Profitlevel

General Information & Regulation

Profitlevel, a trading name of BCM Begin Capital Markets CY Limited., is allegedly an STP broker registered in Cyprus that claims to provide its clients with various tradable financial instruments with leverage up to 1:30 and floating spreads from 0.01 pips on the MT5 for Windows and Mac os trading platforms, as well as a choice of six different live account types. Here is the home page of this brokers official site:

As for regulation, it has been verified that Profitlevel is regulated in Cyprus. That is why its regulatory status on WikiFX is listed as “Regulated” and it receives a relatively low score of 2.63/10.

Negative Reviews

A trader shared his terrible trading experience on the Profitlevel platform at WikiFX. He said this platform is a scam. It is necessary for traders to read reviews left by some users before choosing forex brokers, in case they are defrauded by scams.

Field Survey

It is confirmed after the team‘s site visit that the office address in the regulatory information about Profitlevel is true. However, because of the epidemic, the team was not allowed to enter the dealer’s office, so there was no way to find out the business scale and operation of the dealer. Investors are suggested to take all factors into consideration before making any decision.

Market Instruments

Profitlevel advertises that it offers access to a wide range of trading instruments in financial markets, including CFDs on shares, forex, indices and commodities.

Account Types

Apart from demo accounts, Profitlevel claims to offer six types of trading accounts, namely Blue, Bronze, Silver, Gold, Platinum and Diamond. The minimum initial deposit amount is $1,000 for the Blue account, while the other five account types have much higher minimum initial capital requirements of $50,000, $100,000, $350,000, $500,000 and $1,000,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.

Leverage

Profitlevel says to offer a maximum leverage of 1:30 (varies by instrument), while for physical shares, the maximum leverage is up to 1:1. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads & Commissions

Profitlevel claims that the typical spread on physical shares starts from 0.01 pips and the commission on which is 0.75%.

Trading Platform Available

Platforms available for trading at Profitlevel are MT5 for Windows and Mac os. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Deposit & Withdrawal

Profitlevel says to accept deposits via credit/debit cards and Bank Transfer, and withdrawals only with Bank Transfer. The minimum initial deposit requirement is said to be $1,000, and the minimum withdrawal amount is $0. There are no deposit and withdrawal fees charged.

Customer Support

Profitlevels customer support can be reached by telephone: +357-25-123-307, Fax: +357 25 030 026, email: support@profitlevel.com, info@profitlevel.com or send messages online to get in touch. You can also follow this broker on social networks such as Twitter and Instagram. Registered address: 2, Filiou Zannetou, Ground Floor, Office 1, 3021 Limassol Cyprus.

Risk Warning

Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.