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Pippy Signals Review: Is this a Scam Trading Service

Pippy Signals Review: Is this a Scam Trading Service

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Pippy Signals is not a Forex trading signal service but an automated trading robot. We do not know why they chose this name but it gives the impression that they are selling a signal service. With a name like this, you would certainly think that they are providing signals, but that’s not the case. This is truly, an MT4 expert advisor that claims to “just make accounts grow!”

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The developers of the software are Melanoid Marketing. There is no real information about this group, outside of the name of the company that appears when you click to purchase via PayPal. Outside of this, all we know is that the domain was registered on December 24th, 2017. At the time they registered the domain, they probably weren’t sure if they were going to provide a signal service or a robot, but here they are. In order to get in touch with support, traders can email, [email protected] Try these products first.

Pippy Signals Review

The creators of this product highlight 6 aspects which they believe are very important for all potential clients of Pippy Signals to know. These aspects include that it’s an automated trading system that requires no trading knowledge, and guarantees daily profits from the Forex market. Also, they claim to be Myfxbook verified (not true), have managed accounts on a secure server and offer a “2 weeks free trial.”

Pippy Signals Strategy

There is very little strategy discussion at all, when it comes to the Pippy Signals robot. There are a bunch of generic statements about the benefits of automated trading, but nothing in real detail.

They do tell us that the robot is a scalper, and also hint that it has martingale elements as well. As they claim that “even when it loses a trade, it wins the lost amount back and more on the very next trade.” Martingale can be a very dangerous approach. Especially when the vendor is providing very little detail. In order to qualify as one of the best Forex robots, they will have to revamp this section of their website completely

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More details about the Forex robot

This Forex robot trades EURUSD pair only. The developer also tells us that the trading strategy is based on scalping and Martingale strategies. The time frame in which it scalps has not been mentioned but most likely we should expect something that is lower than the 4 hour time frame charts. After the two week free trial, the Pippy Signals expert advisor costs $499, which is a very large price tag. One that is much higher than most reputable systems in the market. In order to qualify for the 2 week trial, traders are required to provide direct access to their trading account, which doesn’t seem safe.

At this point, you need to decide whether you are comfortable with the idea of letting these guys trade your live account using this robot. If they can trade your demo, that will be fine. But again 2 weeks is a very short period of time. No one can fully test the capability of a trading bot in 2 weeks. We need at least one or two months for us to ascertain the true capabilities of this software.

Trading Results for the Pippy Signals robot

The vendor provides a single Myfxbook demo account. Despite claiming that it’s a verified account, it is not. So, as it stands, there is no Pippy Signals verified account.

The account they do provide is showing a 172% gain, and a 42% draw down since January, 2019. During this period, the robot has traded 141 times for a grand total of just 71 gained pips.

The average win is 4.14 pips, and the average loss is 29.97 pips, so the risk reward ratio is definitely in line with a scalper. This does work, as long as the win rate is high, which in this case it is with a win rate of 89%. The average trade length is 4h 33m which is a little long for a scalper, but it seems to be working on this demo account.

There hasn’t been a single trade on the account in nearly a month though, which is definitely something we will be keeping an eye on, moving forward.

Should you purchase this robot after testing?

There are a lot of things concerning this bot that we really don’t like. First, the strategy is not a what most people use to make money in the long term. If you are a professional trader, you cannot scalp and practice martingale for a very long time because you will eventually kill your account. The chances of this happening in the next 2 weeks is like 95%. So this means that the robot is not going to be useful in the long run. If you have to try this, let the trial be practiced on a demo and not on a real account and secondly, we would like to request these guys to extend the trial for a period of 30 days because 2 weeks is a very short time to make a conclusive judgement.

Secondly, we think the price point is something of a concern. Pippy signals pricing is not good and we doubt whether traders will be willing to pay the ultimate price of having this robot’s license. It would take a lot of persuading to convince buyers that this bot is the best when there are good robots out there that cost half the amount.

Our best advice for you

The Pippy Signals robot isn’t the most popular system, and to be honest, we aren’t sure where we came across it. That, in addition with the lack of strategic insight, are a couple of reasons why we aren’t sure about the service. It’s also quite odd that traders have to provide complete account access, and that’s definitely not something we recommend. The results are okay, but they aren’t verified, and there are no live results. It’s hard to pay $500 for a product the vendor isn’t willing to invest in on their own. If you want to make money, stick to these products. 

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