Pips Market is a Forex broker established in 2022 by industry veterans in Mauritius, with its headquarters located in Port Louis. The company also has branches in Saint Vincent and the Grenadines, Comoros, and India. Pips Market primarily offers CFD trading services for forex, commodities, precious metals, indices, and more. The broker's official website is https://pipsmarket.com/, and it supports the English language. Pips Market does not provide services to the United States or jurisdictions under legal restrictions.
Company Background:
Pips Market was registered in Mauritius in 2022 under the legal entity name Pips Market Limited, with its specific office address at 6th floor, Ken Lee Building,20, Edith Cavell Street, Port Louis, Mauritius, and enterprise number 191957. According to Whois records, the broker's official website domain was registered on February 17,2023.
Regulatory Information:
Pips Market claims to be regulated by the Financial Services Commission (FSC) of Mauritius. However, no related information can be found on the FSC's official website. This lack of regulatory oversight may pose higher risks in terms of asset safety, investor protection, and risk mitigation. Investors should exercise caution when considering the services of this broker to safeguard their financial interests.
Trading Products:
Pips Market offers a variety of financial instruments for user trading, including:
Forex: Pips Market provides opportunities to trade various currency pairs in the forex market. Forex CFDs enable investors to speculate on price movements between one currency and another. Examples of available currency pairs include EUR/USD, GBP/USD, and USD/JPY, among others.
Commodities: Commodity CFDs allow investors to potentially profit from price fluctuations in commodities like crude oil, copper, and iron ore, without physically owning the underlying assets.
Indices: Pips Market provides index CFDs representing the performance of specific groups of stocks in certain markets.
Precious Metals: CFDs on precious metals like gold and silver offer trading opportunities based on price changes. Precious metals CFDs allow trading without physically holding the assets, enabling potential profits from price fluctuations.
These products provide opportunities for investors to access different financial markets and manage risk through diversified portfolios.
Account Registration:
Pips Market's official website provides a registration link where users can choose to register either a demo or a live account. The registration process involves opening the Pips Market website, clicking on the "Register" button at the top of the website, and providing required information such as name, email, password, and more to complete the account registration.
Account Types:
Pips Market offers four account types:
- SILVER Account
- GOLD Account
- DIAMOND Account
- Islamic Account
The minimum deposit is $100 USD or an equivalent amount in other currencies. Users can choose different account types based on their trading needs.
Spreads and Leverage:
Pips Market offers spreads starting from 0.0 pips and a maximum leverage of 1:500. High leverage can carry significant potential risks, including fraud risks and emotional stress. Before engaging in high-leverage forex trading, investors should undergo proper education, understand market mechanisms, and carefully consider their investment goals and risk tolerance.
Deposits and Withdrawals:
Pips Market supports deposit and withdrawal methods such as e-wallets and credit/debit cards, including NETELLER, Skrill, VISA, and others. Investors can choose the method that suits their preferences.
Trading Platform:
Pips Market offers the Metatrader 5 (MT5) trading platform to investors. MT5 is widely recognized and popular in the financial industry, known for its advanced trading features and various analytical tools. Through MT5, investors can access real-time market data and use various technical indicators and charting features to analyze market trends.
Customer Support:
Investors can contact Pips Market's customer support through phone, email, and social media channels like Facebook, Twitter, and LinkedIn. However, the broker does not specify its customer service hours, which may affect the timeliness of customer inquiries and user experience.
Summary:
Pips Market offers users opportunities to trade a range of financial products, along with the popular MT5 platform. However, the broker's high leverage ratios may carry potential risks, and it operates without regulatory oversight. Trading with Pips Market may involve concerns related to asset safety, investor protection, and risk mitigation. As of now, the broker has been marked as "suspected fraud" on TraderKnows, and users should exercise caution when considering their services to protect their financial interests and avoid potential scams.
