I wonder if it’s truly in negative balance? E.g. what if they actually didn’t put the trade in? 
Hi, this broker is regulated? Regards Greg
Who is the broker? Are they the counterparty?
Profitix. Was all going well, using Metatrader 5, then it blew up and they’re just after more money. I do earn a lot outside this, so the loss won’t ruin me. I watched Wolf of Wall Street last night and what happened to me looked very familiar. Lots of profitable trades to begin with so I deposit more, with there encouragement then boom one trade and I’m out.
All I want to know is an opinion on whether they would chase for the negative balance. Probably not as they’ve done well out of me already, but want to be prepared.
This broker is not regulated 
Yes, I’ve been done good and proper. Very expensive decision.
It seems that the broker is clearly searching for people to scam, with their registered address in Saint Vincent and the Grenadines. Quite an old story, I’m very sorry for you, but it seems hard to believe that in 2020 there are still people falling for it, with all the info about trading that you can find for free online.
I tried to type Profitix on Google, to look for this broker to tell you more. The first result suggested by Google was “Profitix scam”.
My suggestion is: let them deal with the negative balance, close your account and don’t talk to them anymore.
Next time you have $50K, do your due diligence before wasting it or just go to Vegas, at least you will have fun 
@daddymap You are scammed, they hunt for ignorant traders like you! They will chase you for the negative balance and threaten to sue you. Just ignore them, drop your communication with them. They can’t do anything except harassing you, report to your local authorities if they do. Next time, look for a legitimate and regulated broker and do your due diligence.
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Having just gone through the exact same scenario with an unregulated broker operating out of Cyprus (which is obviously the case here, because regulated brokers do not do what your describing) this is what I did. The amounts are vastly different though. Mine was just a thousand or so AUD. I spent hours on the phone arguing the toss, using their own withdrawal terms and conditions and the legality under international law regarding money laundering, suspicion of funneling terrorist funds and any other thing I could think of. I spoke with 5 “senior” finance managers. They conned me with a “bonus” that locked me into trading a certain volume before I could withdraw etc.
Finally it changed when I told them I had spoken to the Australian Federal Police internet fraud and terrorist activities department and was lodging a formal written complaint. Suddenly I had my original account manager on the phone very sympathetic, “I don’t know how this all happened yah de da da” and an emailed waiver. If I signed that I got my money. I signed and did get my money.
Now I am working out how I can pursue this company without being sued. It occurs to me that if Australian regulators have no jurisdiction over them, then surely they have no rights to sue me in this jurisdiction. I am seeking advice.
Ok so the best you can hope for, is to keep hitting them. Use there own terms and conditions. Be on the phone for hours if necessary, write emails every day, get on their chat line every hour. Involve your local MP, TV Investigative journalists, make noise and tell them you don’t stop until you get your money back.
These scams are all over the internet. I am normally super careful, but fell for their oily words.
Best of luck.
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Possible that they chance their arm, however they are unregulated
That in itself is a defence to any action - not an advisory broker, no advisory licence - you acted on their advice - thus the loss - (and their gain).
If they hassle threaten to sue for your losses - watch out for the scam artists who will promise to get your funds back.
Thanks for all your comments. I’m changing my lines of communication so I won’t here from them again. I should have came here first, not last!
Oily words it a perfect phrase. They have no souls.
I am formulating a plan to punish them, but may take a while.
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I wouldn’t cut off communication, once I mentioned investigative journalists here in Australia, (not sure where you are) I mentioned two well known programs, 60 minutes and Four Corners their tune started to change. Then when I pointed out that even if nothing came of it, mentioning the suspicion of them being a front for terrorist funding, the international authorized would be bound to investigate and at the very least cause their company a real headache, literally ten minutes later they emailed me the waiver.
That tells me these brokers are scared of too much exposure.
If I was you, I would hammer them every day, until they fold.
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Your loss is their gain.
This cycle will keep repeating itself for as long as you allow it to.
Since you don’t want to learn how and trade for yourself, my advice would be to walk away from this one.
If you do, consider looking for another broker where you would be able to deposit, trade and withdraw hassle free.
Good luck.
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Hi Daddymap. It looks like we’re in the same situation. I have a contract signed for 4000 lots and trades in a very bad shape…
I don’t think that I will manage to do all of them…
Did you manage to organise something or you’re still fighting?? Maybe we could join our forces??
I took advice from the financial conduct authority (FCA) in the UK and they advised me that they are scammers. I gave up communicating with them and cut my losses. They can’t chase a negative balance as that would require legal action and as they have no authority to offer these financial services in my country, they would be laughed out of court. I told them this and they left me alone for a while. They have tried again to contact me, saying they are sorry for the loss and would like to ‘investigate’ and maybe refund me, but advice from Wealth Recovery Experts said that this is a trap to drag you back in. That was two months ago and I’ve not heard from them since.
I think it’s a Ponzi type scheme, where they have to keep getting new people to deposit to repay the earlier people making withdrawals, which is why they are so persistent in getting you to keep depositing. It’s highly likely that they are not putting the trades to market and you are simply betting against them, like a bookmaker.
Whatever you do, do not accept a credit from them and do not add any more of your money to save the balance.
Sorry I cannot be more helpful, other than to close what you can and get out or perhaps contact Peter Wright at WRE, who is very helpful.
Thanks for the reply.
I guess I will do the same thing.
Cheers!
Hi to you, I am so unhappy to hear about your problems and losses at Profitix, as I think they are great and trustwurthy.
What is your advisor called?
I have being doing business with them since nov 19.
Just to make you feel better daddymap I lost six figures : $367,000 AUD to Profitix over nine months. They are a scam.
FBI and HSI are on their trail and these dogs will have their day.
Thanks for your disheartening experiences. Where with whom are you doing your investments, who is it you can trust and do business with? Who will you recommend?