PROFIFOREX

About company:

ProfiForex has been offering online trading services since 2010. It is an offshore broker using STP technology. Among the assets are currency, CFDs and precious metals.

 

Company. Fund security

ProfiForex is a trade name of Profiforex Corp. - a company located in the Seychelles where regulation of the Forex broker is optional. As a result, brokers based on these islands do not face the strict requirements that are imposed on UK or US companies. It is not necessary to conduct regular audits, keep clients 'funds in separate accounts (although ProfiForex claims that they keep clients' money in segregated accounts), have a certain minimum capital that proves financial stability.

 

Offshore zones are an attractive destination for new brokers due to more loyal regulation and less expensive registration procedure. If, however, you intend to invest heavily, we recommend that you choose among brokers regulated by the FCA or US regulators, where there are more guarantees that your money will be safe and protected.

 

Trading conditions

ProfiForex offers its clients two main standard account types: Micro and Standard. All transactions in a micro account are made in cents. Working with small amounts and less risk is ideal for those who are just taking their first steps in the foreign exchange market. The standard account allows trading large volumes and is suitable for experienced traders.

 

In addition, Islamic accounts are provided to those clients who do not wish to receive interest for religious reasons. There is an additional commission for this free service.

 

ProfiForex also provides a PAMM system for clients who prefer to have their accounts managed by experienced traders (managers). On the other hand, such professional traders have the opportunity to generate additional income.

 

Minimum initial deposit

The minimum amount required to open an account with ProfiForex is only $ 1. Given the lack of a license from the regulator, this amount seems quite reasonable.

 

Spreads and commissions

This broker offers both fixed and floating, available on both types of accounts. Fixed spreads are 2 pips on EUR / USD and do not include commissions. This fixed spread is considered the average for Forex.

 

On the other hand, variable spreads average 0.7 or 0.4 per EUR / USD and include a fee of 0.3 / 0.6 pips. So basically, trading with a variable spread is about 1 pip including fees, which is a relatively low cost in the foreign exchange market.

 

Leverage

The maximum leverage rates in ProfiForex reach 1: 500. We advise traders to exercise caution when using higher leverage levels, as they can not only increase profits on a small deposit, but also increase losses.

 

Trading platforms

MT4 platform available. It needs no introduction, all professional traders have long been familiar with this program, which is by far the most popular in the world. She achieved this title thanks to an intuitive interface, useful functions that allow you to effectively trade. By the way, its closest competitor is the next generation MT5.

 

Promotions

This broker offers a 50% to 500% deposit bonus that you can get on an unlimited number of accounts.

 

Support service

The customer support service works around the clock. A trader can write his question in live chat or by mail. However, the broker does not offer a phone number for communication.

 

Ways of payment

The following payment methods are available to ProfiForex clients: credit / debit cards (Visa, MasterCard), Skrill, Bitoin, Okpay, Webmoney, PerfectMoney, Neteller, RBK Money, LiqPay, W1, Yandex Money, QiWi, UnionPay, Boleto and Mobile

 

PayPal is not available at this time.

 

Accepted currencies: EURO, GBP and USD.

 

Pros:

 

MT4; low minimum deposit; bonuses.

 

Minuses:

 

not regulated.