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Tradeprofits

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Operating status: SCAM

Website: https://tradeprofitsltd.com/

Broker violations and abnormal records
  • 2023-05-31 The UK FCA issued a warning against Tradeprofits

    On June 1, 2023, the Financial Conduct Authority (FCA) issued a warning against Tradeprofits, believing this broker might be providing financial services or products without proper authorization: https://www.fca.org.uk/news/warnings/tradeprofits

    On June 1, 2023, the Financial Conduct Authority (FCA) issued a warning against Tradeprofits, believing this broker might be providing financial services or products without proper authorization: https://www.fca.org.uk/news/warnings/tradeprofits
  • 2023-06-04 BrokersView has reviewed that Tradeprofits is an unregulated broker

    Tradeprofits claims to be registered with the Companies House (CH) under company number 10973887. However, our search discovered that the company number in the CH register belongs to another company named Crypto Gain LTD which is dissolved. This is a red flag. Investors must bear in mind that the CH only serves as a registrar of companies in the UK and is not empowered to regulate financial markets. Mere registration with the CH doesn't mean the authorization to legally provide financial services or products. Almost all firms and individuals must be authorised by the Financial Conduct Authority (FCA) if they offer, promote or sell financial products or services in the UK. However, the FCA has clearly confirmed in a warning against Tradeprofits that this firm is not authorized to provide financial products or services.

    In essence, Tradeprofits is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

    Tradeprofits claims to be registered with the Companies House (CH) under company number 10973887. However, our search discovered that the company number in the CH register belongs to another company named Crypto Gain LTD which is dissolved. This is a red flag. Investors must bear in mind that the CH only serves as a registrar of companies in the UK and is not empowered to regulate financial markets. Mere registration with the CH doesn't mean the authorization to legally provide financial services or products. Almost all firms and individuals must be authorised by the Financial Conduct Authority (FCA) if they offer, promote or sell financial products or services in the UK. However, the FCA has clearly confirmed in a warning against Tradeprofits that this firm is not authorized to provide financial products or services.In essence, Tradeprofits is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

Related Complaints

Q&A

What is the minimum investment amount?

Rabia Adnan
Poland
2023-07-06
ANSWER Tradeprofits is an unlicensed broker that we advise against trading with, despite the seemingly attractive deals it offers.Tradeprofits, whose company name is Tradeprofits Limited, falsely claims to be registered with the Companies House (CH) under company number 10973887, as our search discovered the company number actually belongs to another company named Crypto Gain LTD which is dissolved. This is a red flag. Furthermore, investors must bear in mind that the CH only serves as a registrar of companies in the UK and is not empowered to regulate financial markets. Mere registration with the CH doesn't mean the authorization to legally provide financial services or products. Additionally, as per UK laws, almost all firms and individuals, if they offer, promote or sell financial products or services in the UK, must be authorised by the Financial Conduct Authority (FCA). However, the FCA has clearly stated in a warning against Tradeprofits that this firm is not authorized.Regarding your question, we suggest you exercise extreme caution and avoid Tradeprofits due to its status as an unlicensed broker. This fraudulent trading platform comes with significant risks, including financial losses and identity theft, as there are no legal rules in place to safeguard investors' interests. Therefore, investors are encouraged to stay away from unlicensed brokers like Tradeprofits and instead choose a fully regulated one.
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