If we want to know all the truth about Profitly, we should know who is created this program first. You can’t rely on all reviews about this program in the web because some of reviews are totally positive and some other are totally negative so there is not a common view about this platform. Anyway here is the most important question should be asked: Is Profitly scam or it’s a game changer in Forex trading industry?
Timothy Sykes who is a guru and forex trading is creator of Profitly. After becoming an expert in forex industry and made millions of dollars online, he came up with Profitly to share his experiences in this field with others. In this way, he decided to get help of other experienced traders to build a valuable training platform which is included PDF guides, video files, lectures, etc. to help new traders get success in forex market.
But does it really work? What’s the difference between Timothy’s courses with other forex training platform? How much you should pay and how much you can earn from it? All of these questions plus some important facts will be uncovered in my honest review of Profitly so I recommend you do not make any decision about Profitly before reading this review till end.
Are you ready? Let’s start! )
Product Name: Profitly
Official Website: https://profit.ly
Owner: Timothy Sykes
Type: Forex Trading Training Course
Cost to Join: $99.95 Monthly + Upsells
Short review: Profitly is all about trading and forex industry and I personally know some gurus who use this platform as a source for making their trades. Features like online chats, training guides, trading analysis from experts etc. are provided by Profitly to help beginners start foreign exchange market trading properly. Continue reading to find out if Profitly can help you in anyway or not.
Recommended? Yes & No (I’ll explain more in review)
Overall Rating: 5 out of 10
What Is Profitly All About?
Profitly has more than 100,000 active members. When you join Profitly, you will have access to a platform which connects you to Forex trading gurus and let you know what products of these experts are available. You can also monitor how these gurus trade in Forex market and can track their performance to apply it into your own trading.
You are able to see experts based on their performance and traders who made more successful traders will be shown in the top of the page. After monitoring traders, you can also contact with any of them but there’s a fee included which you have to pay to be able to take advantage of training, online chat and personal messages all provided by chosen trader.
One of the things I liked in Profitly was its transparency. Since people make decision based on performance of traders, Profitly does not let users to post fake performance in community. You should be a registered regular users to be able post performance and only after monitoring your traders, Profitly starts to record your trading history.
There’s also a feature called Madoff which let users detects and report performances that looks not real, this lets platform to stay healthy with real reports most of the times. To monitor and follow normal users, you don’t need to subscribe into the website; you just need to create an account and active it with your email address to be able to see how other normal people trades.
But to access to real time trading activities from gurus, you should become a subscriber and only after that you can follow gurus performance on the site.
How Does Profitly Really Work & Who Is Behind It?
Before going through inside of Profitly, let’s see who Timothy Sykes is who run this platform. Actually Timothy Sykes became famous among traders when he could make more than Two Millions profit from a $12,000 investment. He’s an expert in Penny Stock trading and a TV series called Wall Street Warriors is on the air for a long time by this guy.
This TV series helped him to run Profitly platform with all those training materials. With the help of Wall Street Warriors and long experience in stock trading, his goals was creating a community of gurus who can share their knowledge in Forex & Stock trading.
If you register on Profitly as a guru, your account will be tracked automatically by this platform and your rank moves up every time you make a successful trade. More success trades means better rank which let people find and follow you on the platform.
Performance of traders updates on a monthly, 3 months, 6 months and yearly basis and traders who has better rank will be shown on the top of the list.
There are different categories that traders will be putted on based on their performance. For example gurus who made the most successful trades during the last year will be listed on “Percentage Winners” or traders who posted the most fake performance and reported by other users will be putted on “Most “Madoffed” Traders” category. This let new users decide which trader is the most suitable one for them.
For instance if we take a look at Most Dollars Made category, we see a user called Sykes who is on top of the list but it’s hard to find more information about his performance and past trades. The truth is that some traders disappears after a while and people call them scam because they’re not active anymore but there are many reasons why a trader decides to leave platform and it does not confirm that he’s doing something wrong.
Even persons who followed this type of traders can still make money from techniques they learned from them so it all depends how they behave and why they decided to become inactive in platform.
Profitly – The Good, The Bad
After knowing some important facts about Profitly, it’s time to take a look at pros and cons of this online training platform.
Fortunately positive points of Profitly are more than its negative points. It’s included by not limited to:
- Comparing your trading result with other members and rank you based on your performance.
- Providing a detailed result of your trading including percentage of winning/losing, number of total trades, your stats during the last week, month, etc. and some more.
- Ability to follow gurus who have a history with high performance and see if they offer any type of products.
- Monitor all traders and see who are top in different categories. See what strategy they are using and apply it into your own trades.
- Ability to detect scammers who make fake claims and find the trustworthy traders with real performance who you can take benefit from their products.
- Not 100% trustable data. According to nature of stock trading, there are many people who post fake reports to attract new members.
- Personally I think it’s better if all members have to use Broker Connect option. It increases performance of platform.
- There are many criticisms about owner of Profitly which makes serious doubt about real performance of his training platform.
- Although Profitly tried hard to provide a community with real information but you can still find make fake performance from persons who destroy transparency of platform.
- It seems that Timothy Sykes and some other gurus use Profitly as a marketing channel for themselves. They just focus on stay top on ranking list and forget about training section of platform.
Final Word – Is Profitly a Scam?
I don’t have enough reasons for calling Profitly a scam and although there are many fake users who post not real performance in community but it must be said that number of real performance and real traders are much more.
It’s good to make a community with trusted traders and if there were not any fake traders, we have not seen communities like Profitly so I’m agree with the idea of full transparency behind this platform. As I’ve told you above, there are many good things about Profitly and fortunately these positive points are more than its negative points so it’s still a valuable training program.
I think it’s not possible for a trader to make 100% winning trades because losing and winning is nature of trading and nobody can claim he’s has 100% winning trade history. Also there’s always something to be learned from losing and a famous sentence says: “It’s failure that gives you the proper perspective on success” so if you try to win all your traders, you are just putting your foot in the wrong direction.
However although Profitly is not a stand out training platform but it definitely has some big features which can be considered seriously if you want to give it a try. If it can focus more on training rather than only sharing successful result from gurus, I think it’ll be more effective.
Finally, since I’m not fan of forex or stock trading, I can’t give you a 100% Yes or No answer for joining this platform. If you can pay its $100 monthly fee, there’s something to learn from for sure but if you’re new to this industry I recommend you to try lower risk or zero risk programs like what I mentioned below in my best recommendation section.
You don’t need to lose a lot of money to make some money and this is what mostly happens in stock trading instead platforms like WA helps you earn full-time income from your interests without risking your money.
My Best Recommendation
If you’re serious about making money online and are willing to put time and effort behind a Legit & Reliable program to make a living from the internet, Here is My #1 Recommendation!
It’s my Top-Rated program with a trusted community of +1 Million Members and here is why I highly recommend it:
- It’s totally FREE to join. No Hidden Cost at all!
- You’ll have Best Personal Coaches in ALL steps of your training.
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- It’s a legit and honest way to make a Full-Time Income on the internet.