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PipsForex

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Operating status: SCAM

Website: https://pipsforex.com/

Broker violations and abnormal records
  • 2023-06-19 BrokersView has reviewed that PipsForex is an unregulated broker

    PipsForex claims in its "AML POLICY" that it is operated by the PipsForex Limited, a company registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG  under registration number 25751BC2020. However, our search didn't locate the company on the SVG FSA register. Moreover, the offshore financial watchdog has explicitly stated that it neither issues licenses for forex trading or brokerage nor regulates entities involved in such activities.

    In essence, PipsForex is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

    PipsForex claims in its "AML POLICY" that it is operated by the PipsForex Limited, a company registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG  under registration number 25751BC2020. However, our search didn't locate the company on the SVG FSA register. Moreover, the offshore financial watchdog has explicitly stated that it neither issues licenses for forex trading or brokerage nor regulates entities involved in such activities.In essence, PipsForex is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

Related Complaints

Q&A

Can I use crypto to trade with them?

Claudius
Liberia
2023-06-20
ANSWER PipsForex is an unlicensed broker that we strongly advise against trading with despite the seemingly attractive deals it offers.PipsForex claims in its "AML POLICY" that it is operated by the PipsForex Limited, a company registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) under registration number 25751BC2020. However, our search has been unable to locate the company on the SVG FSA register. Moreover, the offshore financial watchdog has explicitly stated that it neither issues licenses for forex trading or brokerage nor regulates entities involved in such activities. As such, PipsForex is not supervised by any regulatory body.Regarding your question, we suggest you avoid dealing with PipsForex due to its status as an unlicensed broker. It comes with huge risks including financial losses and identity theft, as there are no rules in place to safeguard investors. Therefore, investors are encouraged to stay away from unlicensed brokers like PipsForex and instead choose a fully regulated one.
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