FX Profit Pips provides live Forex and commodities market signals. The signal vendor is also advertising a success rate of between 80% to 90%, which is very high and somehow unrealistic.
If clients do not wish to receive trading signals but would like to utilize the services of fxprofitpips.com, they can use the vendor’s managed account or copy trading service called Pro Plans.
FX Profit Pips also provides very cheap Forex and commodities market signals as the basic plan costs $9 only and promises to deliver 50 to 70 pips guaranteed.
Traders who subscribe to FX Profit Pips service are told that their payment will expire only after the promised pips have been attained.
They are basically looking at success based on the pips acquired as opposed to the size of lots traded as well as the risk and reward of trades.
FX Profit Pips’ signals covers 12 Forex pairs and 4 commodities. Signals are delivered via whatsapp, SMS or published on their website.
Those who think this service is worth trying should read this FX Profit Pips review because we’ll be analyzing this signal and copy trading service professionally, thus bringing to your attention things that would never occur to your mind before trading with them.
FX Profit Pips review
The vendor is not disclosing their location, trading background or the people who analyze the market for them.
They only claim that FXProfitPips is managed by some 56 expert traders who work in 11 countries.
The question is who are they and for how long have they traded the Forex and Commodities market?
This information is very important and every signal vendor must disclose their trader’s profile for us to verify whether or not they’re qualified to sell signals or manage investors’ funds.
Their website is also advertising free live Forex signals and claiming that their TP is often 20 pips while stop loss is 40 pips away from entry.
They want the community to know that 90% of their trades close on the same day in profit.
This can sound like a favorable thing to traders who don’t want to incur broker fees for holding trades at night. However, we also need to think the other side of the coin.
The first thing you must understand is that FX Profit Pips has a poor risk reward ratio.
A good risk reward ratio ensures that for every $1 that we’re risking in the market, we must be able to take that risk if we’re going to make $2 or more.
If we practice this risk reward ratio consistently, overtime our accounts will grow even if we have many losses in between.
But with FXProfitPips.com’s style of money management, just one or two losses can make our accounts go back to where we started.
However, the website also states that they’ve closed every trade in profit in the last 2 years, a statement that is quite difficult for us to believe.
Trading strategy of FX Profit Pips
They’re not disclosing their strategy at all. However, they claim that their Forex analysts trade gold, eur/usd, commodity Forex signals, GBP USD, USD CAD FX signals.
They also want traders to know that before signals can be dispatched, they are analyzed by 6 Forex analysts, then sent to a team of 12 analysts who split those signals before sending them to client support.
Client support is in charge of making sure every trader receives signals from FXprofitpips.com.
Even if we do not know their trading strategy yet (which would have been very crucial in the creation of this FX Profit Pips review), we at least know how they manage risk and we’ve also figured out that their risk management is quite poor.
FX Profit Pips review: what does this signal vendor offer?
They’re offering 3 signal plans and 3 copy trading plans respectively.
The 3 signal plans cost $9, $15 and $25 respectively.
The first plan promises 50 to 70 pips. The second plan promises 100 to 120 pips. The third plan promises 200 to 225 pips.
These are guaranteed pips. The signal vendor claims that even if their signals loss, they immediately send extra signals to recover the loss.
But that is what professional traders call revenge trading. It will instantly ruin your account because in that case, you will not be making rational decisions anymore.
All of these plans provide 8 Forex signals and 4 commodities signals through Whatsapp and SMS.
Signals are delivered with take profit, stop loss and entry price. Stop loss can be revised as well.
Support is provided 24/5, and they also claim that traders will only pay again after the guaranteed pips have been achieved.
Now, for the managed accounts, FX Profit Pips requires a minimum deposit of at least $1000, $5000 and $10,000 depending on which plan one chooses.
FX Profit Pips is going to trade metals, energies besides Forex and commodities. Profit share is 30%, 20% and 10% respectively (depending on the plan you choose).
They’re also going to execute both short and long term trades.
There are other features that distinguish these copy trading account plans. For instance, the Pro basic pack works with one VPS only.
The Pro professional pack works with separate VPS while Pro business pack clients are offered 2 high end VPS.
They also claim that Pro basic pack users will receive monthly trading statement while Pro professional pack members receive weekly trading statement.
Those who deposit $10,000 and above are entitled to receive it every day.
We thought it is the right of every investor to receive their trading report any time they request it. Putting such kind of restriction on an investor is not very professional.
At least FX Profit Pips is not restricting traders to their brokers as traders can choose any broker of their choice.
The other difference is that with the basic plan, 1 team will trade a client’s account. In the second and third copy trading plans, there are 2 and 4 teams respectively.
In addition to this, Pro business pack users have access to 2 senior account managers while the other two have one senior account manager respectively.
This is yet an unfair advantage that a professional signal vendor wouldn’t want to advertise their service based on.
We’re disappointed at how FX Profit Pips is delivering trading results. They’ve published their supposed trading results for the last 4 years but this website was founded in August 2018.
The reason we prefer that results must be published on a statement sharing platform like Myfxbook.com is to avoid doubts and ensure that there’s maximum transparency.
In this case, we believe that FX Profit Pips is lying about the numbers. Those figures have not been independently verified.
We know that vendors can upload any figures on their website to attract customers. This is what FX Profit Pips has done.
FXProfitPips customer reviews
This vendor has not attracted any testimonials or reviews from clients anywhere on the internet.
It has appeared on FPA forum but no one has commented on them at all.
So this means they don’t have clients yet. If you found this FX Profit Pips review and are a client, please do not forget to leave your review below this post.
We cannot recommend a signal and copy trading service like FX Profit Pips for the obvious reasons. They’re not transparent and they are obviously lying to the community in many instances.
Next thing we want to do is hear from any client who has utilized their signals or copy trading service.
Thanks for reading this FX profit Pips review.