ANSWER Profiforex is not overseen by any regulatory bodies and we advise not to deal with it even though it offers seemingly attractive deals.Profiforex claims to be a trusted broker but provides no details about its regulatory status, which is a red flag, as a legitimate one always prominently displays its accreditation and licenses. As per Belize law, the provision of financial services or products by brokers in Belize must be authorized by the Financial Services Commission (Belize FSC). However, our search for this broker in the Belize FSC didn't yield any results.Regarding your question, Profiforex is not regulated. Entrusting this broker to control and hold your funds or trading with it is very risky, as there are no safeguards in place to prevent fraud or theft. As a result, we strongly suggest investors avoid unlicensed brokers like Profiforex and opt for fully regulated ones instead.
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