Pipstrade.live Scam: An In-Depth Investigation

With the rise of online trading, many platforms have emerged, promising substantial returns on investments. Unfortunately, some of these platforms are scams designed to deceive investors. One such fraudulent platform is pipstrade.live. This article will delve into the details of pipstrade.live, exposing its deceptive practices and providing a comprehensive understanding of why it is considered a scam.

Overview of pipstrade.live

pipstrade.live is a CFD (Contract for Difference) broker that claims to offer a wide range of trading services, including foreign exchange, cryptocurrencies, indices, stocks, energy, and commodities. However, upon closer inspection, it becomes clear that this platform is far from legitimate. According to the information available on TraderKnows, pipstrade.live has been marked as a scam, and this article will explore the reasons behind this designation.

Questionable Registration and Regulatory Claims

One of the first red flags about pipstrade.live is its dubious registration and regulatory claims. The website asserts that it was established in 2016 and operates under the trading name “Pips Trade.” Furthermore, it claims to be regulated by the Australian Securities and Investments Commission (ASIC) under the company entity VLS. However, investigations reveal that ASIC has no record of any regulated entity named VLS, indicating that pipstrade.live is operating without any legitimate regulatory oversight.

Account Opening Process

Opening an account with pipstrade.live involves visiting their website and filling out personal information such as name and email address. While this process might seem straightforward, it is essential to remember that providing personal details to an unregulated and fraudulent entity can lead to severe consequences, including identity theft and financial loss.

Trading Products and Investment Plans

pipstrade.live offers various trading products, including Forex, indices, commodities, stocks, and cryptocurrencies. The platform advertises several investment plans, each with enticing profit promises. These plans include:

1. Starter Account
   • Minimum Deposit: £500
   • Expected Profit: £3,500 – £5,000
   • Features: Trader Education, Risk Management, Tax-Free Spread Trading Profit
2. Classic Account
   • Minimum Deposit: £5,000
   • Expected Profit: £45,000 – £50,000
   • Features: Expert News and Analysis, Competitive Spreads, Advanced Trading Tools, Tax-Free Spread Trading Profit
3. Platinum
   • Minimum Deposit: £10,000
   • Expected Profit: £99,999
   • Features: Full Benefits, Trader Education, Advanced Risk Management, Tax-Free Spread Trading Profit
4. Forex Signals
   • Features: Professional Forex Signals, Up to 10 Signals Daily, 95% Success Rate, 24/7 Support, Advanced Trading Tools, Bitcoin Payments Only, Use Any Broker

These investment plans are designed to lure investors with the promise of high returns. However, the lack of transparency and regulatory oversight makes it highly unlikely that these profits are genuine.

Trading Platform

pipstrade.live claims to offer a self-developed trading platform with an average order execution speed of less than 7.12 milliseconds. The platform purportedly handles over 12,000 orders per second with comprehensive liquidity providers. Despite these claims, the legitimacy of the platform and its capabilities remains highly questionable due to the lack of regulatory approval and transparent operations.

Deposits and Withdrawals

One of the most alarming aspects of pipstrade.live is its support for deposits and withdrawals exclusively via cryptocurrencies. While cryptocurrency transactions can be legitimate, they are also favored by fraudulent entities due to their anonymity and irreversibility. This choice of payment method raises significant concerns about the platform’s intentions and trustworthiness.

Conclusion

In conclusion, pipstrade.live is a classic example of a fraudulent trading platform that exploits the lack of regulatory oversight and the allure of high returns to deceive unsuspecting investors. The platform’s questionable registration and regulatory claims, coupled with its reliance on cryptocurrency transactions, make it a high-risk and untrustworthy entity. Investors are strongly advised to steer clear of pipstrade.live and opt for brokers with transparent information, strong regulatory backing, and a solid reputation to avoid unnecessary financial losses.

FAQs

What is pipstrade.live’s official website? pipstrade.live’s official website is pipstrade.live.

Is pipstrade.live a legitimate company or a scam? pipstrade.live is currently marked as a scam on TraderKnows.

What services does pipstrade.live offer? pipstrade.live offers CFD trading services, including Forex, cryptocurrencies, indices, stocks, energy, and commodities.

What are the risks associated with using pipstrade.live? The primary risks include financial loss, identity theft, and dealing with an unregulated and fraudulent entity.

How can I protect myself from fraudulent trading platforms? Choose brokers with transparent information, strong regulatory backing, and a solid reputation. Avoid platforms that rely solely on cryptocurrency transactions and lack proper regulatory approval.

Are the investment plans on pipstrade.live genuine? Given the platform’s fraudulent nature, the investment plans are likely designed to deceive investors with false promises of high returns.

Final Thoughts

It is crucial to conduct thorough research and due diligence before investing in any trading platform. By avoiding unregulated and suspicious entities like pipstrade.live, investors can protect themselves from potential scams and financial losses. Always prioritize transparency, regulatory oversight, and a proven track record when choosing a trading broker.

External Link: For more information about the regulatory status and detailed reviews of various trading platforms, visit TraderKnows.