Siphon X is a new EURUSD trading robot by the Trading Strategy Guides team. The purpose of the software is to provide “massive profits” without having to study charts or even sit at the computer for extended periods of time.
The developers have back-tested the expert advisor thoroughly, and believe that the software has the potential to grow accounts 1%-2% per day, 3%-7% per month or even 80% in an entire year. Today, I will be providing a complete review, analyzing the sales page, trading results, price, strategy and anything else of value.
The robot is created by TradingStrategyGuides.com, a well-known developer launched in 2016 that’s produced a handful of trading products. Their most popular service, is the Strike Trader Elite Forex indicator which aims to provide accurate trading signals.
For support access, traders can email email@example.com or call (724) 374-8352. I have not tested the phone number to see if they answer, so if you want to do that and leave a comment below, I would appreciate that.
Siphon X Review
I have to say, the developers did a great job marketing the Siphon X robot by putting a countdown timer up a few days ago to generate interest. I knew the first thing I would do this morning is take a closer look at the service, and see what they have to offer.
The sales pitch is based around the expert advisors’ overall ease of use. Traders can use the robot to “haul in incredible profits while letting the system automatically make trades for you” or traders can “manually use this strategy to make profits quickly while still cutting down the time you spend working to find trades.”
In this trade example above the Siphon X software picks up a winning trade of 70 pips. The software easily recognizes a bullish trend, and grabs an easy win that takes about 15 hours to secure.
The developers use this trade example to explain that their robot only requires a 60% win rate in order for it to be profitable. They use an “explosive Risk Reward system” that ensures trades don’t have to win over 90% of their trades to be successful.
The Siphon X EA is built to trade exclusively on the EURUSD pair, relying on effective money management to grow accounts with an average win rate of 60%.
Surprisingly, despite having a sales page made up of thousands of words, there really isn’t much detail about the actual strategy. They do provide ample trade examples, but don’t have an easy walkthrough of the trade approach.
This is something they offer traders after purchase, as the robot comes with a training video, a guide, and the manual strategy can be purchased on its own for $49.
In this trade example, we can see that the Siphon X robot picked up 45 pips in just a few hours. This example is trading the H1 timeframe on the EURUSD pair. In looking at all of the examples, I can see that the bot trades multiple timeframes.
It’s apparent that the software is using the Relative Strength Indicator as part of their overall strategy to determine momentum in a technical analysis approach.
Siphon X Analysis
- Type: Forex robot
- Price: $49-$149
- Strategy: Technical analysis
- Timeframe: Multiple timeframes
- Pairs: EURUSD
For traders interested in purchasing the Siphon X EA, it’s available at a special launch price of $149 or $49 for just the strategy. The $149 package comes with the strategy guide, a training video, the robot, a software guide and access to unlimited updates. The training video shows exactly how to use the software, and the guide does the same but in PDF form.
Traders who don’t like automated trading can still purchase the manual trading strategy for $49. At this price, traders get access to the trading strategy guide that shows traders “exactly how to trade the strategy that the Siphon X System uses.”
This is something that you rarely see in the Forex robot marketplace as developers are generally more focused on the automated portion of their strategy. It’s definitely a unique offering, and something nice to see.
The majority of the Siphon X robot presentation is very professional, and impressive, but the trading results aren’t there just yet.
At this point in time, the developers are not providing any verified trading results with Myfxbook or FX Blue. Providing accounts on either of these statement sharing services is pretty much market standard in 2021.
The presentation relies heavily on images of backtests, and trade samples. This is more of a sales page that you would see for a Forex indicator, or maybe a signal service, which does make sense as the TradingStrategyGuides.com team are well known for their indicators. Yet, in order to compete in the Forex robot market, verified trading results are a must.
Even the backtests they discuss on the website aren’t provided either, as they only show images of those backtests. This means that they can be easily manipulated, as we don’t have the true detail of the test. I don’t believe that’s the case as this is a well known developer, but they are certainly lacking in this area and they will be rated accordingly.
While I like the majority of the Siphon X robot presentation, I do feel that they have a lot of work yet to be done. In order to completely win over the Forex Robot Nation readers, they will have to provide some sort of verified trading results. It is the vendors responsibility to prove that their software is viable before I decide to run tests on it myself, and the same goes for our community.
I am not going to say that this isn’t a viable product, or that it’s bad in any way. I will say that we need to see more before we can consider running it on our best Forex robot testing accounts.
If you have anything you would like to add to this Siphon X review, please leave your comments and remarks below the article now.
- Client Feedback
Siphon X is a Forex robot built for the Metatrader platform that picks up winners exclusively on EURUSD charts.
Specific trading strategy
Can be traded auto or manual
Affordable pricing options
Well known developer
No verified trading results
Not known for their trading robots
Limited strategy insight