Fiper Forex broker review — Everything you need to know

Minimum deposit

From 250 USD

Bonus

None

Maximum leverage

1:500

Year founded

2022

Regulation

MU FSC

Trading platform

MT5, cTrader

Fiper is the name of an online CFDs broker website and brand. The company behind this trading name is TOB TRADING MAU LTD, which is a Forex broker launched in 2022. The broker offers advanced platforms and several account types, but we have detected some red flags.

In this unbiased review of Fiper online broker, we will assess the broker’s safety, accounts, spreads, commissions, profit withdrawals, leverage, support, and more.

Fiper Overview of the website

The website of Fiper does not look professional, but it is decent and responsive. Traders can quickly navigate around, and the website offers details about the broker’s main services. Some menus are well-sorted and enable traders to navigate a menu like account types, assets, and more. Menus are well-ordered, and the interface is user-friendly, which is crucial for beginners.

There is a live chat support plugin directly built into the website, which is very flexible and useful for quick contact.

Overall, the website is more than satisfactory with this broker and provides all important details in a user-friendly manner.

Fiper Safety and Regulations

Fiper Forex broker is registered in Mauritius as TOB TRADING MAU LTD (Tradename Fiper) Company. The broker is regulated by the Mauritius Financial Services Commission (FSC).

As a regulated broker, Fiper keeps traders’ money in segregated bank accounts, saving it separately from its own operational capital.

Fiper also offers negative balance protection services, preventing traders from losing more than their initial investment. This is a crucial policy for beginner traders who can easily abuse 1:500 leverage.

Fiper Accounts Reviewed

Fiper trading accounts are just two: Pro and VIP. Both accounts offer similar conditions, but VIP offers slightly more features. Let’s briefly review each of them to define how competitive these offerings are.

Fiper Pro Account

The Pro account is for general trading purposes and offers the following conditions:

Minimum deposit – From 250 USD
Maximum leverage – 1:500
Spreads from – 0.1 pips
Commissions – From 5 USD per side per lot
Minimum lot size – 0.01 lots

As we can see, this account offers low spreads but charges expensive commissions.

Fiper VIP Account

The VIP account offers premium services, but the minimum deposit requirements are very high. Here are its specs:

Minimum deposit – From 5,000 USD
Maximum leverage – 1:500
Spreads from – 0.0 pips or custom
Commissions – From 3 USD per side per lot
Minimum lot size – 0.01 lots

Overall, the VIP account is very competitive as the minimum deposit requirement is not very high, like many other brokers. The conditions seem competitive, except for the commissions on the Pro account. The pro account is expensive, and the VIP is very competitive.

Deposit and withdrawal options at Fiper

Deposits and withdrawals are crucial in online Forex trading. Fiper broker enables traders to use several payment methods, including wire transfers, Visa and MasterCard bank cards, crypto payments (BTC, ETH), and eWallets like Perfect Money, WebMoney, Payeer, and more. Deposits are instant. However, withdrawals on the Pro account take 1-5 business days for processing, and on the VIP account, they are claimed to be processed under 12 hours. This makes the pro account unattractive as profit withdrawals are too lengthy for comfort.

Fiper Assets — What can you trade?

Fiper trading assets are diverse and include FX pairs, commodities, indices, cryptos, and shares. Most of these assets are offered as CFDs, enabling quick trade execution. The maximum leverage of 1:500 allows traders to speculate using large trading positions. However, the commissions are very expensive, making it difficult to deploy scalping strategies.

Trading platforms of Fiper

Fiper FX and CFDs broker offers access to advanced trading software like cTrader and MetaTrader 5 (MT5). Both platforms are modern and very capable, allowing automated trading systems and custom indicators. The broker allows custom indicators, but we can not confirm it allows EAs. Both platforms are available for mobile trading as mobile trading apps and are accessible on both iOS and Android devices.

Education at Fiper

The broker lacks comprehensive educational resources as it only offers a trading blog. Fiper blog offers interesting reads about trading and various assets and instruments, but it can not be used as a substitute for a proper trading education. As for the tools and features, the broker offers Autochartist trading signals, and there is a copy trading service available on both trading platforms.

Fiper Customer Support

The customer support at Fiper is provided via live chat, email, and phone support channels. The live chat is built into the website, which is useful. There is also a WhatsApp plugin on the website allowing users to use the phone support option, which is very flexible.

As for the languages, the broker offers its website and support options in two languages only, and is not a multilingual broker.

Fiper bonuses and promotions

Currently, there are no bonuses or promotions available. The broker does not offer a welcome or deposit bonus, and there are no promotions like trading contests. This is a serious drawback for the broker as beginners can not get incentives to sign up for its trading accounts. No VPS services are offered either.

Is Fiper your broker? Final verdict

Fiper is a regulated broker based in Mauritius offering competitive trading platforms (cTrader and MT5), two account types, and high leverage. While the VIP account offers favorable conditions, the Pro account is expensive in terms of commissions and has slow withdrawal processing. The lack of bonuses, limited educational content, and minimal multilingual support are drawbacks to consider with this broker.