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An offshore and unregulated trading platform, Pips Pro FX offers maximum leverage of 1:1000. The platform uses the cTrader platform, and copy trading is also available. Unfortunately, judging by the performance of a few members, there’s a lot to lose with the platform. The high leverage means you’re likely to lose large amounts. We are here to clear the issue and inform users of the features and risks of pipsprofx.com. Get the truth in our detailed PIPS PRO FX Review.
According to the homepage, Pips Pro FX was founded by a group of financial experts. The group ranges from auditors, compliance managers, and forex dealers. Funny enough, they fail to mention the real names of these founding members.
We also don’t see the timeline of when the platform came into existence. Instead, what we see is a platform trying to buy its way inside the forex investment industry. What’s worse is the high leverage which is a huge risk, especially for newbie investors.
Judging the platform’s aesthetics, we can see why most investors sign up. These investors are attracted by the features and services PipsProFX claims to offer. But, unfortunately, none of them does due diligence, and a heavy price is paid for it.
The best and surest way of investing safely is by joining reliable investment platforms. These platforms offer realistic ventures that experts and industry professionals prove. Some of these options include coin staking, DeFi, and Masternoding.
Pips Pro FX only offers investors a high-risk venture. To add salt to injury, the platform does not offer any insurance cover to deposits. Being an offshore platform with no regulatory compliance is a no-go zone for us.
We are here to reveal the red flags on the platform. Most investors blindly sign up without thinking twice. And this is the reason why most are ending up losing their funds in quick succession.
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Pips Pro FX offers six accounts which are divided into corporate and individual accounts. For the corporate accounts, members have to contact the firm for deposit requirements. We believe the minimum allowed deposit for these is $50,000.
Corporate account types are Managed, and PAMM accounts. A managed account is a mini individual account. You have to contact the account manager for both corporate account types. Let’s take a closer look at the individual account types.
Mini
It’s the most basic account, and investors have to deposit $100 to start trading with the platform. You also get a dedicated account manager and variable spreads.
Micro
There’s a minimum deposit amount of $2,500 with variable also spreads available. Unfortunately, the account doesn’t list the minimum leverage or swap features.
Pro
For the pro account, members must deposit a whopping $20,000 to start trading. In addition, the account gives users the ability to trade mini lots.
Islamic
You have to deposit $3,000 to trade with the Islamic account. The account comes with a dedicated account manager and variable spreads.
These accounts lack valuable information on features such as minimum leverage and commissions. As a result, investors are going in blind without knowing whether the terms are conducive for trading.
With all talk about availing account managers, one thing is clear, and the platform hides their identities. As an investor, you should know the qualifications and skill level of account managers. These are the people handling your funds.
We believe the platform is hiring call agents to act as account managers. With members complaining of getting calls at odd hours from managers, we know why. We have seen this tactic before in almost every offshore-based platform.
These call agents will call you with a claim that they have found a lucrative prospect. Unfortunately, it’s not in the realms of trading, and they promise to double your returns. All you have to do is deposit funds with them and wait for the profits to soar.
Those who make the mistake of falling for this end up losing the entire deposit. The call agent will take them around, giving them excuses as to why the prospect failed. And this is the reason why we doubt the platform’s credibility.
Before thinking of offering your affiliate service to the platform, you need to evaluate the risks. The platform offers IB programs and white label solutions. IB program offers market rebates to users, and white label solutions earn commissions.
The problem with their white label solutions is that you end up facing the blame from investors. Those who you refer to the platform will lose funds once they deposit. These members will point the finger at you.
Affiliate partners will end up losing their reputation and even close friendships if you want to earn passive income, affiliate with proven platforms. We are still yet to see anyone with proof of earning with their affiliate program.
The disclaimer at the footer of the homepage claims Market Viewer Limited as the owner. The FSA registers the platform. It clearly shows the platform is registered in St. Vincent and the Grenadines.
There’s no information on who runs the show. Names of the CEO or CFO are not found anywhere on the web. We suspect this is a shell company used as a proxy by the offshore broker. It also means we are dealing with an anonymous platform.
Anonymous and offshore investment platforms offer users no clean way of investing. You should ensure you stay away from the platform or end up losing everything. There’s no way of recovering funds from unknown persons using a shell company.
On the contact page, we see another red flag. The platform only offers one-way communication channels. There’s no direct way of contacting the platform, and you can only use email. And this shows their intent to keep themselves anonymous.
Imagine a platform without information on how to deposit or methods of depositing. The only way to find out is by opening an account with them. What if the depository option incurs heavy fees when making the transfer?
Withdrawing funds from the platform is also out of the question. There’s no way an offshore platform allows withdrawals. Those who deposit large amounts can only withdraw small amounts not more than $1,000.
Pips Pro FX does not hold any valid license from a credible forex regulator. Despite efforts to sell themselves as licensed, there’s no proof of it. The platform fails to post documents from relevant authorities showing their compliance.
And this is the reason why we don’t recommend anyone to use the platform. Lack of oversight gives them leeway to offer unlawful trading options. In addition, no regulator will allow maximum leverage of 1:100.
The safety of funds is another reason why you should back away from the platform. Unfortunately, Pipsprofx.com does not offer insurance cover for deposits made. So investors are on their own when it comes to the safety of funds.
Whoever signs up with the platform is bound to lose their funds. Here are the reasons why we doubt the sanity of the platform;
These are the reasons why we see the platform as a high-risk venture.
It would be best if you instead used credible and tested ways of investing. These include having trustworthy investment partners proven by the forex industry.
If you have any questions, feel free to leave a comment or email us.
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