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Poipex-Some important Details about This Broker

POIPEX | 2022-06-28 17:52

Resumo：Poipex Market Limited (Poipex) claims itself to be an international foreign currency broker having offices in Malaysia, Seychelles, and the United Kingdom, providing more than 120 types of financial derivatives transactions to global traders, including foreign exchange, index, crude oil, precious metal for retail and institutional clients with multilingual services 24 hours a day, seven days a week for Europe, Asia, Africa, Australia, and other locations. Poipex offers four trading accounts for traders to choose from, with spreads as low as 0.0 pips, and maximum leverage up to 1:400.

Registered Country/Area	United Kingdom
Founded year	2022
Company Name	POIPEX MARKET LIMITED
Regulation	No regulation
Minimum Deposit	$100
Maximum Leverage	400:1
Spreads	From 0.0 pips ( allegedly)
Trading Platforms	MetaTrader 5 tradiing platform
Tradable assets	foreign exchange, precious metals, energy, index
Account Types	Not specified
Demo Account	No
Islamic Account	No
Customer Support	Phone
Payment Methods	Bank wire, credit cards
Educational Tools	Limited or none

Overview of POIPEX

POIPEX MARKET LIMITED is a forex brokerage based in the United Kingdom. Established in 2022, the company provides trading services in various financial instruments such as foreign exchange, precious metals, energy, and indices. However, it is important to note that POIPEX MARKET LIMITED operates without any regulatory oversight.

The minimum deposit required to open an account with POIPEX is $100, making it accessible to a wide range of traders. With a maximum leverage of 400:1, traders have the potential to amplify their trading positions. The spreads offered by POIPEX are alleged to start from 0.0 pips, but it is important to exercise caution as these claims are allegedly made by the company.

POIPEX MARKET LIMITED provides its clients with the MetaTrader 5 trading platform, a popular choice among traders. This platform offers a variety of tools and features that can enhance trading experience and efficiency.

The company does not specify the different types of accounts available, nor does it offer a demo or Islamic account option. This limitation may not be ideal for traders seeking specific account types or those who follow Islamic principles in their trading activities.

In terms of customer support, POIPEX MARKET LIMITED offers assistance via phone. However, it is important to note that the availability and responsiveness of customer support may vary.

Is POIPEX legit or a scam？

POIPEX MARKET LIMITED operates without any regulatory oversight. This means that the broker is not subject to supervision or scrutiny by any regulatory authority.

Without regulatory oversight, there is no guarantee that POIPEX MARKET LIMITED adheres to industry standards or follows ethical business practices. The lack of regulation exposes traders to potential risks such as inadequate security measures, misinformation, and potential fraudulent activities. It also means that there is no external body to hold the broker accountable for any misconduct or malpractice.

Market Instruments

POIPEX MARKET LIMITED offers a diverse selection of market instruments to its traders. Among the available options are foreign exchange, precious metals, energy, and indices.

Foreign exchange, or forex, is an essential market instrument offered by POIPEX. It enables traders to participate in the global currency market, taking advantage of fluctuations in exchange rates.

In addition to forex, this broker also allows traders to trade precious metals such as gold and silver. These metals have long been regarded as safe-haven assets, often sought after during times of market volatility.

Energy products such as crude oil and natural gas are also available for trading with POIPEX. These commodities play a fundamental role in the global economy and are subject to various supply and demand factors.

Furthermore, POIPEX MARKET LIMITED provides access to a range of indices, which represent the performance of a group of stocks from a specific market sector or region.

In conclusion, POIPEX MARKET LIMITED offers an average range of market instruments compared with other brokers' offerings.

Account Types

POIPEX MARKET LIMITED fails to disclose clear information regarding the account types it offers. While requesting a minimum deposit of $100, this broker conveniently neglects to detail the different account options available to clients. This lack of transparency raises concerns about the firm's commitment to providing adequate choices and catering to the diverse trading preferences of its clientele.

Furthermore, the absence of a demo account compounds the issue, as POIPEX denies traders the opportunity to familiarize themselves with the platform and its functionalities before risking their hard-earned funds

Leverage

POIPEX MARKET LIMITED offers leverage ratios reaching up to a staggering 1:400. While leverage can be a useful tool for amplifying potential profits, it is crucial to recognize the inherent dangers it presents to traders.With leverage ratios as high as 1:400, POIPEX places clients in a precarious position, as the potential for substantial losses is magnified exponentially.

Spreads & Commissions (Trading Fees)

POIPEX MARKET LIMITED purports to offer spreads starting from 0.0 pips. However, the lack of a demo account for clients to test this claim is a cause of concern. The absence of a demo account restricts potential traders from verifying the accuracy of the proclaimed spreads. In fact, reports from users suggest that the spreads provided by this broker are far from stable and may vary significantly during trading sessions.

