High risk
43 out of 100 · 86% checked
Our investigation found it is high risk and could not be verified, and its client terms carry high risk, with 9 critical clauses.
We checked PIPWISE on 2026-10-30 across its company record, client terms, trading offer and service, and could verify 86% of its record. The score of 43 is what the checked record adds up to; nothing held it down. What would move the score: withdrawal rails, all-in eurusd cost, instrument breadth. Our published investigation found it is high risk and could not be verified, with 3.6 years of track record. Its client terms carry high risk, with 9 critical clauses.
Score last calculated 2026/10/30
Wikilix independent safety report
PIPWISE is not a confirmed scam, and we found no regulator warning, no enforcement action and no evidence of fraud naming this company. It is, however, a high-risk offshore broker, and we rate it 54…
Risk scorecard · each area scored 0 (clean) to 10 (worst)
What Wikilix has recorded about PIPWISE: its history, the licences it holds, its trading conditions and its fees.
PIPWISE is a retail forex and CFD broker operated by PIPWISE LTD, which publishes a registered address on Bonovo Road, Fomboni, on the island of Mohéli in the Union of the Comoros. It offers three live account tiers, all on MetaTrader 5, with entry minimums from 20 US dollars, floating spreads and leverage advertised up to 1:500. Its licence, BFX2024116, is an offshore Comoros registration. It was on the Mwali registrar's list of authorised brokerage companies on 16 October 2026, and it brings none of the client protections an onshore licence would carry.
PIPWISE states that it holds licence number BFX2024116 from the Moroni International Services Authority (MISA) in the Union of the Comoros, in the name of PIPWISE LTD, with effect from 23 May 2024. As of 16 October 2026, that licence is on the Mwali registrar's own list of authorised brokerage companies, which names pipwise.com as the licensed website. It does not appear on the registrar's suspended list. No licence category or permitted scope is published for it.
Whether that listing exists and what it is worth are two different questions. MISA sits in the lowest of WIKILIX's regulator tiers: an offshore authority with low transparency, no client fund insurance, and no complaints mechanism available to clients of the firms it registers. It publishes a list of authorised companies rather than a searchable licence lookup. The licence is a paid offshore registration rather than supervision by a functioning financial regulator, no investor compensation or deposit protection scheme is confirmed as covering PIPWISE clients, and a client who cannot recover funds has no practical redress route through the registrar.
Offshore only, and the distinction decides what a client can rely on. PIPWISE LTD is recorded on the Mwali registrar's list of authorised brokerage companies in the Comoros under licence BFX2024116, so the licence the broker advertises does exist. What it does not have is supervision by a financial regulator in a major onshore jurisdiction: nothing on the record indicates authorisation in the United Kingdom, the European Union, Australia or a comparable regime, so the dispute escalation and compensation routes those regimes provide are not available here.
There are two company registrations under the name PIPWISE LTD. The Comoros company, registration number HT00524055, is the entity behind the website, at the Fomboni address above, and that number was confirmed against the Mwali International Services Authority's register of authorised brokerage companies on 16 October 2026. A second PIPWISE LTD, registration number 14746895, was incorporated in the United Kingdom on 21 March 2023. A client should be clear which of the two is their counterparty before funding an account, because a Comoros company and a United Kingdom company are not interchangeable for legal or complaints purposes.
PIPWISE carries the risk profile of a broker whose only licence is an offshore registration, and the contract matters as much as the regulatory position here. Under the Short-Term Trading Rule in its client agreement of July 2026, any trade held for less than two minutes has its profits treated as non withdrawable while its losses are fully calculated and deducted from the balance, and the rule applies to all symbols. The broker's ECN tier is positioned for scalpers and day traders, whose holding periods routinely fall inside that window. The same agreement allows the company to remove profits it attributes to arbitrage, cross hedging or leverage abuse, in each case on its own determination and without prior notice, permits the company to take the opposite side of a client's trade, and limits the company's liability to the sum of the fees a client has paid.
PIPWISE publishes three live tiers, all on MetaTrader 5 and all advertised with leverage up to 1:500:
No swap free or Islamic tier is published on any of the account pages, and no demo account is listed among the live tiers, although a demo server exists for MetaTrader 5. The client agreement limits a client to one client portal registration and a maximum of five trading accounts, and reserves the company's right to refuse further accounts at its own discretion.
