Profit Palace Review: Gives Online Forex Educators a Bad Name

Essential role knowledge plays in online trading success should never be underestimated. That’s why charlatans like this one attempt to rob novices and promising Forex traders by offering fake trading education. With absolutely no proof of how efficient or truthful these alleged learning materials are, these con artists shamelessly market their products as something revolutionary. 

So should you try and sharpen your FX skills on this platform or should you just write it off as another cheap, fraudulent attempt? Keep reading this Profit Palace review to find out.

About the Founders

Introduced as a “unique eLearning platform”, the Profit Palace scam sells the idea of being able to help novices and experts in acquiring skills that will produce consistent profit. However, if you want to check the company background, how long they’ve been in the business and how educated these Forex gurus are, you won’t have much luck. 

The owning company of the brand is completely anonymous. Providing trading education, financial advice and even investment options is strictly regulated in certain areas like the UK, Australia and other more developed nations. 

Therefore, these individuals need to be properly educated and licensed. The partial UK address can’t be linked to any registered entity. Moreover, the FCA database contains no such entry.

Not only is this fraudulent bunch unauthorized by any financial authority, they’re even blacklisted. ASIC was the first to issue a public alert, which was then reposted by AFM, CONSOB and IOSCO. 

Learning Courses and Prices

Each of the Profit Palace education packages is intended for certain traders, depending on their starting knowledge levels. Therefore, it could be said that courses are tiered and each supposedly contains more advanced knowledge, but also costs more. 

Some of the learning programmes are intended to help Forex beginners have a successful start. Meanwhile, other ones are meant for more intermediate and advanced investors to perfect their existing skills. Let’s see what they offer and how much they cost.

BASIC – $250

If you’re still new to the whole online trading world and need a beginners guide and introduction to the core concepts of the Forex markets, this should be the right choice. Judging by the Profit Palace price for this package, at a glance, it almost seems like a good deal. 

Marketed as a perfect course to help you establish foundations to your further development, the Basic package helps you learn the core concepts. However, despite the description of what the course is meant to do, nothing else is known.

EXPERIENCED – $500

Traders who have already passed the Basic learning steps are advised to move on to the Experienced package. Not much more expensive than the previous one, this bundle is promised to help you refine and sharpen your newly acquired skills. 

To help you take your knowledge to the next level, this course consists of more advanced materials and resources to help boost your overall performance. As aforementioned package, this one also doesn’t reveal the concrete strategies or materials included.

PROFESSIONAL – $800

Considered to be an advanced trading course, this package is meant for serious traders, seasoned investors and Forex professionals. Learning about deeper understanding of the trading mechanics, market events and movements as well as portfolio diversification play a key role in this course. 

It remains unclear what strategies, methods, and materials are used, as well as which mentors guide your learning process here.

BUNDLE – $1,000

Among all of the Profit Palace courses, this one is especially advertised as the most convenient, rich and helpful. As a matter of fact, it is designed in such a way that it contains all the courses from beginner to expert level for those looking for a complete guide. 

Allegedly, purchasing this bundle opens way to quickly leveling up your knowledge from novice to pro in no time. Extremely promising and attractive-sounding, this course also remains totally vague about what it encompasses. 

Hidden Live Trading

While it’s not explicitly advertised on the website, the company features live Profit Palace trading. This only becomes apparent once you do a more in-depth google search of the domain.

The profitp.net/live-trading link is most likely only provided by the boiler room agents working with the firm. Once you access it, you will be prompted to create another account, via yet another unregulated service – Trading Account Limited (etradingaccount.com).

False Success Stories VS Real Life

This education platform has posted numerous ratings from alleged satisfied customers, but it’s unclear where these ratings come from. For the alleged 12 million users, the company has exactly zero Profit Palace reviews on reliable platforms like TrustPilot, SiteJabber and Reviews.io.

This discrepancy makes it rather obvious that this so-called educator fakes much of the information provided on the website. Other less-known and shady companies tend to do this as well, like CryptoTrader for instance, which is all the more reason to avoid them.

Advertising Campaign

The company tries to emulate legitimate firms by launching a couple of social network profiles. Although the site lists a few pages, most of them are either empty or missing.

The only one that does seem to be managed is one on the Facebook platform, with a tiny following of less than 3.000 people. Now, this number may seem high, but remember – the company claims to have millions of active learners at any time.

All this does is make it obvious that the brunt of the work is done by boiler room agents. These agents work in a fraudulent call center, and continuously pitch one phony service or another.

That’s why it’s extremely important to carefully choose who you want to guide your trading journey, but also keep your assets safe from potential frauds. Speaking of safe-storing crypto currencies, we recommend you to read our take on SafePal.

Funded Trading: Far More Promising

Don’t waste your time and money on shady services that promise to improve your trading game, only to end up getting ripped off in the process! We know that the best results are achieved through hard work and dedication.

That’s why we’re ready to kickstart the best traders out there with as much with a $180,000 prop firm account. If you’re one of thousands of traders looking to improve your portfolio with a capital injection, book a free Zoom meeting with our representatives.

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