ProfiForex.com Review

2.079 · 40 REVIEWS

Tim Group Inc.

Updated: Oct 11, 2021 · Visit site  · Is this your company?

ProfiForex is a forex broker. Profi Forex offers the MT4 forex trading top platform. ProfiForex.com offers over 130 forex currency pairs, cfds, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

ProfiForex.com
Attention Amanda from Pietermaritzburg, South Africa.  The FPA is hoping to get a little more information about your review.  Please CLICK HERE.

2020-11-26
Related websites include ForexStart.com

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $1
Established: 2010
Address: Corner Hutson & Eyre Street, Suite 302, Blake Building, Belize City, Belize
Contact: support@profiforex.com
Regional offices:
Regulators:
Prohibited countries: Unknown
Trading platforms: MT4, MobiusTrader 7
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (135+)
Cryptocurrencies: (5+) Bitcoin, Litecoin, Ethereum
CFD: (15+) Gold, Silver, Oil
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
PAMM: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, Bitcoin, Bitcoin Cash, Dash, Ether/Ethereum, LiqPay, Litecoin, Monero, OKPAY, PayPal, PerfectMoney, Qiwi, Skrill, UnionPay, WalletOne, WebMoney, Yandex Money
Withdrawal Methods: Bank Wire, VISA, MasterCard, Bitcoin, Bitcoin Cash, Dash, Ether/Ethereum, LiqPay, Litecoin, Monero, OKPAY, PayPal, PerfectMoney, Qiwi, Skrill, UnionPay, WalletOne, WebMoney, Yandex Money

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2.079 · 40 REVIEWS
Forex Peace Army
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Traders Reviews

CJ,
USA, USA,
Apr 15, 2015,
Guest

Have been a trader for some time. You will see when you review this I have filed against them before and have gotten satisfaction. This time though they seem to be purposefully avoiding executing my withdrawals.

I requested a withdrawal on April 8, 2015 by way of credit card. They claim to initiate withdrawals within 24 hours. I have contacted chat 3 times in the past week and emailed their finance department twice. The chat keep telling me "tomorrow" and finance won't even respond. The withdrawal I did with them on April 4th also took 4 days and I had to contact them twice by chat and one time by email to finance department.

This is becoming a constant irritation. Since I am a US trader, I really have no choice but to deal with them if I want 1:500 leverage with nanolot trading.

My only recourse to get them to do the right thing is to make the complaint here. This seems to be the only way to get them to act on withdrawal requests.

2013-08-21 5 StarsThis review is an update to an earlier review.

After contacting the broker, they resolved all of the problems I listed earlier within 12 hours. It was a server problem and not bad behavior on the broker's part. This broker is actually a great broker I have been with for over a year and they reversed the bad trades and credited my account. I will continue to use them and suggest to others that they should be the broker of choice.

Thanks for everything profiforex customer service! Great Broker!

2013-08-19 1 Star Ever since I began withdrawing from my winning accounts I can only execute trades either by EA or manually at one particular price. When I try to close them it is at only one particular price which is way off quote making all trades big losers. I contact online chat and they tell me to email. What will email help when I have trades I need to immediately close!!! I have been with them almost a year and they appear to no like the fact I am making money and want to sabotage my efforts. I have screenshots of trades with trade numbers and time date stamps to prove this suspicious behavior. This is sad to do since I really liked this broker but I want to warn others about this scam. I am just hoping since I can't close my trades I will have this resolved with them befor they conveniently steal all my money!
 
Deem,
Athens, Greece,
Jan 30, 2015,
Guest

Looks good until news* announcements; that's the time the spreads increase 10000 (!, ten thousand) times, enough to blow your account.

*To me, it happened during FED's rate decision on 2015, January 28.
 
SFXIS,
New York, USA,
Dec 19, 2013,
Guest

Withdraw password did not work. Contacted them, received two email responses with links on how to reset it. Reset, said withdraw is processing and will take place soon (forget the exact time they said it would but it was to take place in the near future). Received funds in my designated account as promised. For US residents, I would like to write that I had this is the only issue I had with them and it was seemlessly resolved. Consider this broker for your trading.
 
