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Profitfinanceoption.com invites investors to trade Forex and Binary Options on their website.
As an investor, you want a fully reliable trading or investing solution and not a website with dozens of red flags.
Profit Finance Option promises high payouts of up to 81% on binary options contracts.
But they provide zero information about who owns or runs the website.
Generally, we discourage traders against investing with such brokers. Genuine trading is only successful when you utilize the services of reliable brokers.
There is no terms and conditions page either. It appears that Profit Finance Option has never been a registered business or company.
However, they claim that the business is located in the US. They provide the following address at the bottom of the website:
Pavilion, 2608 Erwin Road, North Carolina, USA.
Unfortunately, Google maps is telling us that this is the premises of another company called Pavilion East Llc.
In other words, Profitfinanceoption.com does not conduct its business from the said location.
To contact them, traders can use [email protected] or call through +17204328690.
What exactly does this website offer?
It offers 3 types of trading accounts but does not distinguish which ones are for Forex or binary options trading. They are as follows:
Since they offer a trading environment where spreads are applicable, we presume that they are a Forex broker as well.
If this is the case, we would like to know what leverage is applicable in the 3 account types.
Unfortunately the website does not offer this information for our consumption.
This information should be readily available on any broker’s website and if it’s not there, it simply means the broker is not serious about the business.
We also don’t understand how Profitfinanceoption.com is able to combine Forex with Binary Options.
Most brokers will either offer Forex or Binary options without mixing the two to present as separate products.
So far, Profitfinanceoption.com has not clarified whether the 3 account types are for Forex or binary options trading.
Profit Finance Option is not regulated
The broker claims that they are regulated by (CySEC) under license number 2708/07.
However, this is a highly suspicious statement because brokers who are based in the US are actually not regulated by CySEC.
So either they are playing ignorant or are lying to the naive.
The bottom line is that this broker is lying about their regulatory status.
Do not trade with unregulated brokers as you will most likely fall into the hands of a scammer.
It makes perfect sense for scam brokers to run their illegal business without a license since no regulator is willing to accept a broker who cannot meet their requirement.
Therefore, if you proceed to deposit money with an unlicensed broker, you will definitely get burned.
The broker is lying almost about everything
Profit Finance Option is a website with less than 10 visits per day yet they claim to have registered some 3,000 traders.
This is obviously a lie. They cannot possibly attract this number of clients without having the required visitor traffic.
Secondly, they claim that they have won 5 awards.
Their website does not provide details of the specific awards that Profit finance option received.
This is just an unverifiable claim intended to fool traders so they can believe the broker is popular and reliable.
The truth is that there is no award that this broker won. If they won any award, they would have proudly posted them on their website.
We’re also concerned with the fact that not their founder and staff members were not introduced.
The ownership of this website is 100% anonymous. This is not what you want when investing your money.
And definitely you have to worry when a broker tells you they have 20 years of experience when their website lacks simple pages like about us and terms and conditions.
No consumer reviews for Profitfinanceoption
Their website has a section labeled “happy customers”.
This section contains cooked up stories and images which are freely found on any web template.
They are not real customers. In fact, Profit finance option does not any real customers on their platform.
We don’t think they’ve managed to scam a single person yet. However, if they manage to do it in the future, negative reviews will start to flood the internet.
Already there are enough red flags to warn every trader against investing with this broker.
Not real Forex trading
Every broker has to offer an MT4 or MT5 trading software to its customers.
Notice that Profit finance option is not providing any information regarding whether or not they offer these trading platforms.
When we signed up, we were prompted to make a deposit and at the same time we never saw any sign of real Forex trading environment.
Profit finance option is definitely a scam broker since they don’t provide real Forex trading.
It appears that they only intend to scam investors using their fake binary options trading environment.
They are not regulated and definitely no positive reviews are forthcoming in support of this broker.
Profit finance option is also not transparent with their business operation.
They don’t have an about us page to introduce their founder and staff members.
Their physical address is also false, which makes it very difficult to trust them in the first place.
The best thing you can do for a broker like this is to avoid them.
If you need to trade Forex, you need to place your deposit with a well-regulated Forex broker.