Today we are reviewing pipslife.com, a website that you would easily mistake for a Crypto currency platform because everything here feels more of Crypto currency than Forex signals. The website Pips Life also claims that they do refund traders if their signals hit a stop loss. But most importantly, they are using a unique payment model that most of us have not seen in the Forex signals business. They operate on a pay-as-you-go model, where traders can purchase each signal for $1. This is the first signal service of its kind, and the developers feel that it will liberate traders from monthly, yearly or lifetime plans that simply cost too much. The vendors even claim that they will refund traders “for any signal if the stop loss gets it.” Today we will be providing a full review, and letting you know if these signals are worth the $1 fee.
There is no information provided about the vendor, their location, or history in the Forex market. This is definitely a miss-step, and something that needs to be resolved before we can have faith in the service. In order to get in touch with support traders can email [email protected] or use the tawk.to chat box that flashes in the bottom right hand side of the page. If you feel that this is not a proper service for you, we recommend taking advantage of these trading tools instead. They have managed to pass the test of time and we definitely think the community will continue to endorse them in the next coming years and as long as developers and providers of those services are doing the necessary updates.
The vendor claims that there are 4 different reasons why traders should sign up with the Pips Life VIP Forex signals service. Here they are:
No subscription required – traders can simply buy signal whenever they want to trade.
Fully refundable – if the signal loses, they will give you your money back automatically.
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Free signals – if traders invite their friends, they will get free signals.Over 2.8K happy members – the vendor claims to have grown to over 2.8K active members since they started in March 2019.
This claim doesn’t seem realistic, as the website has little to no reputation in the Forex market, and it generally takes even the top vendors multiple years to acquire this many clients. It’s our belief that they are claiming to have this many clients in order to seem more popular than they really are. In fact, the review your competing today, is the first review ever done for this product.
The website has no information about the strategy, and no information about the traders providing the signals. There is a real shroud of anonymity around the entire PipsLife signal service.
In order to dig deeper, we utilized the chat box and asked a few questions, but each time the support worker put up road blocks. When we asked for information about who these signal providers are, and what type of history they have in the Forex marketplace we were told that the support worker is “not allowed to divulge names.” This is really quite strange, and makes it seem like the vendor is hiding something. Maybe they don’t have as much experience in the Forex market and they would like us to believe.
In terms of strategy, the support worker tells us that they use a “trend is your friend” strategy, but this is a very basic concept, and not helpful. While I commend the support worker for answering my questions almost immediately, the answers were all very disappointing. Until this vendor provides more transparency they will not qualify as a best Forex signal provider.
In order to get access to the Pips Life signals, traders must load up their account with at least $5 “via Credit Card, Bitcoin, PerfectMoney and Skrill.” After the account is loaded, the trader can go to the website, and buy signals. The support worker offered us $5 free to test the signals, in the hopes that we would stop asking questions. So, if you are interested in the service, then you can likely get this free $5 test as well.
$1 per trade isn’t the best deal in terms of price. If you want to take 5-6 trades per day, you would end up paying over $100 per month. Which is much higher than most Forex signal providers.
The only trading results provided by the Pips Life team come from a single screenshot from one of their clients phone. This screenshot shows a trader using a full lot on multiple trades on a $334 account. This is an extremely risky strategy. Regardless, this single screenshot of trades from of even weeks ago is hardly the verified proof that we are interested in.
We asked them if they can give us access to their trading statement, Myfxbook account, or any sort of verified trading results, and the support worker told us that there was no need. When we pushed harder for this information the support worker eventually told us that he will have one of their traders email us with their statistics, but we have yet to receive this email.
The results are not up to par, and failed to meet the mark set by many of their competitors as you can see in our recent reviews of Forex Specs, and Pipster FX.
While the website comes across as professional, it is missing almost all of the most important aspects the Forex signal service should provide. The vendor fails to provide information about their trade analysts, their trading strategy and have no verified trading results to prove that the signal service works. Until these aspects are provided or updated, we will not be able to recommend the service to our readers. If you’d like to try the best trading products, go to this page.
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