Ana Wu,
Hubei , China,
Jul 3, 2013,
Guest

I have traded with profiforex for 4 months after a bad experience from one these ridiculous brokers. I think I am beginning to get back on my feet gain. I prefer this broker, especially their web-based platform as I am not much of an MT4 guy. Theirs is really working fine for me. Well, I can’t really find any fault with this broker, but one thing I do know is that brokers aren’t your friends. As long as I get the quality services profiforex offers at a cheaper rate, which they do, I’ll let them make their profit. Highly recommended!"
 
Andrew Chin,
ShenYang, China,
Jun 27, 2013,
Guest

This is my first review of this broker. I started with their demo platform back in November 2011 and open a dollar account in February 2012. I am sure of two things when trading on this platform and that is fast execution and no requotes. Every other things like withdrawals and customer support gets a 4.5 star rating.
 
Rafael,
, Spain,
Jun 22, 2013,
Guest

They have returned me my initial capital, the welcome bonus and half my gains... it's something.

2013-06-16 1Star This broker is a scam, after one month trading and winning with them, when I tried to withdraw the gains they changed all my trades, they've stolen all the gains and all the money I put in there.

This is the bull*** they have sent to me:

You have received this message because our software while analyzing your 158105 account has detected the deals executed on non-market quotations. Your trading system is based on the imperfection of Instant Execution mechanism. Let us remind that on real forex there is “Market Execution” and according to our Client Agreement we reserve the right to rewrite your deals in accordance with the quotations that actually existed in the market at that time. According to our Client Agreement the deals are rewritten according to the tick quotations of Dukascopy (Swiss Forex Bank). You can find the charts to each deal below. Please note that you can download the tick quotations of Dukascopy from their website www.dukascopy.com and check everything by yourself.
 
ABc,
Australia, Australia,
Jun 19, 2013,
Guest

Big fat scam.

You can open an account without ID? Thats even against BVI law. What a joke. Stay away
 
Gbenga Frank,
Abuja, Nigeria,
Jun 4, 2013,
Guest

This broker allows people from all countries. I wanted to register with a US or UK broker, but there were some restriction. Profiforex offers even better trading condition than many of them. I am very happy with my trading experience and I hope they keep up the good work.
 
Yin Peter,
Shanghai, China,
Apr 23, 2013,
Guest

I have been trading on their platform for about a month now. I am really impressed. My best strategy is scalping and their execution speed and low spreads is make things a lot easy. There has never been any withdraw delays. I am happy with this broker.
 
Radim,
, Czech Republic,
Feb 11, 2013,
Guest

This brokers is doing everything to repel all traders elsewhere .
They are changing the rules in agreements and websites as much as they liked to.
They even tried to make a deal with profitable traders to share their systems and cooperate on cutting out the middle liquidity and bridge providers . They are bunch of absolute amateurs and they own us good chunk of money. I advise anyone against openning account with them !
We have even passed these issues to their regulators, which i believe had no idea Profiforex doing business as FOREX broker. We will work hard to keep such brokers out of business
 
rustan mallari,
manila, Philippines,
Feb 6, 2013,
Guest

"I'm updating my review that I left on 2013-01-18

first month with them was all good i almost double my account through scalping then after a week they emailed me and saying they changed my account to 5 digit quotation. then i went to there customer support to ask why did they changed it. they said it was changed because my trades are less than 1 minute and my account should be a 5 digit quote so i can trade again '1 minute trades'. then all went back to normal i continue trading with them

then after a month it was morning when i opened my account i saw my balance to $-8464.68 i immediately contacted the support and they told me that they removed all the my less than 1 min trades(WINS) and telling SCALPING and less than 1 min trades are not allowed and im violating their client agreement etc etc ..

