Scheme brokers have discovered a reliable way to avoid regulatory oversight – having a generic name. If you search for Global Profit online, you will get all kinds of news and different information related to these words. Yet, only a few will refer to a trading company. Hiding behind total anonymity, Global Profit defrauded many and vanished. This review will show you the scam step by step.
| Broker status: | Unregulated Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | global-profit.io |
| Blacklisted as a Scam by: | FCA |
| Owned by: | N/A |
| Headquarters Country: | N/A |
| Foundation year: | N/A |
| Supported Platforms: | Sirix |
| Minimum Deposit: | 5,000 EUR |
| Cryptocurrencies: | Available |
| Types of Assets: | Forex, commodities, indices, shares, cryptocurrencies |
| Maximum Leverage: | 1:200 |
| Free Demo Account: | No |
| Accepts US clients: | Yes |
Is Global Profit a Secure And Regulated Platform?
Global Profit is an online trading brokerage without an owner, headquarters, or legal jurisdiction. We were never provided with this information and for a good reason. Global Profit had nothing to say. The firm is probably a shell corporation established offshore or in any Eastern European country, away from any credible regulator. Of course, there’s no regulation, so what could they possibly say? That they’re not regulated but want your money?
How Unsafe Is An Unlicensed Broker?
Unlicensed brokers are quite unsafe with your funds. You have no money-back guarantee, no authority in charge of supervision, and nobody can guarantee you that everything will go smoothly. Global Profit is the best example. The broker vanished with all the funds, and there’s nothing any license provider can do about it.
In addition, we strongly advise you not to invest inXE Prime,AltoFX,andProsperityFXfraudulent brokers. So don’t fall for these dishonest scam brokers!
So Is Global Profit a Scam?
Global Profit was an unregulated scam broker that vanished. The company required clients to deposit 5,000 EUR. Upon having enough funds, they simply shut down the website. The FCA issued an official warning against the brokerage.
Traders’ Experience With Global Profit
The trading company has a poor rating on Trustpilot, with 2.3 stars. The website itself issued concerns about Global Profit’s legitimacy due to a regulatory warning.
Here’s an example of traders’ reviews.
“100% SCAM
1. They will lure you to put money into their account
2. You wont able to get your money out because they already run with your money
3. They will closed their website and you wont able to contact them again.
Very simple strategy.”
– Trustpilot Customer
GlobalProfit Offers Sirix Platform Provided by A Third-Party Scam
Global Profit has one trading platform – Sirix WebTrader. While it’s the best web-based software on the market, with probably the largest number of trading tools, here’s the issue. The platform itself belongs to DigitalCmedia, another scam broker. Whether these two have the same owner or just collaborate, exposing your funds to two scam brokers is even worse than dealing with only one.
If you want to start investing, we advise you to find a regulated firm with MT4 or MT5.
All About Global Profit Accounts
The broker offered 5 different accounts, including:
- Green Trading Account – 5,000 EUR
- Premium – 10,000 EUR
- Platinum – 25,000 EUR
- Executive – 50,000 EUR
- Presidential – 100,000 EUR
The main difference was spread, leverage, and other trading perks.
Global Profit Broker – Countries Of Service
According to our research, the broker mainly operates in:
- Portugal
- Belgium
- UK
- Ireland
Global Profit Range of Trading Instruments & Markets
While active, the broker was offering access to all five major markets, including:
- Currency pairs – EUR/USD, GBP/CHF
- Commodities – gold, oil, natural gas
- Indices – NASDAQ, Dow Jones, S&P500
- Shares – Amazon, Apple, Google
- Cryptocurrencies – BTC, ETH, XRP
So, it would help if you avoided Invest Flow forex broker and similar brokers such asMETAfmi,SoltechxandVNSmart.
Customer Support – Communication Channels
Global Profit had quite a good marketing. The firm was posting ads all over social media and had affiliate programs requiring customers to advertise the company as well. Once someone joins, other customers will get a bonus to their trading account. Other than that, the firm was contacting clients via phone and email. All until the website shut down and the broker vanished with all the funds. Ever since there’s no contact with any of the victims.
Minimum Investment Amount
Believe it or not, this scheme firm required customers to deposit a minimum of 5,000 EUR. Not just that this amount is incredibly high, there’s absolutely no reason to risk as much with anonymous shady fraud. Instead, find yourself a legitimate broker with a Micro account starting with as low as $10. Think twice before investing, especially if you see a firm asking for a high deposit. Also, most chances are that something is not right.
The Importance of Legal Documents
Legal documents such as Privacy Policy and Terms and Conditions are of utmost importance. Everything you need to know about the broker, including the court of appeal, should be written there. However, the broker has never specified any relevant information. Instead, they have copied legal documents from other firms but without naming the owner or legal jurisdiction.
Global Profit Trading Conditions
Even trading conditions were bad with Global Profit broker.
About Leverage And Spreads
The company offered a spread of 2.5-3 pips for major Forex pairs, while the average is 1-1.5 pips. Furthermore, the leverage was fixed at 1:200. EU and UK regulators have a strict limit of 1:30, while in Australia, this limit is 1:50. All in all, Global Profit was not on your side.
Deposit, Withdrawal Methods, And Fees
The firm requested a deposit of 5,000 EUR, while the minimum withdrawal amount was never specified.
What Payment Methods Does The Broker Accept?
The company allows:
- Debit/credit cards
- Wire transfer
Of course, fees and commissions are nowhere to be found. This firm didn’t bother too much being transparent.
Scammed by Global Profit Broker? – Let Us Hear Your Story
If you have deposited with Global Profit using your credit card, here is great news! You can file for a dispute and get a chargeback.
But What Is A Chargeback?
A chargeback is a way for your bank to recover the stolen funds directly from the merchant. Contact us via online chat to book a free consultation and let’s recover your funds before it’s too late.