In our Forex Profita review, we will be focusing on a relatively new Forex signal service that holds a lot of promises for its clients. Their boldest claim is that the key behind their success is the fact that they are founded and run by real traders who regularly find trading opportunities on their live accounts and thus are able to provide quality signals. Not the first time we have come across such promises, so we decided to dig a little deeper.
Forex Profita is founded in Southbank Australia and is owned by Admond Brosnan. The fact that that they operate out of Australia technically is a good sign. We already spoke just how difficult it is to run any type of Forex business in this part of the world due to local regulation, so we continued with our review slightly more optimistic.
Quality of service
There is hardly anything impressive with Forex Profita homepage. However, they are focusing on a very narrow market niche, we assume they didn’t feel the need to invest heavily in their web design. Still, you cannot shake the low-effort job. With a few grammatical errors and a convoluted system of menus, many brokers will quit on Forex Profita just because of the first impression.
Apart from words of encouragement on the homepage, traders are left on their own. This isn’t a place for beginners by any means. It was built with experienced traders in minds so that they can improve their strategies. You are expected to know everything about trading, as the signals you get can only be interpreted by knowledgeable traders.
Speed of response
The low-effort impression translates into customer service as well. There is no traditional “contact us” page, as all the contact information is scattered all over the homepage. If you are in need of a quick reply, there is a quick chat option, that does not work within the page itself, but rather takes you to Forex Profita WhatsApp and Telegram pages. The quality of response varies wildly depending on the question you present, but at least you are sure to get a quick response.
If you are looking for more traditional communication channels, you can contact them via email, or use the telephone line if you are outside of Australia. The number provided is based on Christmas Island, but no matter how many times we tried, we were never able to get through. Our advice is to stick to the quick chat feature until they implement something better.
Everything works as advertised here. Based on your plan, you are guaranteed as little as 4, or as many as 15 signals per day, and that is exactly what you get. However, you cannot know what exact time of the day you will receive your signals. On their F.A.Q. page, they clearly say that “you will get signals whenever it is available in the market”. While this makes sense (nobody can guaranty new market opportunities every second of the day), there is a bit of unease with this approach. Luckily we didn’t experience any issues and by the end of the day, we always got what we were promised.
As previously mentioned, there are several account types that are designed to reflect the different needs and budgets. For $30 per week, you can sign up for a trial account that grants you 4-8 signals per day that include 9 currency pairs, instant mobile alerts, personal signal manager and more. Most of these perks are the same for all account tier, the only thing that differs is the amount of signals you receive. The Standard account is $100 per month you get 6-10 signal. Business grants you 8-12 for $250 for 3 months, and finally, there is the professional tier that starts at $400 for 6 months and in return, you get 12-15 signals per day.
There is no formal licence to speak of, as Forex Profita is not regulated. However, the fact that they are founded and operated out of Australia, should inspire confidence. There are very little forex-related businesses in this part of the world, and we didn’t have any issues with any of them so far. This being said, all traders should proceed with caution.
Variety of Payment Methods
There is an abundance of deposit and withdrawal methods to choose from. Traders can use Master Card, PM, Didsbury, EMC, WebMoney, Neteller and Skrill. Be aware that waiting times can vary depending on your choice, especially if you are depending on your bank.