Max Pip FX! Is this a scam or a genuine signal provider? Well, many traders want to know before joining. And the good thing is that the ”company” has a free signal service for the EURUSD pair. So everyone is at liberty to try them out without paying them upfront.
Now, let’s get to the main issues. Max Pip FX has been making claims on its website that their signals have been improving each year. Right now, they say that the average win rate for their signals is at 99%.
And we think these claims are a little bit far-fetched. No one has a secret formula to trading the financial markets with 99% win rate. It’s impossible even in your wildest imaginations.
You see, the markets are unpredictable due to the numerous conditions that affect it. Today, you might have very good results. But that does not mean that tomorrow’s results will be the same.
That’s also where we will begin discussing draw downs. Max Pip FX doesn’t tell us about its draw down percentage. Instead, we only have positive account statements which you and me are supposed to believe without asking any questions.
So, what’s our take on Max Pip FX? Should you subscribe to this service?
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Be careful with this signal service. We’ve seen people burning their live accounts because they trusted fake statements.
It seems that vendors of these signals have a way of rigging or manipulating their results somehow.
They are way ahead of the game. The free signal service for the EURUSD is just a bait for those who don’t know how things operate here.
Luckily, if you’re reading this Max Pip FX review, you are in a position to know what’s been happening with customers who were unlucky to fall in the hands of this signal provider.
First of all, there are numerous complaints that Max Pip FX does not provide SL and TP levels when signals are dispatched.
These figures are often quoted as T / P – 0.0000 and S / L – 0.0000. And when you receive them, you’re supposed to figure out TP and SL on your own. That’s a bad idea considering that this service is marketed as beginner-friendly. The truth is that it’s not.
Also, without a TP or SL, it is nearly impossible to trade a signal. This leaves us wondering what these guys are really up to.
Generally, negative reviews on this signal provider outweigh positive ones. The original source of these positive reviews can’t be trusted. Remember that the more detailed the original source is, the more we are likely to trust that the person is telling the truth concerning their experience with Max Pip FX.
Now, the one and only reason why they never provide TP or SL is that they are always waiting for price to go in their favor. That way, they can fool you into thinking that their signals are always 99% accurate when that’s not the case.
This company doesn’t understand what customer service is. We signed up for the free signals which they claimed were being offered for the EURUSD pair.
When we asked a few questions, we were ignored. Because they never got back to us, we decided to cancel the subscription within the 7 days trial period. So again we asked their opinion on this.
For a second time, we never got a response. It appears that all their customers’ emails are usually routed into a black hole, never to be retrieved again.
Fortunately, we were able to recover our money, thanks to a PayPal dispute which we filed against them.
But notice that Max Pip FX has since stopped using PayPal in favor of credit cards and MasterCard as their preferred means of payment.
Now, the only thing we know about this company so far is that they keep a ”no-loss track record” for their performance. These statements cannot be trusted because a lot of under-performing signal providers just cobble together these things to make it look like their signals are profitable when that’s not the case.
We aren’t quite sure how Max Pip FX is able to publish their track record without any TP or SL numbers. It’s quite confusing. But at the same time, it puts a question mark on how they conduct their business.
It’s like they send you Buy or Sell Signals now and later on, they send you an email that this position was closed.
This is risky because a trader wouldn’t know at what point to close their trades or leave them running. They also don’t update people on what to do with the other trades that are currently running.
What this company is essentially saying is that their job is to offer signals while yours is to manage that trade.
So when they send their signals, one should expect them to close it at any time. But what do you do in the meantime? And what if you happen to catch that email late when the trade has gone against you by -200 pips or so?
No one bothers to explain, and we do understand that fraudulent companies operate like this since their job is to make money off unsuspecting traders.
Since they don’t work with SL, one could assume that they hedge rather than use SL. Your job is to understand how they work and you’ll be fine.
Nevertheless, we don’t think this will profit traders ultimately. Evidence has suggested that no trader has ever profited with Max Pip FX.
It’s just too sad that they are not telling their traders these things in advance. Secondly, it’s unfortunate that they tend to ignore emails, and if you’re lucky, they will give you a response that won’t serve your end.
And regardless of their ”splendid” reporting on this page http://maxpipfx.com/statement.htm, one can’t trust them due to the negative reviews that are floating left, right and center on the web.
Users have proved that those results are on paper, and cannot be simulated on a live account.
Pricing is within the range of the correct range. You can pay $99/month, $89/month for 3 months or $79/month for 6 months.
Nevertheless, in as much as these prices are affordable, the product is not worth paying for. You won’t get value for your money, and that’s a sure thing.
Max Pip FX sells bogus signals. Going for the ”premium” account is not worth it, let alone the basic one.
Secondly, it’s not worth being subjected to the hellish experience which their customer service loves very much.
Thirdly, we don’t have any evidence yet that people are profiting with Max Pip FX signal service.
So our best advice is that you should stop thinking hard about Max Pip FX. Just sign up to anyone of these Forex signals and mentoring courses. These products can and will make you money. We are also talking of systems that are reliable and consistent. Don’t gamble with your money because it can be costly.
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