Forex trading arouses the interest of both traders and scam brokers luring them into investing and ripping them off. Pretending to be a legitimate business is just one of many dirty tricks frequently employed by fraudsters.
In a similar fashion operates today’s broker in our article. Namely, Profits Vision claims to be registered in one of the top markets, Switzerland without producing any proof. Not to mention that this shady brokerage firm doesn’t hold any required licenses and regulations. On top of that, several financial authorities warn against this financial swindler.
Thus, please proceed with our Profits Vision review and get more information about its below-average offerings.
On the top of that, we seriously recommend you not to invest in the fake brokers The Liberty International, UF Solution, and Solar Markets. Do not trade with these unlicensed brokers if you want to save your money!
| Broker status: | Unregulated Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | profitsvision.com |
| Blacklisted as a Scam by: | FSMA, CNMV, CONSOB |
| Owned by: | N/A |
| Headquarters Country: | Switzerland |
| Foundation year: | 2022 |
| Supported Platforms: | MT4 |
| Minimum Deposit: | 250 USD |
| Cryptocurrencies: | Yes, Bitcoin, Ethereum, Cardano |
| Types of Assets: | Crypto, metals, indices, stocks, energies, forex |
| Maximum Leverage: | N/A |
| Free Demo Account: | No |
| Accepts US clients: | No |
Reasons Why Profits Vision is An Unregulated Scam Website
When googling the name of this phony broker, you can come across many positive Profits Vision reviews. Of course, this is far away from the truth. In reality, these reviews are false. Broker scams use this malicious tactic to make their services more appealing and hide their true colors.
In this instance, the real face of Profits Vision has been exposed by major watchdogs, the Belgian FSMA, Italian CONSOB, and Spanish CNMV. This means that this forex provider operates illegally without being licensed by any supervisory bodies. Likewise, it is reportedly headquartered in Switzerland, which is one of the most stringent jurisdictions regulated by FINMA. As you can guess, Profits Vision is not authorized by this financial market regulator or any other.
Profits Vision is allegedly based in Switzerland but doesn’t have any evidence of it. Moreover, it is not authorized to operate in this or any country. Besides that, it is blacklisted by several major watchdogs. In addition to this, it renders subpar trading services. In general, avoid this fraudulent broker like the plague.
Why Is Trading On a Licensed Broker’s Platform Preferable?
So, why risk losing money to an anonymous entity like the Profits Vision broker, when you can enjoy funds protection, a favorable trading environment, and coverage against adverse events with legitimate brokerage companies?
Forex brokers certified and supervised by the Australian ASIC, German BaFin, and British FCA are most sought after because of their reliability and security. For example, these companies keep their capital separate from your money (segregated funds) in tier-one banks.
On top of that, traders are protected by negative balance protection (you can’t lose more than deposited) and compensation schemes that go up to 100,000 USD.
Fraud Warnings From Financial Regulators
As mentioned, instead of being listed among certified brokers, Profits Vision has been put on a list of scammers by the following authorities.
- Spanish CNMV (Comisión Nacional del Mercado de Valores) is the main supervisory body in Spain and has issued a warning against the Profits Vision scam.
- Italian CONSOB (Commissione Nazionale per le Societa e la Borsa) regulates the Italian foreign exchange market and has blacklisted Profits Vision.
- Belgian FSMA (Financial Services and Markets Authority) is a government agency monitoring and controlling the securities market of this country. It has also affirmed that Profits Vision is a fraud.
Profits Vision Offers Safe Trading Software?
When it comes to trading platforms, among the best are MetaTrader 4, MetaTrader 5, cTrader, and Sirix. Both beginners and experienced traders appreciate a wide range of advanced features that are an integral part of these programs, such as copy trading, fast execution, unlimited pending orders, stop loss, and automated trading.
For the sake of drawing your attention, this unscrupulous broker gives empty promises of the availability of MT4. This is just a decoy and a big fat lie. Investing with Profits Vision will put your funds on the line.
Mobile App for iOS and Android
Nowadays, there are over five billion users of cell phones. Therefore, enabling mobile trading is a must to be competitive. Leading brokers fulfill the demand by providing modern trading platforms like MT4 and MT5 since they are accessible from desktops, smartphones, and tablets. They can be downloaded from Google Play and Apple Store, enabling safe and convenient trading anywhere. With reference to the mobile trading app at Profits Vision, as indicated, MT4 or any similar software is not available here; thus, forget about mobile trading with this bogus brokerage company.
Profits Vision Range of Trading Markets
Regarding trading instruments provided by Profits Vision, keep in mind that fraudsters always promise a wide range of tradable assets at the best terms just to entice you. Allegedly, this fake broker enables traders to access the most popular markets and trade on the following products.
- Crypto: Bitcoin, Ethereum, Tether;
- Commodities: metals ( gold, silver, aluminum), energies (crude oil, natural gas), and soft commodities (rice, silk, cotton);
- Indices: S&P500, NASDAQ100, DAX30;
- Stocks: Tesla, Nike, Microsoft;
- Forex: USD/GBP, AUD/CAD, EUR/CHF.
