Profit Rex Review – Scam or Legitimate Trading Platform
Disclaimer: The text below is an advertorial article that is not part of Cryptonews.com editorial content
Profit Rex promises to deliver users with smart trading capabilities with two unique trading styles that yield the same high-level of results. The platform itself is reportedly simple to use, making it easy for beginners to invest in cryptocurrencies and other types of assets.
How true are these claims, though? This Profit Rex review will do a complete breakdown of the platform’s features to give a robust answer to this question.
Profit Rex Summary
| Supported Assets | Cryptocurrencies and other types of assets |
| Accuracy Rate | 99.4% |
| Mobile App | There are no mobile-based Profit Rex applications |
| Fees | No withdrawal fees |
| Customer Support | Form-based support |
| Withdrawal Speed | No information available |
| Minimum Deposit | $250 |
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
What is Profit Rex?
Investors are looking at AI-enabled trading systems to reduce the amount of legwork needed to trade in a volatile market. These systems often come in the form of automated trading platforms that leverage artificial intelligence to scan the market and execute trades on an investor’s behalf.
Profit Rex is a platform that claims to provide the same. It states that it leverages “cutting-edge” AI technologies to find lucrative trading opportunities. The platform has described its way of doing things as leveraging historical and real-time market data to produce accurate trading indicators and then combining them with personalized parameters to offer crypto signals to users to act upon.
The platform then goes on to say that the trading system is supported by a simplified UI that only showcases the required information. That said, there is only limited proof to back this claim. The only intuitive factor that we came across was the sign-up module, which does not require any KYC and only asks for simple information.
Per the website, these features are supported by a security system that uses “leading-edge security protocols”. But the platform shies away from explaining what these security protocols are.
Starting trading on the platform is not free since it requires a minimum deposit of $250, which the platform says is used to buy and sell assets. $250 is the amount users must pay, which is hefty considering a lot of features of this platform remain untested. Investors must, therefore, weigh their options before using this trading system.
Profit Rex Pros and Cons
As we analyzed the content given on the Profit Rex website, we came across the following pros and cons:
Pros
- The site has a simple sign-up module
- Claims to provide an intuitive UI
- Asserts that users will get access to advanced analytical tools
- Both autonomous and manual trading systems are available
- Support for multiple asset classes
Cons
- Only testimonials are limited
- Requires a minimum deposit of $250
- No in-depth information about its features
- No way to verify the win rate
- Only one way to reach out to the customer support team
How Does Profit Rex Work?
Profit Rex hasn’t gone deep into explaining how the platform works. However, it has stated that users can use the platform as a crypto trading bot or a manual trading platform.
If what the platform claims to provide is true, the autonomous trading bot may be customized by the users. The site does say that users can customize its parameters, after which the bot combines the settings with the current market data to find and execute lucrative trades. The platform states that the trading bot has an accuracy rating of 99.4%, which we think is only written for marketing purposes.
The other approach investors can use is manual. Profit Rex reportedly offers multiple market analysis tools and technical indicators to help investors make informed trading decisions. However, the site hasn’t gone deeper into explaining what these trading systems are.
It is also worth mentioning that Profit Rex does not provide these features directly. The website states that it has partnered with investment companies to deliver these facilities.
Profit Rex – Top Features
Listed below are the features that Profit Rex claims it delivers to users:
Simple Sign-Up Process
The one feature that we can say that Profit Rex does have is a simplified sign-up module. There are no unnecessary details required and no talk about providing KYC information. Only name, phone number, and email are the details one needs to enter.
Dual Trading modes
The platform says that Profit Rex is a flexible application version that provides two trading modes. The automated mode reportedly leverages an AI crypto trading bot to carry out trades without human intervention. On the other hand, the manual trading mode works as an alert system that notifies traders once pre-determined conditions are met.
Real-Time Trading Alerts
Profit Rex claims that users will have access to real-time trading alerts via a system that uses six unique trading indicators to accurately detect immediate market changes and patterns. “There is no need to waste time researching and manually aggregating data”, claims the website. Per the claims, proper crypto signals are automatically sent to traders.
Security Features
Profit Rex claims that it has established robust trading systems to protect user’s information. However, none of those features have been highlighted. Some third-party reviews have pointed out that SSL encryption is in place to gate user details from outside access.
Support for Multiple Assets
Those looking to diversify their cryptocurrency investments may find Profit Rex appealing. The website states that cryptocurrencies, CFDs, stocks, and other commodities can be traded via the platform.
