The stock market can be an exciting game with high stakes. Some days, you might be reaping the benefits of positive and satisfactory numbers. On other days it could be the reverse and it can be extremely difficult to return to where you were at your most productive. If you find yourself immersed in the water it is important to realize that relying on instinct and survival may not always be enough.
If you’ve suffered loss from time to time and you’re likely to require sound advice from tried-and-tested trading experts. You’re also gonna need an enormous boost from your colleagues in the market from all over the globe. That’s why we’ve identified an online platform that will help you in your growth in the industry. In this review, we’ll take a look at Profit.ly, a well-recognized one-stop 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 Penny Stock Taxes
User Experience: 4.5/5
Profit.ly can be described as an online platform for trading that allows traders of all levels to be informed responsible, transparent, and uplifting with each other by offering a wide variety of tools and features such as chat rooms, trade verification, and an enriched library of educational material.
How do I define Profit.ly?
Profit.ly is a site for trading that functions as a training and learning platform for traders who are just beginning their journey and also as a platform for traders who are experienced to monitor their performance using the aid of sophisticated analytics tools. It provides users with a vast range of resources for trade and communication, it helps traders from all walks of life connect with one another. It gives the gurus worthwhile investments within the confines of this platform. Consider it a social media site akin the likes of Facebook and Reddit, but for experts and traders.
Profit.ly independently checks the performance of trades and posts all the data of them in the manner of leaderboards. The platform for trading is built on transparency and honesty: it guarantees that the trades are authentic and won’t tolerate inauthenticity as much as it is possible. It was established in the past by penny expert in stock trading and investment expert Timothy Sykes, along with his colleague Michael Mosseri.
One time , during an interview for Forbes magazine, Sykes said that Profit.ly was motivated by its focus “on showing the entire spectrum of trades, something which was never previously done.” The idea Sykes said served two objectives: one) keeping track of public data for all traders, not just the gurus as well as newsletter authors and students, and 2) making it possible for all users to gain insight into both the wins and losses to benefit the industry of trading. Penny Stock Taxes
How Does It How Does It
Profit.ly utilizes a subscription model that lets stock traders benefit from a variety of tools and services that are geared toward success. It is possible to create an account for free, but you’re only given access to the leaderboard and observe the actions of non-gurus. If you’re interested in investing your money in order to find out which stocks the gurus are trading in real time, you will need to sign up to one of Profit.ly’s offers, which we will discuss in the near future.
The process of opening an account is easy: create a profile with your experiences and expertise, connect to your brokerage account and you’ll be given an opportunity to make your way to the top of the leaderboard. Profit.ly’s Leaderboard function, which was previously mentioned it is designed to provide its users a glimpse of how the community of traders performs and its experts. You’re not just allowed to prove that you’re worthy to the group of traders, as you are also able to use Profit.ly to shop with a guru, and have the assurance that you’re comfortable with their expertise and the credibility of their claims.
If you are unsure about the idea of divulging the details of your broker account then you could choose to publish your trades, either verified or not, by taking screenshots. Included in Profit.ly are a variety of courses in trading as well as the ability to look at stats in a trader’s profile and other methods to communicate with your gurus via chatrooms as well as text and e-mail alerts and updates.
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Meet the Founder: Tim Sykes
Timothy Sykes is a well-renowned day trading personality who is well-known for delving his hands into trades in penny stocks. According to Investopedia Penny stock refers to a small company’s stock which trades at just less than 5 cents per share. Penny stock trading can be seen as an avenue for small businesses to transition into a larger market because they can access funds from the public. But don’t make the mistake of thinking that it’s also a high-risk game, which Sykes is sure to reveal because of his decades of experience.
Beginning in the latter years of High School, Tim Sykes has, since then, made over $6 million of earnings throughout his illustrious career as trader. When he was 25 years old Sykes was given greater exposure and a larger reach of influence when he became part of the reality TV show “Wall Street Warriors.” He used the opportunity to establish trading rooms as well as penny stock themes and educational content geared toward people who are brand new to the trading field. He also helped establish Profit.ly as a place of transparency and for the community to uplift and compete with each other on the platform.
The Profit.ly Gurus
One of Profit.ly’s most appealing features is the variety of education resources, trade alerts, and other helpful stuff provided by the platform’s in-house gurus. The gurus in question refer to the trading experts who have made substantial profits from their collective years of knowledge. Penny Stock Taxes
At its height, Profit.ly had housed up to five gurus, each of them an expert in their niche in the field of trading. Some of the prominent experts included Connor Bruggermann, Nathan Michaud of Investors Underground, and Triforce as well as a handful of others. At the time of writing, only two gurus remain on the platform: the founder as well as penny-stock trader Tim Sykes and veteran smallcap swing trader Paul Scolardi, also known as Superman. With that taken into consideration Let’s look at what packaged deals each guru can offer.
