A Comprehensive Review of QProfit System – Is It Legit?
A Comprehensive Review of QProfit System – Is It Legit?
QProfit System is a combination of different automated trading systems geared towards making as much as $1,000 in profit for the users. This is quite a bold claim, but as it appears, hundreds of traders have made money using this same system.
The trading system offers the best of different worlds by finding profitable trading opportunities across different markets. Originally designed for automated commodity trading, QProfit System has since been delegated to other financial markets, including cryptocurrencies and contracts for difference(CFD) trading.
We have written this QProfit System review both to help you understand what this software can do for you, as well as examining its legitimacy and other features you need to know.
What is QProfit System?
As earlier stated, QProfit System is a financial market trading robot that trades different kinds of assets, including CFDs, cryptocurrencies, and commodity trading.
The history of QProfit System dates back to sometime in August 2017 when the founder, Jerry Douglas, collaborated with other professionals in the binary options trading field to set up software that will help thousands of traders automate their trades. That software is what is known today as QProfit System. Although the details of the founders aren’t easily found in the public domain, there are a couple of testimonials from traders who claimed to have won some money via the software.
Although a binary trader, the founder opted to customize the QProfit System specifically for commodity trading, because that is one of the most rewarding financial markets. In addition, cryptocurrency trading, CFDs, and other types of financial assets can be automated with QProfit System.
What assets and products can you trade using QProfit System?
You have access to trade a wide range of financial assets. These assets range from commodities (including tobacco, gold, silver, salt, and alcohol), CFDs, and cryptocurrencies.
What leverage trading options are there?
QProfit System didn’t mention if there is any availability for leverage trading. Since it automates CFDs, it is possible that leverage trading is available.
Note that leverage trading is highly risky, especially when leveraging complex instruments as CFDs. For this reason, be sure that you are willing to lose the money comfortably, as well as evaluate your risks before proceeding.
What are the spreads?
At the time of writing, QProfit System doesn’t offer spreads on its automated trades.
Fees, limits, and payment options on QProfit System
How Much does QProfit System Cost?
You wouldn’t be required to pay anything to use the QProfit System automated trading software. This is because the software doesn’t require subscription fees, nor does it have any hidden charges.
The only expenses you will acquire are to fund or add money to your trading account. A minimum deposit of $250 is required here and the funds are completely yours. They will be used for the trades you placed on automation via QProfit System.
What are the payment options accepted by QProfit System?
Adding money to your QProfit System and withdrawing your profits from the same are hassle-free. QProfit System offers a wide range of payment methods. These range from credit cards, debit cards, and electronic wallets (e-Wallets).
Some of the accepted payment methods are MasterCard, Visa, Neteller, and UPayCard.
Does QProfit System also charge fees and commissions?
No, QProfit System doesn’t charge you for using the software at any point. Charges might be likely from the brokers where you will trade CFDs and commodities, and exchanges where you will trade crypto.
QProfit System trade sizes and limits
The available information only talks about the minimum amount to deposit, which is $250. There was no mention of the maximum amount to deposit or the number of trades the users will be allowed to execute at a time.
QProfit System works with a computer-generated artificialiIntelligence (AI), which lends credence to its designation as an automated trading app.
For things to start working as they should, you will need to sign up for an account. Once you do that, deposit money to your account, choose from any of the available rules, and allow the AI to get to work and make passive income for you.
What device can I use QProfit System on?
QProfit System doesn’t have a dedicated mobile application. Instead, it uses a web-based application to facilitate the trading of cryptocurrencies, commodities, and CFDs.
What Exchanges and Brokers does QProfit System Partner with?
This is one of the most critical points of using the QProfit System. Since the software is designed to automate different financial assets, one expects that most of the brokers and exchanges will be listed.
On the contrary, only a few of these are listed. At the time of writing, only the Webtrader and Metatrader platforms were supported.
No mention was made of cryptocurrency exchanges that allow the use of QProfit System to trade crypto coins on their platforms.
Can I use QProfit System in my country?
Traders are sometimes restricted, depending on the country they come from or currently reside in. QProfit System stated all these on its terms and conditions page.
For example, the software restricts traders from the United States, Israel, and Canada. It also adds additional restrictions for traders who are not ready to comply with its verification processes.
Is QProfit System available in my language?
The language availability of the QProfit System appears to be limited to two languages – English and Arabic.
How easy is it to use QProfit System?
You shouldn’t have any difficulty using QProfit System. The major task is to sign up for an account and scale the verification processes.
If all those are successful, you can select from the list of matched brokers on your dashboard to start automating your trades.
Despite the anonymity of the team and the questionable testimonials, QProfit System has continued to gain traction.
