Profit Maximizer Scam? [The Truth]
Published: 13 October 2020 by Andrew
Is it possible that there is an automatic trading system that would allow you to make an average profit of $ 1,151 per day (variable) by depositing only $ 250? This is what Profit Maximizer promises you, but what’s true?
OnlineTradingCourse.net, which has founded its reputation precisely in unmasking online scams, will once again try to provide you with an impartial review on this website and its functioning.
In addition to analyzing and evaluating Profit Maximizer, we will show you an alternative for automated trading that is absolutely legal, because it is offered by an online broker authorized by CONSOB: eToro.
What is Profit Maximizer?
Let’s start by saying that the official website of Profit Maximizer changes constantly because the control bodies on financial intermediaries (such as CONSOB or CySec) continue to close the various websites of this system, but unfortunately, new ones are born continuously.
We examined the site that is currently accessible (we do not give you the link because we would like to avoid making you lose money) and we could see that it is a web page that claims to make you get incredible daily earnings thanks to a trading robot, that is an automated trading system.
With the incredible figures they talk about, they mainly attract novice traders who believe in these miraculous profits, believe that the reviews they read on the site are the opinions of real investors! Instead they are absolutely false!
This site is similar to many other online scams like Bitcoin Trader, Crypto Engine, Bitcoin System, Bitcoin Up, Bitcoin Bank, Libra Profit System, etc. but there is a difference, most of the scam websites listed are based on cryptocurrency trading, while this is based on trading in a broader sense, but in substance it changes little.
How Profit Maximizer works
Theoretically behind Profit Maximizer there is a complex algorithm made available “for free” to make you all rich.
But the truth is that it is a simple web page that acts as an intermediary between you and an illegal broker, that is an intermediary that operates from a tax haven, has no license and offers no guarantees on the money deposited.
Below we see the steps to sign up and invest with Profit Maximizer, but don’t do it, you will lose your money!
The registration will redirect you to a “partner” Broker who pays the Profit Maximizer site for providing him with another “piggy bank”.
These brokers not only do not have regular licenses but they are real scammers, there is no trading robot but a kind of video game. No transactions are made on the markets; at some point the system will simply start to lose money and at that point to recover it you will be tempted to pay more, but it is a bottomless pit!
Even if the system were to generate income (it never happened to us), they will not allow you to withdraw anything anyway, making the most disparate excuses.
Safe alternatives to Profit Maximizer
As promised we do not want to give you only negative news, you must know that automatic investments exist, but we must recognize the legitimate ones from scams.
There are some characteristics that identify safe and reliable brokers, here are the main ones:
- They clearly show the Broker’s company and registered office
- They have at least one operating license issued by CySEC or by CONSOB
- They offer various contact details for contacting assistance
- They don’t promise easy money
When these features are missing, it is a scam.
Among the automatic investment systems available on the market, one stands out because it is not based on a complicated trading algorithm but on the real investments of the best traders in the world, but let’s find out more about what it is in the next paragraph.
eToro as alternative
eToro is the most popular online broker in the world and its over 7 million active users confirm its reliability and security.
It is an intermediary that meets all the requirements for evaluating a legitimate broker (which we have listed in the previous paragraph) and is authorized by CONSOB and CySec, as well as by numerous other international control bodies.
eToro has a very intuitive trading platform that allows you to trade on many markets safely but the feature that makes it an alternative to Profit Maximizer is its patented automatic investment system: Copy Trading.
This system allows you to copy the market operations of the best traders in the world (on eToro) automatically. So your investments will depend on experienced traders who will trade the markets for you.
To take advantage of Copy Trading just follow these simple steps:
- Register for free on eToro
- Choose the traders to copy from among the best available on eToro
- The software will copy all their trades on the market, in a free and fully automated way
Thus you will get the same returns as the copied traders (based on how much you have invested in them).
How much could you earn thanks to Copy Trading? It depends on the returns of the traders you have chosen, here are some examples below:
Click here and choose the traders to copy
This system does not guarantee that you will become rich but it allows you to make profits without doing almost anything, passive returns that depend on the skill of the trader you have selected.
To optimize and balance performances in the best possible way, it is preferable to select at least 5/6 traders and copy them, in this way even if one trader makes a mistake, the others will compensate.Click here to register for free on eToro
Initially you can test Copy Trading on a Demo account, so as not to risk anything and then, after practicing, you will make the first deposit on the eToro account, to start earning seriously.Access the Demo account for free by clicking here
For more details: Read our eToro review.
Profit Maximizer: does it really works?
