Pip Academy Review: Scam Automated Trading?
Welcome to the Pip Academy review.
Pip-academy.com is yet another website offering managed accounts through copy-trading.
In their marketing materials, they claim that clients can finally trade like a hedge fund as they’ll make money even in their sleep.
Among the things they promise are 100% automated trading, 24/5 up-time in their servers, dedicated account managers, 15% monthly return and zero upfront commission or fees.
Furthermore, Pip Academy is claiming that they have a 15 years track record in trading.
They suggest that they’ve been researching, analyzing and studying the market to gain an edge. They believe that passion and dedication can help them achieve stable returns.
Pip Academy also wants their clients to know that their success is a result of risk management.
In fact, they’re more than willing to show the community their “track record” as this is repeated throughout the website.
However, Pip Academy has not disclosed who the traders are or even provided basic ownership information for their website or company.
In addition to this, we have no idea where their headquartered at. We believe that this information is always the first step to gaining the trust of investors.
What happens when a company decides to hide the identity of the people associated with their website?
That’s a question we’ll answer in the next few paragraphs of this Pip Academy review.
We’ll seek to know whether their alleged 98% win rate is for real because so far, this claim sounds far-fetched.
Pip Academy Review
You might think that Pip Academy is a trading educator’s website. However, this is not the case because the company’s marketing materials suggest otherwise.
Nonetheless, it’s an interesting website offering automated trading or managed accounts on behalf of their customers and making them feel excited by claiming to return 15% per month with no losses.
In fact, the promotion materials in the sales page of Pip Academy website is very tempting. 15% monthly returns on a consistent basis must be a very reliable way of multiplying wealth.
However, we also need to answer a few questions before we can dive in. After all, the minimum deposit of $2,000 is not a very small amount to gamble with.
We see that they’re allegedly using an automated trading robot which is then connected to clients’ accounts on the MT4 platform.
They claim that their trading robot is very intelligent, a claim which is not very sufficient to compel traders to invest in Pip Academy managed account.
In addition to this, they claim to accept payments in both USD and Bitcoins, which means that Bitcoin trading is also in the cards.
Before we do or say anything, we need to focus on their trading strategy because this is the only way a professional trader can determine whether the trading strategy is safe and reliable or not.
Trading strategy of Pip Academy automated system
The website of Pip Academy does not have simple pages like FAQ. However, they do have a section where they explain how everything works in their website.
These are nothing more than basic steps to signing up and getting started with their automated trading system.
Nowhere on their website did they mention their trading methodology or strategy yet this is one of the crucial things a vendor like Pip Academy can use to persuade investors.
We’re beginning to see a trend where trading system providers are not disclosing their strategy to their clients and reasons are never clear.
Some of them think this is not important while others do their best to disclose what they do, albeit providing statements that sound gibberish.
When a trading vendor cannot disclose this information, it immediately takes away our confidence, consequently reflecting in their ratings every time we do or update their reviews.
Thankfully, there’s a myfxbook account (we will ignore back testing results) because they’re not relevant in 2020.
This myfxbook.com account is called PIP ACADEMY (Managed Acc 260MM) and the trading account is live and hosted with a broker called Fibo Group.
We can see that overall gains (as at the time of writing this review) is +32.36% while absolute gain is only +16.5%.
When you see this disparity, it usually means that part of the profits don’t come from the market and the growth is partly due to the vendor crediting their trading account.
This gives the impression that the account is growing but remember that a trader’s profits should come directly from the market, not from their own pockets.
If this was a managed trading account where funds from various clients are pooled and traded together, this scenario would have made sense because as new clients come in so are new deposits.
But this is not the case with Pip Academy since they’re running a copy trading system and clients are remotely connecting to it from their “slave accounts”.
Therefore, the additional deposits we see are definitely coming from the vendor himself, which is a sign that they want to deceive traders by creating the impression that the account is growing at a faster rate.
Also, Pip Academy claims that they’ve been around for the last 15 years. In another part of the website, they claim that they’ve never made any losses in the last 3 years.
We can’t prove this claim from their myfxbook.com because their live trading account was created in October 2019.
We find it interesting that despite having an account balance of 1200 Bitcoins so far, only 0.04 lots are being traded (as at the time of writing this review).
Because the vendor is always crediting their account balance, this interferes with other metrics of the account such as monthly returns, draw down and so on.
Therefore, although this is a live account being tracked by myfxbook.com, we’re unable to establish the truth in the numbers presented therein.
Pip Academy reviews/customer feedback
Apparently there are no reviews from customers who have used this service before.
We expected to see dozens of customers talking about their experience with Pip Academy but that is obviously not the case.
The only “reviews” we can find are on their official website. You know this is fabricated work and there’s no way to prove their authenticity.
Pip Academy won’t make it into our list of recommended trading resources for the simple reason that despite it being a professional website, there’s no transparency.
We’re waiting for the vendor to correct their mistakes before we can update this Pip Academy review appropriately.
Thanks for reading this Pip Academy review and we hope you’ll provide your feedback if you’re a customer or have used their service before.