FX Profit Pips is a Forex signal provider promising accuracy of 80-90%. It generates live signals for multiple Forex pairs and as per vendor claims, trading with these signals can help you become an expert trader. We cannot simply trust the words of the vendor, however, which necessitates a thorough analysis of the system’s performance.
FX Profit Pips: characteristics
This signal provider sends you Forex signals via SMS, email, and WhatsApp as per your preferences. It also sends a duplicate backup signal in case the first one doesn’t work out. You get notifications when there is a buy or sell opportunity, if the order needs to be exited early or late, or if the order gets modified.
FX Profit Pips closes all its orders on the same day by 12:30 PM. If the market makes an unexpected movement, it may close them early. The vendor provides 24/7 support via email and 24/5 support via live chat. There are 56 trading experts working for this company, who are responsible for generating the signals. With each trade, the signals specify the stop loss and take profit levels.
First, the Forex analysts will send the signal to the admin group of the signal provider, after which the admin team will split and transfer the signals to the client support team. After this, the support team will immediately send you the signals.
Currency pairs, strategy & timeframe
You can use FX Profit Pips for getting live signals for gold, as well as pairs involving NZD, AUD, CAD, GBP, EUR, and USD. On the official website, we don’t have any technical information related to the trading strategy.
The vendor has not explained what kind of technical analysis the experts use for generating the signals. Seasoned Forex traders always look for some kind of strategy insight and they will take this as a huge red flag. We don’t know what timeframes are compatible with this system, which prevents traders from deciding whether it is suitable for their respective trading styles.
FX Profit trading performance
A reliable vendor is expected to share the trading statistics for their systems on third-party websites like Myfxbook, FXBlue, or FXStat. For FX Profit Pips, we have the results presented in a tabular format showing the type of trade, pair, time, take profit, stop loss, and status. This is not a proper way to present the trading results, as it prevents us from analyzing the different performance aspects like profit factor, win rate, drawdown, etc.
All of the trades presented here have been closed in profit. This is quite unrealistic since even the best signals providers suffer the occasional loss. We think the vendor does not wish to reveal the true performance of this system, which raises some questions about its reliability. It is highly likely that they have manufactured these results.
Backtests are important for automated systems because they reveal long-term performance. These tests are carried out over a long time period, thus exposing the system to various market conditions. Since this is a signal provider and not an expert advisor, there are no backtesting results for it.
How much does it cost?
FX Profit Pips has 4 distinct pricing plans that vary in terms of the number of tradable instruments and profitable pips. The prices for the Starter, Standard, Premium and Pro plans are $10, $29, $49, and $50, respectively. With the Pro plan, you get access to a personal manager and automatic trade execution. If you wish to receive a refund, you can drop an email to the service team.
Reviews from customers
We were unable to find any customer reviews for FX Profit Pips on third-party websites like Trustpilot, Forexpeacearmy, Quora, and Myfxbook. Without user reviews, we can’t tell whether many traders have benefited from the services of this software. It seems this signal provider does not have much of a reputation as of now.
Should you use FX Profit Pips?
|Affordable pricing packages||No verified trading results|
|24/7 support||Lack of strategy insight|
|Lack of vendor transparency|
FX Profit Pips is a signal provider you should avoid at all costs. There is no verified proof of this system earning profits in the live Forex market. The vendor is not transparent about the live results and has presented manipulated data to mislead traders. Moreover, we know very little about the trading strategy this system uses.