Expert AdvisorsForex

Pips Alert Review: Things You Need to Know Before Investing

2 Mins read
3.7

Pips Alert invites you to join its increasing community of traders from across the globe by getting trading ideas from them. As a consequence, you can supposedly find better setups in Forex. The team will send the signals to you in a Forex standard format. You can then use them to trade currencies and commodities such as the EURUSD, gold, etc. 

Pips Alert trading strategy

The Pips Alert team fails to indicate what formula it uses to pick out signals for trading. This puts the trading community at a disadvantage. As such, traders can’t know if the strategy fits their needs, what rules it follows, or even if it is effective or not. 

Pips Alert backtesting report

We couldn’t find a backtest report for this service on the sales pitch. Rather, we came across some videos illustrating how the professionals conduct backtests on the signals in the live market. They also advise that you double-check each signal by backtesting it with your broker.  

Pips Alert live results

The company doesn’t share the live trading results of the signals either. Its performance in the live market is hence unknown. 

Some features of Pips Alert

Total returnN/A
Maximal drawdownN/A
Average monthly gainN/A
DeveloperPips Alert Limited Liability Company
Created, year2019
Price$59.95, $59.99, $49.99
TypeN/A
TimeframeN/A
Lot sizeN/A
LeverageN/A
Min. depositN/A
Recommended depositN/A
Recommended brokersAny
Currency pairsN/A
ECNN/A

The other features of the service are listed below:

  • Can trade on any account size and be entered on multiple accounts
  • You start receiving the signals immediately you are done subscription
  • Holds signals for 24 hours, 48 hours, or even up to a week for long-term groups 
  • Depending on the package, the team will send 3-7 signals daily per group
  • Signals are dropped during the New York and London sessions
  • Offers a free training course on entering signals and management

Main things to consider if you invest with Pips Alert

You need to take the following factors into account if you are thinking of investing in this service: 

Lacks live trading results

Though the vendor has included a ‘performance’ page on the official site, it doesn’t showcase the signals’ performance in the live market. We also searched for these stats on Myfxbook but could not find any. 

No strategy insight

As mentioned earlier, the professionals don’t disclose the method they apply to determine which signals to pick and which ones to ignore. It is not known if their decisions are based on technical or fundamental analyses or both. 

Unsatisfactory vendor transparency

We are informed that Pips Alert was founded by 2 traders. Currently, the team has expanded to include other traders in the US, Tokyo, the UK, Canada, and other countries. Unfortunately, the names, qualifications, or experience of these traders are not in the public domain.  

Pricing details

Pips Alert offers multiple packages for traders interested in their services. In this regard, they have Investor X Signals, Venture X, and Jaguar Signals that go for 59.95, $59.99, and $49.99, respectively. The first two packages provide 15-20 signals weekly and promise to deliver 1.5-3.5k worth of pips monthly. The last plan supplies 10-15 signals per week and supposedly earns the user 1k – 2.5k Pips/m. A 14-week paid trial is available for traders who would want to see how the services work before subscribing to any plan. 

Other notes

Pips Alert has received a lot of positive reviews on Trustpilot. One trader admits that Investor X has been a good addition to his day trading analysis. It gives him ideas on how the market is. However, we found one trader who says that the signals don’t give real profits, and once you backtest the signals, a big drawdown is generated. 

User reviews on Trustpilot
User reviews on Trustpilot

Pips Alert Summary

3.7
Pips Alert has a good rating on Trustpilot, a sign that it is reliable. Through the company’s free Forex course, you can learn how to enter and manage signals in your account. Yet it’s disconcerting that the company has failed to open an account on Myfxbook all this while. This is something they can do anytime to help traders track the performance of their signals.
4.0

Functionality

5.0

Reliability

2.0

Strategy

4.0

Price

2.0

Trading results

5.0

Vendor transparency

Pros

  • +A free Forex course is included
  • +Positive feedback from clients

Cons

  • -Lack of backtest report and live trading stats
  • -Trading strategy is undisclosed
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