No, it does not work at all and to prove it we will not tell you that it is a scam, but we simply invite you to read the “disclaimer” written (in small print) at the bottom of this miracle system website, which says:
Important Risk Note: Trading FX and CFDs carries a high risk of loss due to the leveraged nature of trading which could lead to total loss of your capital and which may not be appropriate for all types of investors.
Please read our full risk warning and the relevant broker you will be registered with to make sure you understand the risks involved before proceeding, taking into account your relevant experience.
If necessary, seek independent advice. The information contained on this website and in the disclosure documents is of a general nature only and does not take into account your personal circumstances, financial situation or needs.
You should carefully consider the brokerage agreement with the client and seek independent advice before deciding whether trading such products is suitable for you.
This note serves to clarify that there is no guarantee that the system will generate profits and they put it in writing. Other than $ 1,151 a day, they are telling you that you could lose all of your invested capital, and that’s exactly what will happen if you put money into Profit Maximizer!
Opinions and Review
The opinions and reviews of elusive users who would have enriched themselves with this system are part of the most used systems to convince new investors to deposit money, here is a screenshot of the testimonials that you can find on Profit Maximizer:
All these reviews are fake, the user profiles are fictitious, they don’t exist, and the reviews are written by the scammers themselves.
We can prove this because we have analyzed all the images in these reviews and they are advertising images, there is no real users.
Is Profit Maximizer a Scam?
YES. We can define Profit Maximizer a scam because:
- We have no evidence of any user who actually made money with this system
- The algorithm constantly loses money
- There is no company or registered office on the website
- The broker you connect to is unlicensed
- There is no phone number or direct contact for assistance, just an email
- We were never able to withdraw our balance
We could go further but what you need to keep in mind is that you should never deposit money on illegal broker sites.
Online trading is not illegal in itself, far from it, there are numerous totally legal, safe and reliable intermediaries but obviously they do not promise to make you a millionaire in a few months. So they are often overshadowed by sites like Profit Maximizer, which make unlikely promises, but attract a lot of attention.
Always keep in mind that if there was a system that generates incredible earnings like the one advertised by Profit Maximizer, why should it be offered for free?
Such an advantageous algorithm, if it existed, would be jealously kept in a safe by its inventor or sold or rented for very high amounts, perhaps to some investment bank.
To earn with trading it takes talent and a lot of dedication, or a system that allows you to copy the operations of the best traders in the world, so as to obtain their own returns, just like eToro Copy Trading does.
Recover money lost on Profit Maximizer
If you have skipped directly to this section you have probably already lost money with Profit Maximizer and we are sorry. If this has not happened, we still want to explain the only method that allows (sometimes) to recover the money lost on these illegal websites.
The recovery system that can be used is called ChargeBack and is used by many banks and credit cards but it only works if you have not confirmed the deposit by sending your documents.
In fact, if you have sent the required documents, it means that you wanted to make that deposit and therefore, in the eyes of the bank (or credit card) the hypothesis of the scam is void.
To start the ChargeBack procedure you must follow these steps:
- Contact the Broker’s assistance service and try to get the explanations in writing, they are used for the complaint
- Report the scam to the Police
- Ask the bank or the credit card manager for the ChargeBack
- Follow the bureaucratic process, wait patiently and hope for the best
We don’t want to fool you, this recovery system rarely works unfortunately, the scammers are more and more experienced and know how to avoid the ChargeBack but it’s still worth a try.
Profit Maximizer is a scam and our review has proven it beyond a reasonable doubt, so we advise you to stay away from this and all websites that have the same characteristics.
To understand if a Broker is safe you must always check:
- Whether in possession of a license issued by CONSOB, by CySEC or by another control body of undoubted reputation
- That clearly shows the company name, registered office and contact details
In this review we have also shown you a legal alternative to Profit Maximizer, offered by the broker eToro: Copy Trading.
Sign up on eToro and start from the Demo account, if you feel comfortable you can switch to the real account by making a minimum deposit of 200 €, here is the official link to get started:
Yes, it is a scam based on a trading robot that does not actually generate any returns. To be avoided absolutely!
Absolutely nothing, otherwise you will lose all your money. Don’t be convinced by the opinions you find on the site, they are all false!
Nothing, the system is not working and constantly losing money. Even if you take profits from the automated trading system, it will not be possible to withdraw them. These scammers will make every possible excuse not to let you withdraw anything!
Yes, eToro’s Copy Trading allows you to make totally legitimate automatic investments. Start with the risk-free free demo account.