Our Email Convo About the $-8464.68

03.12.2012, 09:11, "myname" :
Hi
can you please check my account why it s now below 0 and with a balance of -8464.68

my account number is 289579

Sincerely,
myname
----------------------------------------------

From: "finance@profiforex.com" <finance@profiforex.com>
To: myname <myemail@yahoo.com>
Sent: Monday, December 3, 2012 5:35 PM
Subject: Re: Balance -8464.68

Dear myname,

A lot of violations of our Client Agreement were detected on your trading account: deals less than 1 minute on 4 digit quotations, for example: 54014829, 54014872, etc.

Deals less than 1 minute on 4 digit quotations are not allowed according to the Client Agreement:
http://www.profiforex.com/data/doc/P...Agreements.pdf

These deals less than 1 minute on 4 digit quotations were cancelled on your account (according to the Client Agreement, item 8.1) that is why the balance changed as the result.
Your further questions are welcome!

Kind regards,
Victoria Rouvali
Account Service Manager
Profiforex Corp.
Profiforex Dealing Center
-----------------------------------------------------

03.12.2012, 17:36, "myname" <myemail@yahoo.com>:
"Deals less than 1 minute on 4 digit quotations are not allowed"

-the last time i had a conversation with your support is that your allowing me to scalp less than 1 minute and you even changed my account to a 5 digit quotation and currencies turned to EURUSDv and like that....
Sincerely,

myname
--------------------------------------------------

From: "finance@profiforex.com" <finance@profiforex.com>
To: myname <myemail@yahoo.com>
Sent: Tuesday, December 4, 2012 2:36 AM
Subject: Re: Balance -8464.68

Dear myname,

Yes, scalping and less than 1 minute deals are allowed on 5 digit quotations (with suffix "v", as you said "EURUSDv") but are not allowed on 4 digit quotations.

Only such deals on 4 digit quotations were cancelled, nothing was done with 5 digit quotations.

Kind regards,
Victoria Rouvali
Account Service Manager
Profiforex Corp.
Profiforex Dealing Center
-------------------------------------------------

04.12.2012, 05:03, "myname" <myemail@yahoo.com>:
my account is a 5 digit quotation. so what is the problem with that?

Sincerely,

myname
-----------------------------------------

From: "finance@profiforex.com" <finance@profiforex.com>
To: myname <myemail@yahoo.com>
Sent: Wednesday, December 5, 2012 8:31 AM
Subject: Re: Balance -8464.68

Dear myname,

There are absolutely no problems with your orders on 5 digit quotations, but before this you were also using 4 digit quotations for trading. There are violations.
Please look at the statement of your account (attached). There you can see comments "Less than 1 min, cancel" - these are the comments to deals on 4 digit quotations that you made, less than 1 minute and violating our Client Agreement.

Kid regards,
Victoria Rouvali
Account Service Manager
Profiforex Corp.
Profiforex Dealing Center
-------------------------------------------------

05.12.2012, 06:13, "myname" <myemail@yahoo.com>:

HI
About the less than 1 min trades i was already informed back then by your support about the violation of 1 min trades that is why you changed my account to a 5 digit quotation, so i thought it was already fixed and im allowed to trade again. but Now after 1 month you are questioning my trades again?

Sincerely,

myname
--------------------------------------

Dear myname,

We are not questioning your trades, we have processed violating trades (less than 1 minute on 4 digit quotations) according to the Client Agreement because it wasn't done before.

Kind regards,
Victoria Rouvali
Account Service Manager
Profiforex Corp.
Profiforex Dealing Center

END OF CONVO

-----------------------------
we had a exchange of emails about what happen but i surrendered with it because they are like making a joke with me. i just let them took all my winnings and even my deposit . bec whatever explnation i made i think they will not giveback even at least my deposit

and this morning i received an email again about my review & rating in profiforex

START----------------------------

Dear My name,

We have noticed your review on Profi Forex | ProfiForex.com reviews and ratings by Forex Peace Army .
We have already contacted FPA before regarding such issues and they offered two variants to solve it.

The first variant is that you update your review: write the truth and apologize for incorrect description of the situation.

