They have written a paragraph about regulation but no information about their regulation is given. It seems they are unregulated. In other words I took it as deceiving customers.

Originally posted by Champ

They have written a paragraph about regulation but no information about their regulation is given. It seems they are unregulated. In other words I took it as deceiving customers.

That is right. I dun think they r regulated. Website looks professional but anyone can spend a few bucks to make a pro website.

Sometimes brokers do not register themselves as broker but as gambling or bank. But I dun think profitforex is either of them. I have never heard of it either. 

In short, I will never recommend this broker.

Originally posted by Champ

Sometimes brokers do not register themselves as broker but as gambling or bank. But I dun think profitforex is either of them. I have never heard of it either. 

In short, I will never recommend this broker.

 

Lolzz, I think you are a forex newbie. Profiforex is one of those brokers that the US traders love most. I think if you visit forex forums often you will see how many traders use their platform. I had one micro account with them when I was testing out one of my EAs. It worked perfectly. I was happy with their execution speed, which was good for the parameters I set for my EA. There are many brokers out there and there are those which I have not even heard of. But If I am told about a broker, I would rather check it out first rather than conclude. I am resting from forex for now, but when I return, I am sure I would consider Profiforex for my trades again.