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ApexProfits Review | "Best platform for margin trading" or a Scam?

by Kevin Berry
Rating: 
  1/5   Reviews: 1
ApexPlatform - logo

“Best crypto and forex broker” and “Best platform for margin trading” – it’s astonishing how easily and simply brokerage companies invent various awards for themselves. ApexProfits is a rather secretive organization that offers its services to all comers. Moreover, positive reviews can be found online, but we recommend not to trust them. The fact is that the company hides its legal address, date of establishment, license, and other aspects of its activities. So, it is more likely a scam rather than a safe and comfortable platform for trading.

Highlights

🏛️ Country
⚠️ Regulation
🖥️ Website https://apexprofits.com/
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit $250
⚖️ Minimum and Maximum Leverage 1:200-1:500
⚙️ Trading Platform WebTrader
📨 E-mail support@apexprofits.com
📞 Phone

First Impression of Apexprofits.com

If there were an award for the lowest quality and most useless website, ApexProfits would undoubtedly take first place. An honest and transparent broker will tell you how many years it has been in operation, where its headquarters is located, provide licenses and contacts, and also detail the trading conditions. However, none of this is present here.

Instead, the company has invented some awards, pseudo-advantages, and fake merits. The site is created using a ready-made template, although not the most popular and widespread one. At the same time, ApexProfits even forgot to add legal documents, such as an AML&KYC policy or user agreement.

ApexPlatform - site

The site is only in English. At the top, there is a panel with the main sections describing the services, opportunities, and activities of the broker. There are also buttons for login and registration. In the footer, you can read a small warning about the risks. In conclusion, it’s worth mentioning that ApexProfits has presented users with a rather dull site that does not disclose much of the important information.

Partnership and Bonuses

Traders have the opportunity to receive a deposit bonus to increase their capital. However, we warn that this is not free money. ApexProfits does not disclose what needs to be done in order to withdraw these bonuses, as well as the profit earned with their help. Most likely, users will need to execute a huge volume of trades within a certain period of time. It’s unlikely that these conditions will be soft and simple. Moreover, the bonus amount ranges from 30% to 100%, so we advise against taking advantage of these “generous” offers.

The affiliate program is an excellent tool for extra earnings, but we cannot be sure if it exists here or not. ApexProfits does not mention it on the website, but perhaps there will be some hints about its presence at the time of registration or in the personal account.

Account Opening on Apexprofits.com

Let’s try to register an account to find out what kind of personal cabinet is offered to traders. So, the account creation process at ApexProfits is quick: you need to provide your name, contact details, and password. However, for some reason, the broker does not ask to review the user agreement, although this is a standard and necessary practice, as the client should understand and know the rights and obligations of the company.

Registration

The interface of the personal cabinet is simple and understandable, without any excess. It is separate from the trading platform. A work panel is located on the left.

ApexPlatform - personal cabinet

According to the “account summary” section, ApexProfits offers traders a demo account. However, it cannot just be opened. For this, it is necessary to contact a manager, but why? Why can’t clients freely open a demo account and start testing the platform? We would gladly do so.

In addition, users can change their personal information, upload documents for the KYC procedure, perform financial transactions (deposit/withdrawal), and track statistics for the affiliate program. After all, the referral program does exist in ApexProfits. It’s a pity that its terms are secret.

Overall, the registration is quick, the client portal interface is understandable, but we were puzzled by the lack of an email confirmation of registration. And of course, the absence of legal documents. The client creates an account but does not know all the terms of cooperation, so the company can manipulate as it wishes.

Verification

The verification procedure is mandatory at ApexProfits, and it is unlikely to be different from other companies. The broker also requires uploading two main documents:

  1. Proof of Identity. Color copy or photo of passport/driving license/government ID card.
  2. Proof of residential address. Bank statement or utility bill, and the document must be no older than 3 months.

How long will the document verification take? It is unknown. Are any additional documents needed? That is also unclear. ApexProfits does not provide an AML & KYC policy that would answer these and other questions.

Pros
  • None.
Cons
  • Policy AML&KYC is absent.

Trading Software

The trading terminal plays a crucial role for clients, so the platform must be not only convenient and comfortable but also advanced, with a variety of different tools. This is not the case with the ApexProfits platform.

The software does not require downloading and installation, as it operates from any browser, including mobile ones. This solution does not seem convenient and practical because a separate mobile and desktop application would be more optimized, comfortable, and practical than a web-based version.

Terminal

The functionality for technical and graphical analysis is taken from the popular service TradingView, so clients have access to various lines, Fibonacci, harmonic models, shapes, and so on. The timeframes are very limited: 1 minute, 5 minutes, 30 minutes, 1 day, and 1 week. What about 1-4 hours? It’s also possible to customize indicators and change the view of charts, for example, bars or lines.

How can this platform be considered the best? We do not understand. The functionality is severely limited, only web-based, and there is no possibility to connect auto-trading and other advanced options. So, ApexProfits has overpraised its terminal, which is not surprising, as brokers often exaggerate the capabilities of their platform to create a strong impression and interest among clients.

Features ApexProfits WilliamYoungs Smart Ix Shares
Demo Account ✔️
Mobile App
Own Development

How Can I Trade With ApexProfits?

To examine the trading conditions, we need to look into the types of accounts, as this determines the sizes of spreads, leverage, and other parameters.