From Tim Sykes: Tim’s Alerts
Sykes offers basic stock trading services 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 forecast the next moves that could occur when making trades.
A purchase on its own of Tim’s Alerts will get you access to the chatroom, as well as the mobile app that’s available on iOS and Android devices; email, text and push alerts; as well as a daily watchlist of stocks.
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 per month, it is the perfect plan for those who are invested in penny stock trading. Pennystocking Silver offers all the essential features of the previous plan, which includes swing trading alerts as well as unlimited access to a collection of more than 7,000 educational videos, with new ones released each week.
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In “Superman” Paul Scolardi: Superman Alerts
Scolardi who goes under the alias “Superman,” is a professional in swing trading with an eye for both small-cap monumental stocks and crazy-accurate marketing forecasts. In the time since he began as a trader, Superman has amassed over $5.5 million in trading earnings. Penny Stock Taxes
The Superman Alerts plan is an offering of essential features and alerts on trading geared to those interested. For just $147 per month, you’ll have access daily stock watchlist that is premarket as well as the mobile application, daily market updates in real-time, as well as E-mail and SMS alerts.
From “Superman” Paul Scolardi: Superman Pro
For $247 per month, you can enjoy additional features, plus access to an extensive base of knowledge provided by Superman himself through the Superman Pro package. Alongside the standard features that are included in the Alerts package, Superman Pro gives you weekly video lessons, including the growing collection of previous lessons. Additionally you’ll also gain an access to high-quality research papers as well as the IPO and earnings tracker.
Profit.ly Plans and Costs
If you’re eager to join the world of online trading and leave your mark on the field, Profit.ly has the right amount of tools to get you going. The platform has three membership levels that are designed to accommodate traders at different levels. Let’s take a look at what these three levels are and what they’ll cost you.
The package called Novice is Profit.ly’s beginning-of-the-line plan specifically for those who are new to the world of trading. As you sign to this plan, you will be immediately given a slew of robust and essential trading tools, each one of them essential in keeping your hands on what we could call a ruthless procedure in its own.
Some of the features you can accomplish with Profit.ly’s Novice package include the ability to verify trades and track profits and follow-up, leading and even chatting with your fellow traders, as well as giving feedback on the trades of today. You can also get onto leaderboards; study, sort, as well as filter trades; and lastly, look at other’s stats.
The Novice plan will cost $29.95 per month. While it may look attractive just by the price however, there’s a drawback. It isn’t possible to create a private account, making your activities publicly available. If you do want to have the benefit of this service, you should keep an eye on us as we present to you Profit.ly’s next plan.
The Trader Plan
The Trader package lets users to benefit from a majority of features from the Novice plan. In this plan, that you are able to create an account that is private for sharing with fellow associate users all the insights and knowledge you gain from this trading group.
Priced at $49.95/month, Profit.ly’s Trader plan will do what the name implies catering to those who desire to develop their skills in trading. Although it’s a nice thing but there’s one important feature that is missing. Unlike the previous Novice package, this one won’t be able to view other traders’ statistics that might be a drawback for those who are looking forward to this tier. Penny Stock Taxes
This is by far the most expensive plan Profit.ly offers to experienced traders. At $74.95 per month, with an additional 22% discount for annual billing, this tier has it all. You get full, no-holds-barred access to all features of the previous plans.
Not only do you get to view other people’s stats as well, you’re also offered the opportunity to create your own private profile. Both of these features, plus the other advantages you’ll be able to use to the maximum extent. If you’re in search of an account that will give you with everything you require as trader with experience, the Pro level is for you!
Profit.ly’s Other Services
Apart from the provided tools for training and leadersboards Profit.ly provides a variety of other services they provide. One of them is the online store, which lets users select from a variety of instructional videos that are created to help you understand the ins and outs of trading. Each of the offerings listed on this page of the website can be immediately purchased for personal use. These include best-selling products like”Trading Tickers,” the “Trading Tickers” series from trading expert Tim Grittani, Timothy Sykes’s collection of DVDs, streaming-only content about penny stocking, short stocking, and other things trading-related, clips and clips taken from events like the Annual Pennystocking Conference, and items from other experts in trading.
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The chat rooms that are integrated are as well part of Profit.ly’s range of features and services. You’re probably familiar with the concept of chat rooms since you can see it across messaging and social platforms, in addition to a few special websites that offer live chat assistance. However, in Profit.ly, it is seen as a real-time place where gurus and their members can interact and learn in real time. Every guru has their own way in running their chat rooms and dealing with the members there. Some may be more laid back and rarely active, while another might be more interactive and online with their students. Consider chatrooms as Profit.ly’s version of the forum, in the essence.
