ProfitLevel Review – Is the Broker a Scam or Legit?

Is ProfitLevel an Accredited Forex Broker?

ProfitLevel is a trademark of BCM Begin Capital Markets CY Ltd. CySEC regulates the company, which has its headquarters in Cyprus. This is usually good news, since the EU regulations are in place.

CySEC is a Tier 2 regulator because of many omissions, and many scammers that have emerged from this area. Tier 2 is considered average trust and should be treated with caution.

Further suspicion is triggered by the fact that the owner of the company has changed their name along the way. This leads us to question its motives.

The brokerage also has an EU license, but does not accept Slovenian residents. This could be because there have been many complaints about the firm’s operation in Slovenia.

The company accepts deposits via wire transfer and credit/debit cards, but withdrawals are only possible through the bank account. This is directly against AML policies that require money to be withdrawn in the same manner it was deposited.

If you have any questions about ProfitLevel operations, please let our team know.

ProfitLevel, a CySEC-regulated business is a brand of BCM Begin Capital Markets CY Ltd. Two other brands are owned by the same company – CapitalPanda and BCM.

Where do Profit Level Clients come from?

According to GoDaddy WHOIS, ProfitLevel was active from the 19th September 2015, according to GoDaddy WHOIS. The majority of their customers are from these countries over the long history:

• Slovakia
• Czech Republic
• Greece
• Slovenia

This is not surprising, as the tied agents are OX Czechia S.r.o. and Aegean Equity Single member PC. They reside in Greece and Czech Republic. Concerns were raised by a sudden shift in the status of Slovenian residents.

ProfitLevel Reviews – Customer Experience

We found 25 ProfitLevel reviews on Trustpilot at the time we wrote this article. We also discovered a warning about fake reviews which has been removed. Another alarming fact about a legit trading company is the posting of fake impressions and misleading investors.

ProfitLevel’s trading platform is the best thing. MetaTrader 5 is the best trading software available.

It supports many tools for technical analysis and EAs. Demo accounts are also supported. You can also add on many tools to enable social trading or new strategies.

This software is compatible with both macOS and PC devices. It supports 31 languages.

ProfitLevel Mobile App – Can I Trade on Android and iOS?

MT5 is available for both desktop and mobile devices. Android and iOS users will be able to download the dedicated tool and log into their accounts easily.

We would like to highlight that this brokerage also engages in other illegal activities, such as non-compliance of anti-money laundering laws.

You should consider other options, even though the platform is great.

What can I trade with a broker?

There are four types of trading instruments you can access, including CFDs:

• Forex or Currency Pairs: EUR/USD, GBP/ILS, or NOK/SEK
• Commodities like Gold and Natural Gas.
• Shares like Amazon and Google.
• Indices include DX 30, A 200 and NIKEI 225.

Additionally, cryptocurrencies are not available, as this is in accordance with the TPR of the company – a temporary system for providing services to UK residents.

Spreads and ProfitLevel Fees

Spreads start at 3 pips which is quite high. While the average spread is 1.5 pip, many brokers offer lower spreads. The company charges high swaps as well as 2% per lot for trading commissions on US, UK and EU shares.

ProfitLevel broker is, in general, the most expensive side of the scale.

Comparing Trading Accounts – What is the Difference?

You have the option to choose one of six types ProfitLevel accounts, which are:

• Blue Trading Accoint – Minimum deposit $1,000
• Bronze – $50,000
• Silver – $100,000
• Gold – $350,000
• Platinum – $500,000
• Diamond $1,000,000

Although the difference in the amounts is significant, it is not worth the cost. Clients can upgrade to the Bronze account to receive five days of support and Autochartist every week, while the Silver account offers invitations to exclusive events.

The Platinum account offers lower spreads and exclusive market analysis. Diamond accounts also include a premium relationship manager and all the above.

What is a chargeback?

Chargebacks are a way for your bank to reclaim funds from the merchant. We recommend that you contact us immediately to initiate the process. In a free consultation, we will discuss how to get your money back immediately!

ProfitLevel: Video

Below you will find a short video about ProfitLevel. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about ProfitLevel!