Profit Markets CFD Review – Far Away From Reliable Broker

Looking for a decent broker in Europe is just getting harder and harder every day. There are too many companies that are prepared to fake everything on their website. Consequently, inexperienced traders would fall for fictive details provided.

But if you know where to look for clues, you will stay safe. Hopefully, you are not too greedy as well. Nevertheless, the Profit Markets CFD scam was exposed, and that resulted in the company shutdown.

What About Profit Markets CFD Regulation?

While Profit Markets CFD claims to be owned by FAIR CAPITAL PARTNERS ASSET MANAGEMENT B.V., the truth cannot be any further. This company does exist, and it is regulated by the Netherlands AMF. However, it has nothing to do with Profit Markets CFD brokerage. It operates under the domain faircapitalpartners.nl and runs its own business away from online forex scams.

Also, this particular company has its headquarters in Italy, while Profit Markets CFD gave us an address in Austria. 

Now that we’ve determined that the owner and regulator are false, we can safely claim that your funds are not secure with such an illicit trading firm.

Also remember the names of the SelfKings, GrandTrade and MaxiPlus Trade trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Regulatory Warnings Against ProfitMarketsCFD

In general, scam brokers don’t hesitate even to fake their licenses. Some traders might fall for tricks and that’s enough for them. Luckily, those things are easily discoverable. Of course, if you know where to look.

But when you search for the broker and you see numerous warnings, you know there’s something wrong with them. The domino effect started when CONSOB issued the first warning against ProfitMarketsCFD. The same move was made by FSMA, AFM, CNMV, and IOSCO. After these, it was not surprising the company vanished. Nobody with common sense would invest with them when they see a warning.

Fund Withdrawal Issues

Instead of keeping an image of a legit company until the end, the Profit Markets CFD broker did precisely what all the other similar companies do – failed to process withdrawal requests and actually give investors their money. Since the company is not really regulated, anyone involved in this notorious scheme has nowhere to complain as authority bodies won’t take responsibility for an illegal firm.

Therefore, the best you can do is file a dispute and request a chargeback. Bear in mind that this process can start within up to 540 days after a fraudulent transaction has occurred, so make sure not to let it pass.

In addition, we strongly advise you not to invest in BitcoinWelt and LTMTrade fraudulent brokers. So don’t fall for these dishonest scam brokers!

Traders About Profit Markets CFD Scam

Based on different Profit Markets CFD reviews we’ve come across, traders complain about the withdrawal problems, as mentioned above. Moreover, they have had a negative experience with the company’s Web trader, and depending on the country, they’ve been asked for a different minimum deposit – some of them were asked for $250 while others paid the same amount in EUR.

And, of course, none of them could understand how the company is actually unregulated when they clearly listed AMF and CONSOB licenses on their website.

How Profit Markets CFD and Similar Scammers Lure Victims?

Understanding all the key scamming principles can save you a ton of money. In the case of ProfitMarketsCFD broker, the plan was quite simple. Lure traders with quick-money ads to register and rip them off. They do not hesitate to use celebrities in their promotions, mostly related to crypto trading, algo-trading software, or trading signals.

Once traders join, they constantly get harassed to deposit more and more money. But also, some scam brokers use remote controlling apps like AnyDesk to wipe clients’ bank balances off. Unfortunately, with this firm, most of those victims come from Greece and Italy. If you are one of those, don’t hesitate to contact our refund specialists for consultation.

How Does Online Trading Scam Work

Online trading scams have become more and more frequent during the past couple of years. Using the fact of the market’s high volatility ever since cryptocurrencies showed up and the situation with Covid-19 when investing was the only source of income for some, fraudsters came up with new scamming techniques. It went even further. They started using false licenses and adding up false owners, as the case with Profit Markets CFD. 

If something similar happens, note that you must file a complaint and get your funds back. There’s no reason to let scammers run away with your hard-earned money! Act now, before it’s too late!

Scammed by Profit Markets CFD? – Tell Us Your Story

Suppose you were involved with Profit Markets CFD, and you fell for the scam. You should file a complaint, request a chargeback instantly, and get back what’s rightfully yours.

But What Is A Chargeback?

This is a way for your bank to reverse the transaction. Let us know what happens via online chat, book your free consultation, and let’s find the best money-back solution!