By claiming to be the best source of robots for MT5, the Pipbolt (Pipbolt.io) review will clear the air. The developers claim that the idea behind these robots is flexibility and security. They claim that their robots are easy to use since traders develop them for traders. What the developers want investors to know is that the team behind these robots is professional. In their own words, they claim to be ‘highly skilled programmers’ with years of experience.
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The developer claims that the robot offers a high degree of flexibility. What these developers fail to realize is that we have to put their robot to test. And the results could not have been any more precise. These MT5 robots were unstable, and the security threats they posed were too risky. With a well-designed homepage, one would expect a masterpiece. From what we saw, the robots are far from being great. Users who have the chance to use the robots are a disgruntled lot ruing purchasing the robot.
Information regarding the history and background of the platform is missing. The homepage has little to no information on the actual developers. They also don’t give users any information regarding their whereabouts. And this is a problem as no one can determine whether these are professionals or amateurs. Anyone can come up and claim to offer the best trading robots. All they have to do is hire a developer to create a copied robot. And this is the most likely situation with this bot.
With all robots claiming to be using algorithms, the difference is in the results. When it comes to presentation, the website is good at selling their product. Without a keen eye and having no research, users will quickly sign up. And this is why reading reviews from a trusted expert is a chance to know more about a product. These Expert Advisors have all but done one crucial thing, gave proof of concept. With all their claims and promises, there is no proof of the idea that their robots work.
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Pipbolt is claiming to use various instruments on their robots. These assets include Crypto, DAX, Energy, Forex, Precious metals, and Stocks. It seems these developers have worked hard to offer such a wide range of trading assets. With all these assets, we fail to understand why the developer would be offering it for free. Yes, the entire platform has no price of the robots, which leads us to believe it’s free. The tactic is used by developers who want to capture the market and later start charging clients.
The platform fails in its course to sound legit and be reliable. They fail to give users the names of the founding members. It would be ideal if the platform gave users the names of the team members behind the platform. Otherwise, traders are signing up to a platform that is entirely anonymous. They provide no names or their headquarters, which is weird considering the fact the robots are free. When it comes to online trading tools, free comes with a hidden agenda. Investors would be signing up for an anonymous-led trading robot, and it does not sound secure.
It is a wonder that the robot provider has been in existence since 2017 and no review from users. There have been conflicting comments from two people who claim to have used the platform. Joe claims that the platform is not any good as it did not provide any results. The other is Jamal Carter, who claims users need to optimize to get the full potential of the robots. All in all, for over three years, there have been only two comments about the robot. It’s either the members are unhappy, or the robot has not heard anyone sign up for three years.
Their servers are in Germany while information shows the site went live on 30th September 2017. They have been in the industry for long and should have picked up more users. Why the robot provider who Prefers MT5 over MT4 does not have more users is beyond us. We expected that investors would value a website with such a long history. It could be that the platform is not active on social media. And this could be the reason no one is gearing up to use their robots.
The platform is having a few notable on their MT5 led robots. These features include fully automated, fully customizable, and using high slippage protection. It seems that the robots are using basic trading features for indicators. The mentioned indicators include Bollinger Bands, MACD, Moving Average Cross, Parabolic SAR, and RSI. These indicators are eight in total Ichomoku EA and Stochastic EA. All of these indicators come for free for those who are interested.
Since the indicators are free, investors who have the time can download them. They can test the indicators and see whether they do offer any meaningful opportunities. Users should not expect positive results from free indicators. The robots have to be optimized by the user to get significant results. One has to optimize the robots for consistent results, which is a bit exhausting. The robot should come with already custom settings that trade successfully on behalf of users.
Pipbolt is NOT REGULATED by any official regulator to offer its trading services. And this is a big blow as it blows away any credibility left. With the robot insisting on providing free services, we get why they lack a license. The licensing process is strict, and only the best get a permit from regulators. Even if the indicators are free, it means that after a while, the developers might start charging them. If this happens and the platform has no license, the security of the deposit is at risk.
The platform will be unable to provide any money-back features on their products. And this puts all traders at risk as the platform is not able to secure funds. Another problem is the safety of users when downloading the robot. With a lack of proper DDoS and SSL protection, users are at risk. Hackers might install a backdoor on their software and start filtering your PC. And this is why free software download from an unknown source is risky. The hackers might be looking for your banking information.
Expect little support as the website does not leave a direct helpline. There is no live chat or phone number where a user can make direct calls. These free robots with no direct access to the developer are suspicious. The only contact information we have seen is an email address. One of the biggest problems with emails is that the developer might use them to determine the response criteria. And this could mean that most emails sent in regards to the safety of the robots don’t get a response.
What makes the platform a big failure is the fact that there are no legit trading results. It should be up to the developer to test the robots with a real trading account. The results should be posted on FX Blue or myfxbook for all to see. Without trading results, investors are left on their own to test the products. It is like developing a car and taking it straight to the market for consumers to drive and check. For safety reasons, the developer should have tested it and provided full results.
There is little to suggest that Pipbolt is a good trading robot. They have failed in their quest to prove that the robot works. With trading results missing, we feel that it’s best to use proven robots. The problem with their free robots is that no one has been bold enough to try them out.
We only recommend tested and proven products with real results.
Go for approved and tested robots that have years of trading reputation. These robots will ensure you make a passive income, and your investment gets protection. It is the secret that successful traders use when making a profit with online trading.
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