Welcome to the Blue Pips review. Bluepips.com is a Forex signals and trade copier service that believes in providing 70-80% win rate trading signals. They are offering a range of products on their site which are geared towards addressing the needs of both the hands-on and the busy trader.
Blue Pips is selling an algorithm trading software for a whooping price of $997 and telling their clients that this software will win 70% of the trades it enters.
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In their marketing materials, Blue Pips is suggesting that all their prices have been slashed to make the products a little more affordable.
For example, their algorithm trading software was allegedly retailing for $4,999 but now it is $997.
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We don’t believe that this software was once sold for that much, and every trader who comes across such a website must know that this is just a marketing tactic to get customers buying.
So in this Blue Pips review, we will go through the products offered by BluePips, their features and whether or not they can be relied upon.
Blue Pips offers a smorgasbord of trading products. The vendor is unknown, so we may not be able to establish what their trading experience is so far.
However, there is a myfxbook account which tells us that testing of their algorithm software/signals started in January 2018.
We might use this as a clue to gauge when exactly this vendor might have launched their operations into the Forex signals marketplace.
The assortments of products on sale from Blue Pips are as follows:
For the signals service, the vendor claims that they will send 1-5 signals per day, and these signals generally have 70-80% win rate.
Claims that there are 500 pips per month to be netted. The signals are 100% algorithmic.
Signals are sent out via BluePips Telegram channel. For the trading software, clients are promised access to indicator files, strategy and charts, premium support, compatibility with Windows and iOS platforms, lifetime updates, webinars and mentoring among other things.
This vendor offers a range of services but their ”top-tier products” come with a steep price.
It is therefore important that one must conduct due diligence before forking out hundreds of dollars to acquire any of the software which they are selling.
Although Blue Pips does not give us any information concerning their trading background, they make an attempt to explain how their algorithm trading software works. We will quickly provide an overview of what they said.
The software is basically plotting highs/lows based on a variety of time frames. Buy and Sell stops are placed around key areas in what they call Z pattern trading approach.
The vendor believes that when prices comes to these areas and fluctuates, it will ultimately make a decision, and that’s when Blue Pips algorithm trading software will execute buy or sell stop orders.
The success rate of the algorithm trading software is allegedly at 70%. We’d like to confirm this through past performance just to see if there is some truth in this figure.
And of course Bluepips is promising maximum corporation in terms of support. They are providing installation videos and promising to guide you all the way unlike companies that sell and let the customer struggle on their own.
Since there is a wide range of products on offer and the name of this vendor is suggesting that they are after providing pips, one may think that they are exclusively into providing Forex trading signals.
So this is a summary of what they offer:
We appreciate the fact that this vendor is providing a myfxbook account to prove that they are preaching water and drinking it.
This is certainly better than most services we have reviewed here like Euro Scalper Pro, Forex Kore EA, Signal 2 Forex and many more.
This account was started in 2nd, July 2018. So you can imagine how little sample of data this is to work with.
It is just over a month old. The account is however showing a gain of +28%. This is a demo myfxbook account for your information.
The vendor started trading this demo account with a balance of $5,000. The growth curve is looking shaky and we are afraid that it won’t hold the uptrend for a long time.
Since it is only 1 month old, we can’t say for sure if things will look the same way, say 6 months from now.
We also don’t know why this vendor is using a demo Myfxbook account if they truly believe that their trading strategy has an edge and is generating up to 500 pips a month. Remember that a good broker is a factor to your success.
From what we can see regarding their performance, this vendor is not really confident about their service.
That is why they are not willing to put their mouths where their money is. First of all, we would like a 3-6 month trading sample on myfxbook.com. That would be a good place to start from.
We would like to see some concrete proof that they have over 1,000 clients because as it currently stands, this number is seemingly not real.
These are serious issues by the way. If Blue Pips can address them in this review, we will appreciate their time for that.
Otherwise, thanks for reading this Blue Pips review. If you have something to say, you can comment below so I may get a chance to hear from you as well.
If you are looking for good Forex trading resources, please click here to go to our list of recommended products.
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