Global Broker governance & inquiry App

Score

0123456789
.
0123456789
0123456789
/10
The WikiFX Score of this broker is reduced because of too many complaints!

Profitto

Saint Vincent and the Grenadines|2-5 years| Benchmark AAA|
Suspicious Regulatory License|MT4/5 White Label|High potential risk|

https://www.profittoltd.com

Website

Rating Index

Benchmark

Benchmark

AAA

Average transaction speed (ms)

354.3 Great

MT4/5

White Label

ProfittoLtd-Demo

United Kingdom
MT4
3

Influence

C

Influence index NO.1

Malaysia 6.34
The WikiFX Score of this broker is reduced because of too many complaints!

Benchmark

Speed:AA

Slippage:AAA

Cost:A

Disconnected:AAA

Rollover:AAA

MT4/5 Identification

MT4/5 Identification

White Label

3
Server Name
ProfittoLtd-Demo MT4
Server Location United Kingdom

Influence

Influence

C

Influence index NO.1

Malaysia 6.34

Surpassed 93.51% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+60 383222219
support@profittoltd.com
https://www.profittoltd.com
Suite 305, Griffith Corporate Centre, Beachmont P.O.Box 1510, Kindstown St. Vincent and the Grenadines

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+60 383222219

Broker Information

More

Company Name

Profitto Ltd

Company Abbreviation

Profitto

Platform registered country and region

Saint Vincent and the Grenadines

Company website
Twitter
Facebook
Instagram
YouTube
Linkedin

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 2
Previous Detection : 2024-02-24
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 9 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

Profitto · Benchmark
Average transaction speed(ms)
354.3 Great
The highest transaction speed(ms)
291 Poor
The highest speed of opening positions(ms)
291
The highest speed of closing position(ms)
293
The lowest speed of opening positions(ms)
631 Great
The lowest speed of closing position(ms)
884 Great
Ranking: 6 / 125
Test user 137
Orders 2,467
Ocuppied margin $285,402 USD
Data Source WikiFX Data provide
Updated: 2024-02-22 01:02:SS

Users who viewed Profitto also viewed..

XM

9.03
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4/5 full license
Official website

IronFX

7.54
Score
10-15 yearsRegulated in CyprusMarket Making(MM)Global Business
Official website

FXGlory

7.62
Score
5-10 yearsRegulated in United KingdomCommon Business RegistrationMT4/5 full license
Official website

LonghornFX

7.58
Score
2-5 yearsRegulated in United KingdomCommon Business RegistrationMT4/5 full license
Official website
Pyramid scheme complaint
Expose

    Profitto · Company Summary

    Aspect Information
    Registered Country/Area Saint Vincent and the Grenadines
    Founded Year 2-5 years
    Company Name Profitto Ltd
    Regulation No Regulation
    Minimum Deposit $10
    Maximum Leverage 1:1000
    Spreads Vary depending on account type
    Trading Platforms MetaTrader 4 (MT4)
    Tradable Assets Commodities, Indices, Forex
    Account Types ECN Account, STD Account, CENT Account
    Demo Account Not mentioned
    Islamic Account Not mentioned
    Customer Support Email (support@profittoltd.com)
    Payment Methods VISA, FPX, helo2Pay, Mastercard, Zaaspay
    Educational Tools BBMA Road Tour, GHG class, seminars

    General Information

    Profitto is a brokerage firm registered in Saint Vincent and the Grenadines, and it is important to note that it is not regulated by any valid regulatory authority. This lack of regulation poses a significant risk to potential investors or traders considering using their services. WikiFX has reported four complaints against Profitto in the past three months, indicating potential issues experienced by clients.

    Profitto offers a range of market instruments, including commodities, indices, and forex. Traders can access these markets but should carefully evaluate Profitto's regulatory status and reputation before engaging in any trading activities. It is crucial to be aware of the potential risks associated with trading through unregulated brokers.

    Profitto provides three types of trading accounts: ECN Account, STD Account, and CENT Account. Each account type offers different trading conditions and features. However, considering Profitto's lack of regulation, traders should exercise caution and thoroughly review the terms and conditions before opening an account.

