Clearly, you guys did not yet see "James Bond 007 - Casino Royale" With profinum, your money is as safe as when bunkered at "Le Chiffre"
I thought I recognized the address. I run a small business in london doing IT consultancy. Because I rent I couldn't register my business at my home address so I needed a 3rd party to register the address at. It is at the same address on St. John's Street in EC1 as profinum. It is run by this company http://www.westbury.co.uk/virtual_office/thisisyouroffice/ basically this is a virtual office. All this sounds very sketchy and I would be careful.
Don't use this broker! They are very bad from what I hear. I got an email from someone that will go unnamed but here is the message: What also happened today was one of the girls made very good profits from trading in the last few weeks, and she sent in a withdrawal request to her broker, profinum.com. That broker made $3,000 in commissions from her trades, but when she decided to withdraw her funds, their CEO Miko, nulled her account, and told her that he considers all profits void, because she made a few trades there that profited only a few pips, and she held some of the trades for less than 90 seconds. That was freaking ridiculous. I can somewhat understand requotes, I can somewhat understand high spreads, I can somewhat understand closures of accounts, but a broker having the power to just take away your profits at the time of withdrawal is just freaking ridiculous. These f***ers are getting out of control. They might as well have a policy: "All deposits are final, no withdrawals are allowed, no profitable traders are allowed". And her profits weren't even news profits. They were trades taken during normal, very liquid market conditions. These suckers seem like a one man operation, that's based in the caymans or something. On their website, there is a question that was posted: "Do you trade against me?", you want to know their answer? Here it goes: "Do we take the other side of your trade and thus guarantee you the liquidity to trade? Of course we do. Does this mean we want you to lose and that we manipulate the rates against you etc.? Absolutely not!". This is not a broker, but a small market maker that in my opinion makes a profit when you lose, and loses a profit when you make pips. I am starting to even doubt that if all their clients wanted to cash out, they have enough funds to give them. They might be spending funds that their clients deposit to them for running expenses. That's just my opinion and I may be wrong, but please be very careful... It's obvious that these guys are acting on bad faith, and when someone is acting on bad faith any sleazy thing is possible. Lesson of the story...be very careful not only with this broker but with all the other new ones... Pull you're money out of Profinum.com quick!!! They are a Scam!
I posted this in the thread about Profinum I started but I'll post it here as well. I would love to just use the Globex for all my trading but I derive a large portion of my profits from the carry interest I get... Here's what I posted before: I run a large portion of my account like a hedge fund and have several "carry trades" that I work back to profitability... The only problem I have with futures is the expiration date and the carry interest I make in the spot market is an income stream. Does anyone know how the fxmarketspace (CME & Reuters) is going to work? My understanding is that they won't take any retial clients. Thanks for the input. Any other ideas are welcome.
Stay away from this firm. I just received the email below from a really good trader who was investigating them: