In today’s rare Saturday review, and taking a closer look at a signal service that provides betwen 2 to 10 forex signals per day, Max Pip FX. According to the sales page, the signals counted for over 3200 pips in profits just last month, and this is normal for the type of performance they expect. In my analysis, I’ll take a look at their trading results, the way they approach the marketplace, and any client feedback that’s currently available.
There is no information about the signal providers, and who they are but I was able to find some information they doing a whois search on their website. From this information we can see that the owner of the service is Julien Detouche, located at 24 Rue Paul Vaillant Couturier, Neuilly Plaisance, France. Despite claiming to have been providing signal since 2011, the WHOIS information also shows that this website has only been active since 2014. Support can be contacted via the contact form on their website.
Max Pip FX Review
The sales page tells us that the Max Pip FX signals are coming from a “professional trading team,” that all use a specific precision method to provide traders with high quality opportunities. As I mentioned above, there is actually no information on who these traders are. So, while we are being told that they are professional trading team, there is actually no proof, or way that we can validate their qualifications. When dealing with Forex robots, this is not as important, but when it comes to a signal service with an actual trader is providing the signals, it’s important that we know who the trader is, and what type of trading experience they have.
In terms of strategy, the developers claim that their trades are based on the economic calendar. Outside of this, there is no real explanation that sheds lights on their different methodologies and trading approaches.
I would like to know much more about how the signal providers generate trades, and the type of traders that we are relying on to send us these trades. This is common with other signals providers I’ve recently reviewed like WeTalkTrade, and AndyW LTD.
- Type: Forex Developer
- Price: $99/month
- Strategy: Economic calendar
- Timeframe: All
- Pairs: All
There are currently 3 plans available for traders to purchase in order to access the Max Pip FX signal service. The one month plan cost $99 per month, but it traders register for 3 months they can get a 10% discount, and another 10% discount on top of that if they order 6 months. So you can essentially pay $89 per month, or $79 per month depending on how long you sign up for the service in advance.
Each package comes with all the major pairs, SMS notifications, email notifications and access to the support helpdesk. There are no differences between any of the plans, outside of pricing.
There is a live trading results section, which can be accessed at the top of the Max Pip FX sales page. On this page, we see a trading statement with 1525 winning trades, and 7 losing trades. Over this period of time, the account is showing a gain of over $725,000.
While these numbers are extremely impressive, this page could easily be modified and edited to suit the needs of the vendor. It’s very possible that these results are 100% fake.
My recommendation for this trading team, is to upload this trading statement to Myfxbook or FX Blue, so that it can be verified. As of right now, I don’t see how we can truly put our faith in these results. They also tell us that they provide 2 to 10 signals per day, and this doesn’t add up with the trading statement. So, I do wonder if they are just not showing us the losing trades.
The type of winning percentage they are boasting, definitely comes across as a too good to be true type scenario.
There are both positive and negative comments about the Max Pip FX service, so it’s difficult to know who is telling the truth. One of the comments is quite telling though, as they did in-depth research on the trading results, and can show that they have had drawdowns of over 500 pips.
This is obviously a dangerous trading approach.
At this point in time, I’m not going to be signing up with the Max Pip FX signals. There are certainly aspects of the website that I appreciate, but I do believe that they have a ways to go in terms of transparency. I won’t be signing up with the service until they start providing verified trading results, and give us much more information about the signal providers and the type of strategies that they are utilizing in order to determine signal quality.
Thank you for stopping by, and please let me know if you’ve anything you would like to add to the review now.
I think the idea with this service is to understand that the realized profits exceed the drawdown of the open trades. They trade support and resistance (not verified). You will get an alert by email or text (text not verified). They alert you with an entry price (could be late) no exit. They will send the alert to exit days weeks or months later (could be a few hours late).
I think it is better to interpret this service differently. You can have an open trade that is left open long…and get a trade in the same pair short. So you will need a sub account also…one for longs and one for shorts.
Interpret this service like a flow remover. You are going to float unrealized P/L while exiting some trades with a profit during the ride.
The traders that can understand what this system does and can live with the negative float can realize a greater profit,. comparitively. Rarely, this system adjusts its float by exiting for a loss…look at that USD/JPY trade in the published results.
So just letting things ride and no worry about direction can really change the way you look at trading and treat this system like a money machine.