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PipSpring Review: A Profitable Trading Indicator or Scam?

PipSpring Review: A Profitable Trading Indicator or Scam?

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PipSpring is a trading alert software whose developer promises to provide a unique and profitable trading solution to their clients. The developer even recons that every individual has their own unique needs when it comes to trading and they believe that they can satisfy these needs through their trading indicator, Pip Spring. PipSpring is allegedly designed for all kinds of traders, whether full time or part time traders who are looking to grow their accounts by a few pips each day.

The owner of the software is known as Jeff Glenellis. He used to have a website called jjglenellis.com but this website has since gone out of business. However, his Twitter account which was created in 2015 seems to be active even today.

We have also identified a YouTube account associated with the owner of PipSpring. This account has slightly more than 500 subscribers and appears to be active as well. However, on the sales page, there doesn’t seem to be a way to contact support. This is a very bad sign because it shows that the developer is not concerned with providing any kind of after sales support. Even if you want to make an inquiry, you will be forced to make use of their social media channels but not reach them directly from the main sales page of PipSpring.

So this is going to count against them in this review because if a product has no way to contact support, then we can only imagine the kind of problems that many customers go through after making a mistake of purchasing without seeing whether there is a way to speak to support.

The product in question was however authored back in 2014, but due to public demand, we have decided to review it to see if we can offer the public some fresh insights regarding the product and whether or not they should trust this trading indicator.

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PipSpring Review

PipSpring is promoted as the ultimate renko software or even the holy grail of trading gold and renko charts. The sales page consists of some strategic analysis, a couple of videos which teach how to set up the software on an MT4 platform as well as some testimonials which are endorsing the program. According to Jeff, Renko is the new way to trade the Forex markets but he doesn’t bother telling us why he believes so.

pipspring

However, the reason he believes that this Forex indicator is a special tool compared to all others on the internet is because he claims brokers can’t see your take profit and stop loss areas when you use it.

This is being paranoid and most traders just use this excuse when they want to justify their failure in the Forex market system. There has never been a single proof on the internet to show how brokers hunt these areas and so we don’t really believe in this paranoia. In fact, it almost looks like something that many vendors are using to try and sound legit in the eyes of traders.

The vendor does not provide us with his analysis for the strategy which they are using in this Forex trading indicator. However, they are telling us that this indicator relies on the 1 hour time frame trading the renko strategy. The pairs which the system is trading include Gold, Oil and Major Currencies.

The sales page of PipSpring also tells us that when we purchase a copy for $97, we will get 4 products in 1. That is, 2 trading manuals and 2 robots which are valued at $1797. The manuals are called PipSpring standard manual and PipSpring Renko Manual. The two robots are PipSpring Renko and PipSpring Standard Robot. The reason why the vendor has included two robots is because they want to give you the chance of automating the strategy that comes with the indicator. So this means that traders who do not wish to utilize the manual trading part of it can automate their trades and save the time which they would have wasted in manually placing trades.

Trading performance

Despite the marketing efforts that the developer has poured onto the sales page, they still suffer a very big setback. There is no trading performance anywhere on the sales page.

The reason why we need a performance report (an audited one) is because the developer has already automated his performance meaning that there is no way they are going to claim that they have never used or tested this robot on a live account. And if it’s indeed true that they are not using the trading indicator, then it only means that we are getting a raw deal.

However, due to the age of this product (in 2014 many developers didn’t provide their trading results through myfxbook or fxblue), we are not surprised that what they have on the sales page is just claims that their indicator is the best trading system.

Since they are selling copies of PipSpring for $97 and even competing with modern trading indicators, it would be best to include their audited performance report in order to keep up with the trend. Otherwise, the vendor will find a hard time convincing people that their product is legit.

In short, this trading system has very little to offer the trading community and recommending it would be like wanting to ruin our reputation. Therefore, the best thing you could do is to avoid this trading system until the developer can make a few updates on the sales page.

Our best advice for you

PipSpring does not have a trial and yet the developer cannot show us what the software has done all this while. If a trial was available in place of audited performance results, we would have given it a second thought. However, trial is not there and performance report is equally missing. So how does this vendor want us to pay for the product? Stick with these Forex systems.

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