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FX Seven Pips Review: is this a Scam Forex EA?

FX Seven Pips Review: is this a Scam Forex EA?

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FX Seven Pips is a Forex trading software that allegedly offers the best services to investors. The EA is fully automated and executes trades at high speed. According to the developer of this software, you can rely on it on your trading activity.

The company proclaims that they are constantly updating their system. Therefore, investors are rest assured that they will have the optimal experience. The only information that we know regarding the founder is that they are experienced in the field of Forex.

Unfortunately, the platform has not done much to prove its quality programming solutions. Anonymity with FX Seven Pips does not serve any good. Investors are not aware of the person that they are trusting with their money.

FX Seven Pips Review, FX Seven Pips Platform

The currency pair that you can trade using this software is USDCAD. It uses a time frame of 30 minutes. The whole process can be automated. Hence you can open, close, and manage your trade.  The firm claims that the EA is easy to use and has great entry and exit points.

Traders are in full control of the amount of money they want to risk. The software has a smart risk management ability. Moreover, FX Seven Pips can trade on the MetaTrader 4 platform.

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FX Seven Pips Review

The company is not using scalping and hedging strategy. They also guarantee investors they will receive new updates whenever they are made. The software claim that you can trade anytime without any worry.

FX Seven Pips allegedly were built to help investors attend the best outcome in the market. You only need to install the EA and continue with their daily activities. However, we have seen some trading systems that experience malfunctioning resulting in devastating losses.

We do not know the plan that this company has in case something like this happens. The trading bot is being advertised as something that can handle all transactions for traders. You should always invest in a profitable trading bots in the market.

It trades for the duration of 24/5, and as long as it is running, you will make lucrative profits. The company guarantee investors they will have a great winning rate. The software is also compatible with the majority of the brokerages in the industry.

To get started, you need to send your mt4 account number. FX Seven Pips will activate your account. The platform also has a 30 days money-back guarantee. If you are not pleased with their s, However, you can only receive your money if the company does not send you the software license within three days.

If you lose all your money by using the recommended setting, you have a chance of getting your money back. The last condition is when you encounter an error that the developer cannot resolve, you need to deposit an amount of $109.

Trading Results

The company has availed they’re resulting using FX Blue. They have an average of 96.71% of profits within the first month. It has performed 20 trade and only has made losses in four of them.

We prefer if FX Seven Pips would provide their MyFxBook results. However, the trading EA does not seem to be profitable. It is a risky venture that we do not recommend.

The trading result of this platform was last updated in December 2019. It means that they are no currently trading performance available. The company is making more losses than profits. The Platform is making weekly losses averaging to -0.49%.

The company has not back-tested its results. Backtesting allows investors to see the past performance and the strategy that the software is using. It is good to know what you are getting yourself into before depositing the money.

Trading Strategy

FX Seven Pips creator recommends investors deposit at least $100 and selects a minimum lot size of 0.01. if you do this, you will attain a reasonable amount of profit. Unfortunately, the founder of this platform does not disclose the strategy they are using.

Without insight into what investors should expect, we find their operation suspicious. Traders need to have an overall approach to the methodology that the trading EA is using. It helps to know the risks that you are exposed to and what you can expect.

For this company to compete with reputable Forex trading EA, it needs to be straight forward. The information they provide is not adequate. Hence you cannot make a sober decision. The company has three investment plan for those interested in purchasing their trading software

The only distinguishing factor is the price. However, all the packages have a free upgrade, lifetime licenses, support, automatic trading features. The prices are $109, $129, and 149.  Comparing them with other Forex trading software, you will find that the amount is affordable.

Contact Details

FX Seven Pips does not disclose their area of operation. However, based on the information we gathered, it appears Russia is hosting the platform. There is a high likelihood of the developer originating from this country.

The support can be contacted via email; [email protected] or on the telephone; 375172912800. we do not know the quality of customer support that you should expect from this company. The company has not acquired any feedback from their customers.

Hence, it is hard to verify whether they have excellent support services. However, the platform is not licensed by any financial regulatory body in the market. Therefore they are operating against the law. Unregulated entities have multiple risks, and we do not advise investors to venture with them.

We do not know the brokers that FX Seven Pips has partnered with. Nonetheless, this being an offshore entity, you can expect anything from them—the first thing that you check its whether the brokers are licensed to conduct business.

Lack of Feedback

FX Seven Pips have not acquired any feedback since the time they entered the market. The platform is operating on their own accord. Without knowing the experience of those who have engaged with them, you will be making a blind decision.

The legit investment platform will acquire multiple endorsements from those who have tried their services in the past. You will have all the information that you need to make an informed decision. Whenever you encounter a platform that has not attained a great reputation, it would be best to look for better alternatives.

The company does not have a reputation in the market. It has been over a year since they first made their digital footprint. It seems no one is interested in the services of this platform. Considering it is a scam entity, you can expect anything from them.

Final Verdict

FX Seven Pips is an entity that has favorable prices. However, we cannot yet conclude with this platform. They provide their trading results with the MyFxbook account. They have not updated their latest result, which is a major drawdown.

It appears as though there is no longer trading taking place. The company lacks a trading history, and they are not transparent. Additionally, the trading result is not disclosed, and its website is unprofessionally designed.

You can invest with legit Forex trading EA in the industry. You will find their recent trading results. Trustworthy entities are also transparent in their dealings. We do not have much faith in this platform. We shall be monitoring them closely, and in case of any updates, we shall let you know.

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