FX Profit Pips is a signal service promising high returns with its free live trade alerts given by its professional team. The company assures more than 90% accuracy. You can get alerts for Forex and Commodities sent via daily SMS and WhatsApp. As per the vendor, the alerts include an analysis of the market, a review of the FX pairs, market insights, and more.
FX Profit Pips trading strategy
There is no explanation of the strategy used for generating the trade alerts. The vendor claims that each trade will have a specific SL and TP position. We could not find further info on the approach used which makes us suspect this is not a reliable system.
FX Profit Pips backtesting report
There are no strategy tester reports for this service. For the past performance, the vendor provides reports for every year since 2016. The report includes the number of pips gained for each pair per month. Traders prefer backtesting results as they provide a better perspective on the approach used and its efficacy. The lack of backtests makes us suspicious of the reliability of the service.
FX Profit Pips live results
No verified trading results are provided by the vendor. Instead, the vendor provides live FX signals that include the buy/sell order, TP, SL, and more. Below you can see a few illustrations of the trading that are present on the official FX Profit Pips website.
From the above trading stats, we can see details of the profit, balance, deposit, etc. But details like the drawdown, lot size, profitability, etc. are not present. With verified trading results we can know about such info and more. They help to provide a better insight into the strategy and the viability of the system. The lack of verified results raises a red flag for this service.
Some features of FX Profit Pips
As per the vendor, the main characteristics of this service are:
- The company comprises 56 expert traders from 11 countries offering alerts and advice on limiting the losses or risks in trading.
- Signals with more than 90% accuracy covering 12 major FX pairs and 4 commodities.
- The alerts include SL and TP levels that ensure high returns.
- For support, a 24/5 live chat support and 24/7 email support are present.
We could not find info on the timeframe, recommended deposit, brokers, leverage, etc. The lack of info makes us suspect the reliability of the system.
|Average monthly gain||N/A|
|Developer||FX Profit Pips|
|Price||$10 – $50|
|Currency pairs||12 major currency pairs and 4 commodity pairs|
Main things that make FX Profit Pips unreliable
Some of the major shortcomings that make this company unreliable are:
- Zero vendor transparency
The vendor does not offer company details like founding year, location address, phone number, etc. Other than mentioning that its team comprises experts from 11 countries there are no further details like their experience, expertise, etc. The lack of info makes us suspect this is not a reliable company.
- Undisclosed trading strategy
No info is present on the strategy used for generating the trade alerts. The lack of strategy disclosure raises a red flag for this system.
To use this service, you have to choose from the four packages available namely the starter package costing $10, the standard pack costing $29, the Premium pack costing $49, and the Pro signals pack that costs $50. Pending orders, live signals, fixed TP, Fixed SL, live chat, and signals sent via WhatsApp are the features common to all the packages. They differ in the profitable pips, currency pairs, and commodities they support. The packages are valid until you reach the stated pips.
Free pro plans are present where a professional team of the company will execute your orders leaving you just the task of monitoring the account. While the plan is free, the vendor will take a certain percentage of the profits depending on the package you choose. Deposits for the pro plans start from $1000. When compared to similar services in the market, the price packages are not expensive. However, considering the lack of a verified track record and other downsides we feel the service is not worth the money.
We could not find user reviews for this company on trusted sites like Forexpeacearmy, Trustpilot, etc. The absence of feedback indicates this is not a popular service.