Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
9/10 · CriticalNo licence on the Seychelles or Belize registers, a private fund presented as its regulator, and a Bank of Russia warning naming the operator.
Identity & transparency
6/10 · HighNames TIM GROUP INC. at a Belize corporate address, but the footer still says Profiforex Corp., no client agreement is published and a third company appears on the warning.
Withdrawals & conduct
8/10 · CriticalFund-access complaints on three platforms from 2013 to 2025 describe unpaid withdrawals and removed profits with amounts and dates, and we found no public reply from the broker.
Reputation
8/10 · CriticalAbout 2.0 out of 5 on both Forex Peace Army and Trustpilot plus a regulator warning, with only a few older, generic positive reviews.
Website claims
8/10 · CriticalClaims to be regulated by GURS, shows an award badge we could not trace, and lists misspelled banks, one of them defunct, as liquidity providers.
Operational history
2/10 · LowDomain registered in 2006 and the brand has traded continuously since at least January 2011.
Who they are
A quick desk file on the company behind the brand.
- Brand: Profiforex, run alongside a sister brand, ForexStart, on the same platform and badge.
- Legal entity: TIM GROUP INC. of Belize, which the site says owns and manages the brand. The footer still reads Profiforex Corp., the name the site used in 2013 with an address in Victoria, Seychelles.
- Registered: Corner Hutson & Eyre Street, Suite 302, Blake Building, Belize City, Belize. The UK companies register records TIM GROUP INC as a company governed by Belize law at this address from November 2014.
- Website: profiforex.com, with the client area at account.profiforex.com. The Bank of Russia also lists profiforex.org, which is no longer registered.
- Only licence: none. The broker says it is regulated by GURS, a private fund website, not a financial regulator.
- Offers: forex, metals, indices and crypto CFDs on MobiusTrader 7, cent accounts from 1 dollar, a deposit bonus of up to 500% and a copy-investing scheme.
- Not accepted: the current site publishes no list of restricted countries.
- Age claim: established in 2010. The domain was registered on 6 September 2006 and the brand was trading by January 2011.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
Licences the broker publishes
GURS (Global Unite Responsibility System)
Why we reached this verdict
How the evidence adds up.
We rate Profiforex a likely scam because a regulator has flagged its operator, it misstates its own regulation, and clients have reported the same withdrawal problem for more than a decade.
- Bank of Russia warning. The Bank of Russia list of companies with signs of illegal activity on the financial market names TIM GROUP INC, CARMEL INVESTMENTS CONSULTANTS INC., PROFIFOREX CORP and FOREXSTART, and lists profiforex.com among their websites. The finding recorded is signs of an illegal professional securities market participant. The entry was added on 1 February 2021 and last updated on 21 January 2026.
- A regulator that is not a regulator. Asked 'Is Profiforex regulated?', the broker's FAQ answers 'Yes Profiforex is regulated by GURS'. GURS calls itself a non-profit fund. It issues no licences and has no legal power over brokers. Its site lists eight brokers, including Profiforex and ForexStart, fills its Profiforex profile with Profiforex's own first-person About text, and gives a York address with a five-digit postcode the UK does not use. We found no UK company registered as Global Unite Responsibility System.
- No licence where it is based. TIM GROUP INC., Profiforex Corp., Profiforex and ForexStart do not appear on the Seychelles FSA list of securities dealers or in the Belize FSC search of licensed service providers. Those are the two places where the company has given addresses.
- The same withdrawal story, repeated. Forex Peace Army shows 41 reviews averaging about 2.0 out of 5, and Trustpilot shows 10 reviews scoring 2.0. Clients describe withdrawal requests left pending for weeks or months, unanswered emails, accounts closed and profits removed. Examples: a 5,000 dollar withdrawal unpaid after nine months (2019), a 2,500 dollar estate balance stuck for 18 months (2019), and a withdrawal requested on 13 February 2018 that was never paid. We found no public reply from the broker.
- Claims that do not check out. The award badge now reads IRDA Awards 2026. The 2016 and 2019 versions of the site showed the same wording as IAIR Awards 2013, and we could not trace any IRDA awards programme. The site promises segregated funds at AA+ rated banks without naming one, and its liquidity provider list misspells Barclays, Credit Suisse and BNP Paribas and still includes Credit Suisse, which UBS took over in 2023.
