BarePips FX has been flagged by Financial Conduct Authority for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
The so-called education at BarePips FX is just marketing. Every webinar ends with a push to deposit more. The market analysis is generic and often wrong. If you want real education go elsewhere. I wasted for the past six months thinking they would help me learn.
Pros: Good analytical tools|Responsive team
Cons: Limited cryptocurrency options
Tried to withdraw my funds from BarePips FX and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Cons: Blocked my account|No legitimate license|Fake returns
Several red flags with BarePips FX: (1) They promise unrealistically high returns, (2) They're not registered with Financial Conduct Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
BarePips FX had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.
Pros: Easy withdrawals|Transparent fees|Clean UI
Cons: No fractional shares|Limited demo account features
Do not believe the bonus offer from BarePips FX. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited after a family member had a good experience and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Wide product range|Segregated accounts
Cons: Help articles are sometimes vague|Website design could be more modern
The only good thing about BarePips FX is that they remind you why regulation matters. I found them after attending a webinar they hosted. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Economic calendar|Wide product range
Cons: Alert system is basic
The platform itself is okay, but the customer service at BarePips FX is truly awful. I waited weeks for a response to a simple inquiry. When they did respond, it felt like a generic template that did not address my specific issue at all.
Pros: Full transparency|Competitive fees|Intuitive for beginners
Cons: No live chat on mobile
BarePips FX has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.
Pros: Wide product range|Competitive fees|Fast support response|Stable platform
Cons: Minimum deposit could be lower
The reporting at BarePips FX is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Market news feed|Professional team|Demo account available
Cons: Withdrawal takes 1-2 business days|Nothing significant
BarePips FX has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: Great customer service|Social trading features
Cons: Would like more payment methods