Profitable Trade is a platform offering Contracts for Difference (CFD) trading, covering a wide range of instruments such as forex, stocks, indices, futures, precious metals, energy, and cryptocurrencies. According to information on its official website, the platform claims to be a UK-registered company with extensive financial trading experience. However, after verification, it appears that there is no genuine company backing the platform, and the company registration information provided is inconsistent.
Company Background
The official website indicates that the company is registered in the UK under company number 12876342 and claims to have 23 years of financial trading experience.
However, a search through the UK Companies House records shows that company number 12876342 belongs to PEANY LTD, which was dissolved on October 25, 2022. Additionally, the company's registration certificate displayed on the website has the number 13786342, corresponding to WHITCHURCH MEDIA CONSULTANCY LIMITED, which was also dissolved on September 19, 2023.
Moreover, the "ABOUT US" page on the website states that Profitable Trade was registered in Australia in 2013. However, this piece of company history was actually copied from the broker TMGM's website.
Trading Instruments and Platform
Profitable Trade provides CFD trading on a variety of financial assets, including forex, stocks, indices, futures, precious metals, energy, and cryptocurrencies. However, the official website does not specify which trading software is available; users can only trade through its web-based proprietary system, with no mention of support for mainstream platforms like MT4 or MT5.
Account Types
Profitable Trade offers four account types: BRONZE PACKAGE, SILVER PACKAGE, GOLD PACKAGE, and PREMIUM PACKAGE. The minimum deposit requirements for each account are as follows:
- BRONZE PACKAGE: Minimum deposit of $500, up to $9,999, provides full IT support, allows hedging, and supports referral bonuses.
- SILVER PACKAGE: Minimum deposit of $10,000, up to $29,999, offering the same services as the BRONZE PACKAGE.
- GOLD PACKAGE: Minimum deposit of $30,000, up to $114,999, services are the same as the previous two.
- PREMIUM PACKAGE: Minimum deposit of $115,000 with no maximum limit, offers long-term investment plans, and the same services as other accounts.
Trading Conditions
Profitable Trade claims to offer spreads starting from 0 points and supports up to 1:500 leverage. The minimum deposit is $500. However, the website does not list clear deposit and withdrawal methods nor the processing time and related fees.
Regulatory Information
The website claims to be regulated by the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (FSC).
However, verification reveals that the Australian entity “Profitable Trade Australia Pty Ltd” and its license number 436416 actually belong to Trademax Australia Limited under TMGM. Similarly, the Vanuatu regulated entity “Trademax Global Limited” is also under TMGM.
Company Address and Members
The platform's official website lists the company address as “71-75 Shelton Street, Covent Garden, London United Kingdom.” However, a search on the UK Companies House database shows no record of Profitable Trade registered at this address. Furthermore, the website does not disclose any company members, and there is no publicly available information about employees related to this company.
Website Information
The domain for Profitable Trade's website is profitabletrade.online. According to Whois, the domain was registered on September 24, 2023. Moreover, the Semrush data shows that the website has a monthly visit average of fewer than 100, indicating almost no user activity on the platform.
Notably, the website's design template is similar to several other suspected scam platforms like ecointradingfx, Pennystocksmarket, and fxtrade.capalliance. These platforms all utilize a similar site framework, lack uniqueness, and appear to be mass-produced.
Agency Policy and Educational Resources
Profitable Trade does not provide any agency cooperation policy or any trading educational resources or market analysis content on its website.
User Reviews and Brand Exposure
There are no user reviews or news reports related to Profitable Trade available on public networks, nor is there any market analysis content related to the platform.
Contact and Social Media
The platform only offers an email ([email protected]) as a point of contact and does not have any official accounts on mainstream social media platforms such as LinkedIn, Facebook, Instagram, Twitter, or YouTube, leaving a significant gap in customer interaction.
Risk Report
Based on the information above, there are several suspicious points regarding Profitable Trade's operations, including the following main risks:
- Dubious Company Entity: The company's claimed registration number does not match actual records, and the company names associated with the registration numbers have been dissolved.
- Inaccurate Regulatory Information: The regulatory licenses provided on the site belong to other brokers, not owned by Profitable Trade, indicating a lack of independent regulatory support.
- Opaque Trading Software: The website does not offer mainstream trading software like MT4 or MT5, relying solely on a web-based trading system, posing uncertainty in the trading environment.
- Funding Security Concerns: Deposit and withdrawal methods are not disclosed, nor are related transaction fees, suggesting potential difficulties in fund withdrawal or management risks.
- No Record of Company Address: UK Companies House search results show no registration record for the address listed on the website.
- Lack of User Reviews: There are no online user reviews or market exposure, leading to low transparency.
- Extremely Low Website Traffic: The site receives less than 100 visitors per month, indicating very low actual platform usage.
- Shared Template with Suspicious Sites: The website's design is identical to multiple known suspicious platforms, lacking uniqueness and suggesting mass production.
- Absence of Company Member Information: The website does not provide company member details, and publicly available data does not verify the actual operating team.
In conclusion, there are several questionable aspects related to Profitable Trade's corporate background, regulatory information, and fund security concerns. Investors should exercise extreme caution when considering using this platform.
