PipsForex Forex Broker

PipsForex Review Summary in 10 Points Founded 2020 Registered Country/Region India Regulation Not regulated Market Instruments CFDs across Forex, Shares, Indices, Commodities, Cryptocurrencies Demo Account Available Leverage Up to 1:500 Spread Start from 0.0 pips Trading Platforms MT5 Minimum Deposit USD 100 Customer Support Phone, Address, Email, Social media, Enquiry form What is PipsForex？ PipsForex is a global brokerage firm based in India while registered in Mauritius with branch offices in many other countries. It provides traders with access to market instruments including CFDs across Forex, Shares, Indices, Commodities, Cryptocurrencies. However, it is important to note PipsForex is currently not regulated by any recognized financial authorities which raises concerns when trading. In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance. Pros & Cons Pros Cons • Wide range of trading instruments across multiple asset classes • Not regulated • Multiple account types • Limited info on commissions • Multiple customer support channels • Reports of unable to withdraw • MT5 trading platform • Flexible leverage ratios • No deposit/withdrawal fees • Acceptable minimum deposit amount • Negative balance protection • Multiple payment methods supported • Demo account available PipsForex Alternative Brokers There are many alternative brokers to PipsForex depending on the specific needs and preferences of the trader. Some popular options include: AETOS - AETOS offers a user-friendly trading experience with a range of educational resources and diverse financial instruments. Grand Capital - Grand Capital provides traders with versatile account options and a comprehensive set of trading tools and platforms. Hirose Financial - Hirose Financial offers a reliable and accessible trading environment, particularly for beginners, with competitive spreads and excellent customer support. Is PipsForex Safe or Scam？ When considering the safety of a brokerage like PipsForex or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage: Regulatory sight: Its been verified that the broker is currently not regulated by any recognized financial authorities, which means that there is no guarantee that it is a safe platform to trade with. User feedback: 2 reports of unable to withdraw on WikiFX should be taken into consideration as potential red flags. It is recommended to conduct thorough research and due diligence before engaging with any broker or investment platform. Security measures: PipsForex prioritizes the security of its traders by implementing negative balance protection, ensuring that clients' account balances cannot go below zero, safeguarding them from potential losses exceeding their initial investments. Ultimately, the decision of whether or not to trade with PipsForex is a personal one. You should weigh the risks and benefits carefully before making a decision. Market Instruments PipsForex offers a wide range of market instruments through Contract for Difference (CFD) trading: Forex: The Forex market allows traders to exchange one currency for another. PipsForex offers a wide range of over 70 currency pairs, including major pairs like EUR/USD and GBP/USD, minor pairs, and exotic pairs. Traders can speculate on currency price movements to profit from fluctuations in exchange rates. Metals: PipsForex provides access to precious metals like gold and silver. These metals are popular for both investment and hedging purposes, offering a way to diversify portfolios and protect against economic uncertainties. Commodities: PipsForex allows traders to trade CFDs on commodities like oil, and agricultural products such as coffee. These commodities are influenced by factors such as supply and demand dynamics, geopolitical events, and economic conditions, providing opportunities for diversified investments. Indices: Indices represent a basket of stocks, providing traders with exposure to broader market movements. PipsForex offers CFDs on major global indices, such as the S&P 500 and FTSE 100, enabling traders to track and speculate on the performance of entire markets or specific sectors. Shares: Traders can invest in shares of publicly traded companies, benefiting from potential capital appreciation and dividend income. PipsForex's offering includes a variety of global shares, allowing clients to build diversified portfolios with ease. Cryptocurrencies: PipsForex embraces the digital age by offering CFDs on popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin. Traders can take advantage of the volatility in the cryptocurrency market without the need for owning physical digital assets. Account Types PipsForex caters to a diverse range of traders with its account offerings. Starting with a user-friendly demo account for practice, traders can transition to real accounts like the Silver Account with a minimum deposit of USD 100, the Gold Account with a minimum deposit of USD 1,000, or the top-tier Diamond Account with a minimum deposit of USD 2,500. Additionally, PipsForex offers Islamic accounts, ensuring compatibility with Sharia law for traders who require it. These versatile account options empower traders to choose the one that best suits their trading style, experience, and financial goals within a secure and accommodating environment. Leverage PipsForex provides traders with the opportunity to use leverage up to 1:500, which can amplify both potential profits and losses. While higher leverage can enhance trading power, it also increases risk significantly. Traders should exercise caution, employ risk management strategies, and fully understand the implications of leveraged trading before using such high leverage levels. It's crucial to ensure that leverage is used wisely and in accordance with one's risk tolerance and trading experience to mitigate the potential