Profitlevel brokerage company operates in several European countries (e.g. Hungary, Greece, etc.). Profitlevel focuses on Forex, stock, indices, commodities trading and, CFD contracts. The minimum entry deposit is $ 250. Customer can deposit their money via credit or debit card (min. deposit $ 100) or by bank transfer (without min. deposit).
The broker allows investing via leverage up to 1:30 for regular clients (max. legal amount) and up to 1:100 for the trusted professional clients. Clients can open a demo account for the trial; however, its use is limited to 30 days.
The advantage of the international company Profitlevel is the local customer support in several languages and the economic calendar – an up-to-date overview of an important changes in the financial markets (e.g. from the USA, Canada, Australia or the EU).
The broker’s website is available in 7 languages – obviously in English, but also in Greek, Slovenian, Spanish, Hungarian and Croatian. Therefore, also potential traders with little to no English knowledge can start trading with this broker, which is very positive.
Options for trading with the Broker Profitlevel
Profitlevel offers investments in shares (of hundreds of companies from the EU, US and UK) and CFD shares, of about twenty commodities or indices. It also offers, for example, trading via Forex (up to 60 currency pairs). Unfortunately, it does not allow investment in popular cryptocurrencies, which have great potential for profit. On the other hand, it offers many language mutations – for example Slovenian.
Profitlevel broker regulation
Profitlevel is registered under the Cypriot investment company MCM Begin Capital Markets, CY Ltd, which is supervised by the Cyprus Securities and Exchange Commission (CySEC).
Profitlevel trading platform
The broker has only one platform on offer, however, it is a very good one. Profitlevel makes its clients use the MetaTrader 5 trading platform, which is the most widespread one in the world, used both by beginners and professional while trading on the financial market. MT5 is available in many languages, which is another positive aspect of it. The platform itself is not difficult to use at all and can be used from a computer downloaded to smartphones via Google Play or the App Store.
Profitlevel broker demo account
Creating a demo account is easy and it consists of filling in your name, phone number and e-mail. Clients will receive login details via e-mail. New clients can try trading for up to 30 days, understand better the investment platform and they can better decide whether this type of investment suits them or not. After a month trial period, clients can open a live account.
Profitlevel broker fees
The broker charges fees around 0.75% with a minimum amount of approx. $23 for each trade. Forex margin starts at 3 pips. In addition to the fees for individual trades, the broker requires a maintenance fee ($89 or less amount of money remaining on the account) every 3 months for those accounts that weren’t used for 6 months. Profitlevel also requires an annual fee of 2% for portfolio management.
Profitlevel broker website
Design of the broker’s website is average. There is no fee schedule on the website avaiable, although the trader’s margin is one of the most important aspects when choosing a broker. On the other hand, the website provides a lot of inforation and you will find a lot of useful sections on the website such as the Blog, the Education section or the Scams and Alerts section. In addition, the website is available in seven languages – English, Greek, Slovenian, Hungarian, Croatian and Slovak.
Registration
The process of basic registration is relatively easy, you just fill in personal data (name, phone number, e-mail) and after logging in you will be albe switch to a demo account immediately. You can try investing “on trial” (see subchapter below).
Registration for the “live account“ is more complicated, it contains more detailed personal data such as an address, information on the amount of income and net worth, including the proportionality test. The test verifies basic knowledge about leverage, risk management and stock trading. Besides that, the customers are obligated to specify their investment goals and the level of risk they are willing to take. In the end, the trader requests to upload the customers’ personal documents – a passport or driver’s license will be sufficient.
Demo account
Creating a demo account is easy, beyond the basic registration no additional data is needed. New customers can thus try trading “in draft” for up to 30 days without much difficulty, they get acquainted with the investment platform and thus better decide whether this type of investment suits them. The client will receive 100,000 virtual dollars for this purpose.
Just a few minutes after creating a demo account, new clients can go directly to Forex, where they can try up to 10 currency pairs for free. Unfortunately, the demo version does not offer wider trading options. After a one-month trial period, customers have the option to switch to a live account. Before starting trading, you need to fill in your personal data at https://my.profitlevel.com/.
Social network broker Profitlevel
Profitlevel is active on Facebook, Twitter and Instagram. Posts appear on all named platforms on average every 5-7 days. Customers can comfortably watch essential information directly on social networks, which is a big plus.
Final summary – advantages and disadvantages of the broker Profitlevel
The advantage of the broker is a detailed overview of current financial news from around the world (especially from the EU and the USA) as well as a wide range of investment platforms for both beginners and real professionals. The offer of trading instruments is relatively wide, but it could be larger.
On the contrary, relatively high fees can be perceived as a disadvantage especially by small investors. Another disadvantage is the navigation of the website which is quite chaotic. On the other hand, Profitlevel provides an above-standard amount of information, including educational section, compared to the competition. The broker is also active on most of the social media networks.
Pros:
- Profitlevel provides a detailed overview of financial news from around the world
- Website containing a lot of information, including the Education section
- Wide range of investment platforms
- Demo account
- Wide selection of trading instruments
- Broker activity on social networks
Cons:
- Absence of cryptocurrency trading
- A bit confusing web navigation
- Fees may be too high for small investors or beginners
