Note: The information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.
What's Pipspool？
WealthFX is a unauthorized regulated trading platform that offers a range of resources and tools for traders, offering market instruments such as Forex, Cryptocurrency, Metals, Bonds, Indices, Commodities. It also provides three types of With the MetaTrader 5 (MT5) trading platform available on mobile, desktop, and webtrader devices, traders can access a variety of features to support their trading activities.
In the following article, we will analyse the characteristics of thisbroker in all its dimensions, providing you with easy and well-onganised information. If you are interested, read on.
Pros & Cons
Pros
Demo Account Available: Pipspool offers demo accounts, allowing users to practice trading without risking real money. This can be beneficial for beginners or those who want to test this trading platform.
Multiple Market Instruments: Pipspool provides a wide range of instruments, such as Forex, Cryptocurrency, Metals, Bonds, Indices, Commodities.
Multiple Customer Support Channels: Pipspool provides several channels for customer support including telephone, email, and social media. This could make it easier for clients to reach out with their queries or concerns.
Multiple Account Types: Pipspool provides traders with three types of account: basic, professional and business. Each type of account typically caters to different trading needs and preferences of investors.
Cons
Unauthorized Regulation: Pipspool's license is currently unauthorized which can result in significant risks.
Strict Regional Restrictions: Pipspool does not provide services to residents of the USA, Puerto Rico, Quebec(Canada), United Kingdom, Sri Lanka, New Zealand, Japan, India, Afghanistan and to residents of OFAC sanctioned countries, and any other country or region where such services are contrary to local laws and regulations.
Is Pipspool Legit？
User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.
Security Measures: So far we haven't found any information about the security measures for this broker.
Market Instruments
Pipspool provides a diverse range of market instruments for traders, including Forex, Cryptocurrency, Metals, Bonds, Indices, and Commodities. This wide selection allows traders to access various financial markets and diversify their trading portfolios.
In the Forex market, traders can engage in currency pair trading, taking advantage of the volatility and liquidity of the foreign exchange market.
Cryptocurrency trading offers opportunities to trade digital assets such as Bitcoin and Ethereum, tapping into the growing popularity of cryptocurrencies.
Metals trading enables investors to trade precious metals like gold and silver, providing a hedge against inflation and market uncertainties.
Bonds offer fixed-income securities for traders seeking stable returns and portfolio diversification.
Indices represent baskets of stocks that track specific markets, allowing traders to speculate on broader market trends.
Lastly, Commodities trading covers a range of raw materials such as oil, gas, and agricultural products, offering exposure to the global commodity markets.
Account Types
Pipspool offer demo account for trader who want to test this trading platform. In addition to demo account, Pipspool also provides users with the flexibility to choose from three distinct account types tailored to meet varying trading needs: basic, professional, and business accounts, each claims to provide traders with mobile optimized, free custom domain, best hosting, outstanding support services.
Demo accounts allow users to practice trading financial instruments without risking real money, enabling users to familiarize themselves with the brokers trading interface, tools, and features.
The basic account, with a fee of $39 per month, is for novice traders looking to explore the platform and gain experience in the financial markets. It offers essential features and tools to support learning and trading at a beginner level.
The professional account, with a fee of $69 per month, caters to more experienced traders who require advanced trading tools, in-depth market analysis, and additional features to enhance their trading strategies. This account type is designed for active traders seeking a more comprehensive trading experience.
The business account, with a fee of $99 per month, is tailored for institutional clients, businesses, and professional traders who require specialized services, customized solutions, and dedicated support to meet their specific trading requirements.
How to Open an Account？
Go to Pipspool's official website and click on “Try Free Demo”. Fill in your personal information such as your name, email and phone number. After verifying, your demo account is set.
You can open a real account by clicking on “Open an Account” , select an account type, then fill in your basic information such as your name, email address and phone number. After filling out all your information, you should submit your application. Once your account is verified, you can start utilizing the services offered by Pipspool.
Spreads
Pipspool's claim to offer traders a spread from 0 pips underscores its commitment to providing competitive pricing and favorable trading conditions. A spread of 0 pips can be highly appealing to traders, as it means that there is no difference between the buying and selling prices for a particular financial instrument, resulting in lower trading costs.
