Welcome to PipBolt review.
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Pipbolt is a robot developer claiming to be the best source of Forex robots for MT5.
They claim that their Forex EAs are designed for flexibility and security and are “easy to use because they’re from traders for traders.”
They want the trading community to believe that PipBolt Forex EAs are designed by highly skilled programmers with many years of coding experience.
At this point, they’re starting to sound like computer programmers rather than actual traders.
A good programmer cannot become a good trader but a good trader doubling up as a programmer can make the best expert advisors such as the ones we’ve listed here.
Pipbolt automated trading tools are also optimized to trade various instruments like Cryptocurrencies, stocks, Forex, Dax as well as energy and precious metals.
The developer appears to have worked really hard and we’re not sure why they’re offering their products for free.
Perhaps they want to capture the market to grow their fan base before charging any license fees in the future.
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Nevertheless, we felt Pipbolt website was really interesting and an analysis of their automated trading tools would suffice.
Their website does not disclose ownership information.
We have no idea who these developers are as well as their location. If contacting them, traders can use the email email@example.com.
This website is a typical sales page listing features and benefits of their products.
Unlike other developers creating products for MT4 trading platform, Pipbolt focuses on MT5 products only.
They want the trading community to know that their automated trading products feature the following benefits:
- Security: Forex trading robots work properly so that your portfolio cannot be exposed to risks
- Quality: Pipbolt Forex robots are coded with experienced programmers with years of experience
- Flexibility: Forex robots can be adjusted according to any trading style
- Assets: All trading instruments including DAX indices
- Broker: Trading products work with brokers who have MT5 platform
- Time-independent: 100% automated trading 24/5 days a week
These are very generic reasons to give when promoting a Forex robot.
But Pipbolt has done a good job at providing free trading tools just in case some traders are interested in testing their products.
The downside is that you can’t use their products in a live account as the risk of losing funds can be very high.
If they were quite efficient, I believe Pipbolt would not be offering them for free.
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Pipbolt trading strategies
The developer claims that their Expert advisors are integrated wth advanced money management mechanism and feature the following:
- High slippage protection
- Fully customizable
- Fully automated and easy to use.
These expert advisors come with very basic indicators for trading.
Actually, they’re just automated indicators which do everything for you.
Some of the indicators offered in these expert advisors include Ichimoku, Bollinger bands, MACD, Moving Average Cross, Parabolic SAR, RSI and many more.
Trading indicators are designed for technical analysis trading and can work well if the trader has some experience analyzing the charts.
If automated, it would mean that the Forex EA is lacking the intelligence needed to correct the problem of lagging indicators unless it has some sort of in-built AI system.
Out of the box, I don’t believe these automated indicators from Pipbolt can win trades over the long term.
In fact, that’s why I insist on learning how to trade if you want to become a successful technical analysis trader.
Using basic indicators such as the ones offered by Pipbolt won’t provide an easy way to make money from the financial markets.
The bottom line is that these indicators or Forex EAs cannot be compared to premium automated trading systems which are already optimized for best performance.
Trading results of Pipbolt Forex robots
Pipbolt does not offer any sort of past performance, probably because their products are free to use and they don’t feel the need to go the extra mile of providing a point.
It would have been better if the vendor demonstrated the performance of their automated trading tools because this way, traders can have an easy time deciding whether or not Pipbolt tools are worth using.
Lack of a myfxbook account connected to any of their MT5 trading tools shows that the vendor is not serious at all.
If they want to boost credibility, they should certainly put their money where their mouth is by providing proof of successful trading.
The good thing is that Pipbolt Forex expert advisors are free to use, it won’t cost us anything.
The downside is that Pipbolt is losing credence based on their method of presentation.
It’s interesting to see that this website was created in 2017 but despite that, we can’t find a single feedback from users of these free Forex robots.
Maybe some people have used these EAs before but didn’t feel the need to provide any feedback since they got the EAs for free.
Either way, this part of our review isn’t important because the Forex robots provided by Pipbolt are free.
Since this website offers free trading tools, traders who can commit their time can download and use them on their MT5 trading platforms.
However, positive results should not be expected from free trading robots provided by this developer.
Furthermore, traders using Pipbolt products should be prepared to optimize and try finding the right strategy and pairs for achieving consistent results.
If you have the time to commit, you can head to the website and download the products.
If time is a major factor and all you care about is finding an automated trading product with reasonable returns, go to this page.
Thanks for reading this Pipbolt review. We are looking forward to your comments.
One Response to
This bot executes 3 times at best, after thorough configuration to have acceptable drawdowns. Executed a lot of 2.45 when set to 0.5. Use with caution.