False Claims with Nothing Fruitful to Offer
Any1Profit claims to be in operation since 2012. The name of the parent firm and the address of the company cannot be verified. The owner’s details are not mentioned anywhere on the website. The company has tried its best to hide their real identities and to operate from an unspecified location. Any broker company needs to be a registered company to ensure the safety of the traders and must adopt fair trading practices. Any1Profit fails to provide them both. The base of the company is not clear, nor is its origin.
Working under 2 separate laws?
Not Under Saint Vincent and the Grenadines Laws
The company in its terms and conditions has mentioned that it is under the jurisdiction of Saint Vincent and Grenadines Laws. It can be believed that the company must have been registered somewhere in Saint Vincent and Grenadines region.
This belief soon turns out to be a lie as the company has not given any registered address and is not regulated by the Financial Services Authority of Saint Vincent and Grenadines. The FSA is the regulating body that issues licenses to the financial institutions operating in the region. A regulation from FSA means that the broker is legally providing its services to the traders. It also keeps the trader on the safer side in case the company went bankrupt. The absence of Any1Profit form the registers of the Financial Services Authority of Saint Vincent and Grenadines can be verified at the link provided in the references.
Not under Marshall Islands Law
Secondly, the company flaunts in its terms and conditions of bonus that the company is governed by the laws of the Marshall Islands. There should be no shock in learning that it is not registered or regulated under the Financial Services Volunteer Corps. Thus, the company does not have any relation to the Marshall Islands.
Any1Profit review in this way concludes that the company is not registered or regulated under the SVG Financial Service Authority and also not under the Marshall Islands Laws’. It is an offshore broker with no details about the address of the company. The nitty-gritty of the proprietors is also missing. If the location cannot be established, nothing can be said about the registration and the regulation.
Warning by the FCA
The reputed Financial Conduct Authority of the UK has released a red flag against the fraudulent activities of the company. To our amazement, owners have not given the exact address of the company even to The FCA. The reputed FCA has warned against the illegal services provided by the company. The Any1Profit is not registered with the regulator for providing its services to the UK traders.
Trading Platform and Accounts
Any1Profit is into Forex, Commodities, Stocks, Indices, etc. The non-appearance of demo accounts hints at the fake trading conditions provided by the company. The different types of trading accounts provided by the company are
- Starter Services Account: It starts with the minimum deposit amount of $500. It is 10 times higher than the regular minimum deposit of $50. The spread and leverage conditions are also not defined.
- Basic Services Account: It requires a minimum deposit of $10,000. There is no differentiation in the services provided in the starter account of the company.
- Advanced Services Account: The advanced services account starts with a minimum deposit of $25,000. It is believed to give you strong customer support. The level of professionalism of the support and the quality of technical support is not reliable.
- Premier Services Account: The minimum initial deposit of $ 100,000 and a rebate of 10% on the commission is said to be provided in the premier services account. The mammoth initial deposit itself is high to be considered as a minimum amount since it is the total amount of the profits earned by the trader.
The trading conditions are not specified by the company. The leverage ratios and the spread are not defined in any of the trading accounts. If the trader is not having proper knowledge of the market, how does the execution of trades take place?
The different types of trading accounts are categorized based on minimum initial deposits. There is no difference based on the trading conditions or the services associated with the account. It looks more like they have done hypothetical differentiation to satisfy the trader. There are no benefits associated with trading accounts.
The company on one side claims to be on the Meta Trader platform while on the other side maintains that it is using the classic PandaTS CFD platform. Less can be drawn about the reality of the trading platform and the trading conditions on a heavy traffic trading day.
Meta Trader is the trading platform provided by MetaQuotes Software Corporation Limited. It was introduced in the year 2005. It is the best trading platform in terms of security and reliability. It is the most advanced trading platform with different trading orders. It offers a demo account along with a Multi Language support service. That is why it is the czar of trading platforms.
Undefined deposit and Withdrawal Methods
The company has not defined any methods for deposit and withdrawal. In the terms and conditions of the company, the company has mentioned the charges related to card transfer and bank wire transfer. So, it is believed that the company is accepting card transfer and bank wire transfers. More payments like e-payment platforms Neteller, Skrill, etc. add to the vows of the traders.
The Dormant fee of $100 is charged in case an account is inactive for 45 days. First of all the amount of fee is almost double than the normal dormant account fee of $50. Secondly, any broker charges the dormant fee after 6 months of inactivity of the account. But, Any1Profit is charging it after 45 days. It is not an ethical fee deduction and is not under any of the regulatory body laws.
In genuine withdrawal charges and no show of Skrill
The company charges a 3.5% of the withdrawal amount while using the credit/ debit cards. The credit cards can be used only when the deposit is done within 6 months of the date of withdrawal. The time frames and the fee charged by the company are high as compared to the other genuine competitors. More genuine options like e-wallet Skrill are absent, which raises many eyebrows. Skrill has stopped working with the unregulated offshore brokers. It protects its customers under the new “anti-scam policy” which does not allow any payments of the customers to the illegally operating offshore broker companies. Any1Profit has not left any stone unperturbed in leaving the traders to gripe over the conditions.
Website and Online presence
As mentioned earlier, the company claims to be in operation since the year 2012 but it is found that the domain of the company was registered in the year 2019 only.
The ownership and the address of the company are kept hidden by the use of the paid services. The company is not present on any of the social media platforms like Facebook, Twitter, etc. A sluggish responding website with no social media presence is the indicator of the level of professionalism adopted by the company. The broker must provide all of the necessary details over the website and must be in touch with the customers through social media as well.
Faint Technical Support
A1Profit does not provide any dedicated team of experts to extend technical support to the traders. Live chats, dedicated regional numbers are absent. The numbers for Bulgaria, the UK, and Sweden is provided where it is already not allowed to do the businesses. These numbers are thus meaningless. The quality of the technical service provided by the company cannot be trusted and the company has already failed in providing proper data to the traders.
Any1Profit has not provided details about the ownership and the headquarters. It hasn’t done to provide the best trading accounts, demo accounts, and trading conditions details. With no strong customer support and very little information on the website, it is not a reliable broker at all. Any1Profit is not a reliable and credible broker firm. I don’t recommend doing business with them.
Any1Profit shows too many red flags to ignore. It is highly suggested to avoid them!
- Warned by the FCA
- Expensive accounts & services
- Unknown deposit & withdrawal methods
- High fees
- Lies about origin
- Zero customer support