Welcome to our Profitly review!
In case you have been trading live stocks on your own, you know how trying this process can get. You can spend an entire evening analyzing potential entries only to end up making significant losses when trades swing against your expectations. But what if you could work with a mentor who has been through all the ups and downs? You could learn from their mistakes, increase your winning trades and minimize your losing streak. Well, that is at least what Timothy Sykes promises to aid upcoming traders do. But how exactly does the system work? Does it live up to expectations? This review on Profitly takes a keen interest at the trading platform that is jeered and cheered in equally.
Profitly Review
The program of Profitly comes in a multi-package. It claims to guide upcoming practices on the best practices of making the most of their winning streaks as far as trading volatile currencies and commodities are concerned. Profitly is a brain-child of Timothy Sykes and Michael Mosseri. Timothy is the one who conceptualized the platform based on his experiences as a trader.
Apparently, he really struggled to make it as a first-time trader and ended up losing a lot of money. However, over time, he managed to learn a thing or two about successful trading and incorporated this to create an approach that educates traders on what moves to make and the mistakes to avoid. Michael, on the other hand, is the guru who put the pedal to the metal and built the platform from scratch.
Profitly has been in existence for many years now and has so far attracted over 136K traders. Part of the Profitly success, it seems, comes from their ability to dispense confidential information with premium account holders. The information shared, or should we call it market intelligence, comes in the form of analytics.
For example, if we talk about the interplay between United States Dollar (USD) vs Great Britain Pound (GBP), the Profitly team would share analytics to the effect of what trends the pair is likely to take. Profitly would also provide you with analytics such as recent and planned announcements by the FED or any likely occurrences within the British economy. Such data is acquired from historical trends, technical analysis as well as semantic analysis.
A great thing about Profitly is that it safeguards the trader’s anonymity and at the same time offers actionable information to improve the outcomes of trading. We wrote another review on a trading company which you can see if you visit here.
Profitly provides a free demo account from where one can learn the ropes without risking their money in any way. There are over 30 brokers listed with Profitly. It removes the hustle of having to unearth a genuine escape from the shoulders of an forthcoming trader.
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Profitly – The Team
One of Profitly’s unique aspects is the presence of a leaderboard wherein the day’s best trades are mentioned. As you would expect, most of the trades ranked on this board are ones made by Profitly gurus. As a user, all one needs to do is subscribe to respective guru services which may include text alerts, email alerts, live chatrooms or even outright training. If one Profitly guru’s advice does not live up to your expectations, then you have an opportunity to try others as provided for by the system.
Truthfully, while this can provide one with the flexibility needed to switch between gurus, this can sometimes turn out to be a frustrating venture. An unfortunate trader, for instance, might end up buying a subscription from one guru, then another, and even Tim Sykes himself, but in the end, they would end up canceling the subscription in addition to the risk of their income drying up. This happens, but just like in any other market, there are those who are lucky enough to eke out a living out of this highly competitive system.
Profitly Plans:
Two large categories of plans make up Profitly. Hence, it is a little overwhelming navigating through the whole list of options. thus, it is important to break it down. First, you will find the Profitly standard plans. These are available under the “Pricing” section of the website. Basically, these are cheaper packages and they provide you with a chance to build networks within the site. The Profitly free package also falls under this three-tier category. Apart from those, you will also find various Guru Plans. These can be accessed through the “Guru” page of their website.
Standard Plans
More focus is made on small cap and penny stocks by the site and the styles are either short-term swing or intra-day trading. Of course, the beauty of this approach is that you get to see instant results on all your trades, unlike monthly or yearly trading where growth tends to be a little slow.
There are 3 tiers available in Profitly. Each one of them has its own fair shares of advantages and the higher you move up the tiers, the more features you can access.
Free User Account
You need only few seconds to create a free account on Profitly. They only require your basic details like your name and email address. Once the account is created, a confirmation email will be sent to your email inbox. The confirmation link provided will launch your account from where you can enjoy limited privileges such as.
- Importing trades from a stockbroker
- View account statistics
- View your ranking
- Access the blog and other community posts
- Basic account settings
You can use the Profitly free account to get a hang of how things are done over here, the truth is that this level might limit your prospects. For instance, you will not enjoy access to any of the company’s premium services. Your access to the community and chat features will also be seriously limited. Add that to the fact that you will have to contend with pop-ups each time you click on a feature reserved for premium users.
However, the free account provides you with an opportunity to establish a base that you can grow over time. Then once you are comfortable with the deals on offer, you can upgrade to a premium account.
Novice Package
The Profitly Novice package. It costs $29.95 monthly. This level allows you to track profits, verify trades, access leaderboards, comment on trades, follow your favorite traders, communicate with other traders, view other people’s stats, sort, and filter trades.
