Stock trading can be a high-stakes game. On some days, you could be reaping the benefits of positive and satisfactory numbers. On other days it could be the reverse and it can be very difficult to get back to where you were your peak. If you are immersed in the water You will need to recognize that relying on your instincts and preserving may not always be enough.
If you’ve suffered losses from time to time You’ll need sound advice from tried-and-tested trading experts. You’re also gonna need an important boost from fellow traders from around the world, which is why we’ve identified an option that can help you to improve your performance in the industry. This review will be taking an in-depth look at Profit.ly A well-respected all-in-one social platform for trading!
For those of you who prefer a more visual experience, here is a video review from Mark Gossage’s YouTube channel. To get a comprehensive overview of Profit.ly, you may still want to check out our article below.
Total Rating: 4.1/5 Covestor Timothy Sykes
Value: 4.1/5
Quality: 4.1/5
Costs: 4.1/5
The User’s Experience 4.5/5
Summary
Profit.ly offers an internet-based trading service that permits traders of all levels to be knowledgeable, transparent, accountable, and uplifting with one another through its wide variety of tools and features like trade verification, chat rooms, and an enriched library of educational content.
What exactly is Profit.ly?
Profit.ly is a site for trading that serves both as a learning and education platform for those who are starting out and as a hub for traders with experience to keep track of their performance with the help of cutting-edge analytics tools. It provides users with a vast range of resources for trade and communication that help traders from all walks of life connect with one another. It offers gurus with worthy investments within the boundaries of this platform. Think of it as the social media equivalent like Facebook and Reddit, but for traders and experts.
Profit.ly independently validates trade performance and then publishes the information from them in the form of leaderboards. The platform’s trading model is based on trust and transparency. it ensures that the trades are authentic and won’t tolerate inauthenticity as much as it is possible. It was created many years ago by penny expert in stock trading and investment expert Timothy Sykes, along with the other expert Michael Mosseri.
One time during his appearance in Forbes magazine Sykes said that Profit.ly was motivated by its focus “on showing all trades, something that has never been previously done.” The idea Sykes said served two objectives: one) making public records for all traders, not just the gurus, but also the newsletter authors and students and secondly) making it possible for all users to be enlightened by both the wins and losses to benefit the industry of trading. Covestor Timothy Sykes
How Does It Perform?
Profit.ly utilizes a subscription model that lets stock traders gain access to a multitude of tools and services that are geared towards achieving success. It is possible to create an account there for free, but you’re only given the capability to browse the leaderboard and observe the actions of non-gurus. If you’re interested in investing your money and see which stocks the gurus are trading in real-time You’ll need to subscribe to any of Profit.ly’s deals that we’ll go over shortly.
The process of opening an account is easy: create a profile with your experiences and knowledge, then connect to your brokerage account, and you have yourself an opportunity to make your way to high on the leaderboard. Profit.ly’s leaderboard feature, as previously mentioned it is designed to provide its users a glimpse of their performance as a trading group as well as its experts. You’re not just allowed to prove that you’re worthy to the large group of traders. You can also use Profit.ly to purchase with a guru, and have the assurance that you’re confident with their expertise and the credibility of their claims.
If you’re not comfortable with the concept of leaking information about your account with a brokerage, you may decide to share your trades, verified or not, via screenshots. In Profit.ly are a variety of trading classes, the ability to view stats in a trader’s profile, and more ways to communicate with your gurus via chatrooms along with notifications via email or text as well as updates.
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Meet the Founder: Tim Sykes
Timothy Sykes is a well-renowned day trading guru who has been famously known for his efforts in trades in penny stocks. According to Investopedia, a penny stock is a small business’s stock which trades at less than $5 per share. The penny stock market could be viewed as an avenue for small-scale businesses to make the transition into a larger market because it allows them to access capital from the general public. But don’t make the mistake of thinking that it’s also a high-risk game, which Sykes will be able to tell you thanks to his years of experience.
Since his initial beginnings at the end of his time in high school, Tim Sykes has, since then, made over $6 million of profit during his long and successful career as trading professional. When he was 25 years old, he had been given greater exposure and a larger reach of influence when he was a part of the reality show “Wall Street Warriors.” Then, he took advantage of it to create trading rooms as well as penny stock themes and educational material aimed at people who are brand new to the trading field. He also helped to establish Profit.ly as a place of openness, and for the community to lift each other up and compete with each other on the platform.
The Profit.ly Gurus
One of Profit.ly’s sweet inclusions is the wide range of education sources, trade alerts and other helpful stuff provided by the platform’s in-house gurus. Gurus are referred to the experts in trading who have proven to make substantial amounts of money from their collective years of expertise. Covestor Timothy Sykes
At its peak, Profit.ly had housed up to five gurus, all of them a pro within their particular field within the world of trading. Some of the most famous gurus included Connor Bruggermann, Nathan Michaud of Investors Underground, and Triforce, among a few others. At the time of writing there are only two gurus who remain on this platform: the founder and penny stock trader Tim Sykes and veteran smallcap swing trader Paul Scolardi, also known as Superman. In light of that, let’s take a look at what packaged deals each guru can offer.
