Today’s company to review is a MaxPipFX signal provider. Let’s take a closer look at it. A presentation of it looks simple, but is there enough intel for us to make a decision about it?
The first we see is current prices.
The next is a list of features:
- Forex Signals is a suggestion for entering a trade on a currency pair, their common signal has a specific price and time to enter.
- Daily Forex Signals. “They’re a group of experienced professional traders specialized in providing accurate daily forex signals based on live trading data and experience”
- Free Forex Signals they generate allow us to check how accurate intel the provide and check how many pips can be gained trading them.
- The company provides only EUR/USD signals, but, as they say, they do it professionally.
- They send SMS and Email Signals notifications.
- The average accuracy is around 70%. That’s is good as for a major symbol win-rate.
- Receiving a signal we have to enter it asap.
- The maximum leverage should be not over than 1:500.
- 5-10 signals weekly.
- They send signals between 8 am and 6 pm EST (US / New York) – 1 pm and 11 pm GMT (GB / London).
- 1:100 (?) is the max leverage they say in the FAQ.
- It’s a subscription service, so, we’ll be noticed two days before charging the next payment.
- There’s a package that allows copying trades using MT4 or an MT5 platform.
There’s a visualized explanation of lot size depending on an account balance if no risks in % were set.
|Lot size||An account balance|
|Use Lot 0.02||for $1000 Account|
|Use Lot 0.04||for $2000 Account|
|Use Lot 0.1||for $5000 Account|
|Use Lot 0.2||for $10000 Account|
|Use Lot 0.4||for $20000 Account|
|Use Lot 0.6||for $30000 Account|
MaxPipsFX trading results
If we take a quick look at the chart we 100% don’t want their service because no one wants to experience these ups and downs. It’s a real USD account on not a broker (ActivTrades) that’s even not from top-100. The account has been deployed in February 2019 and abandoned and withdrawn in February 2020. The annual gain was +27.56%. The average monthly was 1.96% with an insane 41.14% maximum drawdown. The initial deposit was $2200. The finals withdraw was $2235.18 and it looked like an evacuation.
There were traded 1239 deals with 1193.8 pips. The average loss is almost three times less ($1.49) than the average loss (-$3.85). The win-rate is between 71% for longs and 73% for shorts. The average trade length is one day. The profit factor is 1.03.
He tried to trade 20 symbols. There are no symbols that can rock, but EUR/CHF has brought a -$245.96 loss.
The trader opens trades mostly during a European session and a bit during night scalping hours.
The last trade before withdrawing was mostly EUR/CHF losses.
His signals never were good.
We’ve got onsite trading results. As we can see, if they’re true, there are many trades that were opened with SL and TP levels placement. These results ensure us that this service sucks.
The first three packages are notifications. $100 costs a monthly subscription, $90 per month charges for two months, and $80 per month charges for three months.
An MT4 and MT5 Auto Trade Copier costs $140 per month, $123 per month charging every two months, and $111 per month charging every three months.
These packages include online support.
How bad is a MaxPipFX signal provider?
- No strategy explanations provided
- No team members revealed
- No account owner/trader intel revealed
- No free signals to trade
- Np group/channel in messenger formed
- Garbage-kind verified trading results
- Fake trading results on the site provided
- Insane pricing comparing to the revealed results
- No people feedback provided