NetProfit Review (net-profit.eu) FRAUD EXPOSED – Net Profit Scam Broker

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NetProfit Review (net-profit.eu)

Conclusion

Once you have completed your due diligence, you can see that NetProfit is not a legitimate broker and it is best avoided.

Broker Rating

0.1

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NetProfit (net-profit.eu) is without a doubt a %100 fraudulent brokerage firm. It is NOT a real broker! Stay away! Net Profit scam works by getting you to believe you can become rich by trading with them.

NetProfit Review

Looking for a legitimate brokerage? Hundreds of companies exist in the market for offering trading services and each of them will tout and market their services. But, this does not make it true. After all, there are many scam platforms that can be found in the market and their aim is to exploit people as much as they can. These are the ones you need to be worried about because their intentions are not immediately obvious. Some of them go to great lengths to hide their true nature, as this NetProfit review will highlight.

Sure, it may seem like a hassle, but it will not feel like it in the long run when it can save you from being scammed and help you choose a brokerage that can offer you professional trading services for a profitable experience. You need to be diligent in the case of NetProfit that will come off as the perfect choice for every trader at first glance. It claims to be regulated in the United Kingdom and is offering the MT5 trading platform to its clients.

Other offerings at NetProfit that draw the eye include ultra-fast trade executions, tight spreads, high leverage and a variety of trading instruments. This makes it a very attractive package, but you have to verify before believing any of it. Let’s start:

Licensing and regulation

When beginning your due diligence of a brokerage, you need to start with its licensing and regulation. Every authentic company will have a license to provide its services from the regulatory body of whatever region it is based in. This is confirmation that the broker is compliant with the rules and laws of the region, offers quality trading services and also ensures transparency and security. In addition, these brokers can also be held accountable if there are any disputes and there are protection programs in place.

The first thing that will catch your eye at NetProfit is that it claims to be a regulated brokerage. Most importantly, it is regulated in the United Kingdom, which is known as one of the most strictly regulated regions in the world. Therefore, you can expect excellent services from companies regulated there because the Financial Conduct Authority (FCA), which is the UK’s regulatory body, is very active. You cannot just accept NetProfit’s claim about regulation and have to verify it as well.

In order to do so, you need to run the name of NetProfit in the online register of the FCA and when you do so, you will come to know the first lie the broker is telling. There is no mention of it in the list of regulated brokers, but a warning from the FCA related to NetProfit does pop up. It has stated that the company is operating illegally in the UK and is offering its services to people without authorization. This means it has no credibility whatsoever and is not a legitimate company.

Trading platform

The next feature that you need to check about a brokerage is the trading platform because you will spend most of your time on it. It is what you will use for trade execution, for monitoring the market and for using the tools required during the trading process. Therefore, the kind of platform you have will have a significant impact on your experience and your success. You do not want to make comprises in this area and NetProfit assures its clients that they will not have to face such a situation.

This is because it is offering the MT5 trading platform, which you will find is the top trading solution in the market. Its advanced technology and powerful trading tools have made it a favorite of most professional traders, which makes it extremely appealing. Unfortunately, it turns out that NetProfit is lying about the platform because there is no MT5 available for download. Instead, what you have is a shoddy and underperforming web trading platform available.

The platform does not have any such trading tools and is severely lacking in capabilities. Many scam brokers in the market offer this platform for fooling their clients and NetProfit seems to be doing the same.

Trading conditions

In order to ensure the brokerage is competitive, you have to go over its trading conditions because these determine the costs you will have to incur at the end of the day. You will be shocked to find that the ‘tight’ spreads that NetProfit has advertised on its platform actually start at 2.9 pips. This is just too much because most companies offer spreads as low as 0.5 pips, or even lower.

As for leverage, the ratios that NetProfit is offering are as high as 1:100 and this is equally dangerous. First off, since it claims to be UK-regulated, it should not be offering such ratios because the cap in the UK is 1:30.

Payment solutions

The only payment solution that you are offered at NetProfit is that of cryptocurrencies. This is yet another indication that you are not dealing with a legitimate brokerage because this payment option is a favorite of scammers. It is easy to get away with crypto payments because they do not qualify for a chargeback, as opposed to credit cards. Moreover, crypto payments are also anonymous and this also works in favor of criminals.

The Answer

Once you have completed your due diligence, you can see that NetProfit is not a legitimate broker and it is best avoided.