Allpips Review – All You’ll Find Here Is Hypocrisy And Deceitfulness

A brokerage brand that has nothing of value to offer can only bombard you with claims about their excellence and wide range of services. While the website in question spews lies about guaranteeing access to global markets, you won’t really be able to make a single buck on this trading portal.

Ganged up with AdroFx, which is just as dangerous in their operations, the Allpips scam will first earn your trust and then eat up your deposits.

Fortunately for all traders interested in investing in the mentioned scheme, our Allpips review is here to bring the real truth to light and expose the website for what they truly are – a notorious financial swindler.

Broker status:	Unregulated Broker
Regulated by:	None
Operating Status:	Active Forex Trading Scam
Known Websites:	allpips.com
Blacklisted as a Scam by:	N/A
Owner:	Speway limited
Headquarters Country:	Hong Kong (alleged)
Foundation Year:	2016-10-06
Online Trading Platforms:	Web
Mobile Trading:	Not available
Minimum Deposit:	N/A
Deposit Bonus:	Not available
CFD Trading Option:	Yes
Crypto Asset Trading:	Yes (BTC, ETH, LTC, XRP)
Available Trading Instruments:	Forex, Crypto, CFDs on Index and Stocks
Maximum Leverage:	1:500
Islamic Account:	Not available
Free Demo Account:	Available
Accepts US clients:	Yes
Global Fraud Protection Experts’ Verdict:	Watch out for illicit brokers, they’re only out to get your cash!

Blacklisted Partner Firm

It seems that the only way for this fraudster to get clients is by faking regulations and by teaming up with other shady companies. It’s been that way since 2016. You see, their owner, Speway limited, allegedly operates out of Hong Kong, but SFC has no record of ever licensing them.

The next problem is their involvement with AdroFx, VFSC regulated but blacklisted by FCA, for which our firm in question operates as a sort of a medium or intermediary. Considering that you’re constantly, as a trader, redirected from one offshore site to the other, the connection between two is evident.

Be sure that your funds with this platform aren’t secured through account segregation or compensation plans and your personal information is subject to misuse.

Reputation Cover-up

The success of any fraudulent operation lies in the swindler’s ability to cover up the truth. Many of these fake sites rely heavily on paid online content to advertise their alleged quality of service.

We can see the involvement of these so-called review seller networks on many review platforms, like TrustPilot and SiteJabber. This is why it’s so important to double-check the company’s legal information before investing. If you have been defrauded by this firm, consult with our legal experts to start your chargeback.

How The Scheme Functions

The methods and tactics differ from one boiler room to another depending on their target demographic. What separates the South East Asian and Far East cons like this one or Global FX is the prevalence of so-called pig butchering.

It involves active commitment of boiler room agents on social dating platforms like Tinder or Badoo, where they pretend to be romantically interested in the victim. After a while, the lovey-dovey narrative inevitably shifts to “future planning”, where the target is urged to make an investment with the fraudulent company in question.

Fraudulent History

Ever since the allpips.com domain was first launched in 2010, it was used exclusively for online financial fraud. The site changed owners and design numerous times, finally becoming what we see today in 2016. This data is corroborated in the WhoIs registry information.

Our web analysis tool determined that most of the traffic comes from these countries:

• United States

• South Africa

• India

• Nigeria

• Pakistan

Limited Functionality Software

The Allpips platform is a single, rudimentary web-based terminal. The absence of complex analytical tools and other advanced features is quite obvious, especially when compared to the industry leaders – MT5 and cTrader.

Furthermore, the distribution is simplified and the interface itself only creates an illusion of a user-friendly layout, when it’s completely defunct in reality. These web software are often heavily manipulated by the illicit service providers for the purpose of money extortion.

Instrument Groups Offered

The choice of tradable assets is quite limited, although the portal attempts to fool you into believing hundreds of them are available. Buying and selling options are possible on the following financial products groups:

• Forex (EUR/USD, USD/JPY, EUR/GBP)
• Index CFDs (CAC40, DAX, FTSE100)
• Stocks (Alcoa, Boeing, Caterpillar)
• Crypto (BTC, ETH, LTC, XRP)

One Live Account Only

The dubious broker we’re reviewing refers to AdroFx as their trusted broker and directs you to open a live trading account that takes you to that platform’s client zone.

From there, you can choose the deposit method, but it isn’t clear which features it brings and their prices. Additionally, you can also use the Allpips copy-trading function from their own user area.

Demo Is Available

Demo account comes with a virtual margin of $100,000 but its purpose is questionable because the terminal is still not responding.

The whole Allpips account making process is all tangled up. You will keep being redirected from one platform to another and it’s utterly frustrating and shady.

Absurd Leverage And Costs

The trading costs and Allpips fees are absolutely unacceptable. Spreads on the major Forex pairs like EUR/USD start from 2.6 pips, which is far higher than the industry average. Trading commissions aren’t shown from inside the platform and are not discussed on the site.

What additionally undermines the legitimacy and usefulness of the offer is the fact that the maximum leverage can be 1:500. This is more than ten times higher than the EEA and UK maximum leverage of 1:30.

Hidden Withdrawal Options

On the surface it seems as though this platform doesn’t feature any payment processing whatsoever. The real situation is different though, as these schemers are all too happy to take your money, just like Profit Trade.

With no clear Allpips withdrawal policy, the fraudsters can invent any excuse to deny your payouts. They can bounce you around with their AdroFx partners, and deny any liability.

The situation might seem bleak, but with the assistance of our professionals, they can’t deny your funds forever. Book a free consultation via the live chat today, and start fighting back for your money!

Recovery Exists! Contact Our Experts Today!

Whoever runs the allpips.com platform are professionals at ruining your day. The entire operation is well covered up, tangled in a mess of parent companies, affiliates and partners intended to confuse the client. When it comes to payouts, nobody will accept any liability or obligation towards the user, and they will keep shifting the narrative until the victim gives up.

Don’t let this happen to you! No matter how messy the entire situation seems, our professionals are more than experienced with these sorts of frauds. Get in touch with us via the live chat, and use the free first consultation to start your recovery process.