Categories
Uncategorized

PipsFX Review

PipsFX Review by professional Forex trading experts the “” FX trading team, Finding out everything you need to know about the broker is in this Pips FX Review.

PipsFX Review

Pips-fx offers forex trading through three account types, with fixed spreads. The company behind this broker also presents its services via another trademark, which we have already covered.

The Company. Security of Funds

Company Country Regulation
Keyds Lydya Ltd Marshal Islands N/A

Pips-fx is owned and operated by KEYDS SCOTLAND LP, a subsidiary of Keyds Lydya Ltd. which is registered in Marshall Islands. The company is not financially regulated. That being said it also operates the Nostrobank.com brand, which offers exactly the same trading conditions. It is worth mentioning there are several complaints against Nostrobank in popular online forums.

Financial regulation is something which we advise our readers to look for in a broker. Your funds will generally be safe (against farud, of course, your trading is up to you) if they are deposited with a broker who is regulated by a reputable agency.

One of the most respected financial regulators is the UK’s Financial Conduct Authority (FCA). Any broker, operating under its supervision has to keep clients money in the so called segregated accounts. This means the company can not freely access your trading capital and spend it on marketing campaigns or paying salaries. Furthermore your funds will be protected (up to GBP50,000) by the Financial Services Compensation Scheme (FSCS), in case your broker happens to go bankrupt.

Trading Conditions

Minimum Initial Deposit

Pips-fx has а minimum initial deposit requirement of $500. This level is high by contemporary standards. Take XM, for example – they require only $5. That being said, this shouldn’t be among your main concerns when choosing a forex broker. As you probably know, a long-term trading plan, requires much more capital and stringent risk management.

Average spreads & Commissions

Pips-fx offers fixed spreads, starting at 3 pips for EUR/USD (for the mini account). Other fixed-spread brokers, like easyMarkets offer better fixed spreads.

Leverage

The maximum leverage offered by Pips-fx is 1:200. This is pretty standard nowadays, although it is still more leverage than you will ever need (if you are trading a sensible strategy and not gambling, of course).

Leverage amplifies both your winning and your loosing trades. Trading with high leverage and no proper understanding of how it works can lead to serious losses, sometimes even exceeding your initial investment.

Trading Platforms

Pips-fx provides MetaTrader 4 (MT4) and their own web-based platform to its clients. When it comes to MT4, enough has been said already. Some traders like the charting package, availability of custom indicators and automated systems (or Expert Advisors as they are called). Other seasoned day traders dislike the lack of multiple-monitor support.

As for the in-house web-based platform, we weren’t able to log in during our review process.

Methods of Payment

Pips-fx offers only Bank Transfer and Credit Card for deposits. Funds can be withdrawn only via Bank Transfer. This may be only a temporary issue. Remember, bank transfers and especially international ones may take several business days.

The Broker is not a safe forex broker, Instead you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.

PipsFX Review Conclusion

For more information about currency trading brokers visit forex brokers comparison website, Tip foreign exchange trading experts please by share this article about PipsFX Review.