PIPTRADE 247 (pipstrade247.com) has been flagged by ASIC (Australia) for "Unlicensed". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: pipstrade247.com.
The onboarding at PIPTRADE 247 (pipstrade247.com) was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: API access|Social trading features|Low minimum deposit
Cons: No fractional shares|Inactivity fee applies after 12 months
I gave PIPTRADE 247 (pipstrade247.com) a fair chance. After for just over a year of usage, I can say with confidence that there are far better options available. The interface is clunky, the fees are higher than competitors, and the customer support team seems overwhelmed or understaffed.
Pros: Portfolio tracking tools|Segregated accounts
Cons: None so far
I joined PIPTRADE 247 (pipstrade247.com) when my bank disappointed me and I searched for alternatives and from the start, things felt off. The signup process collected far more personal information than necessary, the verification took unreasonably long, and when I finally got access, the platform was nothing like what was advertised.
Pros: Real-time alerts|Two-factor authentication|No hidden fees|Fast deposits
Cons: Alert system is basic
The so-called education at PIPTRADE 247 (pipstrade247.com) 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 a few weeks now thinking they would help me learn.
Pros: Real-time alerts|Great customer service|Clean UI
Cons: Cannot customize dashboard fully
I wanted to transfer my portfolio from another broker to PIPTRADE 247 (pipstrade247.com). They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Dividend tracking|No hidden fees|Multi-currency support|Copy trading available
Cons: Wish they had more educational resources
I had a dispute with PIPTRADE 247 (pipstrade247.com) and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Helpful community forum|Clear documentation|Educational resources
Cons: Help articles are sometimes vague|No live chat on mobile
The mobile app from PIPTRADE 247 (pipstrade247.com) is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: Helpful community forum|Two-factor authentication|Portfolio tracking tools|Customizable dashboard
Cons: Wish they had more educational resources|Spreads widen during volatile periods
Do not be fooled by the professional-looking website. Behind the scenes, PIPTRADE 247 (pipstrade247.com) is disorganized and incompetent. I found them through word of mouth in my investment club and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Dividend tracking|Detailed reporting|API access
Cons: Wish they had more educational resources|None so far
PIPTRADE 247 (pipstrade247.com) offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: Fast execution|Quick verification
Cons: No integrated tax optimization
KYC with PIPTRADE 247 (pipstrade247.com) is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Customizable dashboard|Dividend tracking
Cons: None so far