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Profitlevel Broker Review: High Risk (Suspected Fraud)

TraderKnows
TraderKnows
05-15

Profitlevel is a Cyprus-registered forex platform. This article assesses Profitlevel's corporate entity, domain registration, regulatory license, staff, trading software, and trade types.

Profitlevel Overview:

According to the information on the Profitlevel official website, the company is registered in Cyprus. The results from the Cyprus Companies Section website confirm the authenticity of the registration information for the company.

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Domain Registration of Profitlevel:

According to Whois domain registration information, the company's official website domain was registered on September 19, 2015, making it over 8 years old.

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Is Profitlevel legit or a scam? Does Profitlevel have any regulatory licenses?

The Profitlevel official website indicates that the company is regulated or authorized by the Cyprus Securities and Exchange Commission (CySEC). Query results from the CySEC website confirm the accuracy of the regulatory or authorization information. However, the CySEC website also states that the company is "under examination for voluntary renunciation of authorization," suggesting that there may be issues with the regulatory or authorization status obtained from CySEC.

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Employees of Profitlevel:

Traderknows did not find corporate personnel information for Profitlevel. This indicates a lack of transparency in Profitlevel's corporate structure.

Trading Software Provided by Profitlevel:

The Profitlevel official website does not display information about the trading software provided to investors.

Online Reputation and Client Complaints:

Traderknows found user comments on other social media platforms regarding Profitlevel, with some users expressing concerns about the reliability of Profitlevel as a broker.

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Trading Products Provided by Profitlevel:

The Profitlevel official website states that the company provides trading products for forex, commodities, stocks, indices, and ETFs. Additionally, the website offers specific information about the covered trading products in forex, commodities, stocks, indices, and ETFs, including spreads, margin ratios, and trading hours. However, specific information about commissions and minimum trade units for the covered trading products is not provided.

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Contact Information:

Investors can only contact Profitlevel through email. However, the Profitlevel website is currently not accessible, which is a common tactic used by fraudulent brokers.

Conclusion:

Profitlevel is suspected of fraud. Although the company's registration and regulatory information displayed on the Profitlevel official website appears to be genuine, the website is currently inaccessible, indicating low corporate transparency. Additionally, there is no information on the trading software provided to investors, and there are numerous negative online sentiments about Profitlevel. As a result, Profitlevel has been flagged as "Suspected Fraud" on Traderknows.

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Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

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The 'Pig Butchering Scam' is a type of financial fraud that originated in Southeast Asia, but has now become prevalent globally. The name stems from the scammers' method of dealing with their victims: similar to raising pigs, they first 'fatten' them by building trust, and then 'slaughter' them by swindling away all their money.

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