With more than a decade of experience in the finance industry, Profitrade247 has positioned itself as one of the leading and most popular trading platforms and social investment networks. The regulated service offers a diverse range of assets, including forex, stocks, cryptocurrencies, commodities, and exchange-traded funds (ETFs).
Profitrade247 was formed in January 2021, when a couple of entrepreneurs set out to make the world of trading accessible to anyone, anywhere, without depending on global financial institutions. The core team of Profitrade247 is composed of seasoned experts from the world of Finance and Technology.
Is Profitrade247 Safe?
As a leading trading platform, Profitrade247 has successfully ensured compliance with top regulatory authorities, including CYSEC, FCA, CIF, MiFID, and AFSL. The service’s meticulous adherence to the safety and security of their clients’ funds has positioned the platform as one of the leading brokers for crypto trading.
As one of the regulated trading platforms, Profitrade247 users are required to verify their identities by submitting authentic government-issued documents. These steps are taken to protect traders from fraudulent and criminal activities. It also helps the trading platform to create a secure environment for traders. By making sure that their users go through this process, Profitrade247 adheres to Know Your Customer (KYC) and Anti Money Laundering (AML) regulations.
Platform & Features
The leading platform offers a wide range of features for both amateur and professional traders, including the following.
Trade 25+ Cryptocurrencies – Using the desktop or mobile version of the platform, you can buy, sell, and hold a diverse variety of cryptocurrencies, including EOS, LTC, ETH, XRP, BTC, and more.
Follow Other Traders – If you want to observe and follow a certain trader, you can monitor their trades and portfolio.
CopyTrader – This is like following other traders, except it automates the entire process. You can choose to copy other Profitrade247 members’ trades in real-time. Ensure you are minimizing your risk before using this feature.
Desktop & Mobile Platform – With both desktop and mobile apps, you can monitor your trades from anywhere you want. There’s also a mobile wallet which you can use to hold your coins.
Low Trading Fees – The platform allows you to trade with zero commissions and there is no specific trade charges or recurring fee that you’ve to pay to keep your account.
Virtual Portfolio – This option allows you to test different strategies and learn trading without putting your real money at risk.
Payment Methods – The cryptocurrency trading service enables you to pay for your purchases with various payment modes, including debit card, credit card, PayPal, Neteller, Skrill, bank transfer, and more.
Fees & Commissions
For US Traders – Depending on the cryptocurrency you are trading, the fees could be anywhere between 0.75% and 5%.
For Non-US Traders – No commission on opening or closing long positions on stocks, while short positions result in a commission of 0.18%.
For Non-US Traders – If you are not using the local currency, you will need to pay the exchange fee.
Inactivity Fee – For accounts that have been idle for 12 months, there’s a $10 annual fee.
Withdrawal Fees – For US traders, there’s no withdrawal changes but for non-US residents, the withdrawal fee is $5.
Supported cryptocurrencies include BTC, ADA, EOS, ETC, NEO, XLM, TRX, ZEC, BNB, LINK, YFI, AAVE, ALGO, MATIC, BCH, DASH, ETH, MIOTA, XRP, XTZ, LTC, COMP, UNI, DOGE, MANE, and BAT.
How to Open an Account
The account opening procedure is quick and straightforward.
Step 1 – You will need to register your account using your email or social media accounts such as Google or Facebook.
Step 2 – If you want to add funds for trading, the next step will be to go through identity verification. For that, you will have to upload government-issued documents for proof of identity and proof of residence.
Step 3 – Since Profitrade247 only facilitates USD accounts, your funds will be converted into USD. You can use multiple options for depositing your funds, including credit/debit card, bank transfer, PayPal, Skrill, Neteller, and more.
If you are a non-US resident, you will have to pay $5 per withdrawal. You can use the same deposit methods for withdrawal too.
How to Trade Crypto on Profitrade247
Once you have opened an account and verified your identity, you can start trading. Search for the cryptocurrency you would like to invest in and click on “Trade”. Then you will need to enter the desired investment amount and define any parameters to manage your trade. Next, click on “Open Trade”.
It is recommended that before you invest your real money, you should use the $100,000 in your demo account to familiarize yourself with the platform and assess different trading strategies.