What is PI？
PI, a brokerage firm based in Malaysia, offers an extensive range of financial instruments, including Forex, precious metals, stock index futures, and crude oil. However, its operation without apparent regulation poses questions about its legitimacy and reliability.
In our upcoming article, we will present a comprehensive and well-structured evaluation of the broker's services and offerings. We encourage interested readers to delve further into the article for valuable insights. In conclusion, we will provide a concise summary that highlights the distinct characteristics of the broker for a clear understanding.
Pros & Cons
Pros:
Acceptable Minimum Deposit Amount: PI makes trading accessible to a wide range of investors by maintaining a reasonably low minimum deposit amount at CNY100.
Zero Commissions: The platform operates without charging any commissions on trades, which can contribute to higher potential gains for traders by reducing transaction costs.
No Deposit/Withdrawal Fees: The absence of charges on deposits and withdrawals makes fund movements cost-effective, enhancing the sleekness and client-friendliness of the trading experience.
Demo Account Available: The offering of a demo account provides a risk-free platform for investors, especially beginners, to familiarize themselves with trading before venturing into live trading.
MT4 Trading Platform: PI offers the renowned MT4 trading platform, known for its user-friendly interface, advanced charting tools, and compatibility with automated trading systems.
Stop-Loss and Segregated Accounts Implemented: The incorporation of features like stop-loss provides traders with risk management tools. Furthermore, segregated accounts provide an additional layer of fund safety for clients.
Cons:
Unregulated: As PI is currently not regulated, there are concerns over fair trading practices and protection of clients' rights. This unregulated status can be perceived as a risk by for investors.
Not Accept Clients from Some Countries: PIs operational reach doesn't extend to all countries which could reduce its appeal to global traders seeking an extensive geographic reach.
Is PI Safe or Scam？
When considering the safety of a brokerage like PI or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:
User feedback: For a deeper insight into the brokerage, traders should read reviews and feedback from existing clients. These valuable inputs from users, available on trustworthy websites and discussion forums, can provide firsthand information about the company's operations.
Security measures: PI employs segregated accounts for client funds and uses stop-loss measures, all aimed at enhancing the protection and security of its clients' investments.
In the end, choosing whether or not to engage in trading with PI is an individual decision. It is advised that you carefully balance the risks and returns before committing to any actual trading activities.
Market Instruments
PI offers traders an impressive range of financial instruments to diversify their investment portfolios.
They provide opportunities in Forex, giving their clients access to major, minor, and exotic currency pairs, following global market trends.
Additionally, investors can also trade in precious metals, a traditionally safe investment choice.
PI also offers futures contracts focused on leading stock indices, which appeal to both speculators and hedgers.
Furthermore, they facilitate trading in the fast-paced world of crude oil, a vital and highly volatile commodity.
The array of market instruments allows investors to strategize according to their preferences and risk tolerance.
Account Types
PI offers demo account so investors have the opportunity to practice and familiarize themselves with the trading interface before engaging in actual trades. For live accounts, PI offers two main types of accounts to meet the needs of different classes of investors: the Standard account and the Micro account.
The Standard account, typically for more experienced traders, offers broader features. On the other hand, the Micro account accommodates beginners or those preferring to trade with smaller amounts.
The firm also maintains a minimum deposit requirement of CNY 100, making the platform accessible and encouraging potential investors to engage in the financial markets.
Spreads & Commissions
PI offers spreads beginning from 2 pips. A significant aspect of their pricing structure is the offering of zero commissions on trades. This cost-effectiveness could prove advantageous to traders as any saved costs directly contribute to potential gains. Such a feature not only attracts newcomers but can also entice seasoned traders.
Trading Platforms
PI provides traders the highly popular MT4 trading platform across various devices. Be it on a personal computer or a mobile device, users have the flexibility to access their accounts and monitor the markets.
Traders using Android or iOS devices will find their platform available in their respective app stores. This encourages seamless trading on-the-go, providing clients with constant access to financial markets, regardless of their location.
Trading tools
PI provides an Expert Advisor tool as part of its trading services, which can be a significant asset for traders. The Expert Advisor, available on the MT4 platform, is essentially an automated trading system. It's designed to eliminate the emotional and psychological biases of trading while helping trading and decision-making processes based on pre-established strategies. It can perform trades automatically, handle multiple instructions simultaneously, and operate 24/7 if desired, providing distinct advantages.
Deposit & Withdrawal
PI creates a straightforward and efficient process for its clients in managing funds.
Clients can conveniently deposit and withdraw funds using RMB, while the trading is conducted in USD. To make it more effortless, PI executes fund conversion at a fixed rate (1 USD = 6 RMB).
Deposits are swiftly and securely handled, with the funds credited to clients' accounts within 10 – 15 minutes. Withdrawals are equally prompt, with same-day processing for requests submitted before 11:59 a.m. CST. Requests placed after midday arrive the next day; however, ones made after midday on Fridays and over the weekend are processed on Monday.
Notably, PI charges no deposit or withdrawal fees, upholding a commitment to providing accessible, efficient, and cost-effective trading services to its clients.
Customer Service
PI provides comprehensive customer support through live chat, physical address and email, ensuring timely assistance.
Moreover, the broker maintains a Sina microblog account as supplement customer support channels.
Email: info@pi88.com.
Registered address: B-02-18, Plaza Bukit Jalil (Aurora Place) No. 1, Persiaran Jalil 1, Bandar Bukit Jalil, 57000, Kuala Lumpur, Malaysia.
Company Address: Suite 03, D-01-01 Menara Mitraland, No 13 A, Jalan PJU 5/1 , Kota Damansara, 47810, Petaling Jaya, Selangor ,Malaysia..
Conclusion
In conclusion, PI is an internet-based brokerage firm, headquartered in Malaysia, that offers an array of trading instruments, including Forex, precious metals, stock index futures, and crude oil. However, the lack of regulatory supervision in its ongoing operations is a source of concern and may present certain risks. This absence of regulation could lead to questions about its commitment to ethical trading standards and the safeguarding of its clients.
As a result, you must exercise discretion if you are considering to trade with this broker, or consider alternatives who demonstrates a firm commitment to regulatory transparency, compliance, and ethical business practices.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
