pic

ToroProfit Review | Access to Superior Trading Conditions or a Scam?

by Kevin Berry
Rating: 
  1/5   Reviews: 3
ToroProfit - logo

ToroProfit, a new brokerage firm, is asserting that clients will have access to superior trading conditions. They will have the opportunity to trade numerous assets, benefit from narrow bid-ask spreads, high leverage ratios, and other favorable features. It’s important to verify such claims, since scammers are also known for making grand promises and not delivering. We will conduct our own analysis and investigate if there are any negative reviews about this company.

Highlights

🏛️ Country
⚠️ Regulation
🖥️ Website https://toroprofit.io/
🎲 Demo Account No
⏳ Start Time 2022
💲 Minimum Deposit $250
⚖️ Minimum and Maximum Leverage
⚙️ Trading Platform WebTrader
📨 E-mail support@toroprofit.io
📞 Phone

First Impression of Toroprofit.io

The official ToroProfit website greets visitors with bold words such as “pride and passion meet success.” However, it seems highly doubtful that this platform will achieve any success. Looking at the homepage, we get the impression that the designer was intoxicated. We cannot explain the chaotic and inconvenient arrangement of elements in any other way. Additionally, the website takes a very long time to load, exacerbating the user experience. Overall, the first impression of toroprofit.io is simply terrible.

ToroProfit - website

Partnership and Bonuses

It is evident that the broker has an affiliate program, as there is a field for entering a promo code during registration. However, there is no detailed information on the rewards that traders can expect for inviting referrals.

Furthermore, ToroProfit offers bonuses to traders’ accounts, which must be worked off before withdrawal. Such “gifts” are prohibited by all reputable regulators, but apparently, the broker doesn’t seem to care about this.

Account Opening on Toroprofit.io

The registration process is quite primitive. Customers are required to fill out a simple form, which asks for their name, phone number, email address, physical address, password, and the aforementioned promo code. However, entering the promo code is not mandatory, and clients can open an account without it. Interestingly, the broker does not verify the accuracy of the email address or phone number provided by the customer.

Registration

The client portal offers fairly standard functionality. You will be able to deposit and withdraw funds. There is also a section where you can view data on your invited referrals. Additionally, you can make changes to your profile settings and upload documents.

ToroProfit - Client Portal

Verification

You can verify your account directly in the Client Portal. All you need to do is upload a few documents. As usual, you will need to confirm your identity and residential address. Additionally, ToroProfit requires a photo of your credit card, DOD, and may request some other documents if necessary.

Pros
  • Convenient document uploading.
Cons
  • Requiring a lot of personal information
  • Requiring taking a photo of your credit card.

Trading Software

The ToroProfit platform is only available through a web terminal and can be accessed on desktop and mobile devices. However, the platform’s functionality is limited, and it is not very user-friendly. Solid brokers typically do not choose such a platform, as it does not provide the necessary tools and features for successful trading. It is a poor choice for traders looking for a reliable and efficient platform.

WebTrader

Features ToroProfit Axi  Oanda
Demo Account ✔️ ✔️
Mobile App ✔️ ✔️
Own Development ✔️ ✔️

How Can I Trade With ToroProfit?

We do not find this broker promising from the very beginning. However, let’s see if its trading conditions impress us positively.

All Info About Accounts

ToroProfit offers a limited variety of account types, with only three options to choose from. The first account is Bronze. It is designed for beginners with a minimum deposit requirement of only $250. However, the only additional service available is copy trading, and the bonus is only 5%. The Silver account requires a deposit of $2,500 and offers stop-loss and take-profit options, as well as negative balance protection. Surprisingly, these features are not available in the Bronze account, although we thought they were standard for any broker. The last account is the Gold account, which requires a deposit of $25,000 and offers a higher bonus of 20% for traders. Also, you can get a personal manager and trading expert, and even a personal financial advisor.

Pros
  • Low minimum deposit requirement.
Cons
  • Stop loss and take profit options are not available for all account types.
  • Ridiculous additional services.

Market Analysis and Education With Toroprofit.io

As you may have guessed, ToroProfit provides education and market analysis only to VIP clients with a Gold account type. However, all of these services are highly questionable. There is no evidence that the company’s employees actually have the necessary knowledge and skills. Not a single market forecast is publicly available. There are no decent educational materials on the website either. In general, we would not recommend relying too much on the forecasts of these “experts”.

Deposit, Withdrawal, and Fees

ToroProfit lists Visa, Mastercard, and BitPay as payment methods, but the size of the fees for deposit and withdrawal is not specified. There is also no information on how long it will take for your funds to be credited to your account. This lack of transparency and clarity is a concern, and it’s important for traders to have a clear understanding of the fees and timelines involved in transactions.

