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EA Review: Forex Pips Plus

Today I’m looking at two new EA’s, the Trend Multiplier Robot, and the Turbo Robot Profit Maximizer by Forex Pips Plus. The creator of these systems claim to be “your partner in automated trading” because they provide multiple expert advisors that are thoroughly tested to ensure profitability.

It is unknown who the developers of these robots is exactly, as this information is provided on the website. We are provided with a physical address of the company headquarters though, which is 26, Jalan Kekabu 7, Batu Maung Penang Malaysia. This address clarifies many of the grammatical issues found throughout the website, as the developer of the system is clearly from a non-English-speaking country. In order to get in touch with support, traders can email the of the contact form on their website.

Forex Pips Plus Review

The Forex Pips Plus website consists of the sales page, the frequently asked questions page, the contact us page and a thorough tutorial on how to set up an EA in MT4. There are a handful of aspects the developer wants the community to be aware of when considering their expert advisors. They tell us that no experience is needed, set up takes less than 10 minutes, they provide full support and a free trial is available to traders who want to test the system before deciding on the full version.

There isn’t much to go on in terms of strategy, but we are told that the Trend Multiplier Robot uses a “built-in margin management and mathematical algorithm.” This system focuses heavily on hedging trades, to ensure positions are open on both sides of the marketplace. It is likely, that this EA utilizes grid trading tactics.

The Turbo Robot Profit Maximizer EA is built upon a structure of complex scalping, hedging and martingale methodologies all mixed into one. Generally, when martingale strategies are mentioned, I’ve run in the other direction. It’s possible that this is a viable strategy, and hopefully they can prove that by showing us some results, which I will be analyzing and the results section of this review further down. These EA’s come across as a little less professional than my most recent reviews of Pure Alpha, and Pirate EA.

Breakdown

  • Type: Forex Robot
  • Price: $25-220
  • Strategy: Scalping, Hedging, Martingale
  • Timeframe: Undisclosed
  • Pairs: EURUSD, GBPUSD, USDJPY, AUDUSD, USDCAD, USDCHF

The price range for the Forex Pips Plus expert advisors fluctuates greatly because they offer 3 month rentals for $25 and $49, depending on the EA you are interested in. Trend Multiplier Robot is the cheaper of the two robots, as it’s priced at $99 for a lifetime license, or $25 for a 3 month trial. The Turbo Robot Profit Maximizer is priced at $220 for a lifetime license and $49 for a 3 month trial.

The vendor also provides a 30 day demo or live trial for zero dollars. This is one of the first vendors I’ve ever seen offer a trial that works on a live trading account.

Trading Results

Despite decent information when it comes to strategy, and many different elements being covered by the Forex Pips Plus, the trading results section is extremely underwhelming. At this point in time, we are being shown in equity graph the comes from the bottom of a Forex back test. Yet, this back test image uses a poor modeling quality of only 89.92%, and there’s really no proof that this image was even created by these products.

These are some of the worst trading results I’ve seen in 2018.

This vendor clearly needs to upgrade this aspect of the product before we can take it seriously. There might as well be no results, because the results being provided aren’t proven are quantified in any way.

Conclusion

As of right now, I see no reason why anyone would want to sign up with the Forex Pips Plus systems. With no real trading results, and all of their competitors providing trading results, they are more than a step behind the Forex marketplace. Obviously, you can test out the free trial of this system to see how it works on your own, but if the vendor can’t provide results, then why do we have to do their job for them. They should have to prove that their system works, before bringing it to the marketplace.

If there’s anything you would like to add to this review, please leave your questions and remarks below the article now.

About Patrick Ryan

Patrick is a Forex enthusiast, with over 10 years of experience in finance, and market analysis. He's eager to help traders achieve their investment goals, whether they are short or long-term. Patrick's penned thousands of reviews, and is always available to discuss trading with anyone who's interested.

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