This tight spread can be advantageous for traders looking to capitalize on small price movements in the market and execute trades with minimal transaction costs. Narrow spreads are advantageous for traders as they represent the difference between the buying (ask) and selling (bid) prices of a trading instrument, and lower spreads can result in reduced trading costs.
Trading Platform
As for the trading platform, Pipspool provides its clients with many options. There are public platforms such as tradingview, MT5 and MT4 that have served many clients worldwide,lf you didn't want to spend time familiarizing yourself with a new platform, you could choose public platforms. The choice is yours.
Pipspool offers the MetaTrader 5 (MT5) trading platform, which is available on mobile, desktop, and webtrader versions. This platform provides users with a versatile tool to access the financial markets across different devices.
The mobile application allows traders to stay connected and trade on the move, while the desktop version offers advanced charting tools and analytical capabilities. Additionally, the webtrader version enables traders to access their accounts and execute trades directly through a web browser.
Trading Tools
Pipspool offers traders a variety of trading tools, including professional technical analysis, fundamental analysis, trading signals, and Copy Trading. These tools are designed to assist traders in making informed decisions and enhancing their trading strategies.
Technical and fundamental analysis provide valuable insights into market trends and conditions. While professional technical allows opening up to 100 charts of currency and stock quotes at a time, the aim of fundamental analysis is the constant monitoring of various open-source economic and industrial indicators.
Additionally, trading signals offer guidance on trading opportunities and the copy trading feature allows traders to replicate the strategies of others, providing an opportunity to learn from more experienced traders.
Education Resources
Pipspool provides valuable educational resources to support traders in their journey towards financial success. Through webinars and expert tips, traders can access a wealth of knowledge and insights to enhance their trading skills and strategies.
The webinars offer interactive sessions where traders can learn from industry experts, gain market insights, and stay updated on the latest trends and developments.
Additionally, expert tips provide valuable guidance and recommendations on trading techniques, risk management, and market analysis.
Fees
Pipspool implements a fee structure for its various account types, with monthly charges set at $39 for a basic account, $69 for a professional account, and $99 for a business account. These fees are designed to reflect the differing levels of service and features offered to account holders.
Customer Support
Pipspool offers comprehensive customer support to its clients. This includes being available 24 hours a day, 7 days a week. Clients can reach out to Pipspool through various channels.
Telephone: Clients can call their number +27 (0) 31 830 5536 for any queries.
Email: The firm offers assistance through email atinfo@pipspool.com and register@pipspool.com.
Live chat
Contact form
Social Media: Pipspool also maintains a strong presence on Facebook, Instagram, LinkedIn and Twitter, providing clients with a more informal method of communication or for staying updated with the firm's latest news.
Company address: Operation Address: Pipspool LLC.2, Ncondo Place, Ringside, Umhlanga Ridge, Durban, 4320, South Africa; Registered Address: Hamchaku, Mutsamudu, The Autonomous island of Anjouan, Union of Comoros.
Conclusion
In summary, Pipspool offers a range of trading instruments, including Forex, Cryptocurrency, Metals, Bonds, Indices, Commodities, along with the popular MT5 trading platform accessible on various devices. The platform claims to provide spreads from 0 pips to improve capital utilization. Moreover, it offers webinars and expert tips as education resources to guide traders . While these features may appeal to some traders, it is essential to exercise caution when trading with unregulated brokers and to carefully consider the risks involved in trading.
Frequently Asked Questions (FAQs)
Question: Is Pipspool regulated？
Answer: No. Its NFA license is unauthorized.
Question: Does Pipspool offer demo accounts？
Answer: Yes.
Question: At Pipspool, are there any regional restrictions for traders？
Answer: Yes. Pipspool does not provide services to residents of the USA, Puerto Rico, Quebec(Canada), United Kingdom, Sri Lanka, New Zealand, Japan, India, Afghanistan and to residents of OFAC sanctioned countries, and any other country or region where such services are contrary to local laws and regulations.
Question: Does Pipspool offer the industry leading MT4 & MT5
Answer:Yes. It offers MT5 desktop, MT5 Mobile and MT5 Webtrader.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
