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.
Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. Profomax (profomax.mwsdevsite.com) said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Social trading features|Fast execution|Educational resources|No hidden fees
Cons: Wait times can be long during peak hours|Slow to add new assets
Profomax (profomax.mwsdevsite.com) locked my account without warning and demanded documents I had already submitted. for just over a year later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Fast deposits|Excellent charting|Detailed reporting|Comprehensive tools
Cons: Onboarding videos are outdated|No live chat on mobile
After spending for about three months trying to make Profomax (profomax.mwsdevsite.com) work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Quick verification|Clear documentation
Cons: Could offer more webinars
After for about eight months with Profomax (profomax.mwsdevsite.com) I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Full transparency|Comprehensive tools|Competitive fees|Instant funding
Cons: Charting tools need more indicators|Some tools only available on higher tiers