ProfitsVision is a scam that has received multiple warnings from the regulatory authorities of different countries.
They use false promises and deception to gain clients.
Furthermore, the company has horrible trading conditions. It claims to help its customers reach their desired goals by providing them with the required trading tools but that’s all lies.
In reality, the company uses various marketing tactics to defraud customers and steal from them.
FSMA Warning Against ProfitsVision
FSMA, Belgium’s financial regulator, has released a warning against this fraudulent forex broker as well.
According to the warning, the Financial Services and Markets Authority had received numerous complaints about this fraudulent online trading platform.
Scams like ProfitsVision run scam ads on various social media and video platforms to catch the eye of potential victims. Moreover, they get a well-recognized person to explain how people can get rich quick in their advertisements to increase their chances of success.
In some instances, these scammers might utilize mobile apps and run fake ads there.
Once people start signing up for their platform, they would present them an investment proposal. According to the financial regulator, these scams also run ‘affiliate programs’ which are akin to pyramid schemes.
FSMA highlighted that such companies usually lack proper authorization and their investors are never able to get their investment back because the criminals reside overseas.
Receiving an FSMA warning proves that ProfitsVision is a scam.
You should not sign up there.
How the ProfitsVision Scam Operates:
Usually, scams like ProfitsVision tend to call their clients and ask them to make a minimum deposit. The company would make offers which sound too good to be true just so people would deposit a large sum with them.
For example, some scammers claim to ‘double the initial investment’ of their customers.
When you make the initial deposit, the scammer will pass you to a “retention agent” whose sole goal is to get more money out of you.
Initially, the scam only focuses on squeezing as much money out of you as possible.
Furthermore, ProfitsVision is an unlicensed broker. This means you wouldn’t get any protection from any regulatory authority if you sign up with them. An unlicensed broker can do whatever it wants with your money and that’s why you should never invest with such brokers.
Scams like ProfitsVision would focus on providing friendly service as long as you don’t request a withdrawal.
As soon as you ask for a withdrawal, things change. Suddenly, the company would stop responding to your questions or they might ask you to deposit more. You will hear excuses but never get your money back.
Chances are, you would hear another “too good to be true” offer from them so you may invest more just to get your money back.
However, if you don’t fall for such tricks, the company will try to delay the procedure. They would delay it for months so you become ineligible for chargebacks.
There are innumerable examples of people losing their hard-earned money because of such scams.
More Information About ProfitsVision:
ProfitsVision claims to offer its customers access to the popular MT4 trading platform. But the truth is, they don’t offer this platform at all.
Instead, the company provides customers with a web trader which is nowhere near MT4 in terms of features and trading experience. MetaTrader4 and MetaTrader5 are extremely popular trading platforms because they provide customers with a plethora of features including bots, charts and numerous analysis tools.
However, many forex scams such as ProfitsVision try to falsely claim that they use MT4 or MT5 just so people would sign up with them.
This is false advertising and extremely misleading.
It is another red flag in ProfitsVision and is an indication that you must avoid trading with them. There are plenty of other forex brokers which have proper regulation and license. You don’t have to stick to a firm which fails at providing its customers with a decent trading platform.
A huge issue with shady web traders is that they might not reflect the true trades you’re making. In many cases, scammers show you a rigged web trader which might not follow your orders and cause you to lose your entire investment.
This can be extremely disheartening and is one of the many tactics used by forex scams such as ProfitsVision.
ProfitsVision Trading Conditions:
The offered leverage of ProfitsVision is 1:100. This is extremely high.
Such high leverage might seem attractive but it puts your deposit at a lot of risk as a small error can wipe out your entire investment instantaneously.
That’s why regulatory authorities put a limit on how much leverage their licensed brokers can offer. For example, brokers regulated in the US can only offer leverage up to 1:30 while those with a license from FCA can only offer leverage up to 1:50.
Such limits ensure that the platform cannot scam its customers.
With ProfitsVision, you wouldn’t get such security.
The minimum deposit requirement of this scam broker is $500. Again, this is extremely high because most of the regulated brokers keep their minimum deposit requirement around $10 or lower.
