ProfitLevel Review

profitlevel.com in short

PT. PROFITFXLEVEL (ProfitLevel) is a registered brand name of BCM Begin Capital Markets CY Ltd, which is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC). ProfitLevel is a reliable STP broker that provides complex financial instruments with the priority to the security and protection of the client’s funds, the company claims. Customers can trade currency pairs, commodities, indices, and shares via the professional terminal MetaTrader 5 (MT5). Spreads are floating and you can open a live account by investing at least USD250.

The Regulation of the Company

The regulation of the brokerage company is one of the most important things and worth checking out. The website profitlevel.com is owned and operated by BCM Begin Capital Markets CY Ltd, a Cyprus Investment Firm (CIF), supervised and regulated by the Cyprus Securities and Exchange Commission (CySEC) with the CIF license number 274/15. The company operates and provides its services in accordance with the provisions set out in the Markets in Financial Instruments Directive (MiFID II). Client’s funds are held in separate accounts within secure banking institutions. The company is a member of the Investor Compensation Fund (ICF), which compensates clients up to EUR20,000 in the event of bankruptcy of BCM Begin Capital Markets CY Ltd.

Account Types

A demo account is available, and it is preferable to open this type of account before you start trading for real money. Trading here is risk free because the money is virtual. The demo account offers access to all the same features as the real one but is funded with virtual money. It lasts 30 day and after that period you can upgrade it to a real account.

There is only one type of real account, so trading conditions are equal for all categories of traders. Spreads are floating, and the average one is 3 pips for the EUR/USD pair. The minimum deposit is USD250, and the leverage can be up to 1:100 for professional clients. You can also hold physical shares, but this involves a management fee of 2% per lot traded.

What Type of Broker the Company is?

The document, which usually shows how the company executes your orders is the Order Execution Policy, which the company provides as ‘Summary of Best Interest and Order Execution Policy‘. The Best Execution Factors paragraph shows that the company does not execute the client order in CFDs as a principal to principal against the client, i.e., the company is not the execution venue for the execution of the client’s orders. The company transmits client orders or arranges for their execution with a third party(ies). Financial institutions acting as execution venues are JFD Group Ltd, TOPFX Ltd, Naga Markets Ltd and Goldenburg Group Limited. This means that ProfitLevel transmits orders on the external market – its execution venues using the Straight Through Processing model (STP), transferring the risk and avoiding the main conflict of interest.

The same document reveals that stop loss orders are executed at the first available market price, which means they are not guaranteed. There is a warning about possible slippage and the price at which a market order will be executed is not guaranteed and may be executed at a worse or better price, known as negative or positive slippage.

In addition, the same document shows that all the retail clients are covered by the Negative Balance Protection. The company ensures that the maximum loss for the Clients on an account basis, never exceeds the clients’ available funds in the specific account. Thus, clients` balances are never negative, so you will never lose, more than what you have already invested, even in cases of strong fluctuations.

Fees

Be aware of the company fees, stated in the Trading Conditions section of the website. If you trade Italian shares and indices, there will be an additional tax depending on the nominal value. It starts from EUR0.25 for EUR2500 and reaches EUR200 if the nominal value is greater than EUR1 million. If there is no trading activity in your account for more than six months, it has become inactive and will be charged an inactivity fee of EUR89. The inactivity fee will be charged each three months, starting from the first month of inactivity. Of course, there are common fees such as spread, swap and rollover.

Deposits and Withdrawals

Deposits can be made by bank transfer and credit, or debit cards. The company declares that it does not charge deposit fees. However, customers cover all charges imposed on payment providers.

You are required to withdraw your funds back to the same bank account, where the money was originally sent from. If the withdrawal amount exceeds the amount, which was initially deposited, any profit will be sent to your bank account and you must provide the bank details. The company proceeds with the payment either on the same day or on the next working day. However, the time needed for your funds to reach you may vary depending on your selected payment method and can be up to 5 business days. ProfitLevel does not charge fees for withdrawals as well. However, customers cover all charges imposed on payment providers.

Trading Platforms

ProfitLevel provides clients with the professional platform MetaTrader 5 (MT5) that is suitable for all types of investors due to its extensive functionality. MT5 is a fully flexible terminal that offers modern tools for technical analysis and is suitable for beginners and professional investors. It is available as a desktop version and as a mobile app for iOS and Android smartphones.

Assets

ProfitLevel offers four asset groups for trading:

Currency Pairs – More than 60 major, minor, and exotic currency pairs can be traded. The spread is floating and the typical value for the EUR/USD pair is 2.5 pips.

Indices – You can trade 15 of the most popular indices globally. The typical spread for DAX30 starts at 10 points and for Dow Jones Industrial Average is 12 points.

Commodities – CFDs on 17 commodities are available for trading. They include Gold, Silver, Platinum, some other metals, and cereals. The typical spread for the Gold CFD id USD1 and for the Crude Oil it is fixed at USD0.07.

Shares – You can trade CFDs on shares of companies from Czech Republic, France, Germany, Hong Kong, Hungary, Italy, Japan, Netherlands, Saudi Arabia, Spain, Switzerland, UK, and USA. The necessary margin is 20% and you will be charged a commission of 0.2%.

Summary

ProfitLevel is licensed and regulated by the CySEC and this license allows it to provide financial services across European Union (EU). BCM Begin Capital Markets CY Ltd – the company that operates the profitlevel.com website uses the STP model to execute client orders and in general, the main conflict of interest does not exist. The company provides a wide variety of trading instruments with floating spreads through the professional trading terminal – MT5. There is one type of live account and you can start trading by investing at least USD250.