PipHijau LTD is a Malaysia based foreign exchange broker with a philosophy that ensures customer satisfaction and to help their traders and clients achieve their trading goals. Started in 2008, PipHijau has a few reasons why they think you should choose them, they include access to Islamic accounts, spreads as low as 1.2 pips, no requotes or rejections, leverage up to 1:500, minimum deposits of $50 and the ability to use expert advisors. These are all pretty standard things so we will use this review to dive deeper into the services on offer to see how they compare to the competition.
Account Types
Should you decide to sign up, you will need to decide which of the five available accounts you will want to use, we have detailed them below for you.
AI Premium Account: A minimum deposit of $500 is required to open this account, it uses straight-through processing (STP) and has leverage up to 1:500. There is a starting spread from 1.2 pips and a minimum trade size of 0.01 lots with no maximum. There is no added commission on this account and scalping and hedging are both allowed but the use of Expert Advisors is not. The stop out level for this account is set at 10%.
ECN Account: This account has a minimum deposit of $1,000 and it uses straight-through processing (STP) and has leverage up to 1:200. There is a starting spread from 0.6 pips and a minimum trade size of 0.01 lots with no maximum. There is an added commission on this account of $8 per lot traded and scalping and hedging are both allowed by the use of Expert Advisors is not. The stop out level for this account is set at 10%.
Tournament Account: A minimum deposit of $100 is required to open this account, it uses straight-through processing (STP) and has leverage up to 1:500. There is a starting spread from 1.2 pips and a minimum trade size of 0.01 lots with no maximum. There is no added commission on this account and scalping and hedging are both allowed and the use of Expert Advisors is also allowed. The stop out level for this account is set at 10%.
Standard Account: This account requires a deposit of $50 and it uses straight-through processing (STP) and has leverage up to 1:300. There is a starting spread from 1.2 pips and a minimum trade size of 0.01 lots with no maximum. There is no added commission on this account and scalping and hedging are both allowed and the use of Expert Advisors is also allowed. The stop out level for this account is set at 10%.
Micro Account: A minimum deposit of $10 is required to open this account, it uses a hybrid execution-style and can be leveraged up to 1:1000. There is a starting spread from 1.5 pips and a minimum trade size of 0.01 lots with a maximum of 100 lots. There is no added commission on this account and scalping and hedging are both allowed but the use of Expert Advisors is not. The stop out level for this account is set at 34%.
Leverage
The maximum leverage available depends on the account you are using, we have outlined the differences below.
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AI Premium Account: 1:500
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ECN Account: 1:200
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Tournament Account: 1:500
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Standard account: 1:300
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Micro Account: 1:1000
The leverage on the accounts can be selected when the first opening one and should you want to change it, you will need to log into your account and can change it from there.
Minimum Deposit
The minimum amount required to open up an account is $10 which gets you the Micro account, if you want a normal style account then you will need to deposit at least $50 for the Standard account.
Deposit Methods & Costs
We had to go into the FAQ of the site to find any information on deposits, the only methods mentioned are Credit Card (Visa and MasterCard) and electronic payment methods (FPX), they do not go into any more detail in the FAQ. There are no added fees from PipHijau but you should be sure to contact your own bank or processor to see if they add any transfer fees of their own.
Withdrawal Processing & Wait Time
Withdrawal requests will be processed by PipHijau within 24 hours, it will then take between1 to 5 working days to fully process depending on the method used.
Conclusion
There are lots of options from PipHijau when it comes to account but not a whole lot of difference between them. Just MetaTrader 4 as a trading platform which is not an entirely bad thing. There wasnt a product specification or breakdown of tradable assets which means that some people may not be able to find the instruments they need and look elsewhere. PipHijau seems to be more aimed towards people who live in Malaysia as all of their education is physical-based and situated there, so if you are from Malaysia they may be a good broker to use, but if you are not, we would suggest looking elsewhere.
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