Beware! The Profit Formula is most probably a scam system! Your investment may be at risk.
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Probably all of us have had moments banging our heads against the wall trying to figure out a plausible way for profiting in forex trading, especially if it hasn’t been going our way. If only there was a website called “profit formula” where all our problems would be solved. Fortunately for us we actually we came across such a website! However, don’t jump to optimistic conclusions just yet. “The Profit formula” is simply part of the newly-spawned crypto robots in online trading with always exciting proposals for desperate traders. They are often made very clumsily with no effort in hiding their ill-minded nature, and usually with very poorly thought out names. There is usually nothing more than a trailer-video on the website, and in this case, the video only tells us of the advantage in trading with exactly this crypto robot and how they only “wish to help you make your money grow”. We also discern that with The Profit Formula we have the opportunity to make as much as $13,000 in our first 24 hours of trading. Let us have a closer look and see exactly what this profit formula is.
On the website we see nice-looking pictures of random smiling people which presumably should show us how happy the client base of the crypto robot is with their dealings. However, nobody should buy that because we have zero certainty whether these pictures aren’t taken straight from the internet only for the pose.
No company, no address, no country of origin
Our thorough research did not bring any surprises – as usual with crypto robots – which are pretty much all the same – we did not find any information on the website regarding the registered address, the supposed company behind the operation, nor even the country of origin. This is nothing out of the ordinary when dealing with crypto robots. The effort in finding a fake registered address on part of the scammers isn’t even worth it to them, because they will most likely be forced to create a new website, after the last is exposed by reviewers online. We had such a case with a robot that used different logos to target people from various regions in the world. All this highly inclines us to believe that The Profit Formula is only used as a bait for traders who’ll share their personal info hoping for a quick buck. And honestly, if the name “The Profit Formula” does not scream bait to all traders, we cannot possibly imagine what could.
This is perhaps the most popular scam in the trading world. Precisely such websites, promising unrealistic winnings through crypto trading, mislead traders into registering and carelessly giving away their address, phone number and email. Minutes later, that same personal data is sent to brokers and the registered traders begin getting phone calls from unregulated forex brokers like OB Trend or Bronze Markets urging them to invest. The Profit Formula would most likely cash in a fat commission every time a redirected trader invests with the brokers.
No verified track record
The absolute lack of assurance for results is perhaps the biggest problem with crypto robots such as The Profit Formula. In the forex trading world there are social platforms such as eToro or Zulutrade which allow you to search through the profiles of different traders, taking notice of their track-record in trading, whether losses or winnings are the majority. All this transparency further helps trust to be created between the client and provider. Something which is seriously missing with The Profit Formula and traders are left relying only on the word of a crypto robot, and that hardly is enough.
No regulatory supervision
We should also point out that such operations are not overseen by any relevant authority. The people behind The Profit Formula are not bound by any government regulator and they can do pretty much as they please.
Last, but not least – mere way in which such operations seek funding should raise red flags. If The Profit Formula truly had something of value to offer, they wouldn’t be relying on cheap traffic through a badly-done website and a bait-click name, but would have found alternative means of financing itself. A popular option among today’s crypto companies is raising money through crowd-funding and utilizing the power of the social media. However, such options are available only for legitimate companies, and The Profit Formula most certainly is not among those.
Having in mind everything that was laid out – we must say that The Profit Formula comes across as a standard scam operation and we advise those interested to reconsider.