    When opening an account with Profitto, it is generally recommended to visit their official website, complete the account registration process, provide accurate personal information, verify the account, choose the appropriate account type, fund the account, access the trading platform, and start trading. However, due to the risks associated with unregulated brokers, it is essential to carefully consider the choice of broker and prioritize safety and security.

    It is crucial to note that the lack of regulation, high leverage ratios, and the presence of complaints against Profitto should be taken into consideration. Traders should thoroughly assess the risks involved and consider alternative regulated brokers with a strong reputation in the industry.

    basic-info

    Pros and Cons

    Profitto offers a number of advantages such as a diverse range of market instruments, low margin requirements, access to the popular MetaTrader 4 platform, and a wide range of payment methods. Traders can benefit from educational resources provided by the broker and choose from multiple account types to suit their preferences. However, it is important to note the significant drawbacks associated with Profitto. The lack of regulation raises concerns about the safety and security of funds, and there have been complaints reported against the broker. Additionally, the suspicious regulatory license and high potential risk further contribute to the overall negative assessment. Traders should exercise caution and carefully evaluate the risks before considering Profitto as their broker of choice.

    Pros Cons
    Access to MetaTrader 4 platform Lack of regulation
    Low margin requirements Complaints reported against the broker
    Multiple account types Suspicious regulatory license
    Educational resources available High potential risk
    Low minimum Deposit requirements No valid regulatory information
    Limited range of trading instruments
    No demo accounts available

    Is Profitto Legit?

    Profitto is a brokerage firm that operates in the financial industry. However, it is important to note that Profitto is not regulated by any valid regulatory authority. This lack of regulation poses a significant risk to potential investors or traders who may consider using their services.

    It is also worth mentioning that there have been four complaints reported by WikiFX against Profitto in the past three months. These complaints indicate that there may be problems or issues experienced by clients who have interacted with this broker.

    Given these warnings and the lack of regulatory information, it is strongly advised to exercise caution and avoid engaging with Profitto. It is crucial to choose a regulated and reputable broker that offers the necessary protections and safeguards for your investments.

    regulation

    Markets Instruments

    Profitto offers a diverse range of market instruments for traders to explore. Among these instruments are commodities, indices, and forex. Each of these markets presents unique opportunities and potential for profit. It is important to note that while Profitto provides access to these markets, it is crucial for traders to carefully evaluate the broker's regulatory status and reputation before engaging in any trading activities.

    Commodities:

    Profitto provides the opportunity to trade CFDs on a diverse range of commodities from various sectors, including energy, industrial, precious metals, financial, and agricultural. These commodities form the foundation of the global economy, and traders can gain exposure to products like copper, coffee, silver, and soybeans. Profitto offers low spreads and margin requirements that are relatively modest.

    Indices:

    Profitto allows traders to engage in trading global indices, which are weighted indexes of the top shares on specific exchanges. Examples include the US30 (Dow Jones 30) and the New York Stock Exchange. With a Profitto account, traders can access a wide range of global indices with no overnight financing costs and low margin requirements. The platform offers tight spreads on indices such as the UK 100, US 30, US 500, DE 30, and more.

    Forex:

    Forex, also known as foreign exchange or FX, is the largest and most actively traded market globally, with a daily turnover exceeding $5.5 trillion. Profitto offers coverage for over 100+ spot instruments in the forex market, providing low leverage and financing costs. As a highly liquid market, forex allows for high-volume trades with minimal slippage. Mini accounts on Profitto's platform have guaranteed stop-loss orders during trading hours, ensuring risk management for traders.

    market-instruments
    Pros Cons
    Provides the opportunity to trade CFDs on a diverse range of commodities from various sectors Lack of detailed information regarding the commodities offered
    Access to trading global indices, including widely recognized indexes like the US30 (Dow Jones 30) Limited information about the specific indices available for trading
    Traders can access a wide range of global indices with no overnight financing costs and low margin requirements Lack of transparency regarding the platform's index offerings
    Coverage for over 100+ spot instruments in the forex market Lack of information about the specific forex pairs offered
    Offers leverage and financing costs for forex trading Limited information about the platform's liquidity providers
    Mini accounts with guaranteed stop-loss orders during trading hours for risk management Reports of complaints against Profitto and potential risks involved

    Account Types

    Profitto offers three types of trading accounts: ECN Account, STD Account, and CENT Account.

