PIPTRADE is a UK-based Forex broker that is regulated by the Financial Services Authority (FSA) and run under the auspices of the Henyep Group, which is also the parent company for HY Markets. In contrast to other Forex brokers that are looking to enlist large or institutional clients, PIPTRADE focuses on serving the needs of individual traders. The brokerage offers trading for items such as Forex, Gold, Silver, Gas, Oil, Metals, Indices and Stocks. The company’s website is available in English, Arabic and Chinese.
During our PIPTRADE review we were satisfied to see that the brokerage offers both technical and fundamental analyses on their site, as well as real time news, a glossary of trading terms and up to date market commentary. You can sign up for a weekly newsletter and they also have a VIP program for the expert trader. A great advantage to opening an account with PIPTRADE is that they have their own web based trading platform. They also provide access to the MetaTrader4 platform in case you don't want to use their platform. To help traders who may be confused about which platform to choose, the website provides a side by side comparison on the two platforms which is extremely informative.
One notable advantage to having a PIPTRADE account is that you can open a Mini Account with only $50 initial deposit, a very reasonable sum for a trader who wants to get his feet wet without making a more substantial commitment. On the downside, PIPTRADE’s spreads are very high as compared with some other top Forex brokers, and their leverage is limited to 300:1. At the time of this PIPTRADE, the company’s services were not entirely compatible with Google Chrome.
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