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ProfitiX Review | MT5 Broker
- Broker Type: Market Maker/ Independent
- Leverage: 1:1000
- Regulation: CySEC, IFSC
- Min. Deposit: 250 US$
- HQ: St. Vincent & the Grenadines
- Platforms: MetaTrader 5, MT5 for Android, MT5 for iOS, MT5 WebTrade
- Found in: 2019
- Country: St. Vincent & the Grenadines
Licenses of ProfitiX
- Not regulated
ProfitiX company profile
ProfitiX is a New broker that just entered the market but doing it with MT5 instead of some other trading platform
It offers a wide range of highly effective instruments such as cryptocurrencies ( Bitcoin Ethereum, Litecoin ) currencies, oil and precious metals, and many other tradable assets.
They are not regulated and this is something that traders should be aware of if they plan to trade with this broker. now their address id of course not in the advertised place ” St. Vincent and the Grenadine.” s on this address there are another 500 companies registered at the same address, so lack of transparency is something of an issue here.
many brokers have an address in another place to be an of shore company and thus are able to work without having first to put at least 1 million to get the regulation and license, soi get the part why a broker wants to work under a Belize or St. Vincent and the Grenadine.company. but they should also understand that traders know that this is just a post office and not really a brick and mortar company and that support are sitting somewhere else.
now let’s talk about they do have an offer.
MetaTrader 5 is a multi-asset platform that enables trading currency pairs, stocks, and shares. It offers better and more sophisticated tools for comprehensive price analysis, use of algorithmic trading applications, and copy trading.
- Cross-asset trading on more than 10,000 markets
- Innovative transparency with Level II pricing
- Advanced charting tools
- Multilingual and user-friendly interface
- Ideal for automated trading strategies
- Hedge trading strategy
- Secure SSL-encrypted trading servers
- Exceptional client support 24/5
this platform is the right choice for a new broker to begin with, so this is an advantage they offer over other new brokers.
ProfitiX Trading Accounts
This broker offers multiple accounts options
Mini Account – 250 USD
A minimum order size of 0.01 with a leverage of 1:400 and you can start trading with 250 USD
Advanced Account – 25,000 USD
You can trade more instruments with a maximum order size of 10.00 with a leverage of 1:400
Executive Account – 50,000 US
A trading portfolio and other market analysis are provided.
Prime Account – 100,000 USD
Having a trading portfolio and hedging capabilities
VIP Account –
Experience hedging and trade assets with low market price difference by opening a VIP account that has negative-balance protection.
in our opinion, these are accounts don’t deliver anything and are way too expensive !!!
Methods of Payment
In ProfitiX, transactions are simple and straightforward. There is no charge on withdrawals. It also offers various methods in deposits.
There is a variety of payment methods to choose from; you can pay via visa credit cards, master cards, Western Union, and MoneyGram, as well as a cash payment and e-payments or e-wallets like Diners Club, Neteller, and Skrill.
the Deposit methods depend on clients and the currencies they want for their account,(USD, GBP and EUR)
thou it is too early to say anything for real about this broker and as yet we do not have enough information we find that fact that they are again in suite 2305 like many other brokers that were scams, not a very good sign., also the deposits amounts are ridiculous for minimal features. if you need to put up 100 K in order to get negative balance protection you can see that your interest are not at the heart of the business.
there are better regulated and even on regulated brokers out there like the ones are written below that offer way more for less and have a reputation to back their claims up. in short, we do not recommend you open an account here, maybe only a demo account but I expect you will then get daily phone calls to make a deposit and these calls will not be made from Vincent and the Grenadine.