ProfitAssist is a broker that underwent the registration procedure in 2014. The company provides a platform for trading.
According to what ProfitAssist (official website: www. profitassist.io) tells about itself, the broker strives to continuously improve the quality of its services. It assures that it can tell about the best ways to earn money and will actively support investors. In addition, the company promises to provide access to original trading strategies and to teach how to use them correctly or to provide consultations on the course of trading activities.
From its official website you can learn that:
- ProfitAssist services are used by people in almost two hundred countries;
- the number of clients registered on the platform exceeds 18 thousand;
- the broker can offer more than 250 different instruments for trading;
- there are over 4.5 thousand positive reviews about the company.
Indeed: the company has managed to collect a lot of feedback over the years of its activity. At the same time, most of what can be found on the web about ProfitAssist are negative reviews, exposing the unscrupulous actions of the broker and warning against working with him, as it can lead to the loss of all invested funds. At the same time, the fact that the company has been operating for not the first year does not contradict the statement that in fact ProfitAssist is a fraudster. Thus, users note:
To what extent do such statements correspond to reality?
ProfitAssist: available account types and trading services
The company’s website provides information about the three types of accounts available to its clients.
| Account name | Test | Premium | VIP |
| Minimum deposit to open | $1000 | $10,000 | $100,000 |
| Leverage | 1:200 | 1:75 | 1:30 |
| Spread | From 3 points | From 2.1 points | From 0.7 points |
| Number of trading instruments | 50+ | 250+ | All available |
| Bonus amount | Up to 35% | Up to 70% | Up to 100% |
| Account Insurance | Up to 35% | Up to 55% | Up to 75% |
| Commission | Present | None | None |
The account opening procedure is quite simple and can take place entirely on the web. To open a personal account with ProfitAssist, you will only need a few minutes. At the same time, the lowest deposit size is $1000. This is relatively small when compared to other types of accounts available to investors here, but this amount is still able to screen out many inexperienced investors who are not ready to take risks. Thus, some users note:
As for the attractive bonus payments that ProfitAssist broker tries to attract attention with, the withdrawal of funds received as a bonus is available only after completing a trading volume 25 times higher than the total amount of the deposit and these bonuses.
Visa and Mastercard, bank transfer and Piastrix are listed on the site as payment and withdrawal methods. The account is considered as inactive if no transactions have been made for six months. There is a 10% commission deduction every month thereafter. The percentage, rather than a clear commission amount, is extremely disadvantageous for clients. Generally, honest brokers have a clearly defined amount of commission for an inactive account, which is around $20. It can take up to 5 days to process a deposit or withdrawal, which is quite a long period.
guarantees and regulation
The broker is managed by Seabreeze Partners Ltd. The company is registered in the Dominican Republic. The registration number and legal address can be found on the company’s online portal. This state is an offshore zone, and therefore the brokers registered there cannot guarantee the safety of their clients’ money. If the company, for example, goes bankrupt, the funds invested in it will be irretrievably lost.
At the same time, ProfitAssist support service works according to principles different from other brokers. It does not have a chat room on the web, and therefore getting an answer to a question is slower. In addition, the company’s website does not have any phone numbers, through which emergency questions can be solved. All the client can use are several e-mail addresses, the answer to which is not guaranteed. There is also a form for sending messages on the company’s website, but some customers say that it is useless:
Conclusion
It is highly recommended not to hurry to open accounts with ProfitAssist. Money scam when trying to cooperate with it is very likely. The company has been operating for not the first year, but there are many ambiguous points in the specifics of its activity, starting from the place of registration of the legal entity and ending with the system, according to which the relationship between clients and ProfitAssist itself is built. Reviews about its work should become a warning for novice investors looking for a reliable broker. People note:
Thus, it would be very imprudent to entrust your savings to ProfitAssist. It would be better to find a more reliable broker.