Read our Profitix review carefully to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a profitix.com review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So Profitix is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about Profitix in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.
Profitix Review Conclusions
Making the Profitix review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Profitix review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
It was the morning of 15’th May 2020 when I received a phone call on my mobile phone from an unknown number. the lady on the other side who had a Filipino accent told me that she is representing an online financial education platform by the name of “Capital World” which as per their website is based in the UK. She was very friendly and persuasive. She asked me about my background, my professional and personal information mentioning that it is for profiling.
She explained to me that their website is an online learning platform that provides financial education to get started with online trading. They will also have a financial consultant who will guide me on how to do trading. The educational platform was stated to be having lifetime access and all of it for a payment of One Hundred United States Dollars. Along with the Capital World account, I also received an email from a company named ProfitIX Ltd. On the evening of 15’th May 2020, I received an email from a person named Phillip Weber, who as per his email is the Senior Portfolio Adviser & Head of the VIP trading Floor. This person gave me a phone call and asked me for a suitable time to have a chat. We mutually agreed to have a chat later in the evening of 15’th May 2020. Later during the call, Mr Phillip Weber introduced himself got me started on the account by getting the “Metatrader 5” App on my mobile phone downloaded and installed. He also got the “Anydesk” App downloaded on my phone after which he took control of my phone and demonstrated the trading App. He showed me a 100 USD balance on my account (which I paid for earlier in the morning). He opened a Bitcoin trade with the available balance of 100 USD and asked me to wait for few days for the trade to yield profit.
About two days later, on 18’th May 2020, I received another call from Mr Phillip Weber asking me to check the account. There was a small profit on the account from the trade. Following this, he proposed to me to deposit a higher sum of money so that the profit could be higher and persuaded me to deposit more for which he made me agree. During the transaction, he was in control of my laptop using Anydesk software which he installed on my laptop prior to doing this transaction. He made me do a similar setup on my laptop to set up the trading account on it like what he did on my mobile phone.
Upon gaining control of my laptop, he took me to his profitix website and initiated a deposit. I entered my credit details as requested by him and authorised the transaction. Although the transaction was made on his website using a credit card, the actual transaction occurred via a website called bitcoin.io
After making the deposit, he opened a few trades on my account for various financial products.
The next day he called me again mentioning that he will provide a credit bonus from his side should I deposit some money with him and persuaded me to deposit more money with him which I did, in the same way, using my credit cards and the amount was again taken using a bitcoin wallet. This was followed by some more trading activity.
After a gap of one more day, I received a call from him again showing me a good profit and persuading me to make one more deposit since he has a scheme of 100% bonus credit if I deposit an amount on that day. After a lot of discussions, I finally deposited some more money into the account. As usual, he opened more trades for me. The trades were excessively opened and four days later on 26’th May 2020, I received a panic call from him saying that my account is going in a serious negative due to a market downturn and if I do not deposit more money now, I will lose all my money. He forced me to deposit a lot more money in multiple transactions. During this process, he used to get overly aggressive and used extreme pressure tactics to get what he wanted. I was held at ransom since a substantial amount of my hard-earned money was now with him and as per him, if I would not comply, I would lose my money.
The total bitcoin transactions now summed up to a significant amount. By now, I got suspicious of what is happening and read about this company and found out that they are in fact an online scam.
Upon looking at the trades which were being carried out on my account, I did see some discrepancies/ signs of manipulations of the entry prices of the trades to induce losses and make it a case to force me to deposit more money. Upon understanding the same, I tried to create a withdrawal request and withdraw my money back and tried to speak to Mr Phillip Weber about it. He opened more trades on my account and said that he will send the money. About two days later when I saw the account, all the trades were (made to go) negative and he pushed me hard to start depositing more money.
He even forced me to login into my bank accounts so and check my bank balance.
Vorsicht: Anlagebetrüger. ich habe viel Geld investiert, das nach kürzester Zeit verloren war. Man entschuldigte sich, nachdem die freie Margin komplett augebracht war, dass der Broker Oliver Stummer (Zitat) “faul” war und bereits entlassen sei und dass es Herrn Christian Schmidt leid täte. Aber mit einer weiteren Investition von 25.000 könne man es wieder in Ordnung bringen. ich glaube, dass es nie Absicht war, mit der Investition professionell umzugehen, sondern dass das Geld längst verteilt war in dem Moment, als ich es auf ein slowenisches Konto eingezaht hatte. Dann hat man mir einen “Wiederherstellungsvertrag” angeboten. Die Fa Profitix würde mir 10.000€ gutgeschreiben, um damit zu traden, und als 6.000 $ “wiederhergestellt” waren, hat man die “Wiederherstellung” beendet. Ein weiteres wurde über einen sogenannten Wiederherstellungsvertrag über 2.000 $ zur Verfügung gestellt. Bevor aber die 2000 $, was sowie so nur ein Bruchteil des verlorenen (oder gestohlenen?) Geldes wäre, hat die Brokerin Barbara Larsen mit viel Geschrei erklärt, dass ich! das Geld verbrannt hätte und somit kein weiteres Trading möglich wäre, sondern ein Verlust von ca 10.000 $ entstanden wäre, die ich aber kulanterweise nicht bezahlen müsse. Ich hatte den Eindruck, dass alles nur ein fake ist, um mich ruhig zu stellen.