    ECN ACCOUNT:

    The ECN Account offered by Profitto provides access to a wide range of instruments, including forex, precious metals, indices, commodities, and CFDs. With a maximum leverage of 1:1000 and a minimum spread of 0.1. Each trade executed through the ECN Account incurs a commission fee of $3. The margin stop out level is set at 30%. Margin requirements vary with forex and precious metals at 100, and indices and commodities at 50. Traders using the ECN Account can utilize the popular MetaTrader 4 trading platform. The account can be opened with a minimum initial deposit of $10.

    account-types

    STD ACCOUNT:

    Profitto's STD Account also offers access to forex, precious metals, indices, commodities, and CFDs. It provides a maximum leverage of 1:1000 and a minimum spread of 0.1. However, unlike the ECN Account, there are no commission fees charged for trades executed through this account type. The margin stop out level remains at 30%. Margin requirements are set at 100 for forex and precious metals, and 50 for indices and commodities. Traders using the STD Account can also utilize the MetaTrader 4 trading platform. The account can be opened with a minimum initial deposit of $10.

    account-types

    CENT ACCOUNT:

    The CENT Account offered by Profitto grants access to forex, precious metals, indices, commodities, and CFDs. It provides a maximum leverage of 1:1000, but has a slightly higher minimum spread of 1.5. Unlike the ECN Account, no commission fees are charged for trades executed through this account type. The margin stop out level remains at 30%. Margin requirements are set at 100 for forex and precious metals, and 50 for indices and commodities. Traders can make use of the MetaTrader 4 trading platform with the CENT Account. The account can be opened with a minimum initial deposit of $10.

    account-types
    Pros Cons
    Offers a variety of account types to cater to different trader preferences Lack of information on additional features or benefits specific to each account type
    Access to a wide range of instruments including forex, precious metals, indices, commodities, and CFDs Limited details on the specific selection of instruments available for trading
    High maximum leverage of 1:1000 for all account types Margin stop out level set at 30%
    No commission fees for trades executed through the STD and CENT accounts Limited information on other potential fees or charges
    Utilization of the popular MetaTrader 4 trading platform for all account types Slightly higher minimum spread of 1.5 for the CENT Account
    Low minimum initial deposit requirement of $10 for all account types Limited information on additional account features or account management tools

    How to Open an Account?

    To open an account with Profitto, you can follow these general steps:

    1. Visit the Profitto website: Go to the official website of Profitto to begin the account opening process. Ensure that you are accessing the official website.

    2. Account Registration: Look for “Start Trade Now” button on the website. Click on it to start the registration process.

    open-account

    3. Provide Personal Information: Fill in the required information accurately in the registration form. This typically includes your full name, email address, phone number, and country of residence. You may also need to create a username and password for your account.

    open-account

    4. Account Verification: After submitting the registration form, you may be required to verify your account. This verification process usually involves providing additional documentation such as proof of identity (e.g., passport or ID card) and proof of address (e.g., utility bill or bank statement). Follow the instructions provided by Profitto to complete the verification process.

    5. Choose an Account Type: Profitto may offer different types of accounts with varying features and benefits. Select the account type that best suits your trading preferences and objectives.

    6. Fund Your Account: Once your account is verified and approved, you will need to deposit funds into your trading account. Profitto usually provides various payment methods, such as bank transfers, credit/debit cards, or electronic payment processors. Choose the preferred method and follow the instructions to make a deposit.

    7. Platform Access: Profitto may provide a trading platform, such as MetaTrader 4, for you to access and manage your trades. You will typically receive login credentials to access the platform.

    8. Start Trading: With your account funded and the trading platform accessible, you can begin exploring the available markets, analyzing market conditions, and executing trades according to your trading strategy.

