As a tool that aids analysis in Forex trading, Easy Forex Pips assures traders with impressive results. The signal service provides signals for making the right trade exits and entries in real-time. According to the vendor info, this signal service helps in achieving consistent results. The official site does not reveal details concerning the developer or the team behind the signal generation. No location address or phone contact is present.
For customer support, the vendor provides an online contact form and messaging via its Telegram channel. This signal service is available in different subscription packages including one, three, six-, and 12-months packages ranging from $45 up to $150. Live alerts via Telegram, 4 to 7 signals, daily chart analysis, money management tips, and 1 to 3 targets per trade are the features included with the subscription. The vendor does not provide a money-back guarantee.
As part of its premium Forex services, this FX service uses an expert market analysts’ team for generating signals. The vendor states that, unlike automated bots, the human element in the analysis helps generate effective signals. With the signals generated users can gain information on the best time, method, currency pair, and possible targets for trading.
Some of the key features of this service include daily signals that make it easy for users to identify the best trades. The signals provided include long and short-term types. With the VIP signals, you can get technical analysis, accurate entries and exits, and more. The vendor claims to achieve nearly 79% accuracy with the signals due to the highly experienced team of market analysts the service uses.
Easy Forex Pips Trading Approach
It is disappointing to note that the vendor does not provide a proper explanation regarding the trading approach used for the signal generation. Other than the mention of new strategies and analysis using technical indicators we could not find details related to the specific methods used. This nondisclosure makes the service look unreliable.
No backtests are provided by the vendor. While it is a known fact that backtests are predictive of the future performance of an FX trading tool, they help in knowing about the trading approach used. Even if they are based on historical data, several details like the spread, slippage, commission, profit factor, etc. help identify the efficacy of the strategy. Without backtests, we are unable to carry out a proper analysis of the service.
Easy Forex Pips Live Trading Results
A real USD account using the IC Markets broker and the leverage of 1:30 on the MT4 platform is displayed on the official site. Here is a screenshot of the results of this Myfxbook verified site.
From the trading stats, the total gain percentage is 286.43% while the absolute gain is 11.03%. Such a drastic difference in the two profit values indicates a poor strategy and performance. Other stats of interest in this account include a daily and monthly return of 0.21% and 6.58%. A drawdown of 16.55% is shown for this account.
Many of the details like the balance, equity, interest, deposits, etc. are hidden and the same is seen in the advanced stats and the trading history. Such hidden data raises suspicions of the performance of the system. Furthermore, the account has stopped trading in April which confirms that the strategy and track record is not good.
What are The Risks With Easy Forex Pips?
From our analysis of the trading results and the info provided by the vendor, we find that this service is not a reliable one. Our reasons for doubting the safety and reliability of this signal provider include:
- Lack of vendor transparency
- No backtesting reports
- Hidden data in the verified results
User reviews for this service found on the Trustpilot site are mostly positive. Here are screenshots of some of the reviews.
From the reviews, it is clear that the signal provider is accurate and profitable. While the users feel that the signals are easy to trade, one user mentions that the stop losses are big.
What are the Pros & Cons of Investing in Easy Forex Pips?
|Daily signals||Hidden data in results|
|Alerts on Telegram||The strategy is not disclosed|
|No money-back guarantee|
It is obvious from the above table of pros and cons that the signal service does not meet some of the key criteria that make such a service reliable.
Easy Forex Pips claims to provide returns of over 4000 pips per month. From our analysis of the features, trading results, and other details that the vendor reveals, we find the service is not to be trusted. While the vendor presents us with verified trading results, most of the details are hidden, which reveal that the efficacy is not as good as the vendor claims it to be. The lack of explanation of the strategy used, absence of a strategy tester report, and no refund offer further confirm our decision that it is not a reliable service.
Score for criteria:
Overall Score: 3.8/10