According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- 1 USD
- MT4
- Webterminal
- Mobile MT4
- 2005
Our Evaluation of Profiforex
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Profiforex is a broker with higher-than-average risk and the TU Overall Score of 4.34 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Profiforex clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
Brief Look at Profiforex
Profiforex Group is a community of traders with more than three years of trading experience. The Profiforex dealing center was established in 2010. The company is regulated by SIBA.
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Author, Financial Expert at Traders Union
Profiforex provides trading services with access to Forex, cryptocurrencies, indices, and metals via MT4, MT4 Mobile, and Webterminal platforms. It offers Micro and Standard accounts with a minimum deposit of $1, leverage up to 1:500, and instant order execution. The platform also features tight spreads, particularly for EUR/USD, and supports a range of payment methods, including Bitcoin, enhancing flexibility for cryptocurrency enthusiasts.
However, Profiforex is not regulated by Tier-1 authorities, which may concern traders who prioritize regulatory oversight. The withdrawal process has been reported as problematic, with some users facing delays. Therefore, while it offers certain attractive conditions, it may not be suitable for traders who prioritize strong regulatory compliance and fast withdrawals.
Profiforex Trading Conditions
| 💻 Trading platform: | MT4, MT4 Mobile, Webterminal |
|---|---|
| 📊 Accounts: | Micro Account, Standard Account |
| 💰 Account currency: | USD |
| 💵 Deposit / Withdrawal: | Credit Card, WebMoney, Perfect Money, Skrill, Qiwi, Bitcoin,Yandex Money, Dash, UnionPay |
| 🚀 Minimum deposit: | 1 USD |
| ⚖️ Leverage: | 1:500 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 EUR/USD spread: | 0,1 pips |
| 🔧 Instruments: | Forex, Cryptoсurrency, Indices, Metals |
| 💹 Margin Call / Stop Out: | 15%/15% |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Mobile Platforms |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | Instant Execution, Market Execution |
| ⭐ Trading features: | No |
| 🎁 Contests and bonuses: | up to 500% |
Profiforex Key Parameters Evaluation
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Trading Account Opening
To open a trading account on the Profiforex official website, follow the instructions below:
Select your preferred language and go to the “For Traders” section.
Click “Open a Real Account”.
Choose between Standard and Micro accounts.
Choose the Individual account type and fill in the registration form providing your first and last names, email, and a referral code, if available.
Enter your password twice and click “Open a trading account”.
Features of Profiforex’s user account:
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Deposits, withdrawals, and internal transfers;
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Balance and trading history;
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Verification;
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Demo account;
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Information on investment performance;
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Referral statistics;
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Access to the binary options trading platform;
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Tickets for communication with technical support.
Regulation and safety
Profiforex has a safety score of 2.5/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Negative balance protection
- Track record over 20 years
- Not tier-1 regulated
- Not regulated
Profiforex Security Factors
| Foundation date | 2005 |
| Negative balance protection | Yes |
| Verification (KYC) | Yes |
Profiforex is Not a Regulated Broker
Commissions and fees
The trading and non-trading commissions of broker Profiforex have been analyzed and rated as Medium with a fees score of 7/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.
- Tight EUR/USD market spread
- No inactivity fee
- No deposit fee
- Above-average Forex trading fees
- Withdrawal fee applies
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of Profiforex with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, Profiforex’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
Profiforex Standard spreads
| Profiforex | Pepperstone | OANDA | |
| EUR/USD min, pips | 0,2 | 0,5 | 0,1 |
| EUR/USD max, pips | 0,5 | 1,5 | 0,5 |
| GPB/USD min, pips | 0,33 | 0,4 | 0,1 |
| GPB/USD max, pips | 0,8 | 1,4 | 0,5 |
RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
Profiforex RAW/ECN spreads
| Profiforex | Pepperstone | OANDA | |
| Commission ($ per lot) | 3 | 3 | 3,5 |
| EUR/USD avg spread | 0,1 | 0,1 | 0,15 |
| GBP/USD avg spread | 0,1 | 0,15 | 0,2 |
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with Profiforex. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
Profiforex Non-Trading Fees
| Profiforex | Pepperstone | OANDA | |
| Deposit fee, % | 0 | 0 | 0 |
| Withdrawal fee, % | 0 | 0 | |
| Withdrawal fee, USD | 0 | 0-15 | |
| Inactivity fee ($, per month) | 0 | 0 | 0 |
Deposit and withdrawal
Profiforex received a Low score for the efficiency and convenience of its deposit and withdrawal processes.
