Trading Pips Ltd Review: Do Not Deal With TradingPipsLtd.Com

Learning anything about this strange company is impossible if you solely rely on the website contact info. Besides one email address and a phone number you won’t be able to find a physical address or anything relating to the company’s history. Stay with our Trading Pips ltd review as we uncover the web of lies behind the name of this offshore organization.

We quickly came across another name for the owning firm – Hottcoinx. One suspicious claim follows this name and it’s about being regulated in the US. Of course, after a thorough check of the NFA member’s list we were sure this was another blatant lie.

Trading conditions are completely unfamiliar and so is the trading platform. It’s a question if Trading Pips ltd even has a functional trading software at all.

The painfully obvious fraud went unresponsive at the moment, so let’s just hope it stays that way. No one knows with certainty how long it passes before they reemerge with a new name and trading brand.

Trading Pips Ltd Regulation and Fund Security

Hottcoinx should have offices in Nebraska and Texas if judging by the information from the web presentation. They should also have a license but they obviously don’t. Futures Commission Merchants (FCM) and Foreign Exchange Dealers (FED) in the US have to have a certificate if they wish to engage in the legal brokerage business. NFA is a collective database of broker entrepreneurs with a license and Hottcoinx or Trading Pips ltd are not on the list of members.

We are by no means surprised in the least that it is so. US regulatory criteria are some of the harshest in the world. Companies that want to establish a brokerage business have to deposit $20 000 000 as proof of planning a stable and long lasting corporation.

Organizations make deals with top tier banks to provide the safekeeping of clients’ funds through segregated bank accounts. Leverage is limited to 1:50 and negative balance protection ensures clients are unable to lose more than they’ve initially deposited.

As opposed to EU regulations, US brokerage houses are allowed to offer bonuses. However, all broker dealers have to make detailed reports of the money transactions in due time and to their supervising institutions to prevent the attempts of money laundering.

Trading Pips ltd could hardly meet any of the US licensing standards we just discussed. Them not being a member of NFA is a solid evidence of Trading Pips ltd not operating as a legitimate online financial services provider, so beware.

Trading Pips Ltd Trading Software Overview

Trading platform at Trading Pips ltd is a simple client area with an image of an unresponsive chart and no option to place trades. What you can still do at any moment is deposit, of course.

The only question is why would you make an investment if you can’t even trade? We couldn’t help but wonder who exactly did Trading Pips ltd intend to fool with this pathetic excuse of a trading terminal. Even the least knowledgeable of all novice traders know better than to trust a non-operational software.

We couldn’t even preview the tradable instruments or test the trading environment. Nothing at all about the Trading Pips ltd platform gives off a slightest impression of having a function or purpose. It’s crystal clear we’re dealing with a shameless scammer.

Deposits and Withdrawals Procedure

What else would a crypto scammer allow as a depositing method other than digital currencies? In this case that’s Bitcoin and USDT. There are, however, two unpopular E-wallet options – Paystack and Stripe.

Urging customers to deposit via crypto is nothing new or strange. Frauds are safely tucked away in their lair and snatching their victims’ money while staying anonymous. The precious anonymity is only provided through crypto transactions because it’s hardly traceable.

Rather than taking on such a risk and buying crypto to fund your trading account, we advise you to choose more safe channels like credit cards. You will be able to request a chargeback within 540 days after depositing.

Trading Pips ltd reveals no data considering the withdrawals. The chances of getting your investment back are quite slim anyway, taking in consideration that this is a cyber thief you’re dealing with.

How Is Fraud Carried Out?

Fabricating false information on websites is what scammer brokers specialize in. Very often it happens to be just one person or several experienced deceivers behind a fake broker’s name. They cheat customers into believing them by creating a convincing web presentation and bragging about the non-existent services and top notch trading platforms.

For an additional effect they may even forge a license and many beginners in the Forex trading market may take it as truthful. Easily tricked, the targets keep investing led by promises of wealth and huge returns.

The situation takes a new turn when it’s time for a withdrawal. The more fees they impose, the higher the trading volume requirement, the less chances for you to get your money back.

Trading Pips Ltd Summary

Trading Pips ltd is an illicit offshore entity that advertises questionable online trading services. Our review confirms that.

In summary,  Trading Pips ltd isn’t properly licensed as they claim to be. The US regulatory system would never accept to license a suspicious incognito broker without a functional trading platform.

If ever in doubt, please visit the commercial register of a jurisdictional financial institution. There you can easily inform yourself of the legitimacy of your broker dealer.

When dealing with scammers, please keep a level head and stay away from so called recovery agents. Another form of scamming, they will persuade you to give them more money to help you recover your funds. Eventually, they too are deceivers that earn off your misery.

FAQs About Trading Pips Ltd Broker