FutureProfit’s website gives vague statements and incorrect information. Therefore, we decided to check and discover the truth.
Before depositing your hard-earned money with this platform, ensure to read our detailed FutureProfit review. It’ll help you make the big decision.
| Broker status: | Unregulated Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | futureprofit.net |
| Blacklisted as a Scam by: | N/A |
| Owned by: | FutureProfit EU Limited |
| Headquarters Country: | UK/Ireland (allegedly) |
| Foundation year: | 2022 |
| Supported Platforms: | WebTrader |
| Minimum Deposit: | 250 USD |
| Cryptocurrencies: | Available – BTC, XRP, ETH |
| Types of Assets: | Forex, stocks, commodities, indices, shares, cryptocurrencies |
| Maximum Leverage: | 1:300 |
| Free Demo Account: | No |
| Accepts US clients: | Yes |
How Safe Is It to Start Investing and Trading with FutureProfit?
FutureProfit is allegedly based in London, UK, according to its home page. Yet, the Terms and Conditions indicate that the owner is FutureProfit EU Limited, with headquarters in Ireland. This scheme firm went one step further, claiming to be licensed by the Irish Central Bank. They claim to fall under the Irish Compensation Scheme and that clients are fully protected.
Since this type of information is easy to verify, we searched through the Central Bank of Ireland register. As expected, FutureProfit EU Limited is nowhere to be found. Just in case, we searched the FCA databases as well. The outcome was the same.
Additionally, we strongly advise you to avoid the fraudulent brokers EuroInvestec, Novelis Capital, and Invest Kingdom.
Reasons Not to Trust an Unlicensed Broker
Unlicensed brokers are not safe. They are not participants of any compensation schemes, despite false claims made by FutureProfit. They don’t follow regulatory rules and don’t care about fund safety. Their utmost goal is extorting as much money as possible and disappearing.
Is FutureProfit a Legit Broker or a Scam?
FutureProfit trading platform falsely claims to be based in Ireland and regulated by the Irish Central Bank. Negative reviews and low customer index indicate that you should stay away from this fraudster.
What Do Traders Think Of FutureProfit?
FutureProfit falsely presents itself as an Irish-based firm under CBI regulation. Therefore, they hooked on numerous victims eager to invest in the Forex and CFD markets.
Once customers paid the initial deposit, this phony broker ensured to manipulate market prices and show them constant profit. Yet, when they submitted withdrawal requests, their trading accounts were frozen.
If you recognize yourself in this story, it’s important to file a complaint immediately.
FutureProfit Trading Platforms – Available Trade Software
Like many fraudulent brokers, this one also claims to offer a state-of-the-art trading platform. In reality, you will get access to an oversimplified WebTrader. It has basic functions – several charts and indicators, trading history, and asset overview.
If you want to apply any advanced trading strategies or use more features, we advise you to check out MetaTrader. It set its place as the best and most used software due to advanced functionalities such as social and automated trading.
FutureProfit Accounts Overview
If you’re still interested in FutureProfit despite their false license claims, here’s an account type overview.
Besides the leverage and assistance, accounts differ in the number of trading signals, withdrawal time, and access to VIP trading rooms.
FutureProfit Broker – Countries Of Service
Our research has shown that FutureProfit mainly operates in:
- Italy
- UK
- US
- Albania
Besides, we’ve seen ads placed all over the globe since the firm is unregulated and not limited by license restrictions.
Also, avoid the trading frauds BullGeko, Fx24trade, and Aax at all costs! Moreover, before investing, always look into the past of internet trading firms!
FutureProfit Range of Trading Markets
This trading firm gives access to all the most popular markets, including:
- Forex – USD/ILS, GBP/TRY, AUD/JPY
- Commodities – palladium, natural gas, corn
- Indices – AUS200, BE20, IBEX35
- Shares – Facebook, Microsoft, Alibaba
- Cryptocurrencies – BTC, USDC, ADA
What Is Known About FutureProfit’s Trading Conditions?
When choosing a broker, one may focus on the trading conditions. Besides the license, this is an adequate indicator of the broker’s legitimacy. Spread and leverage are the main conditions, and for the latest one, all the major regulators have a cap. Thus, by glancing at the leverage limit, you can already assess the firm.
About Leverage and Spreads
With FutureProfit, the leverage ranges from 1:5 to 1:300. While the initial level is way under the regulatory cap, the highest level is way past it. Both CBI and FCA have a leverage cap of 1:30, indicating that FutureProfit can’t be licensed.
The spread stands at 2 pips for EUR/USD pair. With the industry average being 1.5 pips, we learned that this broker is pricey.
FutureProfit Minimum Deposit and Unfavorable Withdrawal Terms
FutureProfit requires a minimum deposit of $250. It’s higher than most licensed brokers demand, with the average being $100.
As per withdrawals, this broker says that the balance on the clients’ accounts is a gross amount, and the firm will deduct taxes from it. Tax authorities are charging taxes independently, and the brokerage can’t pay them for you. So, the red flag again.
Additionally, a clause states that if you use any payment method other than credit cards and bank transfers, you’re bound by rules of service “including, but not limited to fees and other restrictions.”
Methods of Making a Deposit
The broker allows deposits using:
- Debit/credit cards
- Wire transfer
- Unspecified alternative payment methods
If you decide to invest, we advise using your credit card, as you’re protected by chargeback policies.
Scammed by FutureProfit Broker? – Let Us Hear Your Story
If you’re scammed by FutureProfit, let us know. Our chargeback experts are ready to evaluate your case and help. Don’t let scammers run free. Contact us now to book a free consultation, and let’s fight for what’s rightfully yours.
But What Is A Chargeback?
A chargeback is a bank method of recovering funds directly from the merchant. Since the procedure requires knowledge of various banking systems, we advise you seek help. Contact us immediately, and we’ll assist you as best as possible.