Trade Profit World is a forex trading platform that claims to offer high returns on investment. However, there are a number of red flags that suggest that Trade Profit World is a scam.
Overview, Team, and Mission
Trade Profit World is a relatively new forex trading platform that was launched in 2022. The company claims to have a team of experienced traders who use artificial intelligence to help clients make profitable trades. However, there is no information available about the team members or their qualifications.
The mission of Trade Profit World is to “democratize forex trading and make it accessible to everyone.” However, the high minimum deposit requirement of $2500 makes it clear that Trade Profit World is not targeting the average retail trader.
License and Regulation Status
Trade Profit World is not licensed or regulated by any financial authority. This is a major red flag, as it means that there is no government oversight of the company. This leaves investors with no recourse if they lose money trading with Trade Profit World.
Warnings Against Trade Profit World
There have been a number of warnings issued against Trade Profit World by financial authorities and consumer protection organizations. The Australian Securities and Investments Commission (ASIC) has warned investors that Trade Profit World is not a legitimate forex trading platform. The Financial Conduct Authority (FCA) in the UK has also issued a warning against Trade Profit World.
Currency Pairs Available for Exchange
Trade Profit World offers trading in a limited number of currency pairs. These include EUR/USD, USD/JPY, GBP/USD, and AUD/USD. The spreads on these currency pairs are relatively high, which means that traders will pay more to enter and exit trades.
Withdrawal Policy and Method
Trade Profit World has a withdrawal policy that is very restrictive. Traders must have a minimum balance of $1000 in their account before they can request a withdrawal. The withdrawal process can also be slow and cumbersome.
Previous Traders’ Reviews
There are a number of negative reviews of Trade Profit World online. These reviews allege that the company is a scam and that investors have lost money trading with them.
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