Profinum

[shandy]

This new broker has gotten a lot of attention due to the low spreads they offer. However, trades beware!! A member of a trading room I'm in tried to withdraw funds from her account last week and they refused to pay her profits, and charged her "fees". Reason being is she had some trades which were less than 90 seconds and were what they deemed as scalps (apparently though her trades actually were outside their stated definition of scalps). It was only after a bit of a campaign that was waged on her behalf by other members of the room that they changed their minds and paid her what she was due. Gotta wonder how many others this may happen to who don't have the benefit of a bit of weight behind them. They are also an unregulated company with an address in the British Virgin Islands but who don't actually have any real premises - just a few "virtual" addresses in different countries (their office is "the Internet" according to their CEO). All in all their are a few reasons to be cautious for now.

[vizard]

and finally profinum is done and over with , stop losses limits everything stoped working and it was a nightmare . here is what there site says about it
"
Dear Client,

Due to a system malfunction and the extreme volatility seen last night we have sustained a large loss. In order to secure the Client funds we have no choice but to stop the online trading service – all positions that are still open at 11AM GMT, March 5th 2007 will be closed out at market price at that time.

Your money is safe.

Please send a signed withdrawal form as follows:


* fax to: +44 20 77883407
* email to: withdrawals@profinum.com - Download the withdrawal form


We are truly sorry about having to stop our service, but our top priority is the safety of your money. We thank you for being a Client and hope that you will find a good broker for your Forex trades.

Profinum "

though honestly speaking i still doubt about if they will let the clients withdraw the money at all .