Forex Pip Shooter claims to improve your results with its special pip shooter method. This automated system is simple, fast, and safe to use as per the vendor. It works on the Metatrader 4 platform and uses different approaches to reduce the risk and boost the returns. It works on all currency pairs. There is no info present on the company, its founding year, team members, and address. The lack of info makes us doubt the reliability of the company and the profit potential it boasts of. For support, the vendor provides an FAQ section, an online contact form, and an email address.
Forex Pip Shooter: characteristics
The key characteristics of the FX EA that the vendor claims give it an edge over its competitors are:
- It uses multiple trading approaches to increase annual returns and limit the risk.
- The FX robot works on all 28 FX pairs using rebounds, breakouts, and correlations.
- Any time frame can be used for this FX expert advisor.
- A minimum of $1000 is recommended with a lot size of 0.01 and an increase in the lot size after you have adjusted to the strategy used by the EA.
- A fully automated design is present that does not need any manual intervention and eliminates the risk of errors.
- The ATS uses a complicated and successful algorithm for advanced technical evaluation using market parameters of hyper-controlled type.
- This MT4 tool opens positions daily hence a VPS and a stable internet connection are required.
Continuous scanning of the market to open and close orders multiple times per day is the main working method of the EA. It profits by only a few pips each time but with multiple traders, more returns can occur resulting in safe and high profits.
Currency Pairs, strategy & timeframe
As per the vendor, the MT4 tool uses consolidated approaches like hedging, breakout, spread trading, and more to ensure safe and guaranteed profits. It uses advanced analytics for systemic and profitable operations. The pip shooter method helps to identify possible trend inversions and regulates the parameters to increase the profit potential of every trade. An average execution speed used in the strategy exploits the operations with a small spread carried out with speed and accuracy. It regulates the parameters to adapt to volatile markets.
Forex Pip Shooter trading performance
No backtesting results are present for this FX robot. A real EUR account verified by the myfxbook site is present on the official site. Here are a few screenshots of the results.
From the above stats, we can see a total return of 21.73% and an absolute return of 19.95%. A daily and monthly return of 0.05% and 1.49% respectively. A drawdown of 5.85% is present for the account that started in December 2020. The initial deposit is €1,000 for which profitability of 73% is generated for 147 trades. A profit factor of 2.17 is present. The information on the lot size and lots used are hidden which raises suspicion on the money management method used. Further, the growth curve also shows plenty of highs and lows indicating an average or below-average performance.
How much does it cost?
To buy the lifetime license of this FX robot, you need to pay €800. The package includes the EA license, a detailed guide for the setup, installation, and use, 24/7 support, one real/demo account, and regular updates. When compared to the market average, we find the price is expensive. Further there is no mention of a money-back guarantee, which raises doubts about the reliability of the system.
Reviews from customers
Unfortunately, we could not find feedback for this FX robot on reputed third-party sites like FPA, Trustpilot, etc.
Should you use Forex Pip Shooter EA?
Our assessment of the various characteristics of this FX robot reveals that the system has positive and negative aspects that can influence your buying decision. The pros and cons we identified are shown in the table below:
|Works on all currency pairs||Lack of vendor transparency|
|Verified trading results||Real trading results have hidden data|
Forex Pip Shooter claims to generate an annual profit of 7 euros for a deposit of 10,000 euros. While the vendor provides info on the features and the strategies used, we found a few drawbacks that can affect the performance and your capital. The lack of vendor transparency, hidden lot information, expensive pricing, and the absence of a money-back guarantee are shortcomings in the expert advisor that you need to be careful about if you are interested in buying the MT4 tool.