FX Profit Pips claim to offer trading signals with more than 90% accuracy. They provide trades on 12 major pairs and four commodities. Traders can receive them through WhatsApp channels and copy them on their live accounts. The company makes many claims about its services. Let us observe their website and offerings and see if the executions are profitable or not.
How FX Profit Pips works
The signals require the following steps to work properly:
- Purchase one of the packages available on the website.
- Provide your email, mobile number, and WhatsApp information.
- The company will then do the trades on the designated channels.
The company claims that a total of 56 experts work with them to provide the signals in 11 major countries. They identify themselves as ex-bankers who came to the forex market. There is no further information available which is a poor practice, nor is the management interested in providing names and portfolios of traders. This leads us to believe that the signals service might be looking to scam customers.
The EA has the following features:
- Multiple packages that traders can choose from.
- Signals are available through SMS, email, and WhatsApp.
- Trading records are available on the website.
- All the trades come with a fixed stop loss and take profit.
- Support is available 24/7 through email.
The providers are not fully transparent on the strategy they are using to trade the markets. They claim to trade currencies and commodities with 90% accuracy. Through their history records, we can see that they are trading with a poor risk-reward ratio of 2:1 and 3:1. It might be possible to achieve a high win rate, but a single stop loss hit can easily wipe out gains from multiple wins through such an approach.
The company doesn’t provide backtesting records for its service. It Is easy to use forex simulators and backtest the trading strategy. However, the signal providers are unwilling to show us any verified detailed statements or records to prove their performance. This again leaves us with many concerns over their output and puts them on our bad list.
FX Profit Pips trading results
FX Profit Pips fails to provide us with any live records. They are only tracking their performance on the website, which is insufficient to convince anyone of their output. It is quite easy to manipulate the outcome of each trade when they are recorded by hand. There are no detailed statements of any accounts that we could find on the website. Surely the providers are trying to deceive customers and rob them of their capital through the lies.
Pricing & refund
The company has multiple packages available on the website, which start from $10 and go up to $50. The subscription is limited in terms of the pairs that are traded and the number of pips achievable. Ten dollars will only get you 20 pips, and the plan will expire after that. This is quite a strange approach to provide signals.
There are no customer reviews present on Forex Peace Army, which is quite strange as the posts on the social media platforms date back up to 2018. During such an extensive duration, no trader has tried their program.
The video on the website where the company explains its account management plans mentions the maximum drawdown at 40%. Looking at the live signals, we can see that such a drawdown is quite impossible, provided a trader follows signals using appropriate risk management. The company doesn’t follow proper lot sizes or is lying about their live records.