No matter what Profits Vision offers, it can’t be trusted since it is a proven scam. Hence, we strongly advise ignoring its offerings and seeking credible FX brokers.
What Do We Know About Profits Vision Account Types?
In relation to trading accounts, there are several versions of paid/real ones with this fraudulent broker. As predicted, there is no demo account. This option allows traders to practice trading for free and test the trading environment (conditions and platforms) without risks. Since con artists can’t cash in on it, they rarely offer demo accounts. Unlike them, a demo account is the base of every offer from genuine companies. As regards Profits Vision and its live trading accounts, here is a quick overview.
- Explorer: minimum deposit of 500 USD
- Basic: minimum deposit of 2,500 USD
- Silver: minimum deposit of 10,000 USD
- Gold: minimum deposit of 50,000 USD.
As can be noted, you have to put in 500 USD to start trading with Profits Vision. This is a too-high opening balance when compared to the industry norm. Taking into account the reputation of this broker, it is not worth the risk. For instance, you can open a live trading account for 10 USD with a leading brokerage company.
Managed Account Types
In addition to real trading accounts, Profits Vision provides managed versions of them. Before outlining them, let’s first explain what it means by a managed account. It is nothing more than trading in your name. Investing a minimum of 75K USD is per se a risk. Not to mention how risky is to authorize this untrustworthy company to handle trading on your behalf. Moreover, this crooked firm charges fees for its so-called advisory. Here is an overview of managed accounts at Profits Vision.
- Fisrt type: investment starts at 75,000 USD, annual advisory fee 0.95% – 1.35%;
- Second type: investment starts at 150,000 USD, annual advisory fee 1.5% – 2.5%;
- Third type: investment starts at 250,000 USD, annual advisory fee 0.5% – 0.90%.
Profits Vision – Countries Of Service
If you wonder where Profits Vision operates, don’t forget that it is an unauthorized brokerage firm. According to feedback from victims, it can be concluded that this dishonest scam broker is focused on scamming traders from
- UK
- Canada.
If you are based in any of those countries and come across this company’s offer, regardless of how it might look compelling, please ignore it. Bear in mind that brokerage services operating in the UK and Canada must be approved by the FCA (Financial Conduct Authority) and IIROC (Investment Industry Organization of Canada).
Also remember the names of the Everrise Brokers, Capital Markets Strategy Ltd and Keler Group trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
Bonuses and The Terms of Their Receipt
Be mindful and wary of bonuses coming from unlicensed brokerage companies. They use a range of generous promotions in deceitful ways to attract people’s attention and defraud them. Actually, bonuses always have absurd terms to prevent you from redeeming and withdrawing them.
On top of that, illicit brokers like Profits Vision retain the right to change conditions at any point without notice. For this reason, many jurisdictions and financial regulatory bodies have forbidden bonuses and promotions.
What Is Known About Profits Vision’s Trading Conditions?
On the account of the Profits Vision trading conditions, they are good as this false company. Two things are in common for scammers. First, they misrepresent their terms of exchange to look more beneficial and appealing. Second, they are not transparent about it, giving them room for manipulation.
As for the Profits Vision trading environment, there is very little information. For example, the leverage ratio is not revealed, but we are sure it is above the permitted (1:30 in the EU). Spreads are also unknown but expect something like zero or ultra-low spreads (again, pure fabrication). Lastly, trading costs are also unannounced so that they can be charged at the whim of this broker.
Minimum Deposit, Withdrawal Terms, and Fees
Speaking of the minimum deposit at Profits Vision, it is either 250 USD (as per its FAQs section) or 500 USD (accounts page). Providing inconsistent information is so typical of scam brokers. Concerning funding methods accepted by this company, its multiple deposit option remains questionable. We doubt that it supports secure forms of payment like credit cards and wire transfers.
By contrast, it accepts unsafe and anonymous crypto wallets because they are almost irreversible. All things considered, withdrawals are unlikely with such an unreliable entity.
Scammed by Profits Vision Broker? – Let Us Hear Your Story
Unfortunate victims of Profits Vision can have relief to know that getting their money back is possible. First, if you are defrauded by this or any investment scam, you should contact the relevant authorities. Likewise, don’t forget to share your negative experience with other traders to help them avoid this trading scam. About regaining funds, continue reading.
But What Is A Chargeback?
The chargeback enables you to retrieve your stolen money. For example, major credit and debit cards (VISA and Mastercard) allow you to recover your funds but you must apply for cashback within 540 days. On the other hand, if deposited money via bank-to-bank transfer, you are not eligible for a refund. However, remember that wire transactions can be canceled until they are confirmed.
The most challenging payment option to charge back is crypto payments. For this reason, financial hustlers prefer them. Nevertheless, with professional help, you can reverse crypto wallets. In connection with this, get in touch with our company.