Profiforex offers limited payment options and accessibility, which may impact its competitiveness.
- No deposit fee
- USDT (Tether) supported
- Low minimum withdrawal requirement
- Minimum deposit below industry average
- Only major base currencies available
- Withdrawal fee applies
- Wise not supported
What are Profiforex deposit and withdrawal options?
Profiforex offers a limited selection of deposit and withdrawal methods, including Bank Card, Skrill, BTC, USDT, Ethereum. This limitation may restrict flexibility for users, making Profiforex less competitive for those seeking diverse payment options.
Profiforex Deposit and Withdrawal Methods vs Competitors
| Profiforex | Plus500 | Pepperstone | |
| Bank Wire | No | Yes | Yes |
| Bank card | Yes | Yes | Yes |
| PayPal | No | Yes | Yes |
| Wise | No | No | No |
| BTC | Yes | No | No |
What are Profiforex base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. Profiforex supports the following base account currencies:
What are Profiforex's minimum deposit and withdrawal amounts?
The minimum deposit on Profiforex is $0, while the minimum withdrawal amount is $1. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact Profiforex’s support team.
Markets and tradable assets
Profiforex offers a limited selection of trading assets compared to the market average. The platform supports 155 assets in total, including 49 Forex pairs.
- Crypto trading
- 49 supported currency pairs
- Passive income with bonds
- Futures not available
- Limited asset selection
Profiforex Supported markets vs top competitors
We have compared the range of assets and markets supported by Profiforex with its competitors, making it easier for you to find the perfect fit.
| Profiforex | Plus500 | Pepperstone | |
| Currency pairs | 49 | 60 | 90 |
| Total tradable assets | 155 | 2800 | 1200 |
| Stocks | Yes | Yes | Yes |
| Commodity futures | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes |
| Stock indices | Yes | Yes | Yes |
| Options | No | Yes | No |
Investment options
We also explored the trading assets and products Profiforex offers for beginner traders and investors who prefer not to engage in active trading.
| Profiforex | Plus500 | Pepperstone | |
| Bonds | Yes | No | No |
| ETFs | No | Yes | Yes |
| Copy trading | Yes | No | Yes |
| PAMM investing | No | No | Yes |
| Managed accounts | No | No | No |
Contacts
| Foundation date | 2005 |
|---|---|
| Registration address | Corner Hutson & Eyre Street, Suite 302, Blake Building Belize City, Belize |
| Official site | profiforex.com |
| Contacts |
Comparison of Profiforex with other Brokers
| Profiforex | Bybit | Eightcap | XM Group | TeleTrade | Vantage Markets | |
| Trading platform |
MT4, MobileTrading, WebTrader | MetaTrader5 | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MT4, MT5 | MT4, MT5, TradingView, ProTrader, Vantage App |
| Min deposit | $1 | No | $100 | $5 | $10 | $50 |
| Leverage |
From 1:1 to 1:500 |
From 1:1 to 1:500 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:500 |
From 1:1 to 1:500 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 0.1 points | From 0 points | From 0 points | From 0.8 points | From 0.2 points | From 0 points |
| Level of margin call / stop out |
15% / 15% | No / 50% | 80% / 50% | 100% / 50% | 70% / 20% | 100% / 50% |
| Order Execution | Market Execution, Instant Execution | Market Execution | Market Execution | Market Execution | Market Execution, Instant Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | Yes | No | No | No | No | No |
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