Scammers tend to keep their minimum deposit requirement high so they can squeeze out as much funds from every victim as possible.
ProfitsVision is a dangerous forex scam which puts a lot of customers at financial risk.
It would be best for you to avoid trading with them and find a different, more reputable broker.
The forex sector is teeming with numerous scammers and fraudsters all on the lookout for gullible investors.
Seeing how ProfitsVision has received a scam warning from Belgium’s financial regulator, FSMA, it’s obvious that they are a fraud.
Furthermore, the forex broker doesn’t have any regulatory license nor any authorization to offer its financial services.
ProfitsVision is a forex scam which has received a scam warning from Belgian regulator, FSMA. Avoid trading with them.
- Received a scam warning from FSMA
- Deceptive marketing
Once I’m also invested in one of the trading companies, As I’m new to the market I have no knowledge of financial markets, how ups and downs are taking in the market, and the frauds or scams which are taking place in the market. I lost nearly $5000 to $6000 in the market. From this, I have learned the great lesson that investing in the financial market is a good thing, but this is not for everybody a rational person who has better knowledge about trading only then he or she would go for trading.
From my point of view, scams and frauds are increasing on online trading platforms. As an investor people have to be aware of these kinds of things which are happening in the market.
For promoting their scheme or grab the attention of the people trading companies doing fake advertisements. The people [ are unaware of the frauding scheme of the trading company. The main motive of this type of company is to target those people who lack knowledge of the business.
As the owner of the company, their main motive is to generate profits. By giving different types of the policy to double your money. People started believing in this type of fraud and investing their money. One of my friends who does not know the financial market or trading market came into the trap of this type of scam, he has lost a lot of his money in this type of scam.
As one of my neighbors has invested in trading platforms, he wanted to generate or earn money from online trading platforms. But at last, he has to face a lot of loss. Doing trading is not a bad idea but before investing we should be aware of Business tactics. Knowing the current news regarding financial markets helps people to tackle scams.
I had a great fight with one of the trading companies from where I lost my $2000, and they told you about their fraud scheme and the mode of payments and the installments.
From the investor’s point of view, the regulating body has to set some restrictions on such type of trading company which is the main motive to earn profits. The regulating body appoints the particular auditors or person who checks the transactions of the company.
ProfitsVision is one of the trading companies, that target particular investors who are new in the market, through MT4 platforms. People started to sign up on the platform and were unaware of the motive of the company.
FMSA also warned this type of company by giving them legal notices and publishing different types of articles to warn people who are unaware of the scams and frauds of the company.
I worked as an employee in a trading company where I found the company’s mechanism, how they fool the people and generate profits from a particular person’s income. Knowing the intention of the company I have left the job.
In many countries, these types of trading companies are banned and Regulatory authorities take proper action against them. People get back the money which they earned from hard work and by giving factor services.
Some of the trading companies start giving black money to the government to shut down their mouth. And there needs to be action taken by the particular regulatory body of the country.
Doing this type of marketing in a particular country would raise the black marketing of the company. It would also raise corruption in the country.
Some of the trading companies also suppressed the particular author who raised their voice against him. By doing They also misled particular investors who wanted to invest or raised their money in the financial market
As an investor, I would suggest that before investing you should check the backstory of the particular trading company and have great knowledge regarding the financial market.
)FSMA has issued a warning against this forex scammer for frauding his customers and making them due to their fraudulent schemes the Belgian government has also issued warnings not to trade with these companies.
The main business of these firms is to attract customers after posting links on social media sites and making them trapped in some sort of scheme.
These groups are always finding potential victims who want to earn money quickly and scam them, thus it is a request never to click any of the links on the internet, especially the ads.
This article picked the most crucial topic, nowadays potential scammers are making several links and posting them on the internet for scamming innocent people.
The government should make some rules and regulations to restrict these scammers from making innocent people get scammed and making them punished for their acts.
The government is making mistake in approving them to trade due to a lack of proper registration investors don’t get their original location and never get their invested funds back from the offshore scammers.
The company is making fraudulent messages after making improper investment proposals and then scamming the investors.
The most inappropriate thing about these investors is that they don’t make any of their promises and claims fulfilled thus make suffer after you invest your money.