Editor’s Verdict
Profitex, founded in 2023 by Australian-based FinTech company PropTradeTech, has an 80% profit split on five funded account options and offers the trading platform of respected Australian broker, Eightcap.. It deploys a simple one-step evaluation process without time pressure. My Profitex review evaluated the trading conditions to give prop traders an in-depth look at what to expect. Should you go ahead with the Profitex evaluation challenge?
Overview
Headquarters | Australia |
|---|---|
Year Established | 2023 |
Trading Platform(s) | DX Trade |
Minimum Evaluation Fee | $129 |
Profit-share | 80% |
Daily Loss Limit | 7% |
Maximum Trailing Drawdown | 10% |
Funded Account Options | 5 |
Minimum Funded Account | $15,000 |
Maximum Funded Account | $200,000 |
Profitex features five funded account options with a one-step evaluation process.
I like the absence of a time limit during the evaluation period, as it eliminates unnecessary time pressure on top of performance pressure. In offering prop traders the Eightcap trading platform, it delivers competitive Forex trading conditions, and Profitex has a generous daily drawdown limit.
Profitex Trustworthiness & Reputation
Trading with a prop firm, an unregulated business, requires traders to ensure that a trusted brokerage handles all accounts and that the prop firm maintains an excellent reputation among its prop traders. By offering the trading platform of Eightcap, an Australian broker, Profitex provides a strong level of confidence and stability.
Is Profitex Legit and Safe?
Profitex, founded in 2023 by Australian-based FinTech company PropTradeTech, ranks among the more established retail prop trading firms.
My Profitex review found no verifiable claims of fraud, scam, or malpractice, but it lacks a Trustpilot page or a similar review platform with a claimed profile. Therefore, I rate them as a prop trading firm interested traders can try to establish a rapport with.
Profitex Features
Profitex follows best practices established across the prop firm industry, which remains an expanding industry.
The most notable features of Profitex are:
- One-step evaluation without time pressure.
- A profit target of 10%.
- No minimum trading days for the one-step challenge.
- Trading is facilitated by Eightcap on the DX Trade platform.
- A maximum drawdown of 10%.
- 80% profit share.
- 1:30 leverage.
- Cryptocurrency withdrawals.
Evaluation Fees & Profit-Share
Minimum Evaluation Fee | $129 |
|---|---|
Maximum Evaluation Fee | $1,400 |
Profit-share | 80% |
Profitex has a one-step evaluation process, and the evaluation fee depends on the desired funded account size. Traders can choose from five funded account options with a minimum evaluation fee of $129 and a maximum of $1,400.
Please note that traders cannot change the account value once approved, meaning if they qualify on a $15,000 account, they will manage a $15,000 portfolio. The profit share at Profitex is 80%.
The minimum evaluation fee at Profitex for a $15,000 account is:
Type of fee | Fee (without discounts) |
One-time evaluation fee | $129 |
Monthly evaluation fee | $0 |
Hold-over-the-weekend | $0 |
Double leverage | Not applicable |
Stop-loss not required at trade entry | Not applicable |
Total fees for a $15,000 account | $129 |
Account Types
Traders can choose from the following Profitex account options: $15,000, $25,000, $50,000, $100,000, and $200,000. My Profitex review found no scaling options, as this prop firm keeps everything simple and easy to follow. Traders can use the DX Trade trading platform with a maximum Forex leverage of 1:30. All accounts are with Eightcap.
What are the Trading Rules at Profitex?
The Profitex evaluation begins after prospective prop traders choose their preferred evaluation account and pay the one-time evaluation fee. There is no time limit, and the profit target is 10%.
Violating the maximum overall loss rule results in a hard breach and cancellation of the evaluation.
The trading rules for the Profitex evaluation are:
- 10% maximum loss from the starting balance.
- 7% daily loss limit.
Noteworthy:
- Profitex will not grant access to live trading accounts.
- All Prop traders running a challenge or funded account are doing so on a demo account.
- It enhances risk management and compliance for Profitex.
Trading Platforms
Profitex offers the DX Trade trading platform from Eightcap. Irrelevant to the geographic location, Profitex limits the maximum leverage to 1:30. The Eightcap trading fees apply, which are competitive.
Education
Profitex does not offer education, and beginners should not consider prop trading. I appreciate the absence of tools to entice beginners into paying for an evaluation.
Customer Support
Customer Support Methods |    |
|---|---|
Support Hours | 24/7 |
Website Languages |   |
During my Profitex review, traders received 24/7 customer support via a chatbot or e-mail support. I recommend the FAQ section, as it answers many questions. Profitex keeps everything straightforward, and I did not need to contact customer support.
How to Get Started with Profitex
Interested prop traders can start the evaluation after selecting their desired package and paying the one-time fee.
Minimum Evaluation Fee
The minimum evaluation fee at Profitex is $129 for the $15,000 one-step evaluation.
Payment Methods
Withdrawal options |    |
|---|---|
Deposit options |  |
Profitex accepts credit/debit cards and cryptocurrency transactions.
Accepted Countries
Profitex does not list restricted countries, but since Eightcap provides the trading infrastructure, any Eightcap restrictions could apply.
How to Pay the Evaluation Fee?
Prop traders can pay their evaluation fee via credit/debit cards and cryptocurrencies. Please note that withdrawals are available via bank wires and cryptocurrencies.
The Bottom Line - Is Profitex a Good Prop Firm?
I like Profitex for offering Eightcap's trading platforms as this ensures that the evaluation challenges and demo accounts are provided using a trusted brokerage's platform while also enabling access to competitive trading conditions. I also appreciate the simple process at Profitex. The evaluation conditions match established industry standards but exclude time pressure, and the daily drawdown limit is the highest among prop trading firms I have reviewed. Therefore, I can recommend Profitex to retail prop traders, as it ranks among the more established providers in a fast-growing sub-sector of trading. My Profitex found no verifiable claims of fraud, scam, or malpractice, and the owner of Profitex is a duly registered company in Melbourne, Australia. Therefore, traders should consider Profitex a safe retail prop trading firm. Retail prop traders can withdraw their profit share through bank wires or cryptocurrencies. Profitex, like all prop trading firms, is unregulated but owned by a duly registered company. It also offers the trading platforms of a well-regulated brokerage. Profitex, founded in 2023 by Australian-based FinTech company PropTradeTech, is a legitimate company and ranks among the more established retail prop trading firms.FAQs
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