PIPWISE
Pros and Cons
Pros
- Regulated by MISA with Comoros license
- Offers 8 types of trading instruments including Forex and cryptocurrencies
- Supports advanced trading platform MT5
- Leverage up to 1:1000 and competitive spreads
- Minimum deposit as low as $50 with various payment methods
Cons
- Offshore regulation in Comoros
- High minimum deposit of $500 for certain accounts
- Limited educational resources and market analysis
- Withdrawal issues reported by users
- High spreads on some trading instruments
Basic Information
User Reviews
PIPWISE Overview
PIPWISE is a forex broker founded in 2022 and registered in Georgia, with regulatory oversight provided by the Comoros MISA under license number BFX2024116. The broker has quickly established itself in the competitive trading landscape, offering a reliable platform for traders seeking diverse financial instruments. With its headquarters located in Tbilisi, Georgia, PIPWISE aims to provide a trustworthy trading environment backed by regulatory standards. The broker emphasizes transparency and compliance, making it a viable option for traders who prioritize regulatory security in their trading endeavors.
PIPWISE offers a comprehensive range of trading instruments, including forex, commodities, indices, and cryptocurrencies, catering to a wide array of trading preferences. The platform supports the advanced MetaTrader 5 (MT5) trading software, known for its robust analytical tools and user-friendly interface. Traders benefit from competitive leverage of up to 1:1000 and low minimum deposits starting at $50. Customer support is readily available through multiple channels, including live chat and email, ensuring traders receive timely assistance. PIPWISE stands out in the market with its commitment to fast execution and a responsive support team, making it an appealing choice for both novice and experienced traders looking to enhance their trading experience.
Is PIPWISE Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| MISA | Comoros | Offshore regulation; limited fund protection |
Is PIPWISE Regulated and How Are Client Funds Protected?
PIPWISE operates under the regulation of the MISA with a retail forex license from Comoros. While this offers a level of oversight, it is important to note that offshore regulation typically provides limited investor protection compared to more established jurisdictions. Client funds may be held in segregated accounts; however, the overall safety of funds could be compromised due to the nature of offshore regulatory frameworks. Therefore, while PIPWISE is technically regulated, traders should approach with caution and consider the implications of trading with an offshore broker.
Trading Products and Services
What trading instruments does PIPWISE offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY, Major & Minor Pairs | Many |
| Commodities | Gold, Silver, Crude Oil, Natural Gas | Varies |
| Indices | S&P 500, NASDAQ, FTSE 100, DAX | Many |
| Stocks | Apple, Tesla, BP, Vodafone | Varies |
| Cryptocurrencies | BTC, ETH, XRP, LTC | Many |
PIPWISE offers a diverse range of trading instruments, which are essential for traders looking to diversify their portfolios. With categories including Forex, Commodities, Indices, Stocks, and Cryptocurrencies, PIPWISE caters to both beginners and professional traders. The inclusion of various asset types not only allows users to develop flexible trading strategies but also provides opportunities for long-term investment growth. This comprehensive selection helps traders adapt their approaches based on market conditions, ensuring that they can effectively manage risk and seize potential market opportunities.
