
There are three accounts to choose from. And how the broker presents these accounts is unprofessional.
These accounts include starter, premium, and executive accounts. Let’s take a closer look at each of these accounts;
Starter
You have to deposit a minimum of $250 to get started. After that, the broker promises low trading frequency and doubles the Bitcoin amount.
Premium
For the premium account holder, members get medium trade frequencies and five times the Bitcoin value.
Executive
It’s the most advanced trading account, with investors having to deposit $50,000. Members get high trade frequency and promise to make ten times the Bitcoin value.
These accounts have an abnormality which we will dive into. Want to know why these accounts are unrealistic?
Account highlights
One of the biggest red flags, as talked about earlier, was the guaranteed profit margin. On each account, the broker promises to double the Bitcoin value.
That’s not the case with this account; no one can profit from it despite the high-profit margin claims.
All these are false claims meant to entice investors to deposit more funds. Once you do, the broker shuts down all communication avenues.
There’s no indication of the vesting period. How long does it take to double the Bitcoin amount after investing?
We will tell you straight away that in cryptocurrency investing, such as staking, expect three to four months of vesting.
Any broker promising a lesser vesting period is lying to investors. You must stay away from the broker or risk losing it all.
Note: Why forex trading is not as great as sports trading. Find out the new way to trade.
Client Testimony
These are not legit clients as the broker would lead you to believe. Instead, the broker uses random business names and stock images.
You won’t find any positive broker mentions in the crypto or forex world. Instead, the broker has a negative mention on all search engines.
Compliance, License, and Regulation Profit Index Traders
Profit Index Traders is not a licensed or regulated trading platform. The broker already has a warning from the Financial Conduct Authority.
The FCA issuing a warning means the broker was tested and found wanting by the regulator.
One of the biggest issues the regulator found was the broker’s empty promises. These unrealistic promises made things harder for the broker.
You have to check and confirm with regulators to find out whether the broker is legit. But first, the broker has to be found in the regulator’s registry.
Some commendable regulators include ASIC, BaFIN, CFTC, CNMV, CONSOB, CySEC, FCA, and the SEC.
Contact and support
Don’t expect any contact from the platform, especially after depositing funds. The broker blocks all communication to avoid engaging with the victims.
You will also find the broker fails to offer much in terms of live chat or direct communication.
And that’s a sign that the broker won’t even bother with emails from members. The phone number listed rarely goes through.
Deposit and withdrawal
After depositing, the amount reflects on your member dashboard within 24 hours. After that, the broker claims you must wait for the profits to soar.
Days turn into weeks, with the broker failing to offer any news on the withdrawal date. And finally, they delete the credentials.
Fund safety with Profit Index Traders
Your funds are far from safe with this broker. So please stay away from them.
The broker fails to offer insurance coverage for deposits made by clients.
Our bottom line profitindextraders.com
Please stay away from the broker.
PS: You need to safely invest in proven trading tools perfect for newbies.
Join the growing crypto community for more.
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