Profit.ly is best for…
Traders of various experience levels who want to connect with online trading communities and track the trading activities of their favorite traders. This service isn’t a trading software, but it does sync with your brokerage software to monitor, verify, and trade your trades.
This creates public track records for each user (although there are private profiles as well). By sharing this information with the community, traders can cross reference the trade history of offers with their own fundamental or technical analysis to maximize returns.
Profit.ly prioritizes transparency with its earning tracker, so it has a verification process in place to ensure that every member is a legit trader. This ensures that all the data members have access to is based on real money trading performance, not faux returns designed to influence the decisions of other members.
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Who Created Profit.ly?
Tim Sykes and Michael Mosseri joined forces to create Profit.ly in 2011. Timothy Sykes is a well-known penny stock trader, famous for—among other things—turning a measly $12,000 into an impressive sum of $2,000,000. This profitable trader was able to accomplish this simply by using penny stock trading.
Profit.ly offers a wide array of services to its users, but the platform itself largely focuses on monitoring the trading accounts of fellow users.
Users are able to monitor their own trades, follow other traders (and trading gurus), verify profits, view trader stats, view the leaderboards, and filter through trades directly from Profitly.
The service also allows users to connect with their favorite traders via personal messaging, comments, the “follow” feature, and chatroom access.
Additional resources—such as access to exclusive chat rooms, SMS alerts, and informational videos—are available with an additional subscription from Profit.ly’s online trading gurus.
Pricing & Plans
Currently, Profit.ly has three different subscription levels. The benefits remain largely the same throughout every tier, which is why we would recommend the “Novice” plan for most users.
This plan costs $29.95 per month; you can also purchase an annual subscription for $297 (an 18% discount).
Despite being the lowest tier, the novice plan unlocks nearly every feature of the platform. You’ll have instant access to trade verification, trade & profit tracking, leaderboards, various social media functions, search filters, and the ability to view user stats.
The only feature this plan excludes is the option to set your profile to “private.”
This plan costs $49.95 per month; you can also purchase an annual subscription for $497 (17% off).
All the features of “Trader” are the same as “Novice,” with one exception: a “Trader” subscription removes your ability to view the stats of other traders. However, you do gain the ability to use a private profile.
This plan costs $74.95 per month; you can also purchase an annual subscription for $697 (a 22% discount).
A “Pro” subscription restores your ability to view trader stats while still allowing you to use a private profile. Every site feature—excluding Guru-exclusive offerings—is unlocked with a “Pro” subscription.
Profit.ly used to have multiple “Gurus” on the website, with each one offering their own educational trading resources and membership plans. However, Timothy Sykes is currently the only Guru listed on Profit.ly.
He has a few different subscriptions available offering additional features such as exclusive Tim Alerts, swing trading alerts, educational videos, weekly video lessons, and other subscriber-only benefits.
- Tim’s Alerts ($74.95/month)
- Pennystocking Silver ($149.95/month)
- Trading Challenge ($197/month)
Is Profit.ly Right for You?
Profit.ly is a useful platform for traders who want to gain insights, refine their trading strategy, and perform trade analysis based on the activity of others. It places a lot of information conveniently at the user’s fingertips, but this knowledge isn’t without risk.
Less experienced traders who attempt to merely imitate the activity of other traders are less likely to profit. This is especially true for those seeking to invest in penny stocks.
As such, we recommend this platform for intermediate to advanced investors who can build their own strategies using the platform as a starting point, rather than relying entirely on Profit.ly for guidance.
However, beginners can still gain a lot of knowledge from Profit.ly; they just need to resist the temptation to make 1-for-1 trades, expecting the same results.
Join this unique online trading community, connect with fellow traders, and start analyzing trades today by clicking here!
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