Pips Alert is a Forex signal service provider that promises to earn you thousands of pips monthly. The company alleges the signals made a total of 80000 pips in the last one year, and to date, it has 3200 satisfied members. Furthermore, 43 countries across the world utilize these services.
Pips Alert was founded by 2 traders from the United Kingdom and the U.S. However, we are not told who these traders are. So, there is no way of confirming their identities or reputation in this market. Moving on, the team has expanded to include more traders located in other countries like Tokyo, Canada, and other parts of the world.
Pips Alert: characteristics
The signals service features the following:
- Sends 3-7 signals daily per group depending on the membership package.
- Includes free training courses.
- Holds average signals for 24 hours, and at times, for 48 hours.
- Sends signals during the London and New York trading session.
- The signals offered include an instant entry or pending order, stop losses, and targets for take profit
- Signals are sent through SMS, email alerts, desktop/browser notifications, and android app.
- There are no limits or minimum amount needed to trade the signals. You can trade on a $50 account and up to whatever pleases you.
Currency pairs, strategy & timeframe
The company says it trades currencies and commodities, meaning EURUSD, GOLD, etc. It is not clear which timeframe is applied because this info is not provided.
The devs don’t disclose the strategy they use to select trading signals either. It is always good practice to inform traders about the trading strategy. This way, they will know if that conforms to their needs. The knowledge can also influence them to have some confidence in the service.
Pips Alert trading performance
The company’s stand with regards to backtesting is that past performance is not a guarantee of future performance. However, weekly video series where the team puts the signals to test with 3rd party backtesting are provided. It would be more convenient for the company to showcase a detailed strategy tester report for traders to assess the parameters one by one. As a result, they can have a clue on what to expect in the long term in case they decide to subscribe to the services.
The vendor displays a screenshot illustrating how their signals have performed in the live market. The problem is that the data is unverified. So, it is easy to question its authenticity.
According to these stats, the signals generated +100 pips for the EURUSD pair. Nevertheless, the signals used to trade the GBPJPY symbol were unprofitable. The data above is not comprehensive enough. It doesn’t highlight other important trading metrics like the deposit, drawdown, profitability rate, trading frequency, and win rates, etc.
How much does it cost?
This signal provider offers 3 different plans that cost between $49.99/m and $59.99/m. If you subscribe to either Investor X Signals or Venture X packages, you will receive 15-20 signals per week. The team guarantees that these two offers will earn you about 1.5-3.5k pips monthly. Being the cheapest, Jaguar Signals offers the least number of signals — 10 to 15 signals/week. This pack can supposedly help you to earn 1-2.5k pips per month. A 14-day trial is available. You are advised to test the signals on a demo account first before purchasing any of the aforementioned packs.
Reviews from customers
Pips Alert has received both positive and negative reviews from customers on Trustpilot. It has an average rating of 3.3, which means that people love and hate it in equal measure. Some traders say that the signals are not bad at all, and the team gives ideas on how the market is. The disgruntled traders reveal that the signals don’t generate real profits, and if you backtest them, they can generate high drawdowns. Therefore, the service can make you lose a lot of money.
Should you use Pips Alert?
|Free training course offered||No verified live trading results|
|A 14-day trial is available||Strategy is undisclosed|
|The signals can generate huge losses|
|The development team is anonymous|
Pips Alert offers a 14-day trial that allows you to test the signals before you risk real money. A free training course is also available to teach you how to trade the charts. Even so, you have to be cautious with this service. We have learned from customer feedback that the signals can be ineffective and cause large losses. Although the devs promise huge returns, they don’t have verified results to back up this claim.