for substantial losses. Spreads & Commissions PipsForex offers traders a choice of account types, including the Silver, Gold, and Diamond Accounts, each tailored to meet varying trading preferences. The Silver Account boasts spreads starting from 2.0 pips, making it accessible for traders seeking cost-effective options. The Gold Account further enhances trading conditions with tighter spreads beginning at 1.0 pips. For the most experienced and discerning traders, the Diamond Account offers an exceptional trading environment with spreads as low as 0.0 pips. While commission information is not readily available, interested traders should go to the broker directly to get details to ensure they are aware of the cost structure of their trading and make well-informed decisions. Below is a comparison table about spreads and commissions charged by different brokers: Broker EUR/USD Spread Commissions PipsForex From 0.0 pips Not disclosed AETOS From 1.2 pips No commissions Grand Capital Not disclosed Not disclosed Hirose Financial 0.8 pips No commissions Please keep in mind that spread values can vary depending on market conditions, account type, and other factors. Commission structures may also differ based on the broker's pricing model and the type of account being used. It's important to review the official websites or contact the brokers directly for the most accurate and up-to-date information on spreads and commissions. Trading Platforms PipsForex provides traders with access to the popular MetaTrader 5 (MT5) platform, which is available on multiple operating systems, including windows, iOS, MacOS and Android devices. This extensive compatibility ensures that traders can engage in their preferred trading activities seamlessly, whether they are at their computer or on the go. The MT5 platform is known for its advanced charting tools, technical indicators, and expert advisors, making it a valuable tool for traders seeking a robust and versatile trading experience across different devices and operating systems. Overall, PipsForexs trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below: Broker Trading Platforms PipsForex MT5 AETOS MT4 Grand Capital iTrade, WebTrade Hirose Financial MT4, LION Trader (ActTrader) Trading Tools PipsForex empowers its traders with a comprehensive set of trading tools, including a profit calculator and a margin calculator. These essential tools provide traders with the ability to make informed decisions by calculating potential profits and margin requirements for their trades. The profit calculator allows traders to assess the financial implications of their trading strategies, helping them determine risk and reward. Meanwhile, the margin calculator ensures that traders can manage their leverage effectively, preventing excessive risk-taking. Deposits & Withdrawals PipsForex prioritizes cost-effective trading for its clients by offering free deposit and withdrawal services, ensuring that traders can manage their funds without incurring additional fees or charges through a convenient array of payment methods. Traders can choose from electronic payment systems like Skrill, Neteller, and UPI for swift and secure fund transfers. Additionally, PipsForex accepts payments through major credit and debit cards, including Visa and MasterCard, providing flexibility for traders who prefer card payments. For those who prefer traditional banking methods, wire transfers are also supported. This comprehensive range of payment options enables clients deposit and withdraw funds in a manner that suits their preferences. User Exposure on WikiFX On our website, you can see that 2 reports of unable to withdraw which should be marked as red flag. Traders are encouraged to carefully review the available information. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you. Customer Service PipsForex provides multiple customer service options to assist its clients. Customers can reach out to PipsForex through various channels to address their queries and concerns as below: Phone: 1800-88-91941; +912613501805; +916356099525. Email：support@pipsforex.com. Address: Central Plaza, G- 19, New City Light Rd, Althan, Surat, Gujarat- India 395007; Bonovo Road – Fomboni, Island of Mohéli – Comoros Union; Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, Saint Vincent and the Grenadines, P.O. Box 1510.; 6th floor, Ken Lee Building, 20, Edith Cavell Street, Port Louis, Mauritius, Pin Code : 11304. Moreover, traders can submit inquiries via a convenient enquiry form, or engage with the broker through social media platforms such as Instagram, Facebook, Twitter, Linkedin. Conclusion According to available information, PipsForex is a non-regulated India-based brokerage firm who is registered in Mauritius and operates in other 3 countries. It offers a range of market instruments such as CFDs across Forex, Shares, Indices, Commodities, Cryptocurrencies as market instruments to traders, it is important to consider certain factors such as non-regulated status and 2 reports of unable to withdraw that might raise concerns. It is critical that potential clients exercise caution, conduct thorough research and seek up-to-date information directly from PipsForex before making any investment decisions. Frequently Asked Questions (FAQs) Q 1: Is PipsForex regulated？ A 1: No, it‘s been verified the broker is currently under no valid regulations. Q 2: Does PipsForex offer the industry leading MT4 & MT5？ A 2: Yes, it offers MT5 platform on windows, Android and iOS devices. Q 3: Is PipsForex a good broker for beginners？ A3: No. it’s not a good broker for beginners because its not properly regulated. Q 4: Does PipsForex offer demo accounts？ A 4: Yes. Q 5: What is the minimum deposit for PipsForex？ A 5: The minimum initial deposit is 100 USD. Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.