Account Types and Trading Conditions
What Account Types and Fees Does PIPWISE Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners and casual traders | Low minimum deposit, user-friendly interface | Ideal for small-capital practice |
| Professional Account | Experienced traders and professionals | Higher leverage, advanced trading tools | Requires trading volume qualifications |
| Corporate Account | Corporate clients and institutions | Customized services, dedicated account manager | Requires corporate documentation |
| Islamic Account | Traders seeking swap-free options | Complies with Sharia law, no overnight interest | Available for all account types upon request |
| Demo Account | New traders and those testing strategies | Practice trading with virtual funds | Unlimited access for practice purposes |
Account Opening Process
To open an account with PIPWISE, follow these steps: First, submit personal information, including your name, email, and phone number. Next, provide employment details and financial information to assess your trading experience and risk profile. After this, you will need to complete identity verification by submitting a government-issued ID and proof of address. PIPWISE offers account flexibility, allowing users to upgrade to a professional account later if their trading volume meets the necessary requirements.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0 (ECN: $3.5/lot) | Tight spreads for major pairs |
| Forex (GBP/USD) | 1.0 | $0 (ECN: $3.5/lot) | Competitive for minor pairs |
| CFDs (Stocks) | 1.5 | $5 per lot | Variable spreads based on liquidity |
| CFDs (Indices) | 1.2 | $5 per lot | Includes major global indices |
| CFDs (Commodities) | 2.0 | $5 per lot | Includes oil and gold |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable depending on market conditions |
Other Fees
Additional costs may include deposit and withdrawal fees depending on the method chosen, inactivity fees after a specified period of account dormancy, and any applicable platform usage fees. Overnight interest (swap rates) will apply for positions held overnight, and currency conversion fees may incur when trading in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does PIPWISE Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT5 | Windows, macOS, iOS, Android | 2FA, encryption, market search, multiple order types, price alerts, technical indicators | Demo accounts, VPS |
| Web Version | Any device with a web browser | Secure login, market search, one-click trading, push notifications | API interface |
| Mobile App | iOS, Android | Biometric login, real-time alerts, market search | Demo accounts |
PIPWISE offers a range of trading platforms catering to various trader needs. The MT5 platform is ideal for advanced traders, providing comprehensive tools and analytics. The web version allows users to trade from any browser, ensuring flexibility, while the mobile app facilitates trading on the go with essential features for quick access. PIPWISE prioritizes secure logins across all platforms, enabling fast order execution and real-time notifications for market movements. Efficient search tools enhance user experience, making it easier to find and manage trades.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| SEPA | 1-2 business days | No platform fee | Min 100, Max 15k/day | EUR |
| GrabPay | Instant | 1.2% charge | Min 50, Max 10k/day | SGD |
| SPEI | Instant | No fees | Min 500, Max 20k/day | MXN |
| Wire Transfer | 3-5 business days | $20 fee | Min 200, Max 50k/day | USD, EUR |
| Cryptocurrency | Instant | No platform fee | Min 100, Max 5k/day | BTC, ETH |
Minimum Deposit
PIPWISE requires a minimum deposit of $100 to open a trading account. This amount is consistent across various payment methods. However, for users opting for cryptocurrency deposits, the minimum is set at $100 equivalent in the chosen currency.
How to Withdraw
To withdraw funds from your PIPWISE account, follow these steps:
- Log in to your PIPWISE account.
- Navigate to the ‘Withdrawal’ section in your account dashboard.
- Select your preferred withdrawal method from the options available.
- Enter the amount you wish to withdraw, ensuring it meets the minimum and maximum limits.
- Confirm your withdrawal request and submit.
- Monitor the status of your withdrawal in the ‘Transaction History’ section.
Customer Support
PIPWISE Customer Support Overview
Support Channels
PIPWISE offers a variety of contact methods to ensure that customers receive prompt and effective assistance. Users can reach the support team through:
- Email: Customers can send inquiries or issues to support@pipwise.com for detailed support.
- Live Chat: The live chat feature on the website allows for real-time assistance, making it easy to get quick answers to questions.
- Telephone: Customers can call PIPWISE at +44 7350 511176 for direct communication with the support team.
- Social Media: PIPWISE maintains a presence on social media platforms, providing customers with additional channels to seek help and stay updated.
Service Availability
PIPWISE’s customer support services are available 24/5, ensuring that assistance is accessible during the trading week. The support team speaks multiple languages, with English being the primary language. This multilingual support is designed to cater to a diverse clientele.
Additional Resources
PIPWISE also provides various educational resources to help traders enhance their skills and knowledge. These include:
- Video Tutorials: Step-by-step guides on using the trading platform and understanding market trends.
- Webinars: Live sessions hosted by experts covering trading strategies and market analysis.
- Market Analysis: Regular updates and insights into market movements to help traders make informed decisions.
- Trading Signals: Timely alerts that can assist traders in identifying potential trading opportunities.
Frequently Asked Questions
Yes, PIPWISE is regulated by the Comoros MISA with a retail forex license (License No. BFX2024116). While it is an offshore regulation, it ensures that PIPWISE adheres to certain compliance standards.
PIPWISE offers a maximum leverage of 1:1000 and a minimum deposit of $50. The spreads start from 0 points, depending on the account type, and they provide various account types including Standard and ECN accounts, each with different commission structures.
PIPWISE prioritizes fund security by maintaining segregated accounts for client funds, ensuring that they are kept separate from the company’s operating funds. Additionally, they utilize advanced security protocols on their trading platforms to protect client information and transactions.
PIPWISE offers the MT5 trading platform, which is known for its user-friendly interface, advanced features, and fast execution speeds. Many users have reported a smooth trading experience with efficient customer support and easy access to various trading tools.
Related Forex Brokers
Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.