Profitrade247 Review: Advanced Crypto Trading Platform
Trying to find a reliable cryptocurrency exchange can be a challenge. It seems exchanges are being hacked every month. And with BTC hitting new highs almost every week, finding an exchange you can trust is critical.
Profitrade247seems to check all the necessary boxes for a reliable and secure crypto exchange. It is based in the U.S. and has never been hacked. Profitrade247allows you to trade directly from fiat currency to crypto. There are also 50+ cryptocurrencies available to trade in the U.S. In this article, we’ll provide an overview of what Profitrade247has to offer.
What Do They Offer?
Profitrade247 allows you to exchange fiat currencies such as USD, Canadian Dollar, Euro, and GBP into cryptocurrency. You can also exchange from one cryptocurrency into another. There are over 90 cryptocurrencies available on Profitrade247 for buying via fiat currency or exchanging, but 35+ of those tokens aren’t currently supported in the U.S.
The Profitrade247 platform just added support for two more cryptocurrencies: Ocean Protocol (OCEAN) and Energy Web Token (EWT). Both currencies can be deposited and traded as of March 3, 2021. However, it should be noted that U.S. and Canadian residents are currently unable to trade EWT.
Profitrade247 Review: Key features
Profitrade247 is an ideal social trading and multi-asset platform for investors who are new to the investment world. The platform has been pioneering online investment space since 2006 and has earned its reputation as a credible broker. Profitrade247 platform is an excellent option if you’re interested in cryptocurrency trading or traditional assets like stocks, commodities like oil or gold, or ETFs, and operates as a one-stop-shop for all these products.
Advanced traders may benefit from Profitrade247 margin trading, which allows you to access a myriad of trading instruments with leverage. Less experienced traders can benefit from Profitrade247 social trading where you can follow and copy seasoned investors, their research, and insights.
The key features of Profitrade247 include:
- Profitrade247 social trading. Profitrade247 offers a unique social trading experience, making it the best social platform for traders. You can follow, copy, interact with your favorite traders, and create a custom news feed to keep tabs on your preferred assets and their news.
- Best trading platform for learning. Plenty of educational materials, including a virtual portfolio for training.
- A vast range of assets. Aside from 16 cryptocurrencies, you can also learn and trade in traditional markets like stocks, bonds, forex, ETFs, commodities, and other markets.
- Excellent customer support. If there’s an issue, you can reach Profitrade247’s team via phone, live chat, and support ticket. Besides, the platform is translated into more than 20 languages. The customer service is available Monday to Friday, 24 hours per day.
- Mobile trading apps. Profitrade247 is easily accessible on the go so that you can make trades from your Android or iOS powered phone.
Are There Any Fees?
Yes, the basic Profitrade247 trading platform 0.90% for stablecoins and 1.49% on all other crypto pairs. You’ll pay an additional 0.50% if you use a bank transfer (ACH) to fund the purchase or 3.75% + €0.25 if you pay with a card or digital wallet.
Profitrade247 Pro uses a maker/taker fee structure that’s much more competitive. Most traders will pay 0.16% on maker orders and 0.26% on taker orders. However, the rate for both decreases as your 30-day volume increases. You’ll also run into various fees for depositing and withdrawing funds, depending on the method used.
How Do I Open An Account?
You can visit the Profitrade247 website to open an account. You’ll need to be at least 18 years of age to open an account and must live in one of Profitrade247’ supported areas. Profitrade247 also has a mobile app that’s available in most countries.
Is My Money Safe?
Profitrade247 has never been hacked and is considered a reliable crypto exchange. However, it’s probably still best to move your crypto onto an off-site wallet.
Profitrade247 provides various levels of protection for its users. It uses Google Authenticator 2FA for Trading and Funding. There is also a Masterkey level of security. Masterkey is good in case you lose your phone or Yubikey.
Is It Worth It?
There’s a lot to explore on Profitrade247. It has one of the largest supported currencies list (including the popular Dogecoin meme currency) you’ll find today, it offers rewards when you stake coins, and even allows margin and futures trading. It’s certainly worth checking out.
However, other cryptocurrency exchanges may offer higher interest rates/rewards on staked crypto assets or a less complicated fee structure.