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I'd like to know if Profiton is licensed. Many thanks.
Geoffreying
Kuwait
2024-05-31
ANSWER Profiton is not licensed.The broker purports to be trustworthy, yet it fails to provide any details regarding its regulatory status or contact information to substantiate such claims. This absence of crucial data could be a clear indication of a potential scam, given that regulated entities typically display their certifications and licenses prominently. This is a cause for concern.Furthermore, Profiton has been flagged by the Federal Financial Supervisory Authority (BaFin) for offering financial and investment services on its website without the necessary authorization. The BaFin's warning is another red flag.Therefore, we strongly suggest investors avoid Profiton to protect themselves from potential fraudulent activities. It is critical to conduct due diligence when selecting a broker. We recommend considering fully regulated brokers.
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Should I pay tax to Profiton?
Murat Duz
Moldova
2023-12-11
ANSWER Profiton is unregulated and appears to be a scam. Its requirement for taxes is a common tactic used by fraudsters to press unwitting investors into sending more money. We urge you to refuse to do so, stop sending any more money, and report it to the relevant authorities.Profiton hasn't provided any details about its regulatory status or the company's domicile. It offers a vague introduction about its company and has no legal notices. Traders are left with only an email address and a "Contact Us" web form to reach out to its team, with the initiative in communication being held by Profiton. This lack of transparency is a typical red flag for a scam. Furthermore, it solicits investors in Germany, prompting an investigation by the country's financial regulator, the Federal Financial Supervisory Authority (BaFin). BaFin has confirmed that Profiton is an unauthorized firm operating in Germany.Therefore, trading with Profiton carries the risks of fraud and identity theft. To protect their interests, investors are advised against trading with Profiton and other unlicensed brokers, and instead choose fully regulated ones with good reputations.
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