From Tim Sykes Tim Sykes: Tim’s Alerts
Sykes offers an essential stock trading service which focuses on penny stock day trading through Tim’s Alerts. At $74.95 monthly, you will be able to see him concentrate on the fundamental stock catalysts and use them to predict the next possible moves in trading.
A purchase on its own of Tim’s Alerts will get you access to the chatroom and the mobile application that is available for iOS and Android devices; email, text and push alerts; and a daily stock watchlist.
From Tim Sykes: The Pennystocking Silver Package
Pennystocking Silver is the premium version that has been upgraded of the Tim’s Alerts package. Priced at $149.95 for a month it is an ideal plan for investors who are committed to investing in penny stocks. Pennystocking Silver includes all the basic features found in prior plans, which includes alerts for swing trading and access to a library of more than 7,000 instructional videos, with new ones released weekly.
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From “Superman” Paul Scolardi: Superman Alerts
Scolardi, who goes by the name “Superman,” is a trader who has an eye for massive stocks of the small-cap size and insanely accurate marketing forecasts. Since he began as a trader, Superman has amassed over $5.5 million in total trading profits. Covestor Timothy Sykes
The Superman Alerts package is his offering of essential features and alerts on trading geared toward those who may be interested. For just $147 per month, you’ll have access to the daily stock watchlist that is premarket as well as the mobile app, the daily market commentary in real time, and SMS and e-mail alerts.
From “Superman” Paul Scolardi: Superman Pro
For the price of $247, you receive additional features, as well as access to a knowledgeable base of information provided by Superman himself via his Superman Pro package. On top of the essentials included in the Alerts package, Superman Pro gives you weekly video lessonsthat include the growing collection of the previous ones. On top of that you’ll also gain an access to high-quality research papers and the IPO and earnings tracker.
Profit.ly Programs and Costs
If you’re looking to join the trading community on the internet and leave a mark in the industry, Profit.ly has the right amount of tools to get you up and running. The platform has three membership tiers, each designed for traders of different levels. Let’s take a look at what these three are and how much they’ll cost you.
Novice Plan
The Novice package is Profit.ly’s basic plan that is designed specifically for people who are brand new to the world of trading. As you sign up for this package, you will be immediately given a slew of robust and essential trading tools, all of which is essential to keep your fingers on what we could call a ruthless process by itself.
Among the list of things you can accomplish using Profit.ly’s Novice package is the ability to verify the results of your trades and track profit as well as leading, following and even texting other traders; and providing feedback on trades today. It also allows you to be onto leaderboards; study, sort, and filter your trades and lastly, look at other’s stats.
The Novice plan will cost $29.95 per month. While it may look attractive for the price alone but there’s a disadvantage. You can’t create a private profile, which makes your personal information public. If you do want to get an account with this option, stay tuned as we introduce to you Profit.ly’s next strategy.
The Trader Plan
The Trader plan allows you to take advantage of many of the features of The Novice package. It is in this plan that you can set up an individual profile that allows you to share with fellow associates all your insights and information you have gained from trader’s community.
Priced at $49.95/month, Profit.ly’s Trader plan does what the name suggests: Cater people who want to harness their skills in trading. Although it’s a nice thing however, there’s a crucial element that’s missing. As opposed to the prior Novice package, you won’t be able to view other traders’ stats this might be a drawback for some who may be looking forward to this tier. Covestor Timothy Sykes
Pro Plan
The Pro plan is the highest luxurious package Profit.ly offers to experienced traders. It costs $74.95 monthly, with a 22% discount for annual billing, this tier has it all. It gives you full, unlimited access to all the features of the previous plans combined.
Not only do you get to view other people’s stats, but you’re also given the option of creating an individual profile. Both of these options, plus the other benefits that you can use to the maximum extent. If you’re looking for an account that will give you with everything you require as trader with experience, the Pro tier could be the right choice for you!
Profit.ly’s Other Services
Apart from the provided training tools and the Leaderboards Profit.ly has a few other services they provide. One of them is the online store, which allows users to pick from a range of instructional videos that are designed to inform and guide you through the ins and outs of trading. The products listed on this page of the website is available to be purchased immediately for personal use. Some of these include bestsellers such as”Trading Tickers, “Trading Tickers” series from trading specialist Tim Grittani, Timothy Sykes’s library of DVDs and streaming-only content about penny stocking, short stocking, and all other things trading-related, clips and footage from The Annual Pennystocking Conference, and other products by expert traders.