Features ToroProfit IC Markets  Gainful Markets
Debit/Credit Cards ✔️ ✔️ ✔️
Electronic Payments ✔️ ✔️
Crypto Transfers
Deposit Fee ✔️
Withdrawal Fee ✔️ ✔️

How Can I Contact It?

As we looked at the Contacts section, we found it somewhat amusing. For example, under the Customer Support Phone Numbers heading, there are no phone numbers listed at all. There are only a few email addresses. Emails to the broker can be sent from 10am to 7pm CET. The office address is also not listed in this section.

Pros
  • There is an email address.
Cons
  • Incomplete contact information
  • No office address was provided.

Is ToroProfit Dangerous?

While we were studying the trading conditions and other offers of the broker, we did not find any pride, passion, or, of course, success. Something tells us that ToroProfit is not worth your attention at all.

How Long Does The Broker Work?

Nothing is outstanding in the company’s lifespan. This broker is a newcomer. Domain verification showed us that the website was registered only on October 3, 2022. The first reviews about this project started a little later. Also, we want to add that in five months of existence, they could have at least brought the website into relative order.

Domain info

How Is ToroProfit Regulated?

Checking the official registration and license also amused us. The creators of ToroProfit are either too lazy to come up with a proper story, or they think their clients aren’t very smart. In the user agreement, the Cypriot license number and the company registration number are stated. However, further, in the text of the agreement, it is specified that the broker operates according to the laws of Estonia. In general, of course, all the legal data of ToroProfit do not belong to it. License number 138/11 belongs to a completely different broker, Topfx. There are also no ToroProfit brokers listed in the Estonian registry.

ToroProfit - license check

Features ToroProfit InvestFW  Oanda
European Zone ✔️
Asian Zone
American Zone
African Zone
Offshore ✔️ ✔️

Frequently Asked Questions (FAQ)

How to Trade With ToroProfit?

You need to first register on the website by filling out the necessary information. Also, you need to verify your identity by submitting the relevant documents. After that, you can fund your account and start trading.

Is ToroProfit Legit?

No, ToroProfit is not a legitimate broker. The company has been caught using false licensing information, which is a major red flag.

How Risky Is It?

ToroProfit is a scam company. They have false licensing information, unregulated status, and poor customer reviews. It is important to exercise caution and avoid investing any money with this broker.
Kevin Berry
Ask question
Expert Opinion

Thus, this ToroProfit broker is about as trustworthy as a cat burglar at a jewelry store. I mean, these guys are serving up fake license documents like it’s fancy French cuisine. And if that’s not bad enough, they’ve got the nerve to restrict take-profit and stop-loss orders to only premium accounts. That’s like trying to sell someone a car with no wheels and then asking them to pay extra for the tires. It’s a load of bollocks if you ask me. Stay clear of this dodgy operation.

You may also like

ToroProfit rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
Leave a review

The level of trust
Quick withdrawal of funds
Efficiency of technical support

3 reviews about ToroProfit

Erica March 1, 2023 - 20:01
Goodbye my two thousand dollars
The level of trust
Quick withdrawal of funds
Efficiency of technical support

I started with a minimum deposit and was able to make a decent profit in the first week following the signals provided by the broker. My personal manager suggested increasing my trading capital to have more opportunities to earn. I transferred more funds, and… surprise, surprise – losing trades started to pile up. Even with significant losses, the manager urged me to deposit more money to support the position. But I refused, and my entire deposit of $2,000 was lost. After that, all attempts to contact the company’s representatives were unsuccessful.

Reply
Peter March 10, 2023 - 16:29
It's frustrating to think that I could have done more research before trusting them with my money
The level of trust
Quick withdrawal of funds
Efficiency of technical support

I lost $1,000 with ToroProfit. They didn’t provide the promised educational materials, so I had to figure things out on my own. And just when things started to pick up and I made my first profit, my trading account was suddenly blocked without any warning or explanation. After that, the “broker’s” staff stopped responding to me altogether.

Reply
Ed March 16, 2023 - 09:28
Nothing noteworthy
The level of trust

I came across the ToroProfit website by chance and was curious to check it out. However, after a quick look, it was easy to see that they were peddling fake information. The more I looked, the more convinced I became that this was a scam. The website is full of misleading claims and false promises, and the lack of transparency is a clear indication that something is not right. My impression is that ToroProfit is a shady operation that should be avoided at all costs.

Reply

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy