Forex Pin Trading System Review
Forex Pin is a trading indicator backed by myfxbook.com results that show 2 months of trading only.
Developer claims they have Forex Pin EA which uses AI technology to generate signals.
We like their honesty when they say novice traders should not purchase this trading system.
On the other hand, we would like to give them time so we can observe the performance of their system for the next 6 months.
In the meantime, we recommend these trading products because they’ve passed the 6 month test in their myfxbook accounts.
FX Tech Group Ltd owns Forex-pin.com. In addition to this, they own several other trading product and websites such as Forex-Signals.online and Agimat-Trading-System.com.
This market scanner is also promoted on a website called pipbandits.com.
It’s not clear whether pipbandits.com is associated with FX Tech Group ltd or not.
This Forex Pin Review examines the statements made my the vendor to let you know whether or not they are true.
Forex Pin is a trading indicator and the first statement we find on the sales page is that it’s a Forex trading scanner dashboard for all times which does not repaint.
The buy and sell signals are generated by artificial intelligence deep learning using neural networks.
The vendor also claims that Forex Pin is a patented technology, hence it is written as Forex-Pin™.
In addition to this, Forex-pin.com is offering an automated Forex robot known as Forex Pin™ speculative sentiment EA.
One-time license fee for this EA costs a whooping $674. This covers:
Installation services on your VPS
Forex Pin™ SSI EA updates
Email support 24 hours a day and a lifetime license
They claim that this EA has been tested with LQDFX broker and is the only broker that can guarantee same results as the one we see in the provided myfxbook.com account.
Nonetheless, we’ll be reviewing both the indicator and the Forex Pin EA to ascertain the truth.
Forex Pin Review
We start this Forex Pin review by discussing the trading indicator before we can talk about the EA.
Most of you must have noticed by now that the website has a lot of information about the products they sell.
They are also selling a VPS called Agimat VPS which I will not talk about today.
The vendor claims that this Forex indicator delivers a few signals in a day and is not for traders who want to scalp the market, taking as much as 150 signals every day from lower time frames.
There’s also a fair warning from the developer which says “if you don’t have experience with Forex trading, please don’t purchase this tool because you won’t stop complaining.”
So there we go. Any trader who wants to use this tool but has not attained the skill of trading should not use this indicator.
This is also the first time that I am seeing a vendor being as honest and transparent while pitching.
I’ve done reviews for indicators such as Xtreempoint but did not see this transparency.
This is even a more honorable thing to do than to lie like managed Forex account providers running a cash cow called Forex92.
Apart from the regular Forex pairs, the Forex pin indicator can also produce signals for instruments like Crypto currencies, metals and even stocks like Apple, Google, Intel etc.
Traders can select their time frames and add more instruments for trading. The installation process is apparently very quick and easy.
Forex Pin Review: Claim that the indicator is equipped with AI technology
They claim that the FX Tech Group Ltd has built more than 5,000,000 data points since the year 2016.
They claim to have an edge over others because most neural networks have up to 400,00 data points on average.
They believe that a deep learning artificial intelligence mechanism is as good as the data you feed it.
So that is why they have hybrid tensorflow model which runs on data centers located in America and Asia.
They claim that their AI is highly accurate for taking trades with 15 to 40 pips profit.
For better accuracy, the vendor even wants traders to combine the use of Forex Pin with Agimat FX.
How the combination between Forex Pin and Agimat FX work
The Agimat FX indicator produces a yellow box with an arrow. When this arrow is produced together with another arrow from Forex Pin trading system, it means market is approaching support and resistance.
A trader needs to scroll to the left to mark support and resistance zones.
Next, trader must wait for candles to reach support and resistance zone. At this point, they need to wait for the white arrow from Agimat FX indicator to place a trade.
It appears that best results is achieved when trading 1H, 4H or daily time frames respectively.
What it costs you to acquire Forex Pin trading system
The cost of Forex Pin trading system is $174. This is a lifetime license. It gets you installation on two demo broker accounts or live accounts.
Free updates and 24 support are also given.
Trading history or performance
After all has been said and done, it is time to review trading performance just to see whether this developer did put some serious work into their trading systems.
Their myfxbook account shows an overall gain of +39.59% and an absolute gain of +28.39%.
This basically means the vendor deposited money into this trading account more than once.
The purpose for crediting a trading account in this manner is always to push the figures higher and create the impression that the account is doing well.
Instead of waiting for the markets to return profits with the use of their trading system Forex Pin, the developer is just crediting the account once in a while.
Monthly return is currently at 12% while draw down is 19.26%. This was announced in advance. The developer says draw downs of up to 19% should be expected during the holidays.
This broker account was created in 2nd of September 2019. This is two and a half month’s trading result but we needed at least 6 months of trading to a sure conclusion.
Trading performance for the Forex Pin system is not bad but we need a much lengthier sample of trading data.
We’re also not sure whether this trading indicator was used together with the Forex Pin EA and Agimat FX system to achieve these results.
This question should be answered by FX Tech Group Ltd group.
Before I forget, the Forex Pin EA is basically an SSI indicator. I don’t know how this is supposed to be superior than other EAs in the industry.
So once the above concerns are addressed, we can hopefully consider adding Forex Pin EA including the trading indicator into our list of recommended trading resources.