Tripeak -Some Important Details about This Broker

Note: Tripeak's official website - https://tripeakfx.com/ is currently inaccessible normally.

Tripeak was founded by Tripeak Services Limited in Singapore in 2019. It offers trading in 35 Currency Pairs, Gold, Silver, Crude, Cryptos and Indices with leverage up to 1:1000 and spread from 1.6 pips on the Classic account via the MT4 platform. The minimum deposit requirement to open a live account is just 10 USD. However, it currently has no valid regulations.

Pros and Cons

Is Tripeak Legit?

No, Tripeak is not regulated by any financial authorities. Please be aware of the risk!

What Can I Trade on Tripeak?

Tripeak boasts that it provides various trading instruments, such as 35 currency pairs, Gold, Silver, Crude Oil, Indices.

Account Type

Tripeak provides three types of trading accounts, namely Cent, Classic, ECN. To open a Cent account, only $10 is enough, if you are willing to take the risk of trading with an unregulated forex broker. The Classic account requires the same amount of initial deposit as Tripeak.

The most expensive account, the ECN account, asks for an initial deposit of $1,000.

Leverage

Tripeak allows its clients to use leverage of up to 1:1000, higher than the levels regarded appropriate by many regulators, with the maximum leverage for major forex up to 1:30 in Europe and Australia, and 1:50 in Canada and U.S.

Since leverage can magnify gains as well as losses, it can also cause serious fund losses, especially to inexperienced traders. Therefore, it is wise for beginners to choose the smaller size no more than 1:10 until they gain more trading experience.

Spread and Commission

Tripeak's spreads and commissions also vary by the accounts.

Trading Platform

Deposit and Withdrawal

TripeakFX accepts payments via Neteller, Skrill, Perfect Money, FasaPay, China Union Pay and cards.