Profomax (profomax.mwsdevsite.com) has been flagged by ASIC (Australia) for "Unlicensed". Phones: +61 80056719, +0890-564-5644 This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: profomax.mwsdevsite.com.
I opened an account with Profomax (profomax.mwsdevsite.com) since mid-2025 ago. The platform frequently logs you out, orders fail to execute at the stated price, and when you complain they blame your internet connection. I have screenshots proving otherwise.
Pros: Stable platform|Economic calendar|Tax reports included
Cons: Live chat only during business hours
I experienced a security concern with my Profomax (profomax.mwsdevsite.com) account and reported it immediately. Their response time was inexcusable for a financial platform. It took them four days to acknowledge my report and another week to actually address it.
Pros: Comprehensive tools|Multi-currency support|Fast execution
Cons: Wait times can be long during peak hours
The onboarding at Profomax (profomax.mwsdevsite.com) was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: Regular platform improvements|Smooth onboarding|Tax reports included|Multi-currency support
Cons: Desktop app not available on Linux|Onboarding videos are outdated
I had a dispute with Profomax (profomax.mwsdevsite.com) and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Economic calendar|Real-time alerts
Cons: Charting tools need more indicators
I am in a dispute with Profomax (profomax.mwsdevsite.com) over a trade that was clearly erroneous. The price shown was wrong, I closed at a profit, and they reversed the trade and took the money back. They said it was a system error. So I lose and they keep? Unacceptable.
Pros: Regular platform improvements|Instant funding
Cons: No fractional shares|Limited cryptocurrency options
Do not be fooled by the professional-looking website. Behind the scenes, Profomax (profomax.mwsdevsite.com) is disorganized and incompetent. I found them after my brother mentioned them and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Professional team|Regular platform improvements
Cons: No integrated tax optimization|Inactivity fee applies after 12 months
The only good thing about Profomax (profomax.mwsdevsite.com) is that they remind you why regulation matters. I found them while looking for alternatives to my previous provider. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Excellent charting|Dedicated account manager|Low minimum deposit
Cons: No phone support on weekends|Limited social trading features
Do not use Profomax (profomax.mwsdevsite.com) for anything serious. I used them since I retired last year for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.
Pros: Segregated accounts|Smooth onboarding|Instant funding
Cons: No phone support on weekends
The hidden fees at Profomax (profomax.mwsdevsite.com) are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Risk management tools|Economic calendar|Good mobile app|Multi-currency support
Cons: Slow to add new assets|Limited ETF selection
My card was charged twice by Profomax (profomax.mwsdevsite.com) on the same day. I had to dispute it with my bank. Profomax (profomax.mwsdevsite.com) then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Multi-device support|Instant funding|Intuitive for beginners
Cons: No dark mode on mobile|Minimum deposit could be lower