ProfitMarket is a shady broker that will steal all your money and leave you frustrated if you don’t know what to do. The website, which operates from the domain (profitmk.com) is masquarading as a legitimate Forex and CFDs broker but their agenda is quite different. It is indeed true that profitmk.com is offering an MT5 trading software where users can trade 5+ asset classes in addition to 90+ tradeable instruments. They also provide a questionable copy trading platform where investors with no background in trading can copy “expert traders” on the platform.
However, the problem with ProfitMarket (profitmk.com) is that they are using the website as a trap for stealing tradres’ funds. If you want a serious Forex and CFDs broker, you need to look at their reputation and if the broker is regulated with a financial watchdog that is known to enforce regulations, that can be a plus. Those brokers can be found on this list. Just sign up, make a deposit and start trading. If you don’t know how to trade, then you can find help when you explore my trading products recommendations. We hate to see you losing money, so we’re only recommending the best trading products and services.
ProfitMarket (Profitmk.com) review
An entity called Profitmk Ltd is allegedly overseeing the activities of ProfitMarket. However, we are not able to find any more information about Profitmk Ltd. It seems this business name has never been incorporated anywhere.
Meanwhile, the website of Profitmarket claims that the company is incorporated in the UK and is licensed by the FCA.
Profitmk.com is using 537198 as their license number. However, when we search that license number on the FCA database, we fail to find any associations between that license and the broker Profitmarket.
You can clearly see that this license number once belonged to a now deregistered entity called Elizabeth O’Shaughnessy.
It seems that Profitmarket is using this licensing number to fool investors since they are desperately looking for credibility and will go a mile extra to lie.
In short, profitmk.com is not a licensed Forex broker. This fact already disqualifies them.
What does Profitmarket (profitmk.com) offer?
They lure investors using fake promises and benefits that are far from reality. The broker offers the popular MT5 trading software. This trading software is offered by nearly all Forex brokers out there, including the unregulated ones such as Eone FX, Digital Premium Trade and Keler Group.
They also claim that Profitmk.com offers STP trading conditions where they route trades directly into the market, thanks to their liquidity provider — Equinix.
But we can’t believe this claim because we’ve seen that this broker is lying in almost every part of their website’s pages. There is no way they can work with any liquidity provider.
Truth is that they are a market maker because this is how they intend to scam you. A broker like ProfitMarket will cheat you because they are trading against you and if you outsmart them somehow, they will not process any of your withdrawal requests. By this time, you will be having a very big account balance — we’re sure.
Regardless, that is what all unregulated Forex brokers do to their customers. Profitmarket can’t be different.
In terms of leverage, Profitmarket is providing traders a reasonable 1:100. There is no talk of spreads anywhere on the sales page.
What to do if you have been scammed by Profitmk.com
Because this site is run by thieves, chances are high that they will scam many traders in the process.
If you happen to be a victim, you can raise a complaint and get a chargeback. The form that I included in this review can help you with that.
Also, you can utilize the livechat. Your case needs to be looked at and if you qualify for a chargeback, the agency will advise you accordingly.
Avoid Profitmarket because they don’t meet the threshold to qualify for the status of a legit Forex broker.
We’re warning you against using a pathetic investment scam that is Profitmk.com.
If you have any feedback on this broker, please put them in the comment section.