Trading Accounts
Working with smaller sums of money and with less chance of losing is perfect for people who are taking their first moves in forex trading. Standard accounts allow trading at a greater volume and is ideal for experienced and regular traders.
Additionally, swap-free (Islamic) accounts are also available to customers who do not wish to pay interest due to religious reasons. A commission is added to this swap-free option.
Additionally, ProfiForex provides PAMM system for clients who would prefer to have their accounts run by knowledgeable trader (managers). However these professional traders also are able to earn an additional source of revenue.
The Company. Security of Funds
In operation since the year 2010, ProfiForex operates as an offshore STP broker that offers trading in CFDs, currency pairs as well as precious metals via the well-known MetaTrader 4.
ProfiForex is the trading name of Profiforex Corp., a firm based in the Seychelles which is a country where regulation of forex brokers is not required. Therefore, FX brokers operating in these Islands are not subject to any of the strict regulations UK and U.S.-based firms do. They do not have to regularly report to any authority or to conduct audits outside of their offices and companies that are that are registered in the Seychelles are not required to keep client funds in separate accounts, nor to hold a minimum capital to demonstrate their financial stability, or to set up a compensation program when they suffer an insolvency.
Offshore zones are a popular choice for new forex brokers due to the less restrictive regulation of any kind, as well as the lower cost of registration. If, however, you intend to invest large amounts of money, we recommend that you choose between FCA-approved brokerages, US or Swiss ones which have the appropriate financial watchdogs are in the loop and your funds will be secure and safe.
Trading Conditions
Minimum Initial Deposit
The minimum amount required to open an account at ProfiForex is only $1, which is a symbolically low amountthat is reasonable given the absence of regulations. Contrary to this, ForexBrokerInc, an offshore firm based located in the Marshall Islands, demands $100 from its customers as a starting point.
Average Spreads & Commissions
The broker has Fixed and adjustable spreads which are accessible to both account types. Fixed spreads can be as high as 2 pips for EUR/USD and do not charge commissions. This fix spread is regarded as average for markets in forex. For comparison, LiteForex also offers fixed spreads that amount to 2,0 pips on EUR/USD.
Variable spreads on the contrary, can be approximately 0.7 or 0.4 on EUR/USD . They also involve the payment of 0.3/0.6 pip round-turn, and. In essence, variably spread trading fees amount approximately 1 pip including commissions that is a comparatively minimal amount in the market for forex. Comparatively, ForexBrokerInc offers flexible spreads beginning at 1.0 pip on accounts that are commission-free.
For additional details, search for live spreads from fifteen of the top brokers on this page.
Maximum Leverage
Leverage rates that can be used for ProfiForex are extremely high at 1:500. For comparison the an SVG-based OctaFX and ForexBrokerInc each offer the same leverage ratios, whereas LiteForex provides even higher rates which can reach 1:1000. Additional forex brokers with leverage that is equal to or greater than 1:500 may be found here.
We recommend traders exercise cautiously when working with higher leverage levels, as they could not only increase the profits on a tiny amount of money, but can also cause significant losses in more than the initial investments made.
Trading Platforms
MT4 trading platform and Web terminal, created by Mobius-Trader 5.
MetaTrader 4 is the preferred option for a lot of professionals in trading. It provides everything that a trader could need to know about technical indicators, a sophisticated charting software, a robust back-testing capabilities and a vast selection of Expert Advisors (EAs). The traders can download pre-made strategies or build their own trading strategies and then let the program take over the task.
Here is a list of additional forex brokers that offer the MT4 platform.
Promotions
The broker provides an investment bonus of 50 to 500%. you can use to a limitless amount of accounts.
Methods of Payment
The following payment options are available to customers of ProfiForex Credit/debit card (Visa, MasterCard), Skrill, Bitoin, Okpay, Webmoney, PerfectMoney, Neteller, RBK Money, LiqPay, W1, Yandex Money, QiWi, UnionPay, Boleto and Mobile.
PayPal isn’t available in the moment.
The accepted currencies are EURO, GBP and USD.
Conclusion
ProfiForex offers competitive terms for trading in a variety of currencies and CFDs on the renowned MT4. However, the broker is not licensed.
| Profiforex Summary | |
|---|---|
| Profiforex Details | Information |
| Regulators | |
| Country |  Seychelles |
| Base Currencies | USD |
| Type Of Brokers | STP |
| Trading Platform | Desktop, Mobile, MT4 |
| Established Year | 2007 |
| Website Language | English, Chinese |
| US Clients | |
| Profiforex Spreads | |
|---|---|
| Option | Information |
| Minimum Spreads | 0.2 |
| Commission | |
| Fixed Spreads | |
| Profiforex Payment & Withdrawal Option | |
|---|---|
| Option | Information |
| Acc Funding Methods |  Skrill,  Wire transfer,  Visa Card,  Master Card |
| Acc Withdrawal Methods | Skrill, Wire transfer, Visa Card, Master Card |
| Profiforex Suitable For | |
|---|---|
| Option | Information |
| Publicly Traded | |
| Beginners | |
| Day Trading | |
| Weekly Trading | |
| Professionals | |
| Swing Trading | |
| Profiforex Trading Account Options | |
|---|---|
| Option | Information |
| Maximum Leverage | 1:500 |
| Mini Account | |
| VIP Accounts | |
| Segregated Accounts | |
| Free Demo Accounts | |
| Managed Accounts | |
| Pro Account | |
| Minimum Deposit | 1 USD |
| Islamic Account | |
| Profiforex Trading Services | |
|---|---|
| Option | Information |
| Hedging | |
| News Trading | |
| Scalping | |
| Automated Trading | |
| Indices | |
| Commodities | |
| Forex instruments | |
| CFDs | |
| ETFs | |
| Stocks | |
| Bonds | |
| Cryptocurrencey | |
| Trading Signals | |
| Educational Service | |
| Copy Tradings | |
| Profiforex Contact & Support | |
|---|---|
| Option | Information |
| Telephone No | +2486470181 |
| support@profiforex.com | |
| 24 Hours Support | |
| Support During Weekends | |
| Address | Profiforex Corp.103 Sham Peng Tong Plaza, Victoria, Mahe, Seychelles |
