FXZIPPER is a new Forex EA that uses a scalping strategy to earn tiny pips from every market. This makes it possible for it to maintain orders for the long-term and extract profits from them. It promises 6-12 pips and deals with 8 different pairs.
On the website, it is mentioned that this is a fully automated system with the ability to delay the placing of a trade if it does not promise any profits because of price increase or requites. But, to what extent can you trust them with your profits? In order to answer this question, let us analyze each of its features in detail.
How FXZIPPER EA Works
The FXZIPPER website gives us a short presentation of the features, which include a single lifetime license, different software versions for MT4 and MT5 platforms, 24*7 customer support, free updates, and a user manual. Backtesting and live trading results are also provided here.
Although it claims to be a reliable Forex EA, there is no information about the actual developers. When a company reveals the identities of the developers, along with their locations, you can tell that they are legitimate and have got nothing to hide. The lack of information in this department is a bit disappointing.
As we mentioned beforehand, this is a scalper system where the trades are not kept open for too long. They are closed after taking small profits and so many profitable trades need to be made for the net gain to be substantial. Compared to other scalping systems, however, FXZIPPER takes more time to close the trades so that the efficiency is not affected by the margin level, execution speed, etc.
Thankfully, the FXZIPPER developers have provided backtest results where we can check the performance of the trading system. An accuracy of 99.90% was maintained for these backtests with the timeframe being M15. As we can see from the above pictures, the first backtest conducted on the EUR/CHF pair shows a profit of $125046 made by investing $2000, which is quite promising indeed.
And, as for the trading strategies used, no technical details are revealed on the website. Many Forex traders, in addition to live trading results and backtesting, also look for the exact trading strategies used. So, we really think the developers ought to add some details about the same.
FXZIPPER Trading Results
FXZIPPER has provided a direct link to its Myfxbook page on the website, where we can see how the system performs in the live market. As you can see from the above figure, the results are not too disappointing. First, we must mention the drawdown level of 13.33%, which is extremely low for a Forex EA.
This particular account has been active since December 28, 2020 and has a profitability rate of 82%. The average win stands at 7.80 pips/$3.38 and the profit factor is 1.45, which is quite standard. We think this trading result shows that the company is ready to deliver on its promises.
Pricing and Refund
This software can be purchased by paying a one-time fee of $345. It is not exactly cheap, but with backtesting and live trading results both being positive, we think it is an amount worth paying. FXZIPPER also provides a 30-day money-back guarantee in case you are not satisfied with its performance.
This is one of the areas where the Forex EA disappointed us. There are no customer reviews to be found anywhere for this service on third-party websites like Forexpeacearmy, Trustpilot, etc. User reviews are something everyone relies on these days for purchasing products, and we think this might deter several Forex traders from investing in this system.
Through user reviews, we can get to know about things like how the system performs, whether the customer support is up to the mark, etc. The lack of user reviews tells us that this is not yet a reputable system trusted by many people.