The second variant is that we will have nothing to do, but publish all the correspondence with you and your account statements as a proof of the real situation.

Also, we're going to consult with lawyers what measures should we take to solve the issue with this slander/libel.

Please let us know today which variant seems to be better for you.

Thanks and regards,
Victoria Rouvali
Account service manager
Profiforex Corp.

END----------------------------------------------------

So here is my revise Review of Profiforex and i think theres nothing wrong with putting a review of my experience about a broker.

so i just had to put this review and revise my old one so everyone will know my experience in trading Profiforex.

My Forum Topic about profiforex with detailed statement here http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/23571-profiforex-issue.html

2013-01-18 1 Star first month with them was all good i almost double my account through scalping then after a week they emailed me and saying they changed my account to 5 digit quotation. then i went to there customer support to ask why did they changed it they said it was changed so i can trade scalping and less than 1 min trades. then after a month it was morning when i opened my account i saw my balance to $-8000.00 ++ i immediately contacted the support and they told me that they removed all the my less than 1 min trades(WINS) and telling SCALPING and less than 1 min trades are not allowed etc etc .. very terrible broker!! they should tell me in the first month and not wasting my time..
 
Stephan,
London, United Kingdom,
Jan 23, 2013,
Guest

Everything went fine for a few days, then suddenly my stoplosses weren't honoured, slipped a lot in their favour. Many of my pending orders were suddenly "Cancelled by Dealer" Then all profitable trades cancelled when I wanted to withdraw.
 
Michael Epps,
Lithonia, GA, USA,
Dec 29, 2012,
Guest

This broker is an excellent broker I've been with them for 2 years and no problems.
 
Steve,
New York, USA,
Aug 9, 2012,
Guest

I have been trading with them for about two months now and have had no issues whatsoever. Did one small withdrawal on my cent account that I opened with $1,000 and Money was sent to PayPal almost immediately. Only the test of time will tell. I hope they can keep it up.
 
Trinity Castle,
Indiana, USA,
Jun 28, 2012,
Guest

UPDATE: They finally did explain why they removed the $700 from my balance. They rewrote my winning trades using Dukascopy data stating that their price wasn't correct when I entered the trades. Hmmm, I thought I was trading with ProfiForex not Dukascopy! LOL! If this is the case, the manipulate the price all they want to get your trades to do whatever they want them to do. I do not recommend using Profiforex to anyone! The only reason I am still using them is so I can trade Pico lots with my Martingale Strategy, but I suspect that if that becomes too profitable they will find a way to cancel my winnings within some part of their "Trader Agreement". Don't give them your money.

2012-06-19 1 Star They removed over $700 from my balance with no explanation in the transaction history. They are completely a scam if you start to make money! STAY AWAY!
 