Trader Package
With the addition of the ability to create a private profile, this Profitly package allows you to access all the benefits of a novice package. It is priced at $49.95 monthly Note that, most of the trading intel is exclusively shared on these private profiles. This, according to the Profitly website, is a precaution taken to safeguard their position in the industry. It is not like the Novice package though. The Trader Package does not have the option to View Other People’s Stats. This is an important feature because, as a trader, it is always wise to compare notes and this can only happen if you are able to track your counterparts’ stats.
Pro Package
The Profitly pro package costs $74.95 monthly. However, there is a discount arrangement of 22% if you make a yearly subscription. Looking quickly at this tier will disclose that it is in fact a fusion of both the Novice and Trader packages. If you are looking to access all the unlimited features, then this is the ultimate package to go for.
Guru Packages
You will be welcomed by a large, orange call-to-action button reading “Need Guidance?” once you login into the system. Click on this button and you will be redirected to a page with the three main Profitly gurus.
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Guru One: Penny Stocks Trainer
Tim Sykes teaches the penny stocks trading on Profitly. His Profitly account stats, if the figures appearing on the website are anything to go by, read +$4.7 million dollars. The website also makes a claim that Sykes’ students have collectively made $16 million since they started trading through his advice. Tim’s penny stock training package is broken down further into two packages.
Tim’s Alerts
This Profitly package will cost you $74.95 monthly. Being the lowest tier available under Tim, it gives you access to daily chatroom access, 5 to 10 stock watchlist per day. You also get an opportunity to download a specialized app through you can be receiving real-time push alerts based on Tim’s trades.
Pennystocking Silver
This is a much more advanced Profitly package. It will cost you $149.95 monthly. Here, you will enjoy access to all the features available under Tim’s alerts in addition to video lessons from Tim himself.
Guru Two: Premium Research Trainer
The stats on Profitly of Paul Scolardi or who also calls himself Superman points out that his trades have yielded +$3.7 million in profits. Superman is marketed as a veteran smallcap swing trader. Apparently, he buys stocks of explosive potential based on his incredible ability to spot momentum ahead of everyone else. You will find two special packages in Profitly under this particular guru.
Superman Alerts
This Profitly package will set you back $147 per month and in exchange, you will enjoy access to the chatroom, premarket stock watchlist, email/SMS alerts, real-time trade alerts, and Profitly app.
Superman Pro
The so-called Superman will offer all the benefits of Superman Alerts package in this package, along with video lessons, earnings tracker, premium research reports, and IPO tracker. This Profitly package goes for $247 monthly.
Guru Three: The Market Educator
Matthew or Triforce is the last of the three top gurus who rank atop the Profitly hall of fame. He boasts an outstanding track-record which, apparently stood at 100 percent returns in 2015 and 600 percent in 2014.The Profitly guru claims to implement a proprietary algorithm which simplifies trading among his students. His Profitly tally indicates a profit portfolio in excess of $1.5 million.
Triforce Trader
This Profitly package will cost you $99.95 per month and in it, you stand to gain access to the Triforce chatroom, daily market commentary, stock/options trades, futures trades, macro plays, and free Profitly app download.
Triforce Platinum
This is a high-priced Profitly package as it will set you back $197. In addition to the features offered under the Triforce Trader platform, you will also enjoy access to investor indicators and active trader indicators.
Overall Website Experience
The Profitly website loads pretty fast and its features are easy to navigate. Its layout is easy for anyone, even a beginner to understand. The Profitly registration process is also quick and fun. There are quite a few incidences of typos especially on the sales pages. Also, the presence of a wide-raft of subscription plans can leave one confused on which option to take. That’s, of course, is made worse by the fact that a few of the Profitly packages may cost an arm and a leg for some.
Profitly User Reviews
Opinion about the legitimacy of Profitly is divided right in the middle. Of course, the existence of a rather complicated stream of packages is partly to blame for this scenario. Majority of the Profitly complaints we came across were from individuals who subscribed to a package only to end up losing money in trades. The site, however, makes it clear from the onset that trading is not for the faint-hearted and that only those bold to invest what they can afford to lose should join the bandwagon.
Despite the Profitly negative reviews, Profitly is not a scam. It is just another learning platform where you can be mentored by the big boys by paying fee. There are those who swear by the system’s ability to increase one’s trading potential. In fact, the sites ability to uphold data transparency and share some secret tips with its top-tier users sounds like a pretty reasonable working arrangement.
Profitly Review – Verdict
Profitly is not a site where you can start making huge amounts and even quit your boring 9 to 5 job in the next few weeks. It is a platform that one can learn gradually how to trade but still bearing in mind the possibility of making losses.
Avoid Profitly if you are looking for a quick way out of your financial woes. You can however approach it with an open mind if you wish to gather a few trading tips here and there from one of the experts.
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