MyProfitLive Review – Winner In Number Of Blacklists

MyProfitLive presumably empowers you to see new possibilities for your money and supposedly brings them to reality. We doubt, however, that such a prestigious group of nothing but leading Forex experts would be blacklisted so often.

As it appears, more than a few authorities have labeled this site and company as one dangerous cyber criminal who ought to get every investor’s money. Please consider reading our MyProfitLive review entirely to get fully familiar with the extent of this sham. 

Notorious Cyber Thief

It remains unknown where Myprofitlive Services Llc is located, although some third party sources suggest Switzerland headquarters. Their existence could be entirely a fabrication, since they do not appear in any legal register.

As our research shows, FINMA hasn’t licensed them and more than a few regulatory bodies have them blacklisted: CSA, OSC, ASC, CONSOB, IOSCO, AMF, MSC, AFM, CMVM, FI, and FCNB. The fact that this many regulators agree about MyProfitLive being a faux broker should be enough for you never to invest here. 

Your funds, privacy and personal information will be stolen and misused. Compensation scheme will not protect you and you will quickly remain indebted to the broker and manipulated into bankruptcy. 

Predatory Investment Strategy

The myprofitlive.com website was launched in 2022, and it is primarily directed towards these nations:

• Canada
• Poland
• United Kingdom
• Australia
• Estonia

The key to the MyProfitLive success, if you can call it that, lies with their boiler room agents. With this scheme, they approach the victim one at a time, and each person claims to have a different position within the company, and they all ask for more money.

One pitches the initial sale, the other pretends to be a financial advisor, the third is the account manager, and so forth. They all disappear when the client becomes suspicious, and delegate the issue to another solicitor.

Fake Reputation Trick

The involvement of review seller networks has blurred the truth about MyProfitLive on Site Jabber and Reviews.io sites. A more realistic picture can be seen on TrustPilot, where MyProfitLive did not make much effort to post fake reviews.

Many fraudulent brokerages, including Investo Capital FX which we reviewed earlier, use this strategy to deceive their investors. Contact our legal experts for help with MyProfitLive chargeback.

Trading Conditions Depend On Investment

Every MyProfitLive account advertises certain benefits and features. For a higher leverage of maximum 1:400, you’d have to buy the most expensive account. 

The same is with trading costs. Spreads on lower-tier accounts are higher, but the priciest package brings spreads that start from just 0.1 pips on EUR/USD.

Involuntarily Bonuses

Upon account purchase, MyProfitLive slaps a bonus amount on your total balance. Although a 100% bonus may seem like a real blessing, don’t rush into such conclusions. 

This gives MyProfitLive a chance to extort more deposits from you by requiring you to meet trading volume requirements or pay additional withdrawal fees.

Exaggerated Trading Features

Many of the trading features on MyProfitLive are either greatly exaggerated or simply false. For instance, while there is a good selection of trading instruments, it is far below the advertised 10,000+. Their claimed MT5 software is not what you’d expect either.

Available Trading Platforms

As we mentioned before, MyProfitLive advertises the MT5 as the main trading application. In reality, the software featured on their site is a simple Web Trader, similar to the one found with Neo Omatic.

MyProfitLive web trader uses imported prices and charts from Tradingview, but the software isn’t any more reliable because of it. Swindlers can easily change the orders so that you lose money anyway.

Mobile App

The myprofitlive.com website hosts a link to download an MT5 mobile from Google Play. This is a demo version that has nothing to do with actual trading conditions found with this broker. It’s all just a sham to make MyProfitLive appear as a quality service provider.

Selection Of Instruments

You won’t know which trading instruments are available with this faux broker until you create a MyProfitLive login. There are some vague general descriptions about asset types, but don’t expect an in-depth overview.

We had to access the web trader to get the actual list of assets:

• Forex (EUR/USD, USD/JPY, GBP/CHF, AUD/NZD)
• Cryptocurrencies (Bitcoin, Ethereum, Cardano, Ripple)
• Stocks (Rio Tinto, Alibaba, IBM, Ebay)
• Commodities (Natural Gas, Brent, Gold, Platinum, Soybean, Sugar)
• Indices (Nasdaq, S&P500, US30, HK50)

Trading Account Types

MyProfitLive offers a large selection of accounts, divided in two major groups: Standart and Professional. These are all tiered live trading accounts, but the broker never mentions the minimum deposit.

Accounts yield progressively larger benefits, such as greater bonuses and leverage increments. Neither a demo nor an Islamic account are available.

Standart account types:

• Basic – Leverage 1:200
• Explorer – Leverage 1:50; 10% bonus

Professional account types:

• Gold – Leverage 1:100; 30% bonus
• Platinum – Leverage 1:125; 50% bonus
• Premium – Leverage 1:400; 100% bonus

Unlikely Withdrawals

The whole point of the MyProfitLive website is to collect deposits and disappear into thin air as soon as victims ask for a withdrawal. The minimum withdrawal amount is said to be just $10, which isn’t a high requirement.

However, the chases for your payouts to process successfully are close to zero. Especially without proper legal help. Consider contacting our professional chargeback team if you wish to restore your deposits fast and safely.

MyProfitLive Doesn’t Allow Contact

Although the MyProfitLive scam will encourage you to contact them either via email, phone or online form, they will not respond. The point is just to seem responsive and dedicated to supporting users. Otherwise, MyProfitLive doesn’t care about your tickets and issues.

Seek Legal Help With Withdrawals!

Level head and timely action in case of scam is crucial for successful fund recovery. If you’re having trouble taking back your investment with this financial fraud, please contact our legal service. 

By using the Online chat feature you will quickly be connected to the first available agent. With their help, you can get basic information on what is necessary to do, and you can book your free consultation with a legal expert.

FAQ Section