These are some of the reasons for the increased popularity of this automated trading software:
No Financial Commitments: One of the unique selling points of QProfit System is the fact that it doesn’t charge its users any fees.
Useful Tutorials: You can also gain more insights into the workings of the software by watching the wide selection of videos and other educational materials provided by QProfit System.
Maximum Security: Automating trades is the most significant feature of the QProfit System. That doesn’t mean there are no other innovative features. One of the unique features is the provision of maximum security. The QProfit System’s team understands the importance of providing maximum security to its users. Hence, different effective security parameters have been delegated to keep you safe when using the software.
The legitimacy of the QProfit System is supported by many reasons. First, the information on the website doesn’t consistently make “over-the-board” claims. Instead, the focus is primarily on enhancing the trading of different financial assets by using superior algorithmic technology.
Second, and most important, the QProfit System seems legitimate because it works with multiple third parties that are legally recognized.
Is QProfit system safe?
The safety of the QProfit System is one of the most important features that set it apart from the other trading software in the market. Yes, QProfit System is secure because of several reasons.
First, the software places an automated call to the telephone number you used when registering for an account. The reason for this is to confirm if you truly have access to the number.
The second security feature is the verification requirements. Although strenuous, this is in place to help you confirm your identity. Some of the requirements at this stage include the uploading of a government-issued identity card and proof of address/residence.
Are me and my money protected?
QProfit System primarily helps you spot profitable trading opportunities in the trio of CFDs, cryptocurrency, and commodity markets. The software and its platform as a whole don’t guarantee the safety of your funds nor that of your payment methods.
The brokers and the collaborating exchanges see to that. So, refer to those platforms to read up on their specifications and methods of protecting your funds and information.
Is QProfit System regulated?
QProfit System doesn’t appear to be regulated. Moreover, the platform has categorically mentioned in its terms and conditions page that certain conditions might trigger it not to operate in specific locations.
To put this in perspective, the terms mentioned that if the legal and regulatory requirements in a location or jurisdiction pose economic, reputational, legal, and regulatory risks to QProfit System, the company wouldn’t hesitate to designate such a location as a “Restricted Territory”.
To this end, it means that QProfit System doesn’t appear to be ready to comply with existing regulatory requirements, as they pertain to the use of automated trading software in financial markets.
Additionally, QProfit System collaborates with some of the best brokers in the market. An insight into the activities of these brokers from a legal perspective shows that they are well-regulated in their respective jurisdictions.
Do I have to verify my account with QProfit System?
Yes, account verification is required because QProfit System takes both the know your customer (KYC) and anti-money laundering (AML) policies seriously.
You will be required to upload your identity card, proof of location or residence, and possibly, take a snapshot.
According to the information on QProfit System’s terms and conditions page, users who fail to meet up with the KYC and AML procedures might be forced to discontinue to use of the platform.
Although not mentioned on the site or easily located, QProfit System does offer a wide range of educational resources. These are most tutorial videos that walk you through the process of maximizing the software.
Tools and Charting
QProfit System stripped away all of the market charts and graphs. This was done to help beginner traders take full advantage of the different financial markets. In the absence of charts, traders can fully leverage the automation that QProfit System offers across different financial markets.
Get your queries resolved instantly by getting in touch with the ever-accommodating and helpful customer service department constituted by QProfit System. The support options include a contact page, e-mail, and telephone chats.
How to Get Started with QProfit System
If you believe it is time to start using QProfit System, here are the steps to guide you:
Sign up: The first step is to sign up with your information, including your first name, last name, and telephone number. Ensure that the telephone number you are using is active because QProfit System will either send you a code or give you a call after a while. The reason for doing this is to be sure that you are the owner of the telephone number.
Wait for the Call: The next step is to wait for either the confirmation code or the confirmation call from QProfit System. You can also skip this for the time being but try to confirm your telephone number before automating your first trade.
Fund Your Account: QProfit System automatically chooses a broker for you. The list of the selected brokers will be on your dashboard. Now, click on the link of that broker so you will be directed to the broker’s payment page. This is the point where you will make the minimum deposit of $250.
Familiarize Yourself with QProfit System: Take some time to understand how QProfit System works. You can do this by watching the very helpful tutorial videos. You can also use the demo account on your dashboard to create a demo account for either Euro (EUR) or the United States Dollars (USD). Test your trading skills before kicking off the trade automation.
Delegate the Software and Relax: All other work is done by the software. Simply delegate it and relax as it trades for you.
QProfit System offers you the opportunity to trade on a wide range of financial assets and potentially make more profits than you could have made if you were actively involved in the trades.
The risks are also there, especially with the anonymity of the founder(s) and the possibility that the testimonials are not true.
If you choose to trade with QProfit System, be sure to utilize due diligence, start trading with smaller amounts, and don’t forget to take the profits as they come.