Spreads are floating. The Standard tier starts from 10 points with no commission, while both ECN tiers start from 0 points and charge per lot: 6 US dollars on ECN and 4 US dollars on ECN PRO.
The broker's own pages do not agree on commission. Its forex instrument page states 3 US dollars per lot on forex and metals and 10 US dollars per lot on crypto, with BTCUSD charged at 0.06 per cent in US dollars per lot, while the account tier pages give the 6 and 4 US dollar figures above. A client should confirm which schedule applies to the tier they open.
The funding table shows no fee for any deposit or withdrawal channel. The client agreement is less definite: it provides that commissions, fees, taxes and other costs are payable to the company at rates the company decides periodically and communicates in writing, so the published fee free position is not fixed by the contract.
All three tiers advertise leverage up to 1:500, but that figure reaches only the smallest balances. The client agreement operates a dynamic leverage table keyed to account balance: up to 1:500 below 100 US dollars, 1:400 from 100 to 200, 1:300 from 200 to 1,000, 1:200 from 1,000 to 5,000, and 1:100 above 5,000 US dollars. An ECN client funding the 200 dollar minimum therefore sits at 1:300, as does an ECN PRO client funding 500 dollars. The agreement adds that objections to dynamic leverage will not be accepted and that the bands may change.
MetaTrader 5 is the only platform PIPWISE offers. The broker distributes a branded Windows installer, runs a browser terminal at webterminal.pipwise.com, and links Android and iOS builds pointed at its Pipwise-Live and Pipwise-Demo servers; the macOS link goes to the MetaQuotes download. MetaTrader 4 is not offered.
Funding is predominantly crypto and e-wallet based. The published channels are Tether across the TRC20, ERC20 and BEP20 networks with USDC grouped alongside it, Ethereum, other cryptocurrency including BNB and Bitcoin, Sticpay, TCPAY, and Visa or Mastercard cards. Every channel carries the same terms: a 10 US dollar minimum, a maximum published as unlimited, deposits described as instant and withdrawals as within 24 hours. No bank transfer appears on the funding page.
Two caveats matter more than those headline times. The client agreement contains no deposit or withdrawal clause at all, so the 24 hour figure is a website statement with nothing behind it in the contract. The Short-Term Trading Rule can also make profits non withdrawable. A 120 per cent first deposit bonus is advertised with no published terms: no turnover requirement, no withdrawal condition and no expiry are stated.
The contact page states that the support team is available 24 hours a day, seven days a week, and offers a live chat widget, a contact form, email at support@pipwise.com and info@pipwise.com, and a single number, +44 7350511176, used for phone, WhatsApp and Telegram alike. The site publishes no FAQ and no help centre; the nearest equivalent is a training section of the blog. Support is described as multilingual without naming the languages, although the site itself is published in English, Persian, Arabic and Russian.
In its favour, PIPWISE publishes its account terms and its funding table clearly and in detail, the entry minimum of 20 US dollars is low, crypto and e-wallet funding starts at 10 US dollars with deposits stated as instant, and MetaTrader 5 is provided across desktop, browser and mobile.
Against that: the only licence is an offshore Comoros registration, from a registrar that provides no client fund insurance and no complaints mechanism; the advertised 1:500 leverage is out of reach for anyone funding the ECN minimums; the broker's own pages publish two different commission schedules; the client agreement makes profits from trades under two minutes non withdrawable while keeping the losses, sets no withdrawal terms at all, and caps the company's liability at the fees a client has paid; and the deposit bonus is advertised without conditions.
PIPWISE presents a conventional MetaTrader 5 offering with a low entry point and detailed public pricing, operated from the Comoros by PIPWISE LTD under an offshore licence that carries no compensation scheme with it. The most important thing to settle before funding an account is not the spread but the contract: the leverage a client actually receives falls as the balance grows, the commission schedule differs between the broker's own pages, and the withdrawal terms a client would rely on are absent from the client agreement while a short-term trading rule can remove the profits from fast trades. Read the and the in full first.
8 full-page captures of PIPWISE's own site, archived so what they said can still be read after the pages change.
We have not confirmed any regulation for PIPWISE. Money deposited with an unregulated broker is protected only by the company itself.
Trading with an unregulated broker puts your deposit at risk.
We have not confirmed any regulation for PIPWISE. An unregulated broker is not supervised by a financial authority, and money you deposit is protected only by the company itself.
