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profitix

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What about this broker's license?
Stifff
Puerto Rico
2023-05-15
ANSWER ProfitiX is an unlicensed broker we advise against trading with, despite the seemingly attractive deals it offers.We have confirmed that ProfitiX is falsely claiming to be operated by ProfitiX Ltd. registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) as we found no records matching this company in the SVG FSA registry. This is a red flag. Furthermore, the SVG FSA neither issues forex licenses nor regulate entities engaging in such activities. In addition, the Financial Markets Authority (FMA) of New Zealand has issued a warning against ProfitiX for offering financial services or products without proper authorization. You can access the full warning here.Regarding your question, ProfitiX is an unlicensed broker. Entrusting this broker with your funds or personal details could pose significant risks including loss of funds and identity theft as there are no legal protections to safeguard investors. Therefore, we strongly suggest investors avoid dealing with unlicensed brokers like ProfitiX and opt for fully regulated ones instead.
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How safe is my trading experience if I decided to use ProfitiX mobile app ?
Anna
Nicaragua
2022-06-01
ANSWER ProfitiX is not a licensed or regulated broker even though it states offers that look good to be true. ProfitiX claims to be registered in the St. Vincent and the Grenadines Financial Services Authority (SVG FSA) with registration number: 25308 BC 2019. However, we did not find any match results to ProfitiX in SVG FSA. Besides, SVG FSA does neither issue licenses for forex trading nor regulate brokers offering forex activities. What's more, the New Zealand Financial Markets Authority (NZ FMA) has issued a warning that ProfitiX is not authorized and incorporated in New Zealand. You can check the full warning from NZ FMA against ProfitiX.The truth is, ProfitiX is not overseen by any regulators. That means investors' funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like ProfitiX and trade with licensed brokers.
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Is my vietnamese dongs accepted as a method of payment at ProfitiX? Or only USD is accepted ?
AbdulJabbar
Vietnam
2022-05-04
ANSWER ProfitiX is not legit and should be avoided at all events. ProfitiX claims to be operated and owned by ProfitiX Ltd, an entity registered in Saint Vincent and the Grenadines Financial Services Authority (SVG FSA). Nevertheless, SVG FSA does not issue any licenses for forex trading or brokers nor does it regulate or license international companies engaging in such activities. Therefore, we highly recommend exercising caution when dealing with brokers claiming to be registered with or regulated by SVG FSA as they are actually unregulated.What's worse, the New Zealand regulator FMA and Italy regulator CONSOB have successively added ProfitiX to the alert list to warn the public that this firm is not authorised to provide the investment services in their countries. You can check the full alert or warning from FMA and CONSOB against ProfitiX respectively.All proofs make it clear that ProfitiX is not regulated by any financial regulator. That means investors' funds in this broker are unsafe and cannot be protected by any laws. Therefore, it is a scam broker. We would recommend traders stay away from unregulated brokers like ProfitiX and trade with licensed brokers.
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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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