Welcome to our review of Profitly, an online platform that helps traders track their performance and provides advanced analytical tools to measure trade results. Founded by Timothy Sykes, a penny stock trader and entrepreneur, Profitly connects users with trading guru products and tracks the live, real-money performance of its community of traders.
In this review, we will delve into the features, pricing, and pros and cons of using Profitly to improve your trading strategies and results. Whether you are an experienced trader or just starting out, Profitly’s unique trade tracking system and interactive community can provide valuable insights and guidance.
But before we get into the details of Profitly.
Who is Timothy Sykes?
Tim Sykes is an entrepreneur, stock trader, and author who is known for his work as the founder of Profitly, an online platform that connects traders with expert stock pickers and allows users to track the performance of various trading strategies. Sykes is also the founder of the Timothy Sykes Foundation, a charity that focuses on education and animal welfare.
Tim Sykes gained notoriety in the early 2000s as a penny stock trader, and has since written several books on trading and investing, including “An American Hedge Fund” and “The Penny Stock Trading System.” He is also a popular speaker and has been featured in various media outlets, including CNBC, Forbes, and Yahoo Finance.
He is a strong advocate for education reform and has worked to improve access to quality education for students in underserved communities. And beyond being just an advocate of education, Sykes enjoys taking the role of an educator as well. Known to have mentored many beginning traders who’ve gone on to be extremely profitable.
Profitly offers a range of features including trade verification, trade and profit tracking, leaderboards, social media functions, search filters, and the ability to view user stats. Users can also access exclusive chat rooms, SMS alerts, and informational videos with an additional subscription.
Profitly places a strong emphasis on transparency and accountability, which is why it has a verification process in place to ensure that all member accounts are legit and based on real money trading performance. This helps to ensure that the data available to members is accurate and reliable, rather than being influenced by false or inflated returns.
This is crucial for Profitly’s leaderboard feature that ranks users based on their trading performance, allowing members to see how they compare to other traders and gurus on the platform. This can be a useful resource for finding successful traders to follow and learn from. And maybe Trade Ideas can help you climb to the top.
The platform’s unique trade tracking system provides detailed insights into each trade, allowing users to identify their strengths and weaknesses as well as any mistakes they may be making. This data can help traders build on their successful techniques and improve their overall performance. Profitly is particularly useful for traders who want to improve their skills and optimize their trading strategy.
With the ability to link your online brokerage account and automatically post your trades, you can be sure you’ll have accurate insight to become a more profitable trader.
Users can also report suspicious activity or fake trades by clicking the “Madoff” button, which alerts the Profitly team to investigate, and allows other viewers to be prompted to weigh the legitimacy of an individual trade as well.
In addition to tracking and analyzing trades, Profitly also offers a range of social features that allow users to connect with each other and share ideas and strategies. Users can follow other traders, send personal messages, and participate in chat rooms and discussions. The platform also offers SMS alerts and exclusive videos to premium subscribers.
Profitly offers three different subscription levels:
- Novice Package: This plan costs $29.95 per month, or $297 per year (18% discount). It includes trade verification, trade, and profit tracking, leaderboards, social media functions, search filters, and the ability to view user stats. The only feature not included is the option to set your profile to private.
- Trader Package: This plan costs $49.95 per month, or $497 per year (17% discount). It includes all the features of the Novice plan, except for the ability to view the stats of other traders. It does, however, allow you to use a private profile.
- Pro Package: This plan costs $74.95 per month, or $697 per year (22% discount). It includes all the features of the Novice and Trader plans, as well as the ability to view trader stats and use a private profile. It also unlocks all site features, except for those exclusive to the Guru subscription.
Overall, Profitly is a comprehensive platform that offers a range of tools and resources to help traders improve their strategies and connect with others in the trading community. The focus on transparency and accountability is particularly appealing, and the social features make it easy to share ideas and learn from others. While the subscription prices may be a bit steep for some users, the range of features and resources on offer make it worth considering for serious traders. Click here to check out Profitly today.
For those who are more long-term-minded investors, check out Seeking Alpha.