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Practical Pips Review: Another Mysterious Trading Room

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Practical Pips Review: Another Mysterious Trading Room

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Before you even land on their homepage, search engines warn you that the site is unsafe. We are talking about Practical Pips (Practicalpips.com), which is a trading room. PracticalPips is also doubling up as a Forex signals provider for anyone interested. Even with their six years of existence, there is still no traction on the platform. And this begs the question, why is the platform not getting any attention from traders? Read this genuine and thorough PRACTICAL PIPS Review for more.

Practical Pips Review

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About Practical Pips

Once you land on their homepage, you get the feeling of a professional-led platform. The aesthetic of the page is appealing, which makes most want to sign up. What is clear is that the platform offers a chance for investors to interact. There are different trading rooms where members interact and share ideas. Some of the trading rooms listed include broker discussion and Crypto trading rooms. What is evident with the platform is that there’s no update on the site.

We were shocked to learn that the owners don’t bother updating anything on their homepage. What you see now is what has been on the homepage for years. And this goes to show that the developer doesn’t care about their appeal. By now, one would be tired of the homepage as it doesn’t offer any new items. The promises are also far-fetching as they claim accurate signals that offer consistent profit. We know that this is not true as the industry is volatile, and everyone incurs losses.

Breakdown of the platform

What you get from this platform is two ways of trading online, learning, and signals. The platform boasts of having a completely unfounded community of profiteers. We have yet to see any member come out with claims of profiting from their signals. And this is another problem as these platforms will do anything to get your attention. There are discussion groups and trading rooms that help paint a clearer picture of trading. And this is what we will be looking into in this post.

Business owner

After thorough research, we found that the owner of this platform goes by the name Glen Howell. Johan Barnard is another user who seems to be a partner and seems to know more about Crypto. What we found disturbing is that these two guys last commented on platform two and three years ago. It goes to show that even the developer seems to have forgotten about the platform. If this is how they behave with their platform, how about your hard-earned funds?

Comments and feedback from users

As stated earlier, we have yet to see anyone coming out praising the accuracy of their signals. Even in their chat rooms, the two guys seem to be the only ones communicating with each other. There’s a third profile under the name Scott who hasn’t posted anything on their wall. It all seems a bit sketchy that no one else is on the platform’s chat rooms. We are led to believe that this is an anonymous-led trading platform. These names could be made-up profiles trying to sell the platform’s authenticity.

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Domain details of the trading room

After looking at the domain details of the trading room, one thing came into mind. The platform does enjoy longevity as it has been in the industry since 2014. What is weird with the platform is the fact that the number of IP changes is astonishing. The website has undergone 41 changes over the past 11 years. And this means that the website was operating under a different brand before becoming a signal provider. The servers of this platform are located in South Africa, which might mean owners are in Africa.

Features of Practical Pips

Practical Pips Features

The platform claims to offer real results and real trades on its platform. For the price of $19 per month, users can trade with all pairs and all timeframes. The strategy used by this platform is price action and offers an optional demo account. PracticalPips claims to offer the best live trading rooms, which remain to be seen. Once you sign up, you will get several learning materials from their library. After becoming a member, users get access to educational materials such as YouTube video tutorials.

License and Registration Practical Pips

With no idea where the platform is located, we couldn’t get any information on their permit. We know that Practical Pips is not yet a legit trading platform as they offer no legal documents. A true signal provider will offer copies of their license details for all to see. With the details comes the assurance that the platform will offer insurance cover for your deposit. Without any operational license from regulators, all we have is a platform that doesn’t follow the rules.

The problem with this platform is that no regulator seems to acknowledge them. We checked with different regulators across the globe for information on the platform. Once you sign up with the platform, the risk of losing your money is high. With no regulation in play, the liability will strictly fall on members. To avoid such scenarios, the best option is to sign up with industry-recommended products. Safety should be a priority when it comes to online investment opportunities.

Pros and cons of Practical Pips

Available plans/Subscriptions

Practical Pips is furnishing users with three plans to choose from. The listed plans include Newbie, Pro, and Account. With the newbie plan, users don’t have to pay for it. The plan is more of a demo account than an actual trading account. One pays $9 for the first month with the Pro account and $19 thereafter. What is weird with the platform is the Account plan, which does not have any charges. The platform states that users get an extra discount and full pro access. We believe this is a marketing gimmick to get more users to sign up.

Contact and support

Making contact with this platform is another hassle; there is no contact page. One way of trying to make contact is with social media channels. Users can also try using chat rooms, which is not effective. The email process is not active as support does not respond to messages. When you talk about a communication breakdown, this platform should come to mind. The platform does not leave any direct links to the platform. One way would have been offering a live chat or a telephone number. It seems the owners don’t want to be bothered with any queries.

Performance and trading results of Practical Pips

The platform fails to have an ‘our results’ page, which is a bummer. There’s no way of proving that the platform does perform. And this is another reason why we fail to understand the developers of PracticalPips. With valid trading results, it makes it easier to determine whether a platform is legit. No third party platform, such as FX Blue or myfxbook, has been able to verify their results. It leads us to believe we are dealing with another botched signal provider. Any claims of making a profit should be backed with hard evidence.

Scam or Legit Practical Pips

Practical Pips Accounts

Practical Pips is an outright scam as they don’t bother updating anything on their website. The platform is old and has no winners. Once investors sign up, the owners leave it at that. There’s no actual trading taking place under this platform. And thus, we strongly believe that PracticalPips is a scam.

Bottom line

We won’t be recommending a signal provider without any verified trading results. These are developers who want to steal from naïve investors; stay away.

The only safe way to trade is by using industry-backed trading tools. Make the bold decision and sign up with effective robots that are reliable. These robots have years of trading experience and are the backbone of automated trading. 

Our entire team wishes everyone a memorable trading experience.

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