The forex market is a vast and complex market, and it can be difficult to know who to trust. That’s why it’s important to do your research before choosing a forex broker.
One broker that you should avoid is Profit Cinda Ltd. This broker is a suspected scam, and there are many red flags that indicate that it is not legitimate.
In this article, we will take a closer look at Profit Cinda Ltd. and explain why you should stay away from this broker.
Company Overview
Profit Cinda Ltd. is a forex broker that claims to be headquartered in St. Vincent and the Grenadines. However, there is no evidence to support this claim. The broker’s website does not list any contact information for its management team, and there are no regulatory records for Profit Cinda Ltd.
Team
The team behind Profit Cinda Ltd. is anonymous. There is no information about the brokers who work for this company, or their qualifications. This is a red flag, as legitimate forex brokers typically have a transparent team that is easy to find information about.
Services or Products
Profit Cinda Ltd. offers a variety of forex trading services, including:
- Spot forex trading
- CFD trading
- Spread betting
- Cryptocurrency trading
However, there is no way to verify that these services are actually available. The broker’s website does not have any live trading charts, and there are no customer reviews to indicate that anyone has actually traded with this company.
License and Regulations
Profit Cinda Ltd. is not regulated by any financial authority. This is a major red flag, as it means that the broker is not subject to any oversight or accountability. Unregulated brokers are more likely to engage in fraudulent activities, such as front-running, price manipulation, and withdrawal delays.
In their legal section, they did not provide any legal documents.
Why Dealing With An Unlicensed Broker Is Risky?
There are many reasons why it is risky to deal with an unlicensed forex broker. Here are a few of the risks:
- You may not be able to withdraw your funds.
- You may be exposed to fraud or scams.
- You may not be protected by financial regulations.
- You may not have access to customer support.
Legal Warning Against Profit Cinda Ltd. Forex
The Financial Conduct Authority (FCA), the UK’s financial regulator, has issued a warning against Profit Cinda Ltd. The FCA has warned that Profit Cinda Ltd. is not authorized to provide financial services in the UK and that it is likely to be a scam.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Client Feedback
There are a number of negative reviews about Profit Cinda Ltd. online. Some traders have complained that they were unable to withdraw their funds from the broker. Others have said that they were misled by the broker’s marketing materials.
Feedback About Their Trading:
Traders who have used Profit Cinda Ltd. have complained about the high spreads and commissions. They have also said that the trading platform is slow and unreliable.
Feedback About Their Customer Service:
Customer service at Profit Cinda Ltd. is said to be non-existent. Traders have complained that they have been unable to get in touch with the broker’s customer support team.
How Can “Reviews Advice” Help You If You Get Scammed?
If you have been scammed by a forex broker, there are a few things you can do:
- Report the scam to the relevant authorities.
- Contact your bank and dispute the charges.
- Seek legal help.
Reviewsadvice can help you with all of these steps. We have a team of experts who can help you report the scam, dispute the charges, and file a lawsuit. We can also help you get your money back.
Final Thought
Profit Cinda Ltd. is a suspected scam forex broker. There are many red flags that indicate that this broker is not legitimate. If you are considering trading with Profit Cinda Ltd., we urge you to reconsider. There are many other, more reputable forex brokers available.
