Looking to read 0PIP Broker reviews, you are in the right place. Why 0pipbroker.com is not a genuine forex broker! Read details to know about the forex broker and findings.
This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
About 0PIP Broker
0PIP Broker otherwise known as 0pipbroker.com is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients.
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
What We Discovered about 0pipbroker.com Regulation
First of, 0PIP Broker claims its registered address to be in London, the UK and provides a phone number and a customer support email.
In order to clear the suspicions, we decided to check the registers of the Financial Conduct Authority (FCA) of the UK. As a matter of fact, it turned out in the end, this broker is completely unregulated and definitely not a reliable investment solution.
Furthering, 0PIP Broker claimed to be regulated by two very respected financial authorities – the Cyprus Securities and Exchange Commission (CySEC) and the Financial Sector Conduct Authority (FSCA) of South Africa. A quick check on each financial regulators’ database, we got zero hits for the company name and license numbers this broker has provided.
As far as we’re concerned, this is the one of the most ambiguous yet common remarks made by scammer entities, helping them become as vague as possible but yet retaining the illusion of being legit.
These are drawbacks for forex traders/ clients to avoid losing money with scam brokers lurking online. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Does 0PIP Broker Have Account Types?
0PIP Broker deposit is specified as $300 based on its trading account. According to the website descriptions, the broker offers a leverage capped 1:400 and a spread of 2pips.
This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, however, it equally increases the risk of sudden and excessive losses. All leading regulators limit leverage for retail traders. In the EU, UK and Australia the maximum permitted level is 1:30 and in the US it is 1:50.
In contrast, you should better stay with a legitimate broker that clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
The broker only accepts cryptocurrency deposits which is quite worrisome, but hardly surprising. There is a reason why so many scammers prefer to receive money in crypto.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
0PIP Broker Provides What Trading Software?
0PIP Broker claims to offer industry trading platforms MT5. But after registering an account, we got access to generic version of MT5 – the one you could download for free from the MetaQuotes website without the help of a broker.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Honestly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
0PIP Broker Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that 0pipbroker.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
0PIP Broker located at 0pipbroker.com appears like a trustworthy trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed brokers as they likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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Last Updated on March 21, 2023 by Danny