Pips Forex Limited is a company that claims to operate from Mauritius. But they also say to be incorporated in the Comoros Union. In one case or another, not something that represents a high trust for investors.
Let’s be honest, we all know what offshore countries are used for. In any case, our PipsForex review reveals what these companies are ready to do just to get the money out of your pockets!
Practically, the company is trying to make themselves look legit. Generally speaking, inexperienced traders often fall for these tricks. However, experienced traders are looking only for top-tier licensed brokerages.
In any case, everything is nice and shining as long as you are not withdrawing anything. The first time you want to do it, the problems pop up.
PipsForex Pvt Ltd has been operating since 2020. Mainly in strictly regulated countries. For example:
But also, some victims are coming from:
Regardless of your country, you have the right to request to get your money back! With our specialists’ assistance, you can get detailed guidance through the process. Therefore, don’t wait for anything and book your first free consultation already today.
Surprisingly, the company offers highly popular and trusted MetaTrader 5. Yet, that doesn’t make a company legit. On the positive side, clients can use advanced features like social and copy trading. But also Expert Advisors features. Yet, all of that becomes useless if you can’t withdraw the funds.
In fact, yes. MT5 software allows all iOS and Android users to enjoy trading wherever they are. Of course, these advantages don’t apply to scam brokerages. Primarily because you can’t get any profits out.
According to PipsForex, they are offering instruments from five categories. Practically, that’s irrelevant compared to other irregularities within the company. In any case, you can choose:
The difference in account types is only visible in spreads. Yet, these can be easily manipulated.
Keep in mind that minimum spread starting from 2 pips is just a marketing trick. To be honest, not a good one, knowing that the industry average starts at 1.5 pips. Anyway, the account types are:
Apparently, the company offers a demo account. In general, that’s a standard part of the MT5 software agreement. But if the broker doesn’t have a good reputation we wouldn’t suggest you even try a demo.
The leverage in countries like the US and the UK is limited to a maximum of 1:50 and 1:30, respectively. This brokerage offers 1:500. That tells you everything. On top of that, the company doesn’t reveal any commissions or fees. So, that makes you wonder how they make money. Only with your deposits.
If you would trust the company’s regulations, then yes. Yet, a warning from CBR shows us a different story. Since the company accepts crypto payments you should know these transfers are irreversible. With a reason or not, you shouldn’t risk it. Important to realize is that none of the withdrawal conditions are revealed. Neither fees, methods or processing time.
Obviously, the company’s regulators are not relevant in this case. Otherwise, they wouldn’t let this company do what they did. Therefore, the best option is to leave reviews online. This way you can prevent other traders from getting into the same traps.
Since you are reading this PipsForex Review we strongly suggest you talk to our refund experts. The first meeting is free of charge and the information provided by our specialists is priceless. Therefore, don’t waste a bit of time and book your meeting now!
PipsForex is an offshore brokerage with suspicious regulations but with a warning from a trusted Russian Central Bank.
All signs lead to the conclusion that this company is nothing but a scam. Starting with weak regulations and shady trading conditions.
Considering a warning from CBR, most likely you can’t withdraw anything. If you have any withdrawal issues, contact our chargeback experts immediately for free advice.
The post PipsForex Review – Is The Broker Comparable To The Others? appeared first on Global Fraud Protection.