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Piphiker EA Review: Is piphiker.com a Scam?

Piphiker EA Review: Is piphiker.com a Scam?

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Piphiker EA is a grid and hedging trading robot and for that reason, you should expect that the Forex trading robot will only work with a broker who allows hedging. Also, if you don’t like grid strategy of trading, then this robot is simply not meant for you. The developer of Piphiker EA tells us that the robot is a passive way of generating income. They give the impression that we do not need to work hard to make money as the robot will always be trading on our behalf. While this is true for a good robot, the chances that PipHiker EA will perform as expected could be slim. Unless we lay out hands on the actual trading performance of this robot in the past, chances are that we may not be able to tell whether this robot will be profitable at the end of the day.

The owner of PipHiker EA does not provide information concerning their name, company or whereabouts. But we can see that they are providing multiple links to their FXblue accounts. We are not really into FXblue because for one, it is not as user friendly as myfxbook is. For that reason, we can easily miss out on important details unlike if these accounts were opened through myfxbook. On the positive side, we see that indeed the accounts are real whiuch simply means that the vendor is working hard to prove a point. They want us to know that they are putting their mouths where their money is. We would like to meet them with the same faith but unfortunately, there are a few concerns which the vendor must deal with first before we can even consider the thought of including this robot into our Forex trading tools. Right now, we are not sure whether this is the right move. But at the end of the day, you will definitely make up your mind regarding PipHiker EA.

PipHiker EA review

So now that we have no idea who is selling this robot, we can’t call them by their name or that of their company. Keep in mind that we also do not know whether a company is involved in the making and selling of this Forex robot. We are hoping that this Forex developer will soon include this info on their sales page because failure to do so will only result in mistrust between them and the people they want to sell this robot to.

They tell us that when we purchase a copy of the PipHiker EA, we should expect a monthly profit of between 7-12%. The average is 10% per month though. This is quite a realistic goal as there are many Forex traders who have consistently generated more. These returns are not exaggerated but we also need proof to determine whether their word can be trusted. They also tell us that this robot works well with a $1000 account. The robot does not require any human intervention because it is 100% automatic. It is easy to install and it also comes with lifetime support. There are 3 different plans under which this robot can be obtained. But for now, let us focus on the workings of the robot to see whether it can be trusted and whether the strategy can be considered as viable.

Trading strategy

Many professional Forex traders just don’t fancy grid and hedging trading strategies because most robots that work this way are known for losing money in the long run. The developer has tried to back their claims with multiple FXblue accounts to prove us wrong and at this point, we are wondering why they never thought this robot will not sell if they showed us their myfxbook account. In the about strategy section of the site, the vendor has this information for us to ponder on:

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This EA is programmed to build a grid and it hedges to reduce the risk. It uses as most grids the M1 time frame and can be traded in any pair. The minimum account size is $1000. The Piphiker enters positions based on data from multiple indicators and starts with 0.01 lot size. There is a stop loss, but placed very wide to not disturb the grid entries. Per $1000 you can trade one pair. More is possible, but it will increase your risk level.

Based on this strategy, we see that accounts that are under $1000 cannot be used with this robot. Also, stop loss are placed wide apart to safeguard trades and ensure they are not hit prematurely. This is a professional way of trading though. However, keep in mind that grid systems are just not as reliable. We will scrutinize their performance results to see whether this robot is an exception.

Trading performance

Total returns or profits for this account is over 170%. Weekly gain is 3% which is according to the vendor’s projection with regards to the amount that we could be making with the robot every month. We see that trade win is 72% which is impressive considering that this is a grid and hedging strategy robot. These results are impressive overall. For that reason, our interest is in finding out whether other people are using the robot and reporting the same results. It can sometimes be hard to replicate the trading results of a vendor because markets do change and their settings can also be different from those of their clients. There is also the issue of brokers who are simply providing poor trading environment.

Customer reviews

We are afraid that these cannot be found anywhere else on the internet. We can only find testimonials on the landing page of this site but not in any other website. We are not so sure whether these testimonials can be trusted.

Our best advice for you

There is no user feedback to support the claims that Piphiker EA is a profitable trading bot. While the results are impressive, we prefer them on myfxbook and we also love to recommend robots that other users praise. Please stick with the usual recommendations. 

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