Forex Pip Shooter asks to trade on your behalf. According to the vendor, all you need to do is to install it and wait for the profits. The system is free from emotions, so it won’t make wrong decisions for you. It also capitalizes on the creative technology Pip Shooter by scanning the market constantly, opening and closing positions many times daily.
A lifetime license for Forex Pip Shooter is €800. With it, you can trade 1 live or 1 demo account. Other available features include free updates, 24/7 customer support, and installation files. A refund policy is not available.
Forex Pip Shooter trading strategy
This system works with three distinctive strategies. First, we have advanced analysis technology. This entails patiently applying well-regulated trading parameters to obtain profits from the market trend while securing your profits. The second one is the pip shooter technology approach. This monitors the market to identify possible trend inversions, and once spotted, the EA dynamically controls the trading parameters to optimize the profit potential of every trade. The last method is known as average execution speed, and it takes advantage of small spread operations implemented with precision and speed. So, the system quickly adjusts the trading parameters to also adapt to highly volatile markets.
Forex Pip Shooter features
This EA has a variety of features, which we have listed below:
- It is totally automatic.
- It is compatible with the MT4 platform.
- The execution speed is average.
- The system offers 24/7 rapid customer support.
- It supports different currencies, including AUD/CAD, AUD/CHF, AUD/JPY, AUD/NZD, AUD/USD, CAD/CHF, CAD/JPY, CHF/JPY, EUR/AUD, and many more.
- Key to Markets is the recommended broker, but the EA is also available for the following broker partners; TopFX, Klimex, and TrioMarkets.
- It works on any timeframe.
- A minimum deposit of $1000 is recommended for real accounts.
- It is paramount that you leave the PC/VPS on always to ensure it is connected to the internet 24/7.
Forex Pip Shooter backtesting results
Backtesting results for this robot are not present. We need to see how the trading strategy plays out using historical performance. Then, we can predict for how long it can sustain a trading account.
Forex Pip Shooter live trading results
This is a real EUR account hosted by the IG Markets brokerage. Its track record and trading privileges have been verified. The account was deployed on December 9, 2020, and up to now, the EA has only made a profit of €219.87. So, in more than a year of trading, the system has not succeeded in returning the capital invested. Based on the income earned, we estimate that the robot makes about $16 in a month. Fortunately, the strategy used is low-risk, going by the drawdown made — 7.33%.
The average trade length is 4 days, which tells us that the robot isn’t very active. So, it has only carried out 154 trades. Both win rates for long (75%) and short (70%) are not extraordinary. And from the average win (49.90 pips) and average loss (-59.38 pips) values, it is clear that the system has higher chances of losing trades than winning them. The profit factor is 2.22.
The robot made small monthly gains all through 2021. October was the only unproductive month with a loss of -0.27%.
The EA stayed for long periods without trading. This means that it loses out on many opportunities to earn income for the user.
Forex Pip Shooter reputation
The vendor of this robot is anonymous. The devs don’t introduce themselves or reveal any information about their professional background.
Customer reviews are also absent. We searched popular Forex verification sites like Trustpilot, Forex Peace Army, and Myfxbook with the hope of finding client testimonials, but found none.
Forex Pip Shooter review summary
- Strategy – 3/10
- Functionality & features – 6/10
- Trading results – 4/10
- Reliability – 3/10
- Pricing – 2/10
Forex Pip Shooter trades on many currency pairs, is easy to use, and offers customer support. But the system is quite expensive and the profits made are small and do not match this cost. Moreover, it can stay for months without trading hence denying the user the opportunity to make profits from the market.