- A bonus built to hold money. Bonuses of up to 500% are credited as non-cash credit, convert to cash at about 1 dollar per standard lot, and every withdrawal removes five times its amount from the bonus.
- How the number is built. The six scorecard dimensions average 7.1 out of 10, with regulation, identity and withdrawals counted double, which gives 71%. The regulator warning alone would hold it at 70% or more. Its long history is credited in the score: the domain dates from 2006 and the brand has traded since at least 2011. That age rests on the domain and archived pages, because Belize keeps its register of international companies private; the UK companies register shows TIM GROUP INC in existence by November 2014.
Note on operating history: the 20.2-year track record rests on domain registration alone. No company incorporation date could be established, so this is an upper bound rather than a confirmed age.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The Bank of Russia list of companies with signs of illegal activity on the financial market names TIM GROUP INC, CARMEL INVESTMENTS CONSULTANTS INC., PROFIFOREX CORP and FOREXSTART, records signs of an illegal professional securities market participant, and lists profiforex.com and profiforex.org among their websites. Added 1 February 2021, last updated 21 January 2026.
Hard proofBank of Russia warning list, entry 7783E2The broker's FAQ answers 'Is Profiforex regulated?' with 'Yes Profiforex is regulated by GURS'. GURS is not a government regulator and issues no licences, so the answer misstates the broker's regulatory status.
E3GURS calls itself a non-profit fund, lists eight brokers including Profiforex and ForexStart, reuses Profiforex's own first-person About text in its profile, dates Profiforex to 2006, and gives the address 24566 Great Britain, England, York, 20 Prices Ln., whose postcode is not a UK format.
E4No UK company is registered as Global Unite Responsibility System; the only GURS LIMITED on the register is a London company at a different address, dissolved in February 2022.
E5Forex Peace Army shows 41 reviews averaging about 2.0 for ProfiForex.com, operator Tim Group Inc., and lists ForexStart as a related website. Reviews from 2018 to 2023 describe withdrawals pending for weeks or months, a 1,000 dollar request half paid while about 8,000 dollars sat in the account, a 2,500 dollar estate balance unpaid after 18 months, an account closed with capital and profit inside, and profitable trades deleted. No broker replies appear.
E6Trustpilot shows 10 reviews with a TrustScore of 2.0, half of them one-star: a withdrawal pending a month with no reply (2025), a 5,000 dollar withdrawal unpaid after nine months (2019, the same reviewer also posted on Forex Peace Army), and an account that went inactive after the client was urged to deposit more (2020).
ModerateTrustpilot, profiforex.comE7A 2013 EarnForex thread describes profits reversed after withdrawal requests, including a 17,000 dollar profit turned into an 11,000 dollar negative balance; another member suggested the trader had exploited pricing errors.
ModerateEarnForex forum threadE8The site shows an award badge reading IRDA Awards 2026, Excellence in FX Services. The 2016 and 2019 versions of the site showed the same wording as IAIR Awards 2013. We found no IRDA awards programme for FX services.
ModerateProfiforex certificate pageE9The bonus page offers up to 500% on every deposit and says this lifts leverage to 1:3000. Bonus converts to cash at 1 dollar per standard Forex lot, and each withdrawal deducts five times its amount from the bonus.
ModerateProfiforex bonus pageE10The refund policy lets the company block account access and freeze the client's balance if a card payment is disputed, and lets it act against clients without informing them beforehand.
ModerateProfiforex refund policyE11The homepage lists Baraclays, Credit Sulsse and BNP Parlbas as liquidity providers, misspelling all three and naming Credit Suisse, which UBS took over in 2023. The Funds Safety page claims segregation at AA+ rated banks without naming any bank.
E12The Seychelles FSA list of licensed securities dealers has no entry for Profiforex, Profiforex Corp., TIM GROUP INC., ForexStart or Carmel Investments Consultants Inc.
E13The Belize FSC search of current licensed service providers shows no entry for TIM GROUP INC., Profiforex or ForexStart.
E14The sister brand ForexStart carries the same GURS badge, MobiusTrader 7 platform, 500% bonus and identical dated news posts, and the Bank of Russia entry lists dozens of numbered ForexStart web addresses, from forexstart01.com to forexstart20.com.
