Forex Robot ReviewsPassive Income

Forex Pip Shooter Review: Is It Wise to Hand Your Trading Over to This EA?

2 Mins read
3.8

Forex Pip Shooter uses advanced strategies to ensure high profits. As per the vendor, this FX robot Is Metatrader 4 compatible and is 100% automated. The vendor claims that the MT4 tool can lower the risk and boost your returns with its smart analytic process. In this review, we have carried out a detailed assessment of Forex Pip Shooter to check the veracity of the vendor’s claims. Our analysis includes the functionality, performance, support, and other characteristics of the robot.

Forex Pip Shooter company profile

We could not find info about the company on the official site. Other than the mention of the domain copyright for 2022, there are no company details like year of foundation, location, the experience of the developer team, phone number, etc. The lack of company info shows an absence of transparency that raises doubts about the dependability of the product. 

The highlights of Forex Pip Shooter

The key features of the FX robot that give it an edge over its competitors, as per the vendor are:

  • It uses the pip shooter technology which provides quick, safe, and profitable trading.
  • A smart algorithm helps in generating accurate analysis for high returns.
  • This FX robot uses a pip accumulation method that adapts to trader requirements and risk.
  • It uses several approaches to ensure maximum diversification that helps in safe trading.
  • An average execution speed is present that capitalizes on small spread trades with speed and accuracy.
  • It works on 28 currency pairs and uses any timeframe. 
  • The vendor recommends loading the software on the EURUSD pair. 
  • A minimum deposit of $1000 with a 0.1 lot size is recommended by the vendor.

Facts & figures with Forex Pip Shooter

We could not find backtesting results for this FX robot. However, the vendor provides a real live EUR account using the IG Markets broker. The account verified by the myfxbook site uses the leverage of 1:500 on the MT4 platform. Here are a few screenshots of the results:

Growth curve of Forex Pip Shooter on the Myfxbook site
Growth curve of Forex Pip Shooter on the Myfxbook site
Trading stats of Forex Pip Shooter on the Myfxbook site
Trading stats of Forex Pip Shooter on the Myfxbook site

From the above stats, we can see a total return of 26.99% and an absolute profit of 24.18%. The daily and monthly profits are 0.05% and 1.59% respectively. A drawdown of 9.34% is present. For deposits of €1,001, a profit of €242 is present. The lot info is hidden in the account which raises doubts that a high-risk may be present. A total of 165 trades have been executed since the account began in December 2020. Profitability is 73% and the profit factor value is 2.28. While the low drawdown indicates the approach is not risky, the hidden lots info raises suspicion on the reliability of the system.

Forex Pip Shooter packages

You can purchase the lifetime license of this EA for €800. The package includes the software, a reserved area that has tutorials for installation, launch, and settings of the ATS, 24/7 support, one live or 1 demo account, accurate trading, and regular updates. No money-back-guarantee is present which raises doubts about the dependability of the product. When compared to the market average, we find the pricing is very expensive.

Assistance

For customer support, the vendor provides an email address, an FAQ section, and an online contact form. A reserved area is present for providing guides for setting up the system, installing and launching it, and other aspects of using the FX robot.

Other notes

Unfortunately, we could not find user reviews for this FX robot on reputed third-party sites like Trustpilot, Forexpeacearmy, etc.

Is Forex Pip Shooter a reliable system?

From our analysis of this MT4 tool here are the main factors we found that influence its reliability:

  • The absence of company details like founding year, developer team info, location, etc. shows a lack of vendor transparency.
  • No backtests are present and real trading results show hidden data concerning the lots and lot sizes used for the trading.
  • There is no money-back guarantee for the product.

Forex Pip Shooter Summary

3.8
Forex Pip Shooter assured high profits with its advanced strategies.While verified trading results are present, the stats do not show an effective performance.Further, there are no backtests to understand the strategy and its efficacy. Our evaluation reveals several downsides like the lack of vendor transparency, the absence of a money-back guarantee, and hidden lot information.
6.0

Performance statistics

1.0

Reviews from customers

6.0

Ease of use

4.0

Implemented strategies

2.0

Pricing

Pros

  • +Fully automated
  • +Verified trading results

Cons

  • -No vendor transparency
  • -Hidden info in trading results
  • -Expensive pricing
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