As far as crappy forex trading platforms go, Profit Swiss is at the top of the list. Word from a few members points to a platform that doesn’t deliver on its promise. ProfitSwiss has been nothing but a platform that loses your funds and asks for more deposits. And that’s why a few victims wrote to us asking us to review profitswiss.com. We have to hear your call, and here’s the full PROFIT SWISS REVIEW.
About Profit Swiss
The platform claims to have put clients’ interests first since 2005. According to their about us page, they have been a professional investment outfit for 15 years. Such statements say a lot as they show a strong reputation. What if this is just a false statement meant to drive up sign-ups?
Our in-depth review will help shine a light on the truth. We also will provide insights on some of the best investment platforms. Going for a proven platform guarantees a safe investment environment. And that’s the recipe for a successful investment.
Profit Swiss is far from providing any truthful information on their whereabouts. To this day, no one knows their actual location. All you have is a platform with a Swiss name, and they do this for a reason.
With a Swiss name, the platform looks to originate from Switzerland. The idea is to give users false assumptions that they come from a stable financial background. Most of the members who signed up will disagree with this.
None of them has had the chance to withdraw funds from the platform. And this makes it a huge issue. We feel we must protect the interest of newbie investors. ProfitSwiss is taking advantage of this, and it must stop.
Account Details Profit Swiss
Profit Swiss offers four account types that include Silver, Gold, Platinum, and Diamond. Let’s take a look at each account feature;
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It’s the most basic account and comes with a leverage of 1:200 and a minimum deposit of 1,000 Euros. Mobile trading is allowed as well as using their custom-made trading platform.
There’s a minimum deposit of 10,000 Euros required to start using this account. Some of the features include leverage of 1:500 and a deposit bonus.
You have to make a minimum deposit of 30,000 Euros to start investing with this account. The stand-out features include leverage of 1:750, asset management, and daily analysis. Members also get deposits and yearly bonuses.
The diamond account comes with a leverage of 1:1000 with a minimum deposit of 100,000 Euros. Members enjoy all features under the accounts, including daily signals.
Judging from the accounts, we have a huge issue with the leverage and minimum deposit.
The minimum deposit is way above the standard European set depository amount of 250 Euros.
Are funds safe with Profit Swiss?
With the platform having no documents to prove compliance, we have to question safety. Judging by the high depository amount, there should be a safety net for members. It’s not the case with ProfitSwiss as they don’t provide it.
We expect an investment platform to offer insurance cover for deposits made. It’s not the case with profitswiss.com. Once you deposit funds with this platform, it’s the last you will see or hear from it.
Without a safety net to protect investors, there’s no telling what they do with your deposit. Likely, they don’t even segregate accounts. And that’s a clear violation of investing and trading rules.
What’s to stop them from transferring funds to a personal bank account? In the event of bankruptcy, members won’t get any compensation. That’s why we must shun the use of an unregulated investment platform.
Most regulators are against the issuance of bonuses. These bonuses are traps meant to keep members from withdrawing funds. The platform offering these bonuses have a hidden agenda most of the time.
The platform demands members to pay back the bonus before allowing withdrawals. As a member, you won’t get to withdraw funds if you accept their deposit. You have to deposit the exact amount before any withdrawal transaction can be verified.
ProfitSwiss comes with a custom-made platform that doesn’t offer users any advanced tools. We recommend using MT4, MT5, or SIRIX trading platforms. These platforms are known the world over for providing stable platforms.
With their custom-made platform, members claim it’s unstable and slow at executing trades. Even if you use the MT4 and MT5 platforms, withdrawal is still a huge problem. There’s no need to deposit with such a platform.
Disadvantages of Profit Swiss
The platform uses false information to rope in. Profitswiss.com is a website that has been running for 290 days as we publish this post. We noticed that their IP address is in Berlin, Germany.
There’s no way the platform has over 1 million traders on the platform. It would be the biggest trading platform to gather investors in such a short time. Profitswiss is doing this to try and generate a buzz.
Sadly for them, this review is a buzzkill as we plan to expose the platform. We need to stand strong and expose their false investment platform.
Each account comes with high leverage, which is a risk to members. Regulators in the industry have set 1:100 as the highest possible leverage. You are bound to lose more if you make the wrong trade.
You will be tempted to sign up as the gains look high. With trading, there’s no telling where the prices will go. If you stake high with a leverage of 1:750, you will lose a lot of money. That’s why we recommend regulated entities.
License and Registration of Profit Swiss
Profit Swiss is not a licensed entity, and FINMA can prove it. No records are suggesting that the platform is duly licensed. Even the website fails to mention it, which is a breach of trust from the platform.
Members should know whether a platform is licensed or not before signing up. Without any oversight, it leaves members at the mercy of the platform. A regulated entity wouldn’t be allowed to have such high leverage.
Markets on the platform
ProfitSwiss offers six markets on the platform. These include CFDs, Commodities, Cryptos, Forex, Futures, and Stocks. You can expect to trade with major cryptos as this is a most sought out market.
For those who trade with stocks, the platform offers leading U.S companies. You can expect to trade with the FAANG stocks. Most of the CFDs and commodities are the normal assets you find in a trading platform.
Reaching out to support
On their support page, the platform only leaves a message board. You can leave your comment and email address and expect a response. We don’t condone such support centers, and the platform should offer direct access.
Magdalene Osborn and others have been facing a hard time trying to recover funds from the platform. She had deposited 5,000 Euros and had managed to make a profit of 1,000 Euros.
Her account has 6,000 Euros, and she can’t withdraw the initial deposit. And this is one of the many cases with ProfitSwiss. Complaints have already been lodged with regulators.
We expect regulators to act quickly and ban the use of profitswiss. Our only option is to protect our ardent readers by blacklisting profitswiss.com.
Make the best investment decision and sign up with platforms that offer Coin stalking and Masternoding.
Please feel free to leave a comment or email us with any queries. We would be happy to respond.