Beware! Foreveryouprofit.com is an offshore broker! Your investment may be at risk.
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Foreveryouprofit.com, or Forever You Profit, tries to convince us that it is a simple and safe way to invest in stocks, currencies and crypto assets. But the reality is different – this is not a real forex broker, but just another online scam. In fact, this website is almost identical to other scams we’ve reviewed, such as FastTimingFX. Let’s take a detailed look at why you should never trust your money to Foreveryouprofit.com and how to find a trustworthy forex broker.
Foreveryouprofit.com Regulation and safety of funds
|Guaranteed Funds||Segregated Accounts||Negative balance protection|
|UK regulated brokers||£85 000||Yes||Yes|
|EU regulated brokers||€20 000||Yes||Yes|
|AU regulated brokers||No||Yes||Yes|
|US regulted brokers||Yes||Yes||No|
If a financial services provider is legitimate, you will find on its website clear and detailed information about the company that owns and operates it, where it is based, and what licences it has. Genuine brokers also provide access to a comprehensive set of legal documentation. The availability of such information does not guarantee that it is not false or misleading. But the absence of these elements is very indicative that in all likelihood you are dealing with scammers.
Foreveryouprofit.com is completely anonymous and does not provide access to any legal documents. If you don’t know who you are dealing with and what terms you are agreeing to it would be an obvious mistake to put your money on the line.
On the website, we see a purported licence to operate in the United States. However, the document in question is on behalf of a non-existent regulatory institution and instead of a company name, it lists a brand name that is, on top of that, different from that of Foreveryouprofit.com – the CexInstant.
To operate as a forex broker in the United States, a company must be registered as a futures commission merchant and foreign exchange dealer with the Commodity Futures Trading Commission (CFTC) and to be a member of the National Futures Association (NFA).
Foreveryouprofit.com has come to the attention of another regulator, the U.K. Financial Conduct Authority, which has blacklisted it.
If you intend to invest in financial instruments, you should beware of the many fake brokers lurking online. Always check carefully whether the broker you choose really has the necessary licences. There are numerous benefits to working with a company that is truly authorised and supervised by a regulatory institution such as the CFTC in the US, Australian Securities and Exchanges Commission (ASIC), UK’s Financial Conduct Authority (FCA) or some EU regulator like Cyprus Securities and Exchange Commission (CySEC).
Clients of these brokers receive protections such as negative balance protection and segregation of the client’s funds from the broker’s funds. In the EU and the UK, brokers must also participate in guarantee schemes that cover a certain amount of the trader’s investment if the broker becomes insolvent. These guarantees amount to up to 20 000 EUR in the EU and 85 000 GBP in the UK. However, the likelihood of such a bankruptcy is low because regulators also have significant net capital requirements that companies must maintain – EUR 730 000 in UK and Cyprus, AUD 1000 000 in Australia and at least 20 million USD in the United States.
Foreveryouprofit.com Trading software
|Analytical tools||Auto trading||Custom indicators||Mobile apps|
|MT4||30+ indicators||✅||✅||Android and iOS|
|MT5||50+ indicators||✅||✅||Android and iOS|
|cTrader||40+ indicators||✅||✅||Android and iOS|
After registering an account, it becomes obvious that Foreveryouprofit.com does not have trading software. In the dashboard we see only simple charts with current bitcoin prices, which have no trading functionality. This shows that Foreveryouprofit.com is a low-effort scam, targeting people who do not know as they should expect from a genuine forex broker.
Legitimate brokers offer clients a wide selection of trading software, including desktop, mobile apps and web-based platforms. The most widely used platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.
Foreveryouprofit.com Trading instruments
As we have seen, Foreveryouprofit.com has neither the licence nor the software necessary to facilitate trading in financial instruments.
Foreveryouprofit.com Spreads and cost of trading
Legitimate forex brokers offer a variety of trading account types tailored to the needs of clients with different capital and investment intentions. These brokers also provide clear and detailed information on trading parameters – leverage, spread, commissions, order execution method, etc. We do not find any specific information on the Foreveryouprofit.com website.
Foreveryouprofit.com Maximum leverage
|UK regulated brokers||30:1||5:1||❌||10:1||10:1|
|EU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|AU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|US regulated brokers||50:1||❌||❌||❌||❌|
High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders.
Higher levels of leverage are only offered to professional clients who trade entirely at their own risk. If you are willing to take the risk of trading with high leverage and benefit from bonuses and promotions, the best option is to invest through an offshore division of an established brand.
Foreveryouprofit.com Deposit and withdrawal methods
|Deposit time||Withdrawal time||Price|
|Crypto||24 hours||24 hours||Fee depends on crypto|
The home page lists several popular payment methods:
But in the deposit menu the choice is only between cryptocurrencies:
This is typical of financial scammers. Cryptocurrencies are their payment method of choice because on the one hand they allow the scammer a degree of anonymity, and on the other hand they do not allow the scammed to ask for a refund.
Legitimate brokers typically offer clients a wide choice of transparent payment methods, including bank transfer, credit/debit cards and established e-wallets such as PayPal, Skrill or Neteller. If you’re interested in legitimate brokers that accept digital currency payments alongside conventional methods, check out this list.
Foreveryouprofit.com Minimum deposit
Leading global brokers offer starter trading accounts with a very low minimum deposit. There is no good reason to take risks with fishy websites like Foreveryouprofit.com.
Foreveryouprofit.com Withdrawal requirements
|Trading volume||Fee/Tax on withdrawal||Minimum withdrawal|
|Foreveryouprofit.com||Not specified||Not specified||Not specified|
|UK regulated brokers||No||No||No|
|EU regulated brokers||No||No||No|
|AU regulated brokers||No||No||No|
|US regulated brokers||No||No||No|
Since Foreveryouprofit.com does not provide proper legal documentation, it is unclear what traps the fraudsters may have set. Typically, fake brokers make withdrawing money impossible through huge fees and impossible-to-fulfil traded volume conditions.