Profit-Edge.online - What is it?
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Profit Edge Scam is a site posing as an automatic trading robot which is really just to get your phone number so that scammers can terrorise you by phone until you give them all of your money. They do this with a plague of phone calls demanding money be 'invested' on their hooky, offshore unregulated broker scam. The profit edge site is interested in getting the $700 USD commission for setting you up with the boiler room scam.
So in reality, the profit edge software does not actually exist. It is a front for a group of companies that operate offshore selling CFD 'trading' which is similar to spread betting, and it is operated offshore in less regulated nations. CFD 'trading' houses are illegal in the US and this spread-betting type activity carries a huge risk. 80% of retail CFD traders lose money, often all of it. You can even lose money you did not bet thanks to leveraged speculation, it is a very dangerous game!
Who Are Profit Edge?
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According to Google, the company operates out of a North London building:
Located in: North London Business Park
Address: Building 3, Oakleigh Rd S, London N11 1NP
"Thank you Profit Edge for this opportunity to make money
from my home
"I can say that these guys are the best when it comes to service
"From the process, to the accessibility of staff
, it’s all spot on."
"【Official Website 🥇】Profit Edge is a completely utilitarian stocks robot made to trade computerized monetary standards utilizing imaginative calculations. The Profit Edge innovation has been presented utilizing the most advanced programming...
So as you can see it all seems very legitimate according to Google. So let's do a little digging. Firstly, let's try the address and phone number.
The first thing to notice is that the number is not for profit edge at all, it is the building reception number, and no one was available to take our call when we rang, so we couldn't ask about profit edge and whether they were a tenant or not. The address in question does not have any listings for a profit edge company on any of their websites.
So what about the profit edge website, what can that tell us?
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Let's register so that we can see what happens:
So as you can see, you do not even register with the local site for some reason, you are actually sent to https://wise-investmentdaily.com/profitedgefx/?intgrtn_clickID=# which then sends you to https://clckclcktrkr.com/api/v1/brokers/login/redirect.php?signupID=# where you are signed up with the broker onlinetrading.capital which seems to be connected to all of these boiler room sites at the moment.
The URL redirect actually contains all of the details for your sign-up:
- intgrtn_clickID=[email string]
- intgrtn_custom2=[name string]
So as you can see the alleged broker site is given all of your details, including that you came from a Profit Edge site. The Profit Edge site is just a marketing campaign trying to sign you up with a broker, and that broker then enrols you in an account without even checking your real name. This is not a broker to be trusted, they should be asking for photo id of your address before even entertaining the idea of you as a trader. This is a massive red flag!
See the original website here: https://profitedge.online/
And you can find out about Profit Edge 2021 here.
Some links seem to indicate some affiliation with: https://lp.themarketsinsider.com such as https://lp.themarketsinsider.com/cm12/profit-edge/images/apple-touch-icon.ca8d64b2.png for some of their images.
They also use the scammer referral site: https://expandyourgainssecurely.com/profitedgefx/img/favicon.png for their favicon. Obviously they are getting sick of making a new site every time and are just using the same referral and image store for all of their sites now.
So Profit Edge is a CFD Broker Affiliate Site?
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That is pretty much true. Profit Edge, or at least the affiliates running Profit Edge, are looking to collect the seven hundred dollar payout that the CFD brokerage will pay them after they have successfully defrauded you of tens of thousands of dollars. Now you might be thinking that you have no money and so you can't really lose anything, but you would be mistaken. CFDs can be leveraged up to 1000x with some of these brokers, who are offshore and as a result completely unregulated by anyone in North America, Australasia or Europe. They have fine print at the bottom of every page explaining that you could lose all of your money and for good reason. A leveraged trade on a CFD can spiral out of control and you can wind up owing thousands of times what you pledged as a deposit without even realising it.
What is Leveraging?
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Well leveraging is a very odd thing. As much of the brokerage and stockbroker world is made for and governed by professional traders and brokers, it is designed for people risking other people's money, not their own. This means that there are all sort of odd rules in place to allow professional traders to risk big on very dangerous odds, but because they have a certain spread (their fingers in lots of different pies) they are happy to take certain risks in the chance that they might win big and have enough in their portfolio (the stock and other securities they currently own or are speculating upon) that they will take a huge risk on a certain speculation. This is where leveraging comes in. If you do not have the free liquidity to speculate on something you can arrange with a broker to leverage that wager. If you put in one dollar, they will put in another 49 or 99 or in some cases even 999. This is 1000x leveraging. If you lose you owe one thousand times the wager you made, but if you win you gain one thousand times. Now obviously a broker (who is very similar to a bookie) is not going to give a 1000x leverage on a product that they believe will give a return as on many of these products (CFDs/spread betting) are products that, just like a bookie, mean the return is coming from the broker themselves. They are going to want to leverage a product that you will lose money on, so they just made 100,000%.
Taking all of this into account, we then reach the unregulated, offshore CFD broker. These companies are often not even real, they are just a website that uses the same payment gateway as the last scammer broker and are just their to take your money. Whether there are ever any real CFD trades is unknown and there is no easy way to find out,. They will let you deposit two hundred and fifty or three hundred dollars, and then by leveraging, announce that you owe them $250,000 and try to make you pay. At the very least they will keep all of your money, and at the worst they will make you sell your house to pay for a fake debt. This is why CFD brokers and their affiliates are outlawed in the US and Canada and the same is happening in the UK and Australia.
Can I really Make £250 to £1400 per Day With Profit Edge?
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No, of course you can't. That would be stupid. How could you make back the investment on the same day? Why wouldn't you invest £10m and take over the world by the end of the month? These promises are not the promises of a business or individual that can be held accountable for their actions. It must be an offshore, unregulated scammer, or they would have to answer for these ridiculous promises and would end up in court. As we saw above, the broker you are likely to be registered with while using this Profit Edge site is a broker that is unreliable and unaccountable for their actions, and maybe even a false front for a cryptocurrency scam. Some of these brokers just show a page that appears to be a trading app when it is actually just a screen designed to keep you waiting while they run off with your cash.
Some of these websites, ostensibly operated by real brokers, will let you invest without asking any questions. You then spend a few weeks looking at an interface with all sorts of leveraged odds on CFDs for various cryptocurrencies and ForEx markets, which seems to be making money of its own accord. This is a trick. They use the idea of auto-trading robots to persuade you to deposit everything that you have. Once they are sure that they have everything you have saved, they start to shut down their operation. The numbers they have been calling from begin to disconnect. The emails start bouncing back. If you manage to login and try to withdrawal, the system just keep asking you for more and more documentation, such as passports and driving licenses (which they will use to make counterfeit versions from) and eventually you will realise there is no way to withdrawal. This is the boiler room scam.
I've Signed-up With Profit Edge - What Should I Do?
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If you give these people your phone number then you will need to change your number. They do not stop calling, these people are desperate and often in deeper financial trouble than you. They are calling from a frightening environment and are pushed extremely hard to get their commission. The gambling losses on spread betting go straight to the bookmaker rather than into shares and so the bookmakers are very demanding of their staff to get them to produce results. They will not stop once you have paid your $250, they will ask for $30k - that is thirty-thousand dollars pure profit if they get the right person on the phone, so you can imagine how desperate these people can become. Once they have been doing it long enough, they may very well start their own CFD trading company, as they have been rinsed of all empathy by the time they have completed their term.
You can find out about Profit Edge 2021 here.
VERDICT: PROFIT EDGE IS A SCAM!!
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