Forex Pips Signal Review: is this a Scam?

Forex Pips Signal Review: is this a Scam?

A reputable signal provider should be transparent, to know more read this detailed Forex Pips Signal ( review. They claim to sell trading packages at $10 per week. The signal provider also boasts of providing free pending order signal updates. Free signals are not as free as the vendor suggests, as they could cost you more. For those who don’t want to buy their signals, one can steal their free signals. The only problem is that the vendor rarely updates the free signal section.

Forex Pips Signal Review

About Forex Pips Signal

After landing on their homepage, a lot leaves to be desired, especially with their design. The page has a lot of general information all cornered in one place. It makes it hard for a user to navigate the entire homepage. Before reading all the material, one might get tired due to the stocking of information. And this is one of the reasons why a majority of investors have ignored using these free signals. The developer should have come up with a more professional design to try and entice investors.

There are good automated trading tools that are ideal for investors. These tools can generate stable income thanks to their strategies and result oriented structure. The reason why investors succeed with online trading is using the best forex trading robots. These robots ensure investments are safe, and users get information on how best to trade. They are the reason that sets successful traders to those who use unproven tools. It is time to switch to expert-backed tools and start making real profit margins.

Forex Pips Signal is not in the business of offering any real trading advantage. They use the free promotional line to get as many users hooked to their services. There is nothing for free in this world. And this is the reason why some investors are unhappy with their signals. They claim that the signals are inaccurate and cost them during trading. The accuracy of these signals is also in question after users failed to get the 95 percent accuracy level. And there’s more to this free signal provider.

Alerts from the signal provider

Forex Pips Signal Features

They claim that their signals are dispatched one to two times a day. The quoted accuracy level is 95 percent, which is another suspicious claim. Such a high accuracy from a free signal provider is beyond imagination. If the signals were this accurate, the signals would come at a high price. All traders would, by now, use the signals to get ahead of the trading world. It is not the case as a majority of users are not happy with the outcome. And this is the reason why users should pause before signing up with the platform.

Available currency pairs

Forex Pips Signal is offering four currency pairs on their platform. The four currency pairs include EUR/USD, USD/JPY, GBP/USD, and USD/CHF. Take profit and stop loss is quoted differently on each currency pair. Interested parties have to check in with the website to see the quoted amount. Users can get these signals via SMS or email, and the vendor claims that this too is free. A one week SMS signals package goes for $10, and this is only in trial mode. The standard SMS package goes for $60 per month.

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Background and history of the signal provider

On their homepage, they claim that the platform was created in 2005. Records from the domain checker point to the exact date the website went live. As for the actual people behind this platform, there are no precise details. The developer and vendor remain anonymous, which is a clear violation of the user’s rights. A client should be able to know the details of who created the robot. They should be able to see the person accountable in case the services don’t work. And this is another problem that needs to be addressed by the robot.

Comments and feedback from clients

There have been no positive comments seen on behalf of the platform. It seems that the signal provider has no social media presence. And this is a problem on its own as the trading world does not know that this platform exists. The developers could be targeting a particular type of investor. In most cases, such signal providers target naïve investors who are looking for new ways to trade. And this is why an investor should investigate a platform before committing any funds.

Domain insights

A closer look at the domain information of this website reveals a shocking fact. The exact date that this platform went live was on 6th February 2020. It means that the platform is barely a year old, and their 2005 claim is a hoax. These unknown signal providers try to create their online presence, which is not helpful. Thanks to domain checker tools, we can see when precisely a platform went live. And this shows that the vendor is trying to create their online reputation, which doesn’t work.

Features of Forex Pips Signal

Forex Pips Signal Available Packages

Some of the notable features on the platform include sending Buy/Sell alerts via email. Other features include four currency pairs traded; three buy signals package and entry price. Take profit price is also available with claims of updates on the stop loss. They also claim to offer live chat support, which remains to be seen. The vendor claims to provide signals instantly and a guaranteed win rate of 95 percent. As we stated earlier, the win rate is out of this world and should not be trusted.

License and registration of Forex Pips Signal

Forex Pips Signal is not licensed or registered to offer any trading serviced to the public. The platform’s headquarters remains unknown, which is a huge problem. An anonymous online investment option is bad news for investors. Without a clear description of where they are located, regulation becomes a problem. We checked with various regulators in the industry to try and confirm their status. With some of their clients hailing from the States, we headed to the CFTC and NFA for details. Both of these regulatory bodies have not heard of this platform.

And this leads us to their next disadvantage, the security of funds. The platform does not secure funds deposited by clients. Once you deposit funds with this platform, there are no money-back guarantees. Clients don’t get any insurance cover for their deposits. After depositing funds, the signals might not work, and there will be no compensation. It is one of the biggest challenges with unregulated entities. Smart investors use tools that protect their investments at all costs.

Available packages/Prices

Forex Pips Signal is offering users three packages to choose from. The three packages include Trial, Standard, and Premium. For those looking to trial the signals, they must deposit $10 to get signals for a week. Standard account holders must deposit $40 per month and get email signal alerts. The last package is Premium, which goes for $100 for three months. When it comes to signal packages via SMS, standard membership goes for $60 per month. The Premium membership plan is $150 for three months.

Payment options

There are over five payment options listed on Forex Pips Signal. They include MasterCard, Neteller, PayPal, Perfect Money, Skrill, and WebMoney. The platform only accepts payment via the US Dollar currency. It is not clear whether the payment process is secure since the site is not SSL encrypted. And this leaves a huge hole to fill for users. The payment process can open up investors to online card fraud. Hackers will try to steal credit card information from secure sites.

Scam or Legit Forex Pips Signal

Forex Pips Signals is not precisely a scam, but it is undoubtedly an unregulated entity. The problem with this platform is that they fail to give any valid trading results. They only provide a chart of the performance details of the four currency pairs. Although the performance chart is continuously updated, there is no way to prove legitimacy. The platform would have done us proud if they posted their results on third party sites. They should have provided their results on sites such as FX Book and myfxbook.

Bottom line

We will not be recommending a platform without verified results. Although the signals are free, interested parties should tread with caution when using this platform. Ensure withdrawals are possible before committing fully with the signal provider.

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