EA Review: Forex Pip Shooter

Forex Pip Shooter is a new Forex robot that’s built on advanced analysis technology with average execution speed “for quick snad safe trading.” The developers of the software believe that traders to frequently let their emotions get in the way of their trading, which is why they believe their expert advisor is the perfect solution. They are programmed it specifically to make correct technical analysis predictions and seize all market opportunities available.

The developers provide no information about their whereabouts, or their trading/developing history. Generally, we prefer some sort of information in this area, as it gives us much more confidence when we know who the traders behind the system are. In order to get in touch with support, traders can fill out a contact form website. No direct email address or phone number is provided.

Hopefully more information about the developer is provided in the near future after they see that the community is requesting it.

Forex Pip Shooter Review

According to the sales page, the goal of the Forex Pip Shooter “is to link different trading styles together to minimize the risk and to provide a constant monthly gain.” They spell constant wrong on the website, but we have fixed it for the sake of the review. The system is built to trade in 20 different Forex pairs simultaneously while utilizing breakouts, rebounds, correlations, support and resistance.

The vendors also tell us that a very low spread is required in order for the system to work properly, which leads us to believe that there are some scalper properties to the strategy as well.

It’s a good sign that they provide us some sort of insight into their trading strategy, but the methodology is still quite a bit vague and unproven. Overly, the system truly can complete effective advanced technical analysis as the vendor claims that it can. That there is more strategic insight here than in other recent reviews we’ve completed, such as Stunning EA and AI Global Markets.

Profit Calculator

The Forex Pip Shooter vendor provides a risk calculator that is supposed to determine the profit per month. Traders can enter their deposit, lot size, click calculate and then see what type of gain they can expect.

As far as we are concerned, this is just a gimmick, and that there is really no reason to put any faith in these numbers. They only benefit of this table, is that it provides a suggested lot size based on your deposit, so you have some sort of expectation when you first start.

Robot Breakdown

• Type: Forex Robot
• Price: $299
• Strategy: Multiple
• Timeframe: Any
• Pairs: 28 Forex Pairs

The vendor claims that the Forex Pip Shooter can be utilized on 20 different Forex pairs, but in the frequently asked questions section they tell traders to use it on the EUR/USD pair exclusively.
We would appreciate some sort of clarification as to why this is the case.

The robot costs $299 and can be ordered through the JVZoo payment processor.

Another notable aspect we should add to the breakdown, is that the vendor as a relationship with the Klimex Capital Markets broker. They tell potential clients that it is necessary to use the brokerage if they want to have the desired results. They do tell us that we can use our own broker, but it doesn’t have all the exact same characteristic as Klimex, that is likely will not work correctly. This is a very limiting aspect, so be aware of this before you place in order.

Trading Results

Despite having an extended sales page, the Forex Pip Shooter team does not provide us any trading results. This is really quite a surprise, considering they promise certain profit numbers in their calculator. They really shouldn’t be promising any numbers, that they are able to prove them with some sort of trading account. Yet, they don’t even provide a simple trading statements on the entire website.

This is obviously a concern, considering almost all of their competitors do provide Myfxbook accounts, and in order to qualify for the best Forex robot page, it’s required.

In doing additional research, we did come across a trading account using their expert advisor, on their recommended brokerage. This account is showing a loss of nearly 20%, with a 27% drawdown. These numbers are quite disappointing, and the account is fully verified, which is disconcerting.

The trading results are poor, and are certainly not in line with the expectations set by their profit calculator.

Conclusion

At this point in time, we see no reason to recommend the Forex Pip Shooter. While the website is professional, the vendor certainly needs to work on their trading performance for this product is ready to be utilized by traders in the market.

If you have anything you like to add to the review, please leave your questions and remarks now.