Expert AdvisorsForex

Forex Pip Shooter Review: Things You Need to Know Before Investing

2 Mins read
2.3

Forex Pip Shooter is an MT4 tool with average execution speed. It is a 100% automated software that uses sophisticated analysis along with the pip shooter method for ensuring high profits. The vendor promises 24/7 quick support. This ATS can provide safe and fast automation that increases your winning rate and minimizes the risks.

Forex Pip Shooter trading strategy

As per the vendor, this ATS uses the pip shooter method where it continuously scans the market multiple times. It generates only a few pips at a time but does it frequently. The process ensures safe and profitable trades. The FX robot also uses a state-of-the-art technical evaluation using the market parameters that are hyper controlled.

Forex Pip Shooter backtesting report

We could not find backtesting reports for the system on the official site. The results from backtests are not predictive of the future performance of the FX robot. But traders use backtesting to know about the efficacy of the system. The lack of backtests for this ATS makes it difficult to analyze the system effectively.

Forex Pip Shooter live results

A real EUR account verified by the myfxbook site is shown here. 

Growth curve of Forex Pip Shooter on the Myfxbook site
Growth curve of Forex Pip Shooter on the Myfxbook site
Trading stats of Forex Pip Shooter on the Myfxbook site
Trading stats of Forex Pip Shooter on the Myfxbook site

From the above stats, we can see the EA has generated a total profit of 26.23% and an absolute profit of 23.59%. The daily and monthly profits are 0.05% and 1.61% respectively. A drawdown of 9.34% is present for the account that started in December 2020 with a deposit of €1,001.06. A total of 160 trades have been completed with a profitability of 73% and a profit factor of 2.29. The vendor does not reveal info on the lot size used which makes us suspect of a high-risk approach. Further, the profits are not very high and the low profits may be due to the risky approach used.

Some features of Forex Pip Shooter

Some of the significant features that the vendor boasts about this robot are:

  • It uses the pip shooter method that ensures a quick, safe, and accurate analysis.
  • Dynamic trading is present which adapts to your needs and the risk degree that the market shows at a time.
  • The EA uses profitable approaches that include tried and tested methods like hedging, breakout, and diversification.
  • As per the vendor, the EURUSD is the recommended pair and any timeframe can be used by the user.
  • A minimum of $1000 is needed for real accounts and a lot size of 0.01 is recommended.
Total return26.23%
Maximal drawdown 9.34%
Average monthly gain 1.61%
DeveloperForex Pip Shooter
Created, yearN/A
Price€800
TypeAdvanced analysis
TimeframeAny
Lot sizenot less than 1000 units per 0.1 of a standard lot
LeverageN/A
Min.depositN/A
Recommended deposit$1000
Recommended brokersKey to Markets
Currency pairsMultiple currency pairs
ECNYes

Main things to consider if you invest with Forex Pip Shooter

If you are interested in this EA, then you need to pay attention to:

Lack of vendor transparency

We could not find info on the company, the developer team, location, phone number, etc.  The absence of details indicates a lack of vendor transparency. 

Overpriced product

When compared to the market average, we find the pricing of this FX robot is exorbitant. There is no money-back guarantee which indicates a lack of reliability.

Verified trading results

The vendor provides a real live account verified by the myfxbook site. While the stats show a low drawdown indicating a low risk, the profits are not high. Further, the info about the lot size used is hidden, which looks suspicious.

Pricing details

You can buy this FX EA for €800. The package includes the software license, an installation guide, 24/7 support, one live or one demo account, and free updates. No refund policy is present which makes us suspect the dependability of the product.

Other notes

Unfortunately, we could not find user reviews for this FX EA on reputed review sites like Forexpeacearmy, Trustpilot, etc.

Forex Pip Shooter Summary

2.3
Forex Pip Shooter assures profitable trades with its sophisticated approach and pip shooter method. Our evaluation reveals the system has real account trading verified by the myfxbook site. The stats show a low risk but ineffective approach. Further, the lot info is hidden which looks suspicious. Other downsides we identified in this FX EA include the expensive pricing, the lack of user reviews, and the absence of a refund offer.
2.0

Functionality

2.0

Reliability

3.0

Strategy

2.0

Price

3.0

Trading Results

2.0

Vendor Transparency

Pros

  • +It is a fully automated system
  • +Live verified results

Cons

  • -Product is overpriced
  • -No money-back-guarantee
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