What this means for you
3 account types on record. Minimum deposit from USD 20. Leverage up to 1:500.
| Account | Min Deposit | Max Leverage | Commission |
|---|---|---|---|
| StandardStandard | USD 20 | 1:500 | No commission |
| ECNECN | USD 200 | 1:500 | $6 per lot |
| ECN PROPro ECN · ECN | USD 500 | 1:500 | $4 per lot |
Where PIPWISE says it will and won't take clients
Confirmed blocked
Named in the broker's own terms
Covered by a parent block
Territories a blocked country carries with it
6 ways to fund an account.
| Method | Deposit fee | Withdrawal fee | Min deposit | Withdrawal min / max | Processing |
|---|---|---|---|---|---|
Tether (TRC20 • ERC20 • BEP20 • USDC)CryptocurrencyRead from the Deposit & Withdrawal table on 16 Oct 2026. Deposit tab: Instant, min $10, max Unlimited. Withdrawal tab: Within 24 hours, min $10, max Unlimited. The stored time is the longer of the two (withdrawal); deposits are stated as instant. No maximum is stored because the broker publishes 'Unlimited' rather than a figure. The table shows 'Without fee' and the page claims 'zero fees from our side'. But the 'Commissions and fees' clause of the Client Agreement (July 2026) states that commissions, fees, taxes and other costs are paid to the company 'at rates that are periodically decided by the company and communicated to the client in writing'. So the fee cannot be taken as zero. That agreement publishes no deposit or withdrawal clause at all, and its Short-Term Trading Rule makes profits from trades held under two minutes non-withdrawable. Networks listed for this row: TRC20, ERC20, BEP20, with USDC grouped alongside USDT. | Not recorded | Not recorded | USD 10 | USD 10Not recorded | Up to 24 hours |
Ethereum (ETH)CryptocurrencyRead from the Deposit & Withdrawal table on 16 Oct 2026. Deposit tab: Instant, min $10, max Unlimited. Withdrawal tab: Within 24 hours, min $10, max Unlimited. The stored time is the longer of the two (withdrawal); deposits are stated as instant. No maximum is stored because the broker publishes 'Unlimited' rather than a figure. The table shows 'Without fee' and the page claims 'zero fees from our side'. But the 'Commissions and fees' clause of the Client Agreement (July 2026) states that commissions, fees, taxes and other costs are paid to the company 'at rates that are periodically decided by the company and communicated to the client in writing'. So the fee cannot be taken as zero. That agreement publishes no deposit or withdrawal clause at all, and its Short-Term Trading Rule makes profits from trades held under two minutes non-withdrawable. | Not recorded | Not recorded | USD 10 | USD 10Not recorded | Up to 24 hours |
Crypto Currency (BNB • BTC)CryptocurrencyRead from the Deposit & Withdrawal table on 16 Oct 2026. Deposit tab: Instant, min $10, max Unlimited. Withdrawal tab: Within 24 hours, min $10, max Unlimited. The stored time is the longer of the two (withdrawal); deposits are stated as instant. No maximum is stored because the broker publishes 'Unlimited' rather than a figure. The table shows 'Without fee' and the page claims 'zero fees from our side'. But the 'Commissions and fees' clause of the Client Agreement (July 2026) states that commissions, fees, taxes and other costs are paid to the company 'at rates that are periodically decided by the company and communicated to the client in writing'. So the fee cannot be taken as zero. That agreement publishes no deposit or withdrawal clause at all, and its Short-Term Trading Rule makes profits from trades held under two minutes non-withdrawable. The broker names only BNB and BTC in this row; Bitcoin also appears in the payment-system logo strip on other pages. | Not recorded | Not recorded | USD 10 | USD 10Not recorded | Up to 24 hours |
Sticpay (USD • EUR)E-WalletRead from the Deposit & Withdrawal table on 16 Oct 2026. Deposit tab: Instant, min $10, max Unlimited. Withdrawal tab: Within 24 hours, min $10, max Unlimited. The stored time is the longer of the two (withdrawal); deposits are stated as instant. No maximum is stored because the broker publishes 'Unlimited' rather than a figure. The table shows 'Without fee' and the page claims 'zero fees from our side'. But the 'Commissions and fees' clause of the Client Agreement (July 2026) states that commissions, fees, taxes and other costs are paid to the company 'at rates that are periodically decided by the company and communicated to the client in writing'. So the fee cannot be taken as zero. That agreement publishes no deposit or withdrawal clause at all, and its Short-Term Trading Rule makes profits from trades held under two minutes non-withdrawable. Currencies listed: USD and EUR. | Not recorded | Not recorded | USD 10 | USD 10Not recorded | Up to 24 hours |