Who is the best trader to Profit.ly?
Profit.ly’s wide range of products and features caters to the wide range of stock traders, ranging from novices to experienced professionals. With the variety of deals it can provide it is certain to have something for everyone.
Beginners, for instance, will appreciate Profit.ly’s knowledge-based content offered throughout the platform. In addition, they will be enriched with weekly videos and chat room tips from the in-house experts and their members. They’ll also be able to choose from the items from its online store that they can take with them wherever they travel. You can also get hands-on experience trading on the platform, however, they will soon learn that this is a high-stakes game that should not be viewed as an amusing pastime.
For those traders who have had years of exposure down the line, we see Profit.ly as equally as suitable for them as it is for people who are just beginning. Although the novices might not be as proficient in managing trading however, experienced traders know how it works and the stack full of risks associated with it. Ideally, they may use Profit.ly’s variety of options to their maximum advantage to improve their trading abilities. As beginners, they are able to learn from the experts as well as experts, and take advantage of short tips and tricks throughout the process.
Profit.ly’s “all-in” approach does not only apply to beginners and semi-experienced traders. Verified experts can also join in the fun! People in the trade industry who are on an equal level with Superman or Tim Sykes can also use the power of Profit.ly’s capabilities to showcase their skills to others as a way to assist them in the ever-changing trading process. Penny Stock Taxes
Profit.ly’s Pros and Pros and
- Profit.ly’s many capabilities as a ‘one-stop’ stock trading platform enable traders from all over the world with a wealth of education communications, trading, and communication tools
- You will be taught by experts and tips from the in-house gurus, including collections of educational videos as well as trading in real-time.
- You’re assured of transparency throughout Profit.ly with accurate analytics as well as other traders ready to call you when something goes wrong.
- The leaderboard feature of the platform offers you the chance to establish your credibility as a trustworthy and authentic trader
- Apart from its main features, Profit.ly also gives its customers extra options that can be tailored to their individual preferences, for instance, posting trades that are not authentic by taking images
- Profit.ly’s wide array of packages and subscription levels are priced at reasonable prices There’s something for all
- Profit.ly’s bountiful stream of packages and services offered could seem overwhelming for a lot of its users
- As traders may opt to open any kind of trade, there’s the possibility that some of them could profit from cherry-picking the best trades to boost their rating – this may be a concern that should not be ignored.
- Profit.ly will not allow refunds as the premium customers are expected to immediately take advantage of the numerous features the platform is able to offer
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The Final Verdict is: Is Profit.ly Valued?
If we were able to come up with an answer to this question, it’s a ‘yes’. However, you must realize that it shouldn’t be treated as a quick-fix scheme to make money. The platform wasn’t originally designed to be used to achieve this goal. Instead, it is best to keep an open mind. Penny Stock Taxes
What we mean”yes” is it can be a great learning tool. For those who are struggling, they could be able to find Profit.ly’s array of resources helpful in their efforts to incur lesser loss and perform better than before. It’s not just the struggling traders who will profit from the platform. It can accommodate beginners and even experts!
If you truly desire to be more successful in trading and would like to learn from your peers and experts on the way, look no further – Profit.ly is a fantastic choice to start.
FAQ Penny Stock Taxes
What are the best ways to use Profit.ly to publish your trades?
Profit.ly has an entry section for trades in the My Trade category on the dashboard that lets you record your trades, either verified or otherwise. There are three choices:
- Linking your account to the brokerage of choice and then importing the trades from that directly
- Manually entering your trades into the spaces provided and details
- Upload a screenshot of your trades
What can I do to determine if the trade is verifiable or not?
If you import your trade from a trusted brokerage, there is the probability that it’s verifiable. This is evident by the blue check mark. If you upload the information manually or via screenshots, it will automatically be assigned as unverified.
The downside of having an unauthentic trade is the risk of receiving downvotes from friends and colleagues. If you receive too many negative votes, it could result in you appearing on the Madoff leaderboard, which is where the public can see who’s dishonest in posting trades.
Are the Profit.ly mobile application still available?
As of the moment, Profit.ly is still available to download from the Apple App Store as well as the Google Play store. The mobile app version works with all functioning tablets and smartphones.
How many people are on Profit.ly?
Profit.ly currently houses more than 150,000 investors and traders as they not only are trying to maximize profits but also assist each other to develop and grow in their ability to take advantage of stock market opportunities all over the world.