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- - Have they asked you to pay excessive withdrawal fees or to deposit more funds?
- - Or is there an excessive delay in processing your withdrawal?
- - Are they trying to push you into depositing more money with them even without withdrawing the one you've already put in?
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ETradePips does not care about such terms as the firm is operating illegally. The trader’s money is not safe in this entity. It is important that you stick to licensed companies as the trading conditions of the schemes are also transparent and protect traders against severe risks.
ETradePips is an ambiguous investment company that promises users high returns. Investors do not need to have experience in trading as they can copy-paste experience traders’ strategies. Sadly, this is another anonymous scheme that fails to reveal the people behind the venture or the professionals’ traders they highly speak of.
The scheme is luring naive traders with their sales pitch that is irresistible. The risks that you expose yourself to are dire. Moreover, the public cannot validate that the broker is indeed paying. The uncertainty surrounding this scheme is shocking.
ETradePips has been in the market for 8 months, yet there is no proof of investment activities. They only have an SSL certificate, but this will not stop the scheme from defrauding clients. The traffic visiting the broker is also inadequate.
The assets that the scheme is allegedly trading are forex, indices, and CFDs. However, the venture does not disclose the currency pairs that are available to trade. Leaving this critical information behind taints their image and shows the entity is not serious.
Moreover, the fees are also not disclosed. Several red flags surround the venture. The technique that the scheme is using is unknown. Moreover, the referral program can make you rich overnight. The venture is paying 5% once you invite a new person.
ETradePips is using the I follow strategy to generate their advertised returns. Here traders are optimizing the skills of expert traders. This strategy has several drawbacks like liquidity issues, slippage, and delay of execution. One wrong move will make you lose a lot of funds.
There is no data available to show that the venture is genuine and profitable. How are we supposed to believe this is the best entity while there is no evidence. The minimum capital that the firm is asking from traders is absurd.
There is no segregation of funds in this scheme. The praises ETradePips showers itself does not translate to its popularity in the market. We cannot even find investors’ feedback on the experience the company is offering.
The entity does not have trading bots. They solely depend on those they believe to be professional traders. You will be putting all your money into a company that does not have a history in the industry.
Invest with genuine forex trading companies in the world. These are schemes that will help you improve your trading skills. They are genuine and their trading conditions are sound. The leverage and spread information that traders can expect is clearly outlined.
Trading Conditions of ETradePips
The scheme claims it offer a superior trading platform to investors. At the moment, we thought the entity is talking about an MT5. We were disappointed to find a Web-based interface. The scheme is asking for critical materials like ID.
We do not recommend sharing such data with a suspicious scheme. Moreover, it is impossible to know the spread and leverage to expect from the scheme. The entity praises the strategy of copy-pasting trade of experienced traders. This has become the new skill of Ponzi schemes.
It is hard to tell if the individuals are really qualified or they make successful trades. Legit companies in the EU offer leverage of 1:30 to ensure that traders are not exposed to severe risks. Canadian and USA companies provide leverage of 1:50. If ETradePips offer something more than this, they are pushing you to make losses to benefit. The spreads are lucrative if they are below 1 pip.
Withdrawal and Deposits
Th minimum amount that you can deposit in ETradePips is $300. TherGenuine brokers are taking low as $10. This scheme is exploitive for nothing. The expensive company requires users to accept $3000 up to $5000. Unfortunately, the venture fails to reveal the payment methods available.
In most cases, we urge clients to use VISA or MasterCard as you can issue a chargeback from up to 540 days. Banks are trying to combat fraudulent activities in the market by creating a safe investment environment.
ETradePips does not provide sufficient info regarding withdrawal. All we know is that the withdrawal request is handled within 24 hours and the maximum amount to cash out is $20K. It is not disclosed if there are fees.
The venture can help cold call traders by promising to transform their lives. The problem is that these kinds of entities don’t seem to last long in the market. The domain name is only registered for a period of one year.
Regulation Status of ETradePips
ETradePips is a platform that purports it is legally operating in the UK. Unfortunately, this scheme is not on the FCA list of licensed brokers. The watchdog has done a perfect job in protecting the investors. A company cannot begin collecting funds from investors without depositing 730K EUR in their name.
The amount can be used to compensate investors if a scheme faces bankruptcy. All investment platforms operating in this country need to report their daily trading activities to the regulator. This helps in creating a sound trading environment. The broker can’t manipulate price as it can lead to their license being revoked.
Sadly, ETradePips does not care about such terms as the firm is operating illegally. The trader’s money is not safe in this entity. It is must stick with licensed companies as the trading conditions of the schemes are also transparent and protect traders against severe risks.
Contact Details and Customer Support
The venture does not reveal its actual location. The support is available via phone and email. The code of their phone number indicates the scheme is operating from the United Kingdom. There is no evidence since there is no office address, and the entity is most likely using a VoIP number to appear as though it is contacting you from UK.
The support team is only responsive if you want to make a deposit. Once things turn south, there is nothing you can do to get hold of the scheme. The statistics that the venture provides are fake. The broker is new in the industry, and it competes with legit firms with millions of users.
ETradePips cannot attain such a high number of traders in a few months. They also brag about having over 40 support staff. These people are nowhere to be seen. Invest with reputable schemes that have a sound support system that responds in time.
The company is anonymous, and the founder and team info is missing. The trading conditions of this entity are not revealed, and this is a big drawback. The scheme is operating without a license, and investors’ money is in great danger. The expert traders that you are copying their trades, we cannot attest they will always win.
Invest with the best forex trading companies that have trading tools and platforms. These are firms that are transparent and offer the best quality services to users. They do not have to use fluff content just to get the attention of investors.
However, it can be easy to be a victim of fraudsters, especially if you are a newbie. Researching is going to help you make the best decision. You can also educate yourself as there are several free resources on the internet.