Company Summary
General Information & Regulation
Profitain FX, a trading name of Profitain FX Markets LLC, is allegedly a forex broker registered in Saint Vincent and the Grenadines that claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:500 and variable spreads from 0.1 pips on the MT5 for Windows, Mac and Mobile trading platforms, as well as a choice of four different live account types and 24/5 customer support service. Here is the home page of this brokers official site:
As for regulation, it has been verified that Profitain FX does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.23/10. Please be aware of the risk.
Market Instruments
Profitain FX advertises that it offers access to more than 1,000 trading instruments in financial markets, including forex, metals, energy, commodities, indices, share CFDs, cryptocurrencies of Bitcoin and others.
Account Types
Apart from demo accounts, Profitain FX claims to offer four types of live trading accounts, namely Mini, Standard, Pro and Raw ECN. The minimum initial deposit amount is $51 for the Mini account, while the other three account types have much higher minimum initial capital requirements of $1,000, $5,000 and $10,000 respectively.
Leverage
Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Mini and Standard accounts can enjoy the maximum leverage of 1:500, while the Pro and Raw ECN accounts have leverage of 1:400 and 1:200 separately. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads & Commissions
Profitain FX claims that different account types can enjoy quite different spreads. Specifically, the spread on the Mini account starts from 2.7 pips, the Standard account has spread from 1.9 pips, the Pro account has spread from 1.1 pips, while only the Raw ECN account holders can enjoy spreads from 0.1 pips. As for commissions, there is no commission on the Mini and Standard accounts, while the Pro and Raw ECN accounts will be charged a commission of $3 and $9 separately.
Trading Platform Available
Platforms available for trading at Profitain FX are MT5 for Windows, Mac and Mobile. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
From the logos shown at the foot of the home page on Profitain FXs official website, we found that this broker seems to accept numerous means of deposit and withdrawal choices, consisting of Visa, MasterCard, FasaPay, AliPay, China Union Pay, Skrill, Bank Transfer, Sticpay, as well as cryptocurrencies of Litecoin, etc. The minimum deposit requirement is $100, while there is no mention of what the minimum withdrawal amount is.
Customer Support
Profitain FX‘s customer support can be reached by email: support@profitain.com or live chat. Corporate Office: Saint Vincent and the Grenadines Head Office: Dubai, United Arab Emirates. However, this broker doesn’t disclose other more direct contact information like telephone numbers that most brokers offer.
Risk Warning
Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
