ProfitPipsMarkets Review: ProfitPipsMarket Forex broker is another case of an unlicensed broker giving a slew of big promises and boasts. We also discovered it shares an eerie resemblance with FXOpen.co.uk. As usual, our review takes an in-depth look at the features the broker (profitpipsmarket.trade) allegedly offers. The review covers aspects of its licensing, its account types, its leverages, its withdrawal, and deposit methods. Read through our Profit Pips Market review to see what we and other experts have to say about Profit Pips Markets.
Table of Contents
ProfitPipsMarket Trading Platform
At first glance, the broker claims that it supports the MT4 trading platform. After proceeding to the software link, we found that claim to be a lie.
Do You Know You Could Get Back Your Money If You Have Been Scammed? Great News! Click HERE to Get Started
They provide a leverage capped at 1:200
ProfitPipsMarket Account Types
In this portion of the review, we aim to explore the account types a broker might have. We check the account with its corresponding deposit and leverage. Doing this gives a clearer idea how a broker might work.
After checking, we discovered that this broker has
ProfitPipsMarket Deposit and Withdrawal Methods
Deposit and withdrawals are the two most important transactions for us because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.
Wire transfers, bank cards, Trustly, Skrill, Neteller and WebMoney,.
Another thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume to be eligible for withdrawal. They do this to stop traders from making a withdrawal.
Is ProfitPipsMarket Licensed?
Licensing is another important part because we can trust a regulated broker to some extent not to do anything fraudulent. We do this part of the review by first checking the name of the company attached to the broker. Then we run that name through various regulatory bodies to discover if it regulates said brokerage.
In checking the license status of this broker, we had to check several regulatory bodies. We checked the FCA in the UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy, and many others. At the end of our search, we didn’t find any licensing information concerning this broker.
To Know if a body licensed a broker. Traders should check regulatory bodies such as the FCA in the UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy, and many others.
To get a better understanding of how brokers(both licensed and unlicensed) work, read our review on Fxcryptomine, FTG Markets, Capital GMA, Kiexo.
Trade with TOP RATED BROKERS Instead
Accounts
Free Trial
Projects
SSL
S
Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
TOP CHOICE BY TRADERS
Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:300
BEGINNER FRIENDLY
Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion
In fact-checking this broker, we found that many of its claims were false or unverifiable. We can’t confirm their location, and also, there is a lack of transparency in depositing funds and even a foggier and non-explained process of withdrawing. We don’t advise you to invest with this broker, any attempts to do so we lead to loss of your funds.
Avantex market Capitals trade are real scammers. I’m Mrs. Evelyn Chole, I promise to leave a review about my scam encounter. And how I got back my money from the scammers. I could never have imagined falling for the persuasion of such scammers, but it happened. I transferred almost $10,000 to their fake trading account in my name, with no access to withdraw my money out, to my greatest surprise, I got in contact an expert hacker, [email protected] to help me retrieve my money back from the scammer which was successfully refunded back to me, I’m thankful to the recovery expert and the organization for helping me recover my money back successfully. I guess someone might find this information useful.