Today I’m taking a closer look at a Forex signal service promising a 90% accuracy rate, and a 100% satisfaction guarantee, Sky Pips. The developers of the service price themselves in the quality of their signals, and the innovations that allow them to provide their signals via multiple platforms. According to the sales page, they are currently able to provide “real-time Forex signal SMS alerts on any phone in over 200 countries.”
Owned and operated by SKYPIPS FX COMPANY LIMITED, their head offices are located at Yasamal, Sharifzade 241, AZ1012, Baku, Azerbaijan. Although, in doing a search for this address, it comes up as the location for the Delta Telecom telecommunications service provider. So, either the developers of this service are making a mistake, or they are giving us the wrong address purposely. Either way, this is not very professional at all. To get in touch with support, traders can email email@example.com.
Sky Pips Review
The creators of the Sky Pips FX signal service claim that their goal “is to improve financial trading experience by providing experience-based, and analysis oriented, informed and, most importantly, profitable trading signals to subscribers.” While the grammar isn’t perfect, it’s easy to comprehend the gist of this goal, and see that this is the type of approach most signal providers should be employing.
While they don’t provide us with any information about their background in the Forex trading marketplace, they do provide details regarding their analytical approach and overall trading methodology. They believe that with their approach, they should always be earning an average of 500 pips, with the lean months coming in at a minimum of 100 pips.
As for their trading style, they focused on short intraday trades, and medium-term ranges. They believe that this approach is “in line with today’s dynamic and rapidly changing market conditions as well as subscriber preferences.” Most Forex signal services avoid long-term trades, which we can see in my recent reviews of Spy FX, PipPhenes and Pips Alert.
- Type: Forex Signals
- Price: €200 – €350
- Strategy: Fundamental/Technical Analysis
- Timeframe: All Timeframes
- Pairs: 18 Pairs
For traders interested in the Sky Pips signals, there are currently 2 options available. Traders can sign up for the application package for €200 per month, or the standard package for €350 per month. There doesn’t seem to be many differences between these 2 packages, except that the standard comes with alerts via SMS and email. I assume this means that the application package requires traders to receive all signals through the website, which would likely make trading very difficult.
Sky Pips Analytical Methods
In order to provide traders with signals, the Sky Pips team approximate their blend of strategies to 30% fundamental analysis, and 70% technical analysis. In using this approach, they rely on financial news, industry reports, chart formations, trend analysis as well as analytical tools.
In terms of the tools they utilize, they tell us that they focus on traditional indicators, chart formations, correlation analysis, regression analysis and an expert advisor that they’ve personally coded to use as an “additional confirmatory tool.”
The Sky Pips performance page can be filtered by currency, month and year, going all the way back to 2013. In looking at the past couple of months, June showed a profit of 316 pips, May showed a profit of 502 pips, and midway through July, the signals are showing a profit of just 38 pips.
While I appreciate the fact that the developers are providing us with some sort of trading results, there’s really no way for us to trust the results are provided, considering that they are not verified by any third-party website. These results could easily be modified by the developer, and with that being the case, I strongly suggest that they put their trading accounts on Myfxbook, if they want to be taken seriously.
I’ve only been able to find two reviews from clients so far, with one being a 2 star rating, and the other being a 3 star rating. Both of these reviews are quite negative, and offered no rebuttals from the company itself.
The most impressive part of the Sky Pips website is the information they provide regarding their trading methodologies. I appreciate how transparent they are in this aspect, but at the same time I am disappointed by their lack of transparency in terms of trading results. The client feedback is also a negative element, so I’d like to see a much more positive outlook and verified trading results before I get involved with this signal service.
Thank you for reading this review, and please leave any questions or remarks you may have below the article now.