Non-Trading Fees

POIPEX MARKET LIMITED also imposes non-trading fees on its clients. These additional charges can further eat into traders' profits and must be taken into account when considering engaging with this particular broker.Notwithstanding the lack of transparency surrounding these charges, reports from users suggest that the non-trading fees imposed by POIPEX can be excessive and inconsistent.

Trading Platform

POIPEX MARKET LIMITED claims to offer the widely recognized MetaTrader 5 (MT5) trading platform to its clients. MT5 is a popular trading platform known for its advanced features and versatility. However, the reliability and overall performance of this platform when used with POIPEX can be called into question. Traders have expressed concerns about experiencing technical glitches, frequent system downtimes, and slow execution speeds, hindering their trading activities and potentially leading to substantial financial losses.

Deposit & Withdrawal

POIPEX MARKET LIMITED offers a limited range of payment methods for both depositing and withdrawing funds, namely bank wire transfers and credit card transactions. However, insufficient information is available on the associated fees and processing times for deposits and withdrawals through POIPEX.

With the minimum deposit set at $100, POIPEX appears to lower the entry barrier, allowing traders with limited capital to begin trading. However, the absence of detailed information on deposit and withdrawal fees raises questions about the true cost of engaging with this broker.

Customer Support

POIPEX MARKET LIMITED offers customer support to its clients solely through a phone contact, which can be reached at +855 93796238. Relying solely on a single contact method, specifically phone communication, raises questions about the accessibility and efficiency of the customer support offered by POIPEX. In a rapidly evolving financial landscape where traders require quick and effective assistance, a limited means of communication may present signif

Educational Resources

Another area where POIPEX MARKET LIMITED falls short is in the realm of educational resources. Limited or no educational tools are provided, which can be a disadvantage for traders who prefer to have access to market analysis, tutorials, and other educational materials to support their trading decisions.

Is POIPEX suitable for beginners？

POIPEX MARKET LIMITED may not be an ideal choice for beginners due to several limitations and deficiencies that are prevalent within their services. Three significant aspects that contribute to this unfavorable assessment are the absence of micro accounts, lack of transparency, and the lack of demo accounts and educational resources.

Firstly, the absence of micro accounts can prove to be detrimental to beginners who aim to start with smaller investment sizes. Micro accounts allow novice traders to gain practical experience and familiarity with the market without risking substantial amounts of capital.

Secondly, the lack of transparency exhibited by POIPEX raises concerns for beginners who require clear and comprehensive information regarding fees, processing times, and other crucial aspects of trading. Without this vital information, novices are left in the dark, unable to make informed decisions or fully understand the costs associated with their trading activities.

Furthermore, the absence of demo accounts deprives beginners of an essential learning tool that allows them to practice and develop their trading skills without risking real money.

Lastly, the lack of educational resources provided by POIPEX further undermines its suitability for beginners. Novice traders often rely on educational materials, such as tutorials, articles, or webinars, to develop their understanding of the financial markets and hone their trading skills.

Is POIPEX suitable for experienced traders？

Experienced traders may also find POIPEX MARKET LIMITED to be insufficient in meeting their advanced trading requirements.

Firstly, the absence of tiered accounts can be a disadvantage for experienced traders who seek more personalized and tailored trading conditions. Tiered accounts allow seasoned traders to access advanced features, enhanced trading tools, and lower fees based on their trading volume or account equity.

Secondly, the provision of only one trading platform, specifically MT5, can be a significant drawback for experienced traders. While MT5 is a widely used platform, experienced traders often prefer a range of options that cater to their unique trading styles and preferences.

Lastly, experienced traders often engage in complex trading strategies, deal with larger trade sizes, and may encounter technical or operational issues that demand immediate resolution. The absence of responsive customer support channels, such as live chat or dedicated account managers, can lead to frustration and delays in issue resolution, which can have a detrimental impact on experienced traders' trading activities and overall experience.

Conclusion

In conclusion, POIPEX MARKET LIMITED exhibits several noteworthy limitations and deficiencies that should be carefully considered by traders seeking a reliable and comprehensive brokerage service. The absence of micro accounts, lack of transparency, limited trading platform options (only MT5), absence of tiered accounts, an absence of demo accounts and educational resources, and the lack of responsive customer support collectively contribute to a suboptimal trading experience. These shortcomings restrict the flexibility, personalization, and support necessary for both beginner and experienced traders to thrive in the financial markets. Therefore, prudent consideration should be given to alternative brokerage options that adequately address these shortcomings and provide a more conducive trading environment.