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The integrated chat rooms are also part of Profit.ly’s range of services and features. You’re probably familiar with the chat room since you can find it throughout social and messaging platforms in addition to a few special websites that offer live chat support. But in Profit.ly it’s seen as a real-time area where experts and member traders can communicate and exchange knowledge in real-time. Each guru has their style when it comes to running their chat room and dealing with the members there. One of them may be a laid-back person who is rarely engaged, while another could be more online and communicative with their students. Think of the chat rooms as Profit.ly’s version of a forum, in its essence.
Who is the Ideal trader to Profit.ly?
Profit.ly’s wide range of products and features are geared towards an array of stock trader types, from novices to the most experienced. With the variety of deals it has to offer it is certain to have something for everyone.
Newbies, for instance, will appreciate Profit.ly’s knowledge-based information available on the platform. In addition, they will be provided with videos every week and chat room advice by its internal gurus as well as their members. They’ll also be able choose from the items in its online store that they can take with them wherever they may travel. You can also get hands-on experience trading on the platform, but ultimately, they will soon learn that the process is a high stakes game that shouldn’t be taken as an amusing pastime.
For those traders who have had many years of experience down the line, we believe Profit.ly equally suitable to people who are just beginning. While novice traders may not be as proficient in handling trading matters, the pros already understand how it works along with the risky mix that it carries. It is ideal to make use of Profit.ly’s variety of features to their best advantage to improve their trading abilities. Like novices, they can learn from the top experts as well as experts, and take advantage of simple tips and hints to help them along.
Profit.ly’s ‘all-together’ nature isn’t limited to novices and semi-experienced traders. Certified experts can also take part in the fun! People in the trade industry who are at similar levels to Superman or Tim Sykes can also use Profit.ly’s capabilities. Profit.ly’s capabilities to display their expertise to other traders as a way to navigate them through the ever-changing trading process. Covestor Timothy Sykes
Profit.ly’s Pros and Pros and
The Pros
- Profit.ly’s diverse capabilities as a “one-stop” stock trading platform allows traders from all over the world with a wealth of education communications, trading, and communication tools
- You’ll be taught by experts and insights from its inside experts, as well as collections of educational videos as well as trading in real-time.
- You can be sure of complete transparency through Profit.ly by using accurate data and fellow traders who are ready to reach you when something goes wrong.
- The leaderboard feature of the platform offers you a way to build your reputation as a reliable and verifiable trader
- Apart from its core abilities, Profit.ly also gives its users extra options to suit their preferences, such as posting trades that are not authentic by taking screenshots
- Profit.ly’s variety of packages and subscription levels are priced at affordable rates There’s something for all
The Cons
- Profit.ly’s numerous packages and services offered could seem overwhelming for a lot of its users
- If traders decide to post any kind of trade, there’s the possibility that some of them could profit from cherry-picking the best trades to increase the rating this could be a problem that shouldn’t be simply overlooked
- Profit.ly does not offer refunds as the premium customers are expected to immediately benefit from the many features the platform is able to offer
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The Final Concluding Question The Final Verdict: Is Profit.ly Valued?
If we could think of an answer to this question, it’s a ‘yes’. However, you must realize that it shouldn’t be treated as a scheme to get rich quick. The platform was not always designed to be used for this reason. Instead, you should have an open mind. Covestor Timothy Sykes
What we mean by ‘yes’ is that it can be a great learning tool. For those who are struggling, they might be able to find Profit.ly’s range of resources useful in their efforts to incur lesser losses and be more successful than they did before. It’s not only the struggling traders who will benefit from the platform. It will be able to accommodate beginners as well as even experts in the field!
If you truly desire to be more successful in trading and would like to learn from your peers and experts throughout the process, then you should look no further than Profit.ly. Profit.ly may be a great alternative to start.
FAQ Covestor Timothy Sykes
How do you use Profit.ly to make your trades public?
Profit.ly has a trade entry portion within the “My Trade section of the dashboard that lets you post your trades that are verified or not. You may choose between three choices:
- Connecting your account to your broker of choice and import trades directly from there
- Manually entering your trades into specified spaces and information.
- Send a screen shot of your transactions
How can I tell whether the trade is authentic or not?
If you buy your trade through a reliable brokerage, there is a high likelihood that it can be verified. This is shown by the small blue check. If you upload the information manually or via images, it will be classified as unverified.
The disadvantage of an unverified trade is the chance of receiving downvotes from colleagues. If you receive too many negative votes, it could cause you to show up on the Madoff leaderboard, which is where the public can detect who’s being dishonest in posting trades.
Are the Profit.ly mobile app still available?
At the time of writing, Profit.ly is still available to download from the Apple App Store and in the Google Play store. The mobile version of the app works with all working smartphones and tablets.
How many are on Profit.ly?
Profit.ly currently houses over 150,000 investors and traders as they not only are trying to maximize profits but also help each other grow and learn more about acquiring opportunities on the stock market left and right.
