Operating status: SCAM
On November 27, 2023, the Financial Conduct Authority (FCA) issued a warning against iForexpips, stating that it is soliciting British investors without the required authorization. https://www.fca.org.uk/news/warnings/iforexpips
While iForexpips portrays itself as a regulated forex broker, claiming to be overseen by various financial authorities, our investigation reveals otherwise.
Despite its claim of having 30 years of experience, the domain name, iforexpips.com, was first registered in September 2023. This means the website is technically only 2 months old, which raises a red flag.
iForexpips purports to be regulated by many financial regulators, including the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Financial Sector Conduct Authority (FSCA), and the National Futures Association (NFA). However, our search for this broker in the registers of the aforementioned regulators yielded no matching results.
It's worth noting that the FCA has added iForexpips to its warning list as an unauthorized firm in the UK, further undermining the company's credibility.
In essence, iForexpips is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.
Based on these findings, it is clear that iForexpips is unequivocally a scam.