All Info About Accounts

ApexProfits offers four tariff plans:

  • Standard. The minimum deposit is $250. Spreads from 1.5 pips, leverage up to 1:200, bonus up to 30%, customer support 24/5, and an introductory call from a personal manager.
  • Silver. No less than $2,500. The spreads are the same, leverage up to 1:300, bonuses up to 50%, assistance from a personal manager, investment research, and analytics from Trading Central.
  • Gold. From $10,000 and above. Spreads from 0.8 pips, maximum leverage 1:400, bonus up to 70%, and additionally, a monthly session with a senior market analyst.
  • VIP. From $50,000. Zero spreads, leverage up to 1:500, bonus times two, exclusive strategies, and the development of an individual business plan.

It’s evident to everyone that the logic behind the account types division is simple – the higher the account type, the more favorable the conditions. Do you want higher leverage and lower spreads? Then increase your deposit. Need additional services? Please invest more money. A classic tactic of dishonest and illegal brokers. Thus, ApexProfits increasingly raises suspicions.

Account types

The trading conditions offered by ApexProfits can be easily commented on:

  • The minimum deposit is $250. This is a high starting deposit, especially compared to other, more renowned and verified firms where the threshold is from $1-10.
  • A leverage of 1:200-1:500 indicates a lack of regulation. The fact is that financial commissions prohibit brokerage intermediaries from offering such huge leverage.
  • Bonuses of 30%-100% – the same issue as with the leverage.

Additionally, it is important to note that a table with current spreads is not provided, therefore it is unknown what the actual spreads are. ApexProfits also does not disclose any commissions, although it may only charge spreads, but then zero spreads on the last tariff look suspicious. If both the spread and commission are equal to 0, then how does the platform earn? The total secrecy of the company is also a significant red flag.

Pros
  • Users can test the service with a demo.
Cons
  • Relatively high minimum deposit.
  • Business model with conflict of interest.
  • Trading conditions hint at the lack of a license.

Market Analysis and Education With Apexprofits.com

Additional features are described in the tariff plans, but besides them, the broker offers other tools and resources. For example, educational articles about asset classes, a table with online quotes, an economic calendar, and an FAQ. Yes, a rather meager list. Meanwhile, ApexProfits does not provide a calculator for calculating position parameters, free fresh analytics, and other useful widgets.

Deposit, Withdrawal, and Fees

There are many ways offered to transfer money here. These include credit/debit cards, bank wire transfers, and electronic wallets. Also, judging by the logos placed on the main page and personal account, ApexProfits offers to use cryptocurrency for money transfers.

Without verification, it will be impossible to withdraw funds. Also, after submitting a withdrawal request, one will have to wait up to 5 working days until the application is processed. This is a very long term, which is a downside for clients. ApexProfits does not specify the size of the commissions, so they are presumably absent.

Features ApexProfits Kiexo InterActive
Debit/Credit Cards ✔️ ✔️ ✔️
Electronic Payments ✔️ ✔️
Crypto Transfers ✔️ ✔️
Deposit Fee
Withdrawal Fee

How Can I Contact It?

An interesting situation concerning contact information. The firm offers to contact managers only via email, but you can also try to leave a message in a special feedback form. Meanwhile, ApexProfits provided a fake email address, so the only option remains the feedback form. Does the broker not want users to contact its representatives?

Fake email

It’s also worth noting the absence of a phone number for calling the hotline and online chat as a way for prompt communication with support managers. Even social media accounts are absent.

Pros
  • None.
Cons
  • It is unclear how to contact managers.
  • The email is fake.
  • No phone and no online chat.

Is ApexProfits Dangerous?

Throughout the review, we had suspicions regarding the reliability of the company, but there was no absolute certainty. Although the fake contact information openly signals the fraudulent nature of ApexProfits, we will not rush to conclusions but instead check the essential details of the company’s operations – its duration of operation and legitimate status.

How Long Does The Broker Work?

We are dealing with a super-secretive company because many aspects of its operations are unknown, including the date of establishment. We are left with two options to find out the broker’s launch date – the first reviews on the internet and the domain of the official website.

Reviews began to be published quite recently, in 2024. At the same time, the domain of the official website was registered in January 2023 and updated in 2024. Snapshots from WebArchive showed us that in 2020 the domain was for sale, so it is quite logical that ApexProfits was only launched in 2024.

Domain

How Is ApexProfits Regulated?

Regarding regulation, the situation is much simpler. The firm does not provide a legal address and does not claim to have a license. Although any broker operating under the control of regulators will surely display their license prominently. In any case, we cannot even check the registries for the presence of ApexProfits, as we simply do not know where to check.

Features ApexProfits Vertexfy AME Capitals
European Zone
Asian Zone
American Zone
African Zone
Offshore ✔️ ✔️

Frequently Asked Questions (FAQ)

Kevin Berry
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Expert Opinion

Online, you may see positive reviews about ApexProfits, but don’t think of believing these authors. I am 100% sure that these comments are bought, meaning they are fake. A broker without a license, starting operations at the beginning of 2024, unable to provide a legal address, using a template site, listing fake contact information, and offering unfavorable trading conditions – how could such a platform have positive reviews? It’s a clear scam!

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The level of trust
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1 review about ApexProfits

Johnatan March 14, 2024 - 13:39
How can I get my money back from here?
The level of trust
Quick withdrawal of funds

Hello. The fraudsters from apexprofits refuse to return my money. What should I do? How to act in such a situation? I did not like the trading conditions and the platform, and they never opened a demo account for me. I couldn’t get in touch with the managers. This is not normal; it’s some kind of fake and fraud.
Thank God, I only invested $1,000. It’s not so bad to lose such an amount, but I would like to warn other people about the scam.

Reply

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