    Leverage

    Profitto provides an absurd amount of leverage – 1:1000. Note that such amounts are simply banned in the States, as well as most of the rest of the world. Regulators have seen them as too dangerous for retail investors and sought to limit their exposure to them. However, as unlicensed brokers like Profitto are not subject to any kind of regulation, they still provide the high amounts, seeking to attract clients.

    Spreads & Commissions

    Profitto offers different account types with varying spreads and commission structures. It is important to note that while the following information is provided, traders should consider other factors and thoroughly review Profitto's terms and conditions to gain a comprehensive understanding of the trading costs involved.

    ECN Account:

    The ECN Account at Profitto offers spreads as low as 0.1 pip. Traders using this account type are charged a commission fee of $3 for each trade executed.

    STD Account:

    Profitto's STD Account provides a minimum spread of 0.1. Unlike the ECN Account, no commission fees are charged for trades executed through this account type.

    CENT Account:

    The CENT Account at Profitto has a slightly higher minimum spread of 1.5. Similar to the STD Account, no commission fees are charged for trades executed with this account type.

    Trading Platform Available

    Profitto offers trading platforms for various devices, including smartphones and tablets. The mobile versions of MetaTrader 4 are available for both Android and Apple iOS devices, allowing traders to access the financial markets while on the go. These mobile platforms provide full support for trading functions and offer a range of analytical capabilities, including technical indicators and graphical objects. Traders can enjoy accessing these features from anywhere in the world, 24 hours a day.

    trading-platform

    For desktop trading, Profitto provides the MT4 Desktop platform. This trading platform is widely recognized and popular in the industry. Its strength lies in its simplicity, making it user-friendly and easy to navigate. With powerful analytical tools, traders can perform in-depth analysis of the markets. Whether traders are interested in automated trading or customizing their own setups with add-ons, the MT4 platform offers a community of traders who share signals, indicators, and oscillators to enhance their trading strategies. Profitto has optimized its MT4 offering over the years, leveraging its experience as one of the early providers of the platform. Traders can expect an ideal trading experience that aims to deliver results.

    trading-platform

    Deposit& Withdrawal

    To deposit funds into your Profitto trading account, the process is quick and straightforward. First, log in to the Client Area, then navigate to the 'Deposits' section. From there, select the trading account you want to deposit funds into and choose from the available payment methods. Please note that certain payment methods may have additional charges, and if you deposit funds in a currency different from your bank funds, you may incur exchange rate fees. Profitto does not cover these charges.

    Withdrawing funds from your Profitto account follows a similar procedure. Log in to the Client Area and go to the 'Withdrawal' section. Select the trading account you wish to withdraw funds from and choose from the provided payment methods.

    The time it takes for withdrawals to be processed depends on the withdrawal amount. For withdrawals below $1,000, the payment will typically be settled within 24 hours. Withdrawals ranging from $1,000 to $5,000 usually take 3 to 5 working days to process. Withdrawals exceeding $5,000 also generally take 3 to 5 working days to be settled.

    Profitto offers various payment methods for both deposits and withdrawals, including VISA, FPX, helo2Pay, Mastercard, and Zaaspay. These methods provide different options for clients to manage their funds. However, it's important to remember that the lack of regulation raises concerns about the overall security and reliability of the deposit and withdrawal processes with Profitto.

    deposit-withdrawal
    Pros Cons
    Options to manage funds with VISA, FPX, helo2Pay, Mastercard, and Zaaspay Lack of regulatory oversight raises security concerns
    Ability to withdraw funds within 24 hours for withdrawals below $1,000 Possible additional charges for certain payment methods
    3 to 5 working days for processing withdrawals ranging from $1,000 to $5,000 and withdrawals exceeding $5,000 Potential exchange rate fees when depositing funds in a different currency
    Limited information on the specific withdrawal process
    Reports of delays in processing larger withdrawals
    Concerns about the overall security and reliability of the system

    Customer Support

    The customer support of Profitto can be reached via email at support@profittoltd.com. They also provide an additional email address for inquiries related to social trading at socialtrading@profittoltd.com. Furthermore, they have provided a physical address for correspondence, located at Suite 305, Griffith Corporate Centre, Beachmont P.O.Box 1510, Kingstown, St. Vincent and the Grenadines.

