Siphon-X is another service of Trading Strategy Guides. The company is known as a scammer that doesn’t provide reliable robots to customers. The EA is introduced as the software that can siphon profits from the EUR/USD currency pair.
Siphon-X: Characteristics
- Siphon-X trades fully-automatically on the MetaTrader 4 and 5 platforms.
- We haven’t seen any viable backtest report that would prove these statements.
- The system trades fully-automatically for us.
- The EA’s win-rate is around 60%.
- It looks like a Hypno session. We’re sure that the best symbol to make money is USD/CHF. Everything is personal.
Currency Pairs, Strategy & Timeframe
The presentation is wordy and useless. Few important questions were answered. The product looks like another scam.
- The robot trades the EUR/USD currency pair.
- It works on many time frames.
- It uses an RSI technical indicator to spot trading opportunities.
- We can trade other pairs as well.
- It seems like it tries to scalp in a trend direction with a Grid of orders. From the “backtests,” we know that there must be Martingale because we’ve seen these recovery periods.
Siphon-X Trading Performance
The presentation is featured by two screenshots of “backtests.” If even they are real ones, just look at these huge, consistent, drawdown periods that were recovered with, most likely, insane Martingale. 65% of the account gain for one year is completely little as for an aggressive Martingale system.
The devs said that these deals were traded but this is a lie. It’s only a photoshopped screenshot and nothing more.
The same we have here. There’s no proof that this deal was traded on at least a demo account. It’s a scam. As we can see, there’s no badge in the top-right corner.
How much does it cost?
The main price is $149. There’s a 30-day money-back guarantee. The pack includes support, updates, backtest reports, live calls, and VPS recommendations. So, this robot requires VPS and probably an ECN account in addition.
There’s a simple rule. If you see the pricing like it means that’s a fraud company and a scam service. They try to sell us a robot that costs $1497 as they want. It doesn’t cost even $50 because of no backtests and trading results at all. There’s a video that costs $997. The pack of 30-50 educational videos usually costs $300.
The strategy only pack is available for $49. So, the BUY/SELL indicator costs $49.
To complete an order, we have to check out at the site, providing them our card details.
Reviews from customers
There are many people’s testimonials, but all of them are fake because this presentation and EA are just several weeks old. There couldn’t be that many customers and testimonials. Therefore we can’t trust them as well as the vendor who decided to deceive us by writing these positive people feedback on their Siphon X website.
Should You Use Siphon-X?
| Pros | Cons |
| No pros | No team revealed |
| No strategy explanations provided | |
| No money-management advice provided | |
| Good-for-nothing and wordy presentation | |
| No backtests provided | |
| No trading results provided | |
| Scam-like forming of the final price | |
| Fake people feedback provided |
Conclusion
Siphon-X is another scam EA as many others from Trading Strategy Guides. The company didn’t surprise us at all. They focus on scamming upcoming traders, selling them unverified and bad-designed products. The presentation is almost 50-page long, but we don’t even know what strategies the EA uses. According to these backtest reports, the EA consistently lost money and tried to recover. Recovering means using aggressive Martingale. It’s so risky because this requires much margin and a good win-rate.
XTB