ModerateForexStart websiteE15UK Companies House records TIM GROUP INC, a company governed by Belize law, as a designated member of MODERN SOFT LLP from 12 November 2014, at Suite 302 Blake Building, Belize City, the address Profiforex publishes.
E16profiforex.com was registered on 6 September 2006 through REG.RU and is held until 2028.
E17The earliest archived homepage, dated 5 January 2011, already shows the Profiforex dealing center with a 2010 Profiforex Corp. copyright, so the brand has operated under one name for at least 15 years.
E18In 2013 the contact page named Profiforex Corp. at 103 Sham Peng Tong Plaza, Victoria, Mahe, Seychelles; by 2019 the site named TIM GROUP INC. at Blake Building, Belize City, and showed the IAIR Awards 2013 badge.
E19Some clients report being paid: a 2021 Trustpilot reviewer received a bitcoin withdrawal after five days, and reviews from 2016 and 2017 praise execution and payouts, although these are mostly single-review accounts.
E20The IOSCO I-SCAN alerts database returns no warnings for profiforex or forexstart.
WeakIOSCO I-SCAN
The other side
The strongest case in this broker’s favour.
We tested the case that Profiforex is a small, poorly run offshore broker rather than a scam. Parts of it hold up, but not enough to change the verdict.
- It has a long history. profiforex.com was registered in September 2006, and archived pages show the same brand, emails and dealing-centre model from January 2011 onward. Pure scams rarely trade under one name for 15 years.
- Some clients were paid. A 2021 Trustpilot reviewer describes a slow but completed bitcoin withdrawal, and reviews from 2016 and 2017 praise execution and payouts.
- The Bank of Russia list is about licensing. It flags firms serving Russian residents without a Russian licence and also names some brokers licensed elsewhere. It is not, by itself, a finding that client money was taken.
- Some disputes may be about trading. In a 2013 forum thread about reversed profits, another member suggested the trader had exploited pricing errors.
- Why the verdict stands. None of this explains why the broker presents a private fund as its regulator, why it holds no licence in Belize or Seychelles, or why the same unpaid-withdrawal account keeps recurring across platforms with no public answer from the company.
What would change this
What we would need to see to revise the verdict.
These developments would lower the risk rating, and one would raise it.
- A licence from a statutory financial regulator, shown on that regulator's own register, in the name of the company that holds client money.
- Removal of the Bank of Russia warning, or evidence that it names the wrong company.
- A published client agreement naming the contracting company, and removal of the GURS regulation claim and the untraceable award badge.
- Verifiable resolution of the open withdrawal complaints, such as public replies on Trustpilot or Forex Peace Army confirming payment.
- In the other direction, a credible report of a fee, tax or extra deposit demanded before a withdrawal is released, or a warning from a second regulator, would move this to a confirmed scam.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Bank of Russia warning list entry
Names TIM GROUP INC, PROFIFOREX CORP and FOREXSTART and lists profiforex.com (page in Russian).
Profiforex FAQ for Clients
Where the broker answers that it is regulated by GURS; open the About Profiforex questions.
Seychelles FSA licensed securities dealers
Official list of licensed dealers; it has no entry for Profiforex, Profiforex Corp. or TIM GROUP INC.
Belize FSC licensed service providers
Official Belize licensee search; use the name filter to confirm there is no TIM GROUP INC. entry.
UK Companies House: TIM GROUP INC
Shows TIM GROUP INC as a Belize-law company at the Blake Building address Profiforex publishes.
Trustpilot reviews of profiforex.com
Client reviews, including withdrawal complaints.
Frequently asked questions
Quick answers about this broker’s safety.
Is Profiforex a scam?
We rate Profiforex a likely scam. It holds no financial licence, presents a private fund called GURS as its regulator, and the Bank of Russia lists its operator among companies showing signs of illegal activity. Clients on several review sites report withdrawals left unpaid for months.
Is Profiforex a fraud?
No court or regulator has found Profiforex guilty of fraud, so we do not call it one. The record does show a Bank of Russia warning, a false claim of regulation and a long-running pattern of unpaid withdrawals, and on that evidence we assess the risk of fraud as high.
Is Profiforex regulated?
