ANSWER PipsForex is an unlicensed broker that we strongly advise against trading with despite the seemingly attractive deals it offers.PipsForex claims in its "AML POLICY" that it is operated by the PipsForex Limited, a company registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) under registration number 25751BC2020. However, our search has been unable to locate the company on the SVG FSA register. Moreover, the offshore financial watchdog has explicitly stated that it neither issues licenses for forex trading or brokerage nor regulates entities involved in such activities. As such, PipsForex is not supervised by any regulatory body.Regarding your question, we suggest you avoid dealing with PipsForex due to its status as an unlicensed broker. It comes with huge risks including financial losses and identity theft, as there are no rules in place to safeguard investors. Therefore, investors are encouraged to stay away from unlicensed brokers like PipsForex and instead choose a fully regulated one.
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