PipTrade Review

PipTrade
15% deposit bonus
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Overview

PipTrade is a forex brokerage firm based in England and regulated by the Financial Services Authority (FSA) and is managed by the Henyep Group. The Henyep group also manages HY… more

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Details

Broker PipTrade
Website URL www.piptrade.com
Founded 2009
Headquarters PIPTRADE by HENYEP CAPITAL MARKETS (UK) Ltd 28 Throgmorton Street London EC2N 2AN United Kingdom
Support Number + 44 207 193 8328 Tel: + 44 207 330 9019 (Dealing room) Fax: + 44 207 681 2350
Support Types phone, fax, live chat, email: [email protected]
Languages English, Chinese, Arabic
Trading Platform PIPTRADE Webtrader, PIPTRADE MT4 Download, PIPTRADE MT4 Webtrader, PIPTRADE MT4 Mobile
Minimum 1st Deposit $50
Minimum Account Size $50
Minimum Trade Amount 0.02 lots
Bonus 15% deposit bonus
Payout within 3 business days
Leverage up to 300:1
Spread 1.8 pips
Free Demo Account Open Demo
Regulated Yes
Regulation Regulated by: FCA Financial Conduct Authority (UK) under Company reference number 186171
Commissions Yes
Commission Info No hidden fees or commissions
Account Types Mini Account, Standard Account, Premium Account
Deposit Methods credit cards, wire transfer, Paypal, Skrill/Moneybookers, WebMoney
Withdrawal Methods credit cards, wire transfer, Paypal, Skrill/Moneybookers, WebMoney
Trading Methods hedging, scalping, one-click order execution, guaranteed stop limit orders, stop/loss orders
Number of Assets 1000+
Types of Assets PipTrade offers forex, commodities, stocks, CFDs, ETFs and indices
Trading Currency All major currency pairs, most minor currency pairs and exotic ones like USD/ZAR and USD/RUB
Account Currency You can fund your PipTrade account with any major currency
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score 7

Full Review

PipTrade is a forex brokerage firm based in England and regulated by the Financial Services Authority (FSA) and is managed by the Henyep Group. The Henyep group also manages HY Markets and HY Options. PipTrade doesn’t really focus on institutional trading groups and corporations but rather on individual traders. On PipTrade it’s possible to trade forex, gold, silver, gold, oil, precious metals, indices and stocks. At the moment the PipTrade trading platform, website and customer support is available in English, Arabic and Chinese.

PipTrade trading platforms

PipTrade offers two types of trading platforms being their own web based trading platform and the world famous MetaTrader 4 trading platform. If you don’t know which one to use they have a comparison on their website between the both of them. PipTrade has recently developed the PipTrade MT4 Mobile trading platform which can be downloaded on your smartphone or tablet in app form so you can trade anywhere, anytime.

PipTrade account types

PipTrade account types

PipTrade has several account types available with the Mini Account being the smallest with only a initial deposit required of $50. Personally, I think $50 is very low and this amount is great for people new to stock market trading who don’t want to get their feet wet with their live savings. The spread charged on the Mini Account is rather high, though, 1.8 pips per trade. The VIP Account is a better choice for the experienced trader as spreads charged on VIP Accounts are just 0.5 pip per trade. The maximum leverage on all trading account types is 300:1 which can be considered medium-high.

PipTrade mini account

PipTrade customer service

The customer service of PipTrade is 24/5 available in English, Arabic and Chinese by phone, fax, live chat and email. When I needed the live chat to have answers on some questions I had, I was helped fairly quick, within about 2 minutes. I haven’t tested out their average response time on questions sent by email but hopefully I will receive that information in comments and user experience reviews underneath this review.

PipTrade reliability

PipTrade is as mentioned above, managed by the Henyep group which manages several companies in finance, education and property. The Henyep group has over 40 years experience in stock market trading management and also operates two other brokerage firms. The Henyep group is also regulated and licensed by four different regulatory organizations so in my opinion PipTrade can be considered safe and reliable. I couldn’t find any scam history so far so any claims made you might find on the internet stating PipTrade might be a scam broker are absolutely false and most probably posted by traders who lost a part of or their entire investment amount by just trading the financial markets the wrong way.

PipTrade deposit bonus

At the moment every new trader at PipTrade receives a bonus of 15% upon their initial deposit.

PipTrade deposit bonus

PipTrade review conclusion

PipTrade can be considered a great and reliable broker for new traders or people new to financial market trading in general. Their low initial deposit of just $50 and the appointment of a personal account manager both confirm this fact. I like the fact that they give traders the choice to either use the MetaTrader 4 trading platform or their own in-house developed webtrader. The webtrader might be more suitable for new traders but eventually they should have to learn to use the MetaTrader as it’s the most popular forex and stock trading platform worldwide. The leverage is medium-high at 300:1 and the spread charged is rather high on lower account types. Because of these two reasons I rate PipTrade a 7/10 instead of a higher markt as it would be more beginner-friendly if they charged lower entry-level accounts a slightly lower spread.

✓ Regulated and reliable broker

✓ Comprehensive Educational Package for new traders

✓ Low initial deposit of just $50 required

✓ Many assets available like forex, stocks, commodities, indices and ETFs

✓ Low spreads of 1.8 pips and maximum leverage 300:1

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Screenshots

Screenshot 1 Screenshot 2

Pros

  • Regulated and reliable broker
  • Comprehensive Educational Package for new traders
  • Low initial deposit of just $50 required
  • Many assets available like forex, stocks, commodities, indices and ETFs
  • Low spreads of 1.8 pips and maximum leverage 300:1

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Decleration:
I hereby declare this review to based on my own experience trading with this broker and I did not reseve compensation in any way submitting this review

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