Western Pips Review: Is a Scam?

Western Pips Review: Is a Scam?

Western Pips is a Forex firm that provides several Forex trading software. The firm says that its systems provide the most accurate and consistent signals. The firm claims its systems will help traders spend less time monitoring the market.

The company claims it has been running since 2009. Moreover, they claim that their expert software is the only one able to make maximum profit in the Forex market. Further, they promise to provide constant support and regular free updates for their customers.

Advantages of trading in the markets

Here are some of the most enticing aspect of trading with automated forex trading robots

  • Accuracy of market

Unlike humans who don’t have the much computing power to scour the web for information, these robots do.

You get robots offering high accuracy for trading and this will impact on the visuals of trading with some of the world’s best.

Traders need accuracy when trading so that you can minimize losses as best as possible.

  • Best in class

These robots were ranked best in class by industry professionals and traders alike. These robots offer much in terms of accuracy and predict the best in terms of assurance.

You want a robot that offers quality services and not a botched robot that even fails to hit the set profit targets.

  • Customer support

Exceptional customer support is what you get from investing with the best robots. That means you won’t have to lose faith in your trading aspect.

Traders want to get out of a jam as quick as possible and 24/7 support from robot support is essential.

  • Complete control of robots

When you create or get custom robots, traders get complete control over these robots. You can set the parameters you want for the robot to act. With this power, you can also set profit targets and set loss limits.

  • Error free

As long as the code on these robots is error-free, traders have a chance of making huge profit margins. The code usually is set on certain actions and rules to follow on the market. And this gives less chances of making losses.

  • Setting aggressive and passive trading parameters

With the trader having complete full control, you can set the best in terms of how aggressive or passive you want the bot to trade. If you want the bot to be more market specific, it will act according to the input settings.

The main software being sold by Western Pips is the Trade Monitor 3.7. They claim this Forex indicator uses the Forex scalping strategy in its operations. Additionally, they claim they are the best in the market, and this is because they use algorithm systems, advanced IT infrastructure, and a wide range of services.

The website features several other products from this company. These products are clattered on the website, and it is hard to tell what’s what. It is quite unprofessional, and we hope they can clean up their site to make it easier to navigate.

Now the question is, are Western Pips worth investing in? Unfortunately, we don’t think so. There are a few details that make it hard to recommend this company to you. You should only invest with the best Forex robots that have proven they can be trusted.

Western Pips Review

The firm claims that these robot needs a fast data feed and is low latency broker to work. Additionally, they feel that using the strategy; they can learn the price of 100 to 300 milliseconds before it will appear in the NT for brokerage.

Western Pips Review, Platform

The developers also claim they have expanded their staff and headquarters.  Further, they say they are constantly conducting several new developments. They say they are actively working on high-speed robotic features. Additionally, they are looking to establish communications with the major banks, and this is so that they can offer a higher quality of service to their client.

Further, the firm promises to provide free updates to its clients continuously. They promise to involve customers in testing and searching for new brokers.

Western Pips also provides user manuals on how to use their software, and this is very useful for new clients and novice traders.

The good thing about this company is that the people running it are not mysterious. They have provided details on their identity under our team tab on their website. However, most of them have programming backgrounds. None of them seems to be well experienced in Forex trading.

Only companies run by individuals with a wealth of knowledge and skills in Forex trading can maintain profitability for a long time. It is because successful Forex trading requires a lot of analysis and perfect execution.

Western Pips Trading Strategy

Western Pips does not provide many details on their trading strategy. However, they do say they use Forex scalping in most of their software. Additionally, they use the arbitration approach in picking winning trades that last only a minute long.

The Trade Monitor 3.7 works best when it is provided with a fast data feed provider and a slow broker, where the quotes are delayed. Delayed quotes arise from errors in the software of the broker or problems on its server. The program makes sure you receive data feeds without delay.

It can do this because it is connected to the fastest current data feed providers. These include Rithnic, CQG, Interactive Brokers, Lmax Exchange, Saxo Bank, IQ Feed, Gain Futures, and CTS T4.

Consequently, the firm guarantees you will have the edge in the market. They claim you will be able to get data feeds 100 to 300 milliseconds before they reach the broker’s terminal. While this may be true, we are not sure this is that much of an advantage as it provides very little time to execute a trade.

Moreover, Western Pips claims they have developed several algorithms that allow you to trade different types of latency arbitrage for more efficiency.

Pricing and Products

The pricing on the products that Western Pips provides is on the expensive end of the scale. These are some of the most expensive products that we have seen in the market.

Most of the trading software is being offered at the price of $1000, all the up to $4800. Moreover, some of the products also feature different prices. Western Pips does not explain what these different prices are for, and this is a cause of concern. Investors always want to know what they are paying for before they decide to invest.

The company accepts payments through Alipay, Wire Transfers, Skrill, Visa, WebMoney, Western Union, and Bitcoin deposits.

Most of these payment methods are reliable. However, we must caution about the use of Bitcoin deposits as a preferred payment mode. This mode takes away the ability to trace or recover funds sent to another person. Therefore, avoid this option if you can. It will save you some trouble in case of any problems.

Western Pips has certainly expanded its product line. They provide several products, including Trade Monitor 3.7, FIX Trader 3.9, Crypto Trader 1.7, Analyser 1.3, Web Clicker 1.9, and Private 7 Multiterminal.

Trading Results

The trading results this firm provides are all over the place. The Myfxbook results they provide are filled with several strange trading accounts. Moreover, most of these accounts seem to have stopped trading right after showing huge gains, and this is extremely confusing.

Additionally, most of these trading accounts are not verified. Furthermore, they are trading with brokers that either doesn’t exist or can’t be joined.

There has to be something this firm is hiding from its clients. Moreover, past performance is never a guarantee for future performance. With a company that is this disorganized, it is better to be extra cautious about saving yourself some trouble.

Customer Feedback

Western Pips is receiving mixed reviews from customers. There are a few positive reviews and several negative reviews. However, positive reviews cannot be trusted. According to FPA, multiple suspicious fake reviews were posted in favor of the website and its products.

Moreover, the negative reviews are on the other end of the spectrum. There is nothing between. Many customers who have tried the product are saying it is a scam. They claim to have lost much money using this company’s products. It would be unwise to trust this company knowing this. Many other companies will give you better services at cheaper costs.

Final Verdict

At this time, this company does not have our full trust. Therefore, we cannot recommend it to you. Their website is clattered and shows no professionalism from these individuals. Moreover, the team lacks someone with experience in Forex trading.

With the mixed reviews, this firm is receiving online; there is no justification for the high prices they are asking for. The software does not work as expected.

Only legitimate companies have proven it can maintain profitability for a long time. Our advice is you stick with the best Forex trading robots that have proven to work. Only such robots can give you the kind of returns you are looking for. You only need to be patient.

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