TCPAY (IRR • USD)E-WalletRead from the Deposit & Withdrawal table on 16 Oct 2026. Deposit tab: Instant, min $10, max Unlimited. Withdrawal tab: Within 24 hours, min $10, max Unlimited. The stored time is the longer of the two (withdrawal); deposits are stated as instant. No maximum is stored because the broker publishes 'Unlimited' rather than a figure. The table shows 'Without fee' and the page claims 'zero fees from our side'. But the 'Commissions and fees' clause of the Client Agreement (July 2026) states that commissions, fees, taxes and other costs are paid to the company 'at rates that are periodically decided by the company and communicated to the client in writing'. So the fee cannot be taken as zero. That agreement publishes no deposit or withdrawal clause at all, and its Short-Term Trading Rule makes profits from trades held under two minutes non-withdrawable. Currencies listed: IRR and USD. This is the only channel quoted in Iranian rial, while the site footer states services are not available to residents of Iran. | Not recorded | Not recorded | USD 10 | USD 10Not recorded | Up to 24 hours |
Visa & MasterCard (USD • EUR)Credit CardRead from the Deposit & Withdrawal table on 16 Oct 2026. Deposit tab: Instant, min $10, max Unlimited. Withdrawal tab: Within 24 hours, min $10, max Unlimited. The stored time is the longer of the two (withdrawal); deposits are stated as instant. No maximum is stored because the broker publishes 'Unlimited' rather than a figure. The table shows 'Without fee' and the page claims 'zero fees from our side'. But the 'Commissions and fees' clause of the Client Agreement (July 2026) states that commissions, fees, taxes and other costs are paid to the company 'at rates that are periodically decided by the company and communicated to the client in writing'. So the fee cannot be taken as zero. That agreement publishes no deposit or withdrawal clause at all, and its Short-Term Trading Rule makes profits from trades held under two minutes non-withdrawable. Currencies listed: USD and EUR. The table lists the card channel for withdrawals as well as deposits. | Not recorded | Not recorded | USD 10 | USD 10Not recorded | Up to 24 hours |
One trading platform on record: MetaTrader 5.
The only platform PIPWISE offers: a branded Windows installer, a web terminal at webterminal.pipwise.com, and Android and iOS builds pointed at the Pipwise-Live and Pipwise-Demo servers. The Mac link goes to the MetaQuotes download.
6 domains on record. All active and served over HTTPS.
2 legal entities behind the PIPWISE brand.
The operating company is PIPWISE LTD. Registered in Comoros. Registration number HT00524055.
3 other brokers on the record share what PIPWISE offers — its country, regulator, account types or platforms — set beside it on the same measures.
Common questions about PIPWISE
There is no published complaints route. PIPWISE publishes no complaints address, and its client agreement of July 2026 sets out no complaints procedure, no governing law and no court: it states that the client's exclusive recourse is set out in the agreement itself, and limits the company's liability to the sum of the fees the client has paid.
The offshore registrar that lists the broker's licence operates no complaints mechanism for clients of the firms on its list, and no investor compensation or deposit protection scheme is confirmed as covering PIPWISE clients. The practical channels are the published support ones: support@pipwise.com, info@pipwise.com and the contact page.
Not when the trade was held for less than two minutes. The Short-Term Trading Rule in the client agreement of July 2026 provides that profits from such trades are not withdrawable, while any losses are fully calculated and deducted from the account balance, and it applies across all symbols.
This matters most on the two ECN tiers, which the broker positions for scalpers and day traders. The same agreement also lets the company cancel profits it attributes to arbitrage, cross hedging or leverage abuse, in each case on its own determination and without prior notice.
One client portal registration per client, and a maximum of five trading accounts under it, according to the general provisions of the client agreement.
The company also reserves the right, at its sole discretion, to restrict the opening of new accounts where a client has already created a genuine trading account.
PIPWISE advertises a 120 per cent first deposit bonus on its promotions page. It publishes no conditions for it at all: no turnover requirement, no withdrawal condition and no expiry date are stated.