No. Its FAQ says it is regulated by GURS, but GURS is a private website with no legal authority over brokers. We found no entry for Profiforex, Profiforex Corp. or TIM GROUP INC. on the Seychelles FSA or Belize FSC registers.
What is GURS, the Global Unite Responsibility System?
GURS is a website that calls itself a non-profit dispute-resolution fund for brokers. It lists only eight brokers, including Profiforex and its sister brand ForexStart, and its Profiforex profile reuses Profiforex's own company text. It is not a regulator, and its certificate gives clients no legal protection.
Can I withdraw my money from Profiforex?
Some clients have been paid, but many report that they were not. Reviews from 2013 to 2025 describe withdrawal requests pending for weeks or months, profits removed after a request and accounts closed with money inside. If you have funds there, request a full withdrawal now and keep records.
Is my money safe with Profiforex?
No regulator supervises how Profiforex holds client money, and no compensation scheme covers you. Its claim of segregated accounts at AA+ rated banks names no bank and cannot be checked. Its refund policy also allows it to freeze your balance if you dispute a card payment.
Who owns Profiforex?
The site says the brand is owned and managed by TIM GROUP INC., Corner Hutson & Eyre Street, Suite 302, Blake Building, Belize City. The footer still names Profiforex Corp., which gave a Seychelles address in 2013. The Bank of Russia warning also names CARMEL INVESTMENTS CONSULTANTS INC. and the ForexStart brand alongside them.
How long has Profiforex been operating?
The domain profiforex.com was registered on 6 September 2006, and archived pages show the brand trading by January 2011, so its claim of being established in 2010 is plausible. Its age is not the problem: the missing licence, the regulator warning and the withdrawal complaints are.
Is Profiforex a clone of another broker?
No. We found no sign that it copies another firm's name, licence or identity. Profiforex is its own brand and runs alongside a sister brand, ForexStart, on the same platform.
What does the Bank of Russia warning say?
The Bank of Russia keeps a list of companies showing signs of illegal activity on the financial market. Its entry for TIM GROUP INC, CARMEL INVESTMENTS CONSULTANTS INC., PROFIFOREX CORP and FOREXSTART, added on 1 February 2021 and updated on 21 January 2026, records signs of an unlicensed securities market professional. It lists profiforex.com and dozens of ForexStart web addresses.
How is Profiforex related to ForexStart?
They appear together on the Bank of Russia warning and share the MobiusTrader 7 platform, the GURS badge, the 500% bonus and even identical news posts. Forex Peace Army also lists ForexStart as a related website. Treat them as one operation.
Is the Profiforex 500% bonus worth taking?
No. The bonus is credit, not cash, and converts to withdrawable money at about 1 dollar per standard lot traded. Each withdrawal removes five times its amount from the bonus, and the bonus raises leverage to as much as 1:3000, which can wipe out an account fast.
What should I do if Profiforex will not pay my withdrawal?
Keep every email, ticket and screenshot, write to finance@profiforex.com with a clear deadline, and ask your bank or card issuer about a chargeback or recall. Report it to the financial regulator in your country. Do not pay anyone, the broker or a recovery firm, to release your money.
What should I check before depositing with any broker?
Find the broker's licence number and look it up on the regulator's own website, not the broker's. Check that the company name and website on the register match the site you are using. Read recent withdrawal reviews on more than one platform, and be wary of large deposit bonuses and extreme leverage.
What we recommend
The practical takeaway from everything above.
Do not open an account with Profiforex or send it money. If you already have funds there, act now.
- Request a full withdrawal and keep screenshots of your balance, trade history and every message with finance@profiforex.com and support@profiforex.com.
- Turn down the deposit bonus. It is credit, not cash, and each withdrawal removes five times its amount from the bonus.
- Never pay a fee, tax or insurance charge to unlock a withdrawal. That is a classic advance-fee trick.
- If you paid by card or bank transfer and cannot get your money back, ask your bank about a chargeback or recall quickly. The broker's refund policy says it may freeze an account when a card payment is disputed, so withdraw what you can first.
- Report the problem to the financial regulator where you live, and ignore recovery services that ask for money upfront.
- Before using any broker, find its licence on the regulator's own register, not on the broker's website.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed November 6, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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