PipHiker EA is another automated trading software developed by the iForexRobot team. Advertised as one of the most popular expert advisors in 2018, the developers claim that this grid-hedging robot can take risks while still protecting your trading account from big market waves. Considering we are nearly 3 months into 2019, the developer should probably update their verbiage, and no longer refer to this robot as a 2018 software. This makes it come across as a product that hasn’t been updated in a while.
iForexRobot and the iForexRobot team are now considered a scam. Be very careful and stay away from this scam artist.
This expert advisor is a product sold by the iForexRobot group, which is owned by PlanInvest. A company run by Sebatian van Hilten, located at Raadhuisstraat 24, Amsterdam, NL. We first came across this company in 2017, and it’s quite apparent that they’ve continued to release new products since. To get in touch with the support team traders can email firstname.lastname@example.org or call +44 20 3239 5772 and +359 24518410.
PipHiker EA Review
The PipHiker EA explanation isn’t a verbose, but it does give the community a decent insight into their trading strategy. They describe it as a grid trading system with an additional hedging feature in order to mitigate potential losses. Running on the M1 timeframe the robot will look to trade “long and short at the same pair at the same time.“
As for the entry rules, the software utilizes the RSI and MACD indicators in order to determine potential trade targets. There is no real explanation as to how these indicators are being utilized, or what type of role they have in the overall makeup of their trading strategy.
Flash Crash Concern
With a grid traders, and hedging systems one of the main concerns is always the potential of a flash crash. While most systems will take a large hit and survive, robots that use grid trading strategies tend to blow up accounts entirely.
This is certainly a concern with the PipHiker as the vendor tells the community that if a “trend keeps going strongly for 500 pips or more without any correction this EA can experience some Drawdown.” Some drawdown is likely putting it softly, as from our analysis, we believe that this robot would not survive a flash crash.
So, while these type of events happen rarely, you have to be aware that if it does happen, your entire account capital would be at risk.
- Type: Forex Robot
- Price: $299
- Strategy: Grid / Hedge
- Timeframe: M1
- Pairs: EURUSD, GBPJPY, AUDNZD
Going for $299, the PipHiker EA requires a leverage of 1:400 or higher, and a minimum account size of $1500. Traders can also access the software by signing up with their preferred a broker, so the vendor gets paid and commissions from your trading account instead of a one time fee. Generally, you would want to keep those commissions to yourself by taking advantage of a Forex Rebate service.
In terms of trading results, the PipHiker EA group provide us with a single FX Blue account which has been running for nearly 200 days. This account is showing a total return of 87%, with the largest drawdown coming in at 65%. This is a significant drawdown, and really lends itself to the flash crash concern we had earlier in the review. There is obviously significant risk in trading the software, but for traders looking for an aggressive 13% monthly return, many will look the other way. This aggressive approach is seen in many other EA’s we’ve recently reviewed including RoFX and Forex Evolution.
The software opens 3.3 trades per day, with a trade length of 2.7 days and it overall winning percentage of 72.5%. The average win picks up 9.15 pips, and the average loss drops -12.78 pips, which makes for a workable risk reward ratio.
The results are exactly what they are, they are risky but effective thus far.
The iForexRobot team doesn’t hide the fact that the PipHiker EA is a risky trading software. They are more than willing to provide their live trading account results, and live with the consequences. The system is viable, as long as there isn’t a crash. So, if you are willing to risk your trading account, you can certainly win pips fast, but there is always the potential of a devastating loss.
If you have anything you would like to add to the review, please leave your questions and remarks below the article now.
PipHiker EA $299
- Trading Results
- Client Feedback
- Customer Support
PipHiker EA is a Forex robot with a very high risk approach, being marketed by shady vendors.
Flash crash concern
I stand to be corrected, a refund in BTC was done after a chat with somebody else from iForexrobot. Can I hereby ask for the previous comment to be deleted.
Agree. Received a call from +359889000751 offering copy trading with guaranteed 10% profit per month and money back guarantee. French accent person asking me to deposit $3000 with axitrader. We settled on a $100 cent account at Roboforex and a copy trade of their account running Skygrid ea. The pairs they were trading have never been profitable except eurnzd. A very dangerous trategy and way of trading and after 1 month the account blew after me telling them that it would right from the start. Needless to say that when it came to refunding the $100, the BTC transfer they would do never came and the communication stopped. One big scam and very bad traders.