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
Profit Rex Fees
Profit Rex hasn’t highlighted its charges on the official website. But that doesn’t mean it has a fee-free structure. The only fee-related detail it has mentioned is that there won’t be any withdrawal fee. Other charges for depositing and trading might be there. Talk to the customer support team to get the right answer to this query.
Profit Rex Minimum Deposit
Profit Rex clearly states that it does require a deposit of $250. The platform will reportedly use this amount to start buying and selling the assets it supports. Investors can incrementally increase their investment if they want. However, we recommend analyzing the platform’s profitability properly before taking any such measure.
Is Profit Rex a Scam?
Profit Rex portrays itself as a dual trading platform with both autonomous and manual trading support. There is no way to independently test this feature without making a minimum deposit. And even then, there are no details available on whether the dashboard will be available right away.
When it comes to the content of the website, it is a mixed bag. Multiple disparate details – often contrarian in nature – fill the homepage, adding to the fuzzy nature of the available information. In one section, it talks about providing technical indicators and facilities by itself. In another section, describes itself as a bridge between traders and third-party investment companies.
Details about the assets it supports aren’t clear either. While in one section it has highlighted its support for cryptos, CFDs, forex, and indices, the bulk of the main content of the website is only about cryptocurrencies.
Profit Rex has been featured on TrustPilot, with four reviews at press time. While three of them are positive, all of them have given it five stars. One review is negative, and it has pointed to the site as a scam. Third-party reviews of the platform, however, are kinder. They report that the site yields low returns. Others have stated that their returns have been more than average.
As one can see, these reactions are mixed, which doesn’t give us a clear answer about Profit Rex’s legitimacy. Investors should do their own research and must only invest what they can afford to lose.
Those who want to take a less risky route can invest in crypto presales. These assets are yet to go live on exchanges and have multiple stages, allowing investors to generate multi-level returns without trading on any cryptocurrency exchange.
How to Use Profit Rex?
Here are the steps to start using Profit Rex:
Step 1 – Register on Profit Rex
Visit the official Profit Rex website and start creating an account. Enter rudimentary details – name, phone number, and email – before submitting them. Investors will likely receive an email with a link to verify their accounts.
Step 2 – Deposit $250
It is possible the link to verify the account is the link to make a deposit. Deposit $250 using one of the methods available – PayPal, Skrill, Neteller, UnionPay, Webmoney, Yandex, Visa, Mastercard, AMEX, or Diners Club.
Step 3 – Start Trading
After getting access to the dashboard, get familiar with the onboarded systems before moving forward to trade. Invest only the minimum amount, and don’t forget to check the withdrawal times when withdrawing the deposited amount quickly.
Most reviews have pointed out that the prospect of trading on Profit Rex is risky. Investors should, therefore, look for better alternatives like new cryptos.
How to Delete a Profit Rex Account?
Profit Rex doesn’t highlight the steps required to delete the account. Investors can try to reach out to the customer support team via the contact-based form to get their accounts removed. Alternatively, they can attempt to find the setting to withdraw the amount and delete the account at the same time.
Have Celebrities Endorsed Profit Rex?
No celebrity has come forward to endorse Profit Rex. The platform’s status as a legitimate trading platform is a big question, and it is not that popular. Furthermore, investors have stayed away from endorsing any crypto trading platform ever since the FTX debacle.
Who is the Founder of Profit Rex?
Profit Rex hasn’t highlighted the names or any other details related to its founders. There is no insight into their professions, their age, or their network. By all accounts, the founders of Profit Rex are anonymous.
Latest Bitcoin News
Here are the latest updates from the world of Bitcoin:
- Bitcoin has successfully crossed $47k and heading towards clearing the $50k mark.
- The entire cryptocurrency market is experiencing an upswing thanks to Bitcoin’s recent action.
The Verdict
Profit Rex portrays itself as a future-centric trading system supporting dual trading modes. The problem is that none of its claims can be verified. Third-party reviews are too few, and customer testimonials are dubious.
In light of this, we recommend that investors look for alternative trading systems or use their extra funds to invest in crypto ICOs with a long-term positive outlook.
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
FAQs
Is Profit Rex legit?
Profit Rex doesn’t tell us a lot about its features. However, it does claim to have a win rate of 99.4%, which is unverified. Furthermore, third-party reviews and customer testimonials of the platform are mixed at best, ranging from very bullish to very bearish. Therefore, it is not clear whether Profit Rex is legit. Investors should do their own research before moving forward.
How much fee is charged by Profit Rex?
Profit Rex doesn’t disclose the fees it charges. It is likely that the trading companies it has partnered with have their own fee structure.
