FTMO PipsPRO
Pros and Cons
Pros
- Diverse range of trading instruments across multiple asset categories
- Multiple account types catering to different trader profiles
- Access to popular trading platforms: MT4 and MT5
- Potential for high daily returns with compounding strategies
- Instant deposit options available via cryptocurrency
Cons
- Unregulated broker, lack of oversight
- Limited customer support options
- No educational resources available
- Transparency issues regarding spreads and commissions
- Reports of scam allegations
Basic Information
User Reviews
FTMO PipsPRO Overview
FTMO PipsPRO is a forex broker that operates out of the United Kingdom and has been in business for a period of 2 to 5 years. As an unregulated entity, it lacks oversight from any financial regulatory authority, which raises concerns regarding investor protection and the transparency of its operations. Potential traders should be cautious, as the absence of regulation can pose significant risks, including limited accountability and assurance of fair practices in trading activities.
Is FTMO PipsPRO Safe? Regulation Analysis
Regulatory Information
FTMO PipsPRO is an unregulated broker, which means it operates without oversight or supervision by a financial regulatory authority. This lack of regulation can pose risks for traders, as there may be limited investor protection and transparency regarding the broker’s operations and practices. Traders considering FTMO PipsPRO or similar unregulated brokers should exercise caution, conduct thorough research, and carefully assess the risks associated with trading with a brokerage firm that lacks regulatory oversight.
Is FTMO PipsPRO Regulated and How Are Client Funds Protected?
The absence of regulation raises significant concerns regarding fund safety and investor protection for FTMO PipsPRO. Without oversight from a recognized financial authority, traders may face heightened risks, including potential fraud or mismanagement of funds. As such, it is critical for prospective investors to be aware of these risks and to consider regulated alternatives that offer greater security and transparency in their trading activities.
Trading Products and Services
What Trading Instruments Does FTMO PipsPRO Offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | Major Pairs (e.g. EUR/USD, GBP/JPY) | Many |
| Commodities | Gold, Oil | Varies |
| Indices | S&P 500, NASDAQ | Varies |
| Stocks | US, UK | Varies |
| Cryptocurrencies | BTC, ETH | Many |
FTMO PipsPRO offers a diverse range of trading instruments, making it suitable for various trader profiles, from beginners to experienced professionals. The broker provides access to multiple asset categories, including forex, commodities, indices, stocks, and cryptocurrencies. This variety allows traders to explore different markets and create flexible trading strategies tailored to their risk tolerance and investment goals. Whether you are looking for short-term opportunities in forex or long-term investments in stocks, the extensive selection of products supports effective portfolio diversification, catering to a wide spectrum of trading styles. However, potential users should remain cautious due to the broker’s unregulated status, which may affect transparency and investor protection.
Account Types and Trading Conditions
What Account Types and Fees Does FTMO PipsPRO Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| STARTER Account | Beginners | Daily return based on a 35% compounding total | Minimum investment of £1,000, max £4,999 |
| SILVER Account | Intermediate traders | Daily return of 10%, compounded to total 60% | Minimum investment of £5,000, max £9,999 |
| GOLD Account | Experienced traders | Daily return of 15%, compounded to total 75% | Minimum investment of £10,000, max £49,999 |
| PLATINUM Account | High capital investors | Daily return of 40%, compounded to total 120% | Minimum investment of £50,000, max £100,000 |
Account Opening Process
To open an account with FTMO PipsPRO, prospective traders must follow several steps. Initially, they need to submit personal, employment, and financial information as part of the registration process. This includes providing identity verification documents, such as an ID and proof of address. Once the initial application is submitted, traders may have the flexibility to upgrade their accounts to a professional tier later on, depending on their trading activities and requirements.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (Major Pairs) | Information not provided | Information not provided | Details may vary |
| CFDs (Stocks, Indices, Commodities) | Information not provided | Information not provided | Details may vary |
| Cryptocurrencies (BTC, ETH) | Information not provided | Information not provided | Details may vary |
Other Fees
FTMO PipsPRO may charge various fees associated with trading activities. Traders should be aware of potential deposit and withdrawal fees, as well as inactivity fees that could apply to dormant accounts. Additionally, there may be platform usage fees, overnight interest (swap rates), and currency conversion fees that could impact overall trading costs. It is essential for traders to review these aspects carefully to understand all related costs.
Trading Platforms and Apps
What Trading Platforms and Apps Does FTMO PipsPRO Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT4 | Windows, macOS, iOS, Android | Secure login, multiple order types, technical indicators | Demo accounts available |
| MT5 | Windows, macOS, iOS, Android | Enhanced market search, price alerts, economic calendar | VPS services offered |
| Web Version | Browser-based (cross-platform) | Two-factor authentication, symbol lookup, fast order execution | API access available |
FTMO PipsPRO offers a selection of trading platforms tailored to different trading preferences. The MT4 platform is well-suited for beginners and provides essential trading functionalities. MT5, with its advanced tools and features, caters to more experienced traders seeking comprehensive market analysis capabilities. The web version facilitates trading across devices, allowing for convenient access without the need for installation. All platforms emphasize secure login methods and quick order executions, ensuring that traders can operate efficiently and safely. Furthermore, the availability of demo accounts, VPS services, and API access enhances the overall trading experience, appealing to a diverse range of traders.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 3–5 days | No platform fee | Min £1,000, Max £100,000 | GBP |
| Credit/Debit Card | Instant | 1.5% fee | Min £1,000, Max £50,000 | GBP |
| Cryptocurrency (BTC, ETH) | Instant | No platform fee | Min £100, Max £20,000 | GBP |
Minimum Deposit
FTMO PipsPRO requires a minimum deposit of £1,000 to open an account. This amount is consistent across payment methods and does not vary by account type or region.
How to Withdraw
- Log into your FTMO PipsPRO account.
- Navigate to the withdrawal section in your account dashboard.
- Select your preferred withdrawal method.
- Enter the withdrawal amount within your available limits.
- Confirm your request and check for confirmation of the transaction.
Customer Support
FTMO PipsPRO Customer Support Overview
Support Channels
FTMO PipsPRO offers limited support channels for customers seeking assistance. Traders can primarily contact customer service via:
- Email: Traders can reach out through the provided email address for inquiries and support.
- Telephone: A contact number is available for direct communication.
Service Availability
The customer support service operates during standard business hours. However, it is important to note that FTMO PipsPRO does not explicitly state its support hours or provide information about multilingual support options.
Additional Resources
Currently, FTMO PipsPRO does not appear to offer educational resources such as video tutorials, webinars, or market analysis that could assist traders in enhancing their skills and knowledge in the trading environment.
Frequently Asked Questions
No, FTMO PipsPRO is an unregulated broker, which means it operates without oversight or supervision by a financial regulatory authority.
FTMO PipsPRO offers a range of market instruments, including cryptocurrencies, stock indices, forex pairs, energy commodities, individual company shares, options contracts, and exchange-traded funds (ETFs).
The maximum trading leverage varies depending on the instrument, ranging from 100X for cryptocurrencies to 5000X for specific assets like gold and Japanese market-related instruments.
No, FTMO PipsPRO does not appear to provide educational resources, which may be a limitation for traders seeking learning materials and support.
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.