Siphon-X is another robot that was designed by Trading Strategy Guides. The company is well-known as a scam-like firm that has never used its EAs to make profits on their own. To remove the veil, we’ve prepared a Siphon-X review.
The “strategy” is sold in two versions. The robot, based on it, costs $149. As we can see, it’s a special launch offer, and the pricing will be increased soon. The package includes automatic trading software, Siphon-X strategy, free upgrades, and updates, backtest reports, and, of course, support.
Now, we can check what’s behind the package and its pricing. The strategy guide can’t cost any money because you must provide a guide for free of how everything works. Pricing for a single training video of $997 is out of place. We know many educational sites where there are approximately 60-100 videos for unlimited access for $300. The robot usually costs more in design because $1497 equals only 30 hours of the EA’s developer work. There’s another guide for $497. It sounds weird and awkward at the same time when they try to convince us that’s for real.
There’s only a strategy pack for $49. It looks like a BUY/SELL indicator for EUR/USD. Among the MQL5 BUY/SELL Indicators, we can easily find that type of the Indicators but for every single symbol in the terminal for from $40 to up to 80$ for a copy.
The vendor forces us to share all our personal information, including card data. Even if they don’t sell it to a third-party company, someone can easily steal it.
Siphon-X Trading Strategy
- It works based on opportunities that are spotted by checking the RSI indicator.
- Usually, the trend strategy is based on the data received from RSI (8) or RSI (14) depending on the chart where this data is collected.
Siphon-X Features
The presentation is awkward and flooded with useless wording. There’s hard to find some useful information about the robot’s performance. All spotted features, we’ve grouped up in the list below:
- The robot can work with only a EUR/USD currency pair.
- We can use the software in any time frame we want.
- We’re allowed to use the robot with any currency pair, but Siphon-X is the most effective with EUR/USD.
- We can run the robot on the Metatrader 4 and 5 terminals.
- It works automatically.
- The winning rate is only 60%. We couldn’t find proof of this claim.
- We’ve got only cut backtest reports. So, we can’t check this statement.
- Of course, the developers noticed that we could make more profits on EUR/USD, but they just said about win-rate that’s only 60%, not 70% or 80%.
Siphon-X Backtesting Results
We have only two cut apart screenshots of backtest reports. The developers removed tables where we’d be able to check the gain, spreads, slippage, win-rates, drawdowns, win-streak, and so on.
Siphon-X Trading Results
It’s a pity that the developers shared only two fake screenshots instead of trading results. First, the EA wasn’t attached to the chart. The proof of this we can see in the top-right corner – there’s nothing. By the way, there are no arrows that the system opened and closed trades on the proper bars. There are no under the chart sheet with trading results. It means they didn’t make money using this EA, and they had no proof.
Siphon-X Reputation
The company has a scam reputation because they don’t provide anything in the presentations, having flooded people with many-page wording.
The site includes many positive testimonials. Don’t be surprised because they’re fake. First, there’s nothing about trading results, pips, gains, and so on. The service is several months old and has the Launch Price. It’s suspicious because there’s no feedback on Forex Peace Army or Trustpilot.
Siphon-X Review Summary
- Strategy – score (2/10)
- Functionality & Features – score (2/10)
- Trading Results – score (2/10)
- Reliability – score (2/10)
- Pricing – score (2/10)
Conclusion
Trading Strategy Guide couldn’t convince us that this service is good to go. The main reason is a poor presentation that lacks much important information like strategy, money-management, risks, settings explanations, backtest reports, trading results, real people feedback. We weren’t surprised because we know that it’s their style of selling the products. We’d like you to stay aside from it.