Reply by Tom Aldridge submitted Jul 10, 2012:
This is widely known that Profiforex is one of the authoritative companies, which forward your deals through banks to the interbank market and, of course, we cannot provide quotations that would differ from bank quotations, however, at a certain moment the quotations may be delayed by 0,2-0,5 seconds. This is caused by data transmission delays, incurred when using Internet channels. As a consequence, if the person, who trades only during strong market moves, uses expired (outdated) quotations, the server may execute his order, using the quotation, which has already expired. In this case we can say that this person trades on server?s errors. This is why we can cancel clients' trades if they last under a minute, just because they do not trade on real Forex, but, on the contrary, they trade within the server (as during sharp market moves due to the aforementioned delay we may fail to forward his order to the interbank market). And, of course, this claim has been generously seasoned with obvious lie. Now we would like to give some comments and the clear and objective view on the situation with Trinity Castle. The client makes numerous violations of our Client Agreement on his account. The violations mostly include deals less than one minute and using ?arbitrage trading strategy?. Speaking of those $700 ? this was the result of canceling deals less than one minute and rewriting deals on gaps according to the first quotation after gap (our quotations, not Dukascopy). All in accordance with our Client Agreement. This is not clear why the client says that the deals were rewritten in accordance with Dukascopy quotations. In order to standardize the process of managing complaints the following is written in our Client Agreement: ?The prices on the Forex market are considered to be prices that are presented by the world banks. Generally, the Client has the right of complaint using Dukascopy or Saxobank quotations.? (But of course the client can write a complaint using the quotations of any world bank. This is a kind of guarantee that we will never add any fake quotations in order to close the client?s deal according to his/her Stop-Loss). When the deals were being rewritten/cancelled, the comment to each deal was left, so the client could see it in his account statement immediately. Here we represent the correspondence with the client showing also that the answer to his question about ?deduction of $700? was given within 4 hours after receiving his e-mail: Trint Castle 19 June, 17:40 GMT I need a legitimate explanation as to why you have deleted over $700 worth of profit from my account with no explanation and no record. Even the MT4 history has been altered to hide that you removed those winning trades from my account. Regards, Trint Castle --------------------------------------------- Profiforex Financial Department 19 June, 21:46 GMT Dear Trint Castle, Thank you very much for your e-mail! All the changes made in your deals are accompanied by comments to these deals. You can check all this in your account history. For example, the following deals were made on gaps and according to the item 8 of the Client Agreement they were rewritten and the comment was left: 12508971 Changed: open pr.1.5535->1.5531 12508968 Changed: open pr.1.5535->1.5531 12508965 Changed: open pr.1.5535->1.5531 Those deals, that were less than one minute have the following comment: Cancel: less than 1 min -- Kind regards, Victoria Rouvali Account Service Manager Profiforex Corp. ------------------------------------------------- Trint Castle 19 June, 21:50 GMT There are no comments whatsoever in my account history. What do you mean they were made on "gaps" You have only noted 3 tickets what about the other several dozen that disappeared? I have reported this to Forex Peace Army scam investigation. -------------------------------------------------- Profiforex Financial Department 19 June, 21:59 GMT Dear Trint Castle, Sure, we are willing and will be happy to provide forexpeacearmy with any information they want about your account. In order to look through the comments to your deals please do the following: Login to your trading account and in the "Terminal" window that it below the charts window go to the tab "Account History". Right click in that tab and choose "All History" from the context menu. After all the history is shown in this tab again right click in this tab and choose "Comments" from the context menu. Then the comments to every your deal will appear and you'll be able to read them. Please not that we are working according to the Client Agreement that you have accepted when you were opening your trading account. We are sorry if our trading rules do not fit your trading strategy. -- Kind regards, Victoria Rouvali Account Service Manager Profiforex Corp. -------------------------------------------------------- Trint Castle 19 June, 22:07 GMT Rest assured I know how to view all my account history. There used to be comments showing that trades were canceled for less than 1 minute, but those comments are not there now. However, these comments do still show up in MyFXBook, so I know they were there. :-) This proves that you have deleted history from my account, which does not fall under the client agreement. Many of the profitable trades lasted several minutes and so I'm not sure how you can say they were gaps or less than 1 minute. ---------------------------------------------------------- Profiforex Financial Department 19 June, 22:16 GMT Dear Trint Castle, The comments are within your deals. Those deductions of "Less than one minute" deals are shown as zero profit within your deals with appropriate comments. You can thoroughly check everything, deal after deal and in case you do not agree with the resulting balance send us a complaint. About gaps you can see our quotations or quotations of Dukascopy. And of course, you should have some account statements saved before today so you can check everything. -- Kind regards, Victoria Rouvali Account Service Manager Profiforex Corp. ------------------------------------------------------- Trint Castle 19 June, 22:38 GMT I see them now. However, I didn't realize I was trading with Dukascopy. I thought I was trading with Profiforex. My mistake. I guess I will just go trade with Dukascopy since you do not seem to want profitable traders. :-)
871036,
, Japan,
Apr 18, 2012,
Guest

The trade for less than 1 minute breaks.
It is the same as prohibition of scalping.
Most profits are canceled.
The response of a server is wonderful.
Order 0.5-second closing 0.5 second.