    Educational Resources

    Profitto offers various educational resources to its clients. One of these resources is the BBMA Road Tour, which provides participants with the opportunity to learn about the basics of BBMA structure and entry points. Clients who join this class also gain exclusive access to a special support group where any questions or concerns can be addressed. Additionally, participants receive a free Profitto jersey and stay updated on the tools used in BBMA through live Zoom sessions and post-class support.

    Another educational offering is the GHG (Learn Practice Repeat) class, taught by an expert called Master Oma Ally. GHG has a reputation for helping traders make profits with low pip counts, starting from 3000 pips for various entries. The class covers topics such as Fibonacci retracements, which are believed to predict about 70% of market movements, as well as the importance of drawing support and resistance levels accurately to find profitable trades.

    Profitto also organizes success trading seminars featuring speakers and motivators like Mr. Rohaizad Hassan, who emphasizes the need for intentional change in order to navigate the challenges of trading. The seminar aims to address the financial mindset and help participants understand how to make positive changes in their trading approach.

    customer-support

    In conclusion, Profitto presents itself as a brokerage firm operating in the financial industry. However, there are significant disadvantages and risks associated with this platform. Firstly, Profitto lacks regulation from any valid regulatory authority, which poses a substantial risk to potential investors and traders. Additionally, the broker has received complaints reported by WikiFX, indicating potential issues with their services. On the positive side, Profitto offers a range of market instruments such as commodities, indices, and forex, providing opportunities for traders. They also offer different types of trading accounts with varying features and leverage ratios. However, it is strongly advised to exercise caution and choose a regulated and reputable broker that offers the necessary protections and safeguards for investments, as Profitto's lack of regulation and reported complaints raise concerns about the safety and reliability of their services.

    FAQs

    Q: Is Profitto a regulated brokerage firm?

    A: No, Profitto is not regulated by any valid regulatory authority. This lack of regulation poses a significant risk to potential investors or traders.

    Q: Are there any complaints against Profitto?

    A: Yes, there have been four complaints reported by WikiFX against Profitto in the past three months. These complaints indicate potential problems or issues experienced by clients who have interacted with this broker.

    Q: What markets can I trade with Profitto?

    A: Profitto offers trading opportunities in commodities, indices, and forex markets. However, it is crucial to carefully evaluate the broker's regulatory status and reputation before engaging in any trading activities.

    Q: What types of trading accounts does Profitto offer?

    A: Profitto offers three types of trading accounts: ECN Account, STD Account, and CENT Account.

    Q: What is the leverage offered by Profitto?

    A: Profitto offers a maximum leverage ratio of 1:1000, which is considered extremely high. Traders should be aware of the risks associated with high leverage before engaging in trading activities.

    Q: What are the spreads and commissions with Profitto?

    A: The spreads and commissions vary depending on the account type. The ECN Account has spreads as low as 0.1 pip and charges a commission fee of $3 per trade. The STD Account has a minimum spread of 0.1 but does not charge commission fees. The CENT Account has a slightly higher minimum spread of 1.5 and no commission fees.

    Q: How can I deposit and withdraw funds with Profitto?

    A: Profitto offers various payment methods for deposits and withdrawals, including VISA, Mastercard, and electronic payment processors. The process can be done through the Client Area on the website, but it's important to note that the lack of regulation raises concerns about the overall security and reliability of these processes.

    Q: What trading platforms does Profitto provide?

    A: Profitto offers the MetaTrader 4 (MT4) trading platform for both desktop and mobile devices. The MT4 platform is widely recognized and provides powerful analytical tools and a user-friendly interface.

    Q: Does Profitto provide educational resources?

    A: Yes, Profitto offers educational resources such as the BBMA Road Tour and GHG (Learn Practice Repeat) classes, as well as success trading seminars. These resources aim to enhance traders' knowledge and skills.

