Tradeprofits Review

About Tradeprofits

Tradeprofits, operating under the name Tradeprofits Limited, offers forex and CFD trading via a proprietary platform, including purported support for forex, cryptocurrencies, and CFDs. It claims a company address at 381 Midsummer Boulevard, Acron House, Milton Keynes, United Kingdom, MK9 3HP, and uses the domain tradeprofitsltd.com ().

The firm is not authorised by the UK Financial Conduct Authority; the FCA issued a public warning on 1 June 2023 stating that Tradeprofits may be providing financial services or products without authorisation and advising consumers to avoid dealing with it (). No indication of licences from other regulators such as ASIC, CySEC, SEC, or NFA was found in official registries. Tradeprofits has also falsely claimed a company number (10973887) in the UK Companies House register, but that number corresponds to a different dissolved company (Crypto Gain LTD) ().

Multiple independent sources, including BrokerChooser and wikifx, confirm that Tradeprofits is unregulated and carries a high risk profile. BrokerChooser categorizes it as not trustworthy based on publicly available regulatory data and absence of regulation by any top-tier authority (). Wikifx similarly concludes that the broker currently holds no valid forex regulation ().

Pros and cons

Pros

• Offers various account types and low minimum deposit options for traders ().

Cons

• Not authorised by the FCA or any other reputable financial regulator; FCA issued a warning dated 1 June 2023 ().
• Uses false company registration information (company number belongs to a different dissolved company) ().
• Unregulated status exposes clients’ funds to significant safety and legal risks ().
• Negative reputation with reports of withdrawal issues and lack of transparency regarding ownership and operations ().