The client agreement sets out no bonus rules either, so the terms on which the credit could be kept or withdrawn cannot be established before accepting it.
PIPWISE LTD. According to the broker's own published information, the operating company is registered in the Union of the Comoros under number HT00524055, at Bonovo Road, Fomboni, on the island of Mohéli.
A second company of the same name, PIPWISE LTD, registration number 14746895, was incorporated in the United Kingdom on 21 March 2023 and is also associated with the brand. A client should establish which entity is their counterparty before funding an account.
No. None of the three account tiers is published as swap free, and no Islamic account appears anywhere on the broker's account pages.
The funding table shows no fee for any deposit or withdrawal channel, and the page describes the service as fee free.
The client agreement does not lock that in. It provides that commissions, fees, taxes and other costs are payable to the company at rates the company decides periodically and communicates to the client in writing, so the published fee free position should not be treated as fixed.
The funding page states that withdrawals are processed within 24 hours, with a minimum of 10 US dollars and no stated maximum, on every published channel.
That figure is a website statement rather than a contractual commitment: the client agreement contains no deposit or withdrawal clause at all, and sets out no processing time, limit or verification requirement. The agreement also makes profits from any trade held for less than two minutes non withdrawable, while losses on such trades are fully deducted from the balance.
Cost depends on the tier. Standard charges no commission and starts from 10 points of floating spread, while the two ECN tiers start from 0 points and charge commission: 6 US dollars per lot on ECN and 4 US dollars per lot on ECN PRO.
The broker's own pages do not agree on this. Its forex instrument page states 3 US dollars per lot on forex and metals and 10 US dollars per lot on crypto, with BTCUSD charged at 0.06 per cent in US dollars per lot, while its account tier pages give the 6 and 4 dollar figures. Confirm which schedule applies to the tier you open.
PIPWISE offers three live tiers, all on MetaTrader 5 and all advertised with leverage up to 1:500.
The lowest entry point is 20 US dollars, on the Standard account. The ECN account requires 200 US dollars and the ECN PRO account 500 US dollars.
Every published funding channel has its own floor of 10 US dollars, so it is the account tier rather than the payment method that sets what a client needs to open.
MetaTrader 5 is the only platform PIPWISE offers. MetaTrader 4 is not available.
The broker distributes a branded Windows installer, runs a browser terminal at webterminal.pipwise.com, and links Android and iOS builds pointed at its Pipwise-Live and Pipwise-Demo servers. The macOS link goes to the MetaQuotes download rather than a branded build.
PIPWISE publishes one number, +44 7350511176, used for phone, WhatsApp and Telegram alike, and two email addresses, support@pipwise.com and info@pipwise.com. A live chat widget and a contact form are available on its contact page.
The contact page states that the support team is available 24 hours a day, seven days a week. The site publishes no FAQ and no help centre.
PIPWISE advertises leverage of up to 1:500 on all three of its account tiers. That ceiling reaches only the smallest balances.
Its client agreement operates a dynamic leverage table keyed to account balance: up to 1:500 below 100 US dollars, 1:400 from 100 to 200, 1:300 from 200 to 1,000, 1:200 from 1,000 to 5,000, and 1:100 above 5,000 US dollars. A client funding the 200 dollar ECN minimum is therefore capped at 1:300. The agreement adds that objections to dynamic leverage will not be accepted.
PIPWISE funds accounts mainly through cryptocurrency and e-wallets. The published channels are Tether across the TRC20, ERC20 and BEP20 networks with USDC alongside it, Ethereum, other cryptocurrency including BNB and Bitcoin, Sticpay, TCPAY, and Visa or Mastercard cards.
Every channel carries the same published terms: a minimum of 10 US dollars, a maximum stated as unlimited, deposits described as instant and withdrawals as within 24 hours. Bank transfer is not offered.
PIPWISE holds Comoros licence BFX2024116, which was on the Mwali registrar's own list of authorised brokerage companies on 16 October 2026. That listing names pipwise.com as the licensed website, and the licence does not appear on the registrar's suspended list.
What the listing does not provide is supervision. It is a paid offshore registration rather than oversight by a functioning financial regulator: there is no client fund insurance, no compensation scheme and no complaints mechanism available to clients of the firms it registers, so a client who cannot recover funds has no practical redress route through the registrar. PIPWISE holds no licence from a regulator in the United Kingdom, the European Union, Australia or a comparable onshore jurisdiction.
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