    Q: How can I contact Profitto's customer support?

    A: Profitto's customer support can be reached via email at support@profittoltd.com. They also provide an additional email address for inquiries related to social trading at socialtrading@profittoltd.com. Additionally, they have a physical address for correspondence in St. Vincent and the Grenadines.

    News

    100% Vaccine Deposit Bonus – Profitto Ltd

    News100% Vaccine Deposit Bonus – Profitto Ltd

    2021-12-14 18:21

    Profitto Ltd 100% Vaccine Deposit Bonus allows you to trade on the financial assets. The vaccine bonus added to your margin to your account to boost your trading potentiality. Fund NOW to get started with a margin bonus that helps rescue you at the critical time of drawdown.

    WikiFX
    2021-12-14 18:21
    News
    100% Vaccine Deposit Bonus – Profitto Ltd

    User Reviews

    Sort by content

    • Sort by content
    • Sort by time

    User comment

    8

    Comments

    Write a review

    Apr.Li
    more than one year
    My journey with Profitto has led me to share a few notable insights. Based in the picturesque Saint Vincent and the Grenadines and being a relatively new enterprise with no official regulation, it demands a sense of cautious optimism. Their platform supports the globally acclaimed MT4 trading platform. This, along with a maximum leverage of 1:1000, creates a well-curated environment for decisive maximization of trading opportunities. While their educational tools like seminars seem promising for attaining sharper trading acumen, the lack of specifics on certain elements like a demo account and Islamic account does create room for further clarity.
    2023-12-01 10:47
    Reply
    0
    0
    1233294
    more than one year
    Take care of Profitto! No regulation! Can't withdraw! Not safe! I have to say, Profitto does do well in advertising... Only $10 to get started, and support the supreme MetaTrader4 platform, and also, so many trading instrument to trade. But now let me tell you guys the truth, they are not good as they advertise, and please don't fall into their traps! I have requested a withdrawal many days ago, but until now I haven't seen my money back... No reply... Everything sucks... I need help... Hope no one is tricked like me...
    2023-11-30 18:41
    Reply
    0
    0
    mvtrade2010
    3-6months
    Scammer Broker, I was trading with Proffito till FEB 2023 when I wanted to withdraw my money and even now after 9 months they are refusing to accept my withdrawal for my deposit Do not ever deposit with Proffito because they are acting like scammers
    2023-11-08 03:31
    Reply
    0
    0
    fxvo2200
    6-12months
    No withdrawals allowed with PROFFITO I was creating a withdrawal request with PROFITTO over 3 months ago and they still didn`t approve it. It's been over 3 months since I placed my withdrawal and they keep telling me that my withdrawal is under checkings. They don`t even want to give my deposit back. So far all I can say is that the broker is not accepting ANY withdrawals. Avoid PROFITTO if you don`t want to lose your money!
    2023-08-16 15:20
    Reply
    0
    2
    roy4038
    more than one year
    unable withdraw unitil now
    2023-03-16 14:30
    Reply
    0
    1
    FX1283767917
    more than one year
    Truly, I felt uncomfortable with Profitto’s trading platform, outdated and simple. It always lost connection when I was going to sell or buy order. God save me.
    2023-02-24 13:59
    Reply
    0
    0
    shamee
    more than one year
    Easy To Deposit And Withdraw
    2022-12-13 20:06
    Reply
    0
    1
    karimerr
    more than one year
    fake spread. in mt4 look like 12 spread for gbpjpy. when im entry. almost 30pips.
    2022-12-06 06:41
    Reply
    0
    1
    10
    TOP
    Select Country/District
    United States
    ※ The content of this website abides with local laws and regulations.
    You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
    consumer hotline:006531290538
    Official Email:support@wikifx.com;
    Mobile Phone Number:234 706 777 7762;61 449895363
    Telegram:+60 103342306
    Whatsapp:+852-6613 1970;+44-7517747077
    License or other information error corrections, please send the information to:qawikifx@gmail.com
    Cooperation:fxeyevip@gmail.com