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PIPTRADE is a Forex broker that functions under the Henyep Capital Markets Ltd (HYCM) license, which is a huge financial company operating in several parts of the world through different subsidiaries and white label platforms. The Henyep Group runs various FX brokerages under several brand names, and PIPTRADE is one of the established trademarks of HYCM that offers Forex products under the FCA’s regulatory framework.
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- Website: www.piptrade.com
- Support: + 44 – 207 – 193 – 8328
- 28 Throgmorton Street
- EC2N 2AN
PIPTRADE has its primary base of operation in the UK, which brings it directly under the Financial Conduct Authority (FCA) and the European MiFID derivatives. PIPTRADE is allowed to offer its Forex trading products and services to all countries in the European continent under the EEA agreement, which binds together all EU members for facilitating Free Trade. HYCM has other branches in Europe, Asia, and the Middle East that are operated as wholly owned subsidiaries, which are also regulated by the regions’ particular regulatory authorities. Moreover, FCA regulation gives the broker the much-needed sense of responsibility and authenticity that is expected by retail traders from all over the world. FCA brokers should possess at least €750,000 as the minimum operating capital, which will be increased according to an increase in funds and the orders transacted by the broker according to the magnitude of their client deposits. FCA also protects traders through the Financial Services Compensation Scheme (FSCS), which provides indemnity against broker insolvency or liquidation. Most established regulatory agencies subject their regulated members to routine audits and seek complete transparency in their financial operations. The FCA also requires its regulated FX brokers to submit periodic financial reports and organize detailed audits to ensure that there are no financial discrepancies in the way the broker conducts itself in the market.
Types Of PIPTRADE Trading Accounts & Financial Markets
PIPTRADE doesn’t advertise itself as an FX broker that aims at a particular group of traders, which makes it highly suitable for traders from different backgrounds. Nevertheless, the broker only provides a market maker trading platform, which involves automated dealing desk and orders that are filled at broker level. Unfortunately, PIPTRADE does not provide an ECN account, even for higher deposits, which is a huge disadvantage for established and professional traders. As for the different financial markets and assets offered by the broker, traders can choose between Forex, commodities, metals, energy futures, stocks, and indices trading through their PIPTRADE accounts. PIPTRADE offers a Mini account for smaller retail traders that can be opened for a small initial deposit of $50. The Mini account allows you to trade in Mini lots (in lot increments of 0.01), which not only provides better options for smaller traders but can also help in reducing the risks in the market. The maximum leverage offered for a Mini account is 1:300, with spreads starting from 1.8 pips. The Mini account only provides access to Forex and Metals as tradable assets, and if a trader wants to access more instruments, they have to choose the higher accounts. The second type of account is the Standard account, which requires at least $750 as the minimum deposit. The Standard account has all essential features of a Mini account, with the only visible difference being the lots available for trading and the exclusive access to more financial products. The maximum PIPTRADE leverage for the Standard account stays at 1:300, and the spreads are also charged from 1.8 pips for the major currency pairs. The third type of account is called the Premium account, which is precisely targeted at larger traders that have a bit more trading capital to invest in the markets. For a minimum investment of $2500, the company promises VIP trading conditions; tighter PIPTRADE spreads, dedicated customer service, and overall better trading conditions. According to our experience, we expected the Premium account to be an ECN account, but disappointingly, the broker does not offer ECN access across their product portfolio.PIPTRADE offers a host of technical and fundamental analysis to help beginner traders to learn more about the markets before investing their money. Most of the new-age brokers are constantly trying to reinvent the marketplace by offering expert assistance to their clients, but PIPTRADE has made it simple by providing useful information in an easy-to-understand manner. Once you open an account, you can access the markets through two different PIPTRADE platforms. The first platform is the standard MT4 terminal, which provides market access according to the tried and tested market maker protocol. On the other hand, PIPTRADE also provides a proprietary web terminal, which can be used to access the markets through any modern browser. The PIPTRADE WebTrader can be accessed on any device and is suitable for trading on desktops, as well as mobile devices. Both PIPTRADE trading platforms are easy to use, and existing MT4 users will find it easy to make the transition to the PIPTRADE MT4 interface. For mobile trading, traders can download the PIPTRADE apps designed for the MT4 terminal for both the iOS and the Android mobile operating systems.
How Do I Make A Deposit Or A Withdrawal, And Are My Funds Safe?
PIPTRADE offers multiple payment options for both deposits and withdrawals. Traders can use credit cards, bank wire transfers, WebMoney, and Skrill for making payments to the broker. The broker may take some extra time to process withdrawals; however, deposits are made instantly. All funds are kept in segregated accounts as required by the FCA and protected under the FSCS. Therefore, you can be assured of the safety of your funds as long as the broker holds a valid FCA license. PIPTRADE’s market strength is further fortified by the excellent financial stability of the HYCM group, and the customer service department is also dedicated to offering an excellent trading environment for its clients. Nevertheless, if you are looking for ECN trading accounts and an even better regulatory protection, browse through other leading Forex brokers from our recommended list of top-quality FX companies in the retail trading market. We guarantee that you should be able to find a reliable broker that satisfies all of your trading requirements.