The 1000pipBuilder company has a solid motto: “Trusted Forex Signals. Our Success Starts Here.” They insisted that there are mostly accurate Forex-related signals that are independently verified by myfxbook.
Is Investing in 1000pipBuilder a Good Decision?
Checking everything, including trading results, we’re sure that it’s not the right time to buy them. January 2021 trading results go to closing the month with a loss.
We know about Bob James – Lead Trader. It was introduced as our mentor. We are not sure that this person is a real trader. As for someone who’s a mentor, there should be social network profiles as proof. In addition, providing a myfxbook-verified demo or real account is a huge pro.
There are many features that are doubled twice during the presentation:
These signals are generated on the myfxbook-verified account.
They can be generated only by traders with a huge experience.
The system provides 2-7 signals daily.
An average monthly pips expectations are 350 pips approximately.
The system can work with fifteen currency pairs from twenty-eight.
The service has a five-star rate.
The developers deliver signals via email, Telegram, and SMS.
Signals have the standard format: Entry Price, Stop Loss, and Take Profit levels.
The system delivers signals during all trading hours five days a week.
The most-traded sessions are Asian, European, and American.
Signals are execution orders. We have to fill them in the terminal asap.
The vendor provides us with an easy-to-follow user guide.
We can rely on welcome and lighting-quick support.
A bit lower, there are three blocks about strategies behind the system:
The main strategy is trend-based trading. The system uses MT4 indicators such as RSI to spot trend trading opportunities.
Support and Resistance levels let us know where swing trading opportunities are
Momentum Rider is a strategy that generates signals for quick and big profits based on the High Impact News.
The vendor claimed that there were 6500 pips during a two-year test. Alas, we can’t check this claim because the chart is unclickable. So, if no backtest report is provided, this statement is a lie.
From the start of the presentation, we mind the 20% January discount.
To claim this discount, we have to share personal info about us, including a phone number for getting access to the Telegram channel.
There are three packages introduced: one-month, three-month, and annual subscriptions. The one-month subscription costs $97. The three-month subscription costs $227 (we can save $64). The Flash Sale annual subscription costs $497 with $667 OFF. We couldn’t find any sign of the money-back guarantee.
The robot worked with a demo USD account on IC Markets using technical indicators from the MetaTrader 4 platform. The leverage was 1:500. The account didn’t have a verified track record, so there could be removed parts of the trading history. It was created on June 12, 2019, funded at $3000, and never withdrawn. Since then, the absolute gain amounted to +87.86%. An average monthly gain was +8.61%. The maximum drawdown was high – 29.93%
The EA has closed 534 deals with 1935.0 pips. The average win was 28.91 pips when the loss was -28.31 pips. The win-rate was 54% for the BUY direction and 57% for the SELL direction. The average trade length was one day. The Profit Factor was 1.21.
1000pipBuilder worked with six symbols: AUD/USD, EUR/JPY, EUR/USD, USD/CAD, USD/CHF, and USD/JPY. The most frequently-traded was USD/JPY – 285 deals. The most profitable symbols were EUR/JPY – $1282.41 and USD/JPY – $1283.05.
The robot traded during the Asian and European trading sessions.
The most-traded day was Thursday – 158 deals. It’s weird that Wednesday was the less traded one.
It worked with medium risk to the account balance.
History is private. We’re not allowed to check it.
The last month of the trading activities was a year ago, in January 2020. It was closed with -0.31% changes to the account balance.
We’ve checked these links. Many links like on the Investing site are fake.
The presentation is featured by several positive comments. We’re sure that these faceless testimonials are fake too.
Strategy – score (4/10)
Functionality & Features – score (2/10)
Trading Results – score (2/10)
Reliability – score (2/10)
Pricing – score (2/10)
The single positive moment about 1000pipBuilder is that the vendor explained the strategy well, but the rest is a scam. First and most crucial, the demo account trading was stopped a year ago. Is the developer alive? You have to ask this question to support. Second, there are only subscription-based prices without free signals to check and refund policy.