FXZIPPER is a Forex EA that promises approximately 6-12 pips with each trade and works with all types of brokers. It claims to be a profitable system that works equally well for demo and live accounts while allowing you to trade in 8 different currency pairs. But, is this a Forex robot you can trust? This review performs an in-depth analysis of this robot’s different aspects to help you decide.
Is FXZIPPER a Good EA to Invest?
Some of the factors we take into account while analyzing a Forex EA are live trading performance, backtesting data, trading strategy, vendor transparency, customer reviews, pricing, and features. We have studied each of these aspects objectively to determine whether this system is reliable or not. Our initial assessment tells us that this is not a scam, since it provides backtesting data and live trading analysis.
But, that being said, FXZIPPER has plenty of room for improvement, especially in the vendor transparency, trading strategy, and customer reviews departments.
The presentation on the company website is quite brief, yet informative. There are some details about how the scalping strategy is applied by the robot for extracting profits. Additionally, the pricing details, pairs, and main features are outlined clearly.
When it comes to vendor transparency, however, FXZIPPER doesn’t give us much to go on. It is a complete mystery who the developers behind this Forex EA are or where they are located. Some Forex traders do look for these details while searching for a profitable system and they might find this disappointing.
FXZIPPER claims to be a broker-friendly system using unique technologies and live statistics on a real account. The scalping method involves earning small pips with every trade so that the orders can be closed in profit without keeping them in the market for too long. This Forex EA uses a timeframe between 15 mins and 3 hours and lets you trade in currency pairs like EUR/CAD, EUR/CHF, GBP/AUD, GBP/CAD, GBP/USD, USD/CAD, AUD/CAD, and AUD/USD.
Sometimes a trade signal may lose its profitability due to requites or sudden increases in price. Thankfully, FXZIPPER has the ability to delay the entry if such an event has occurred. This Forex EA always aims to earn the maximum profit possible, and it looks for the best price in order to do so. You have the option of enabling and disabling this setting that saves you from entering trades that won’t provide you with gains.
Apart from the mention of the scalping strategy, there are no further details on the website regarding how the trades are placed. Forex traders always look for an in-depth analysis of the trading strategy, but there is no information to be found anywhere about the strategy used by FXZIPPER. Thus, we think the developer should consider supplying this information in the future.
You can purchase the FXZIPPER software for $345. The features included are different software versions for MT4 and MT5, free updates, user manual, 24*7 customer support, and a single lifetime license. A 30-day money-back guarantee is offered, which means you get a full refund if you let the company know, within that period, that you are not satisfied with the system’s performance.
If we compare the price with other Forex EAs on the market, $345 is quite expensive, even for a lifetime license. But, considering the profitable trades being made by the live trading account, it can be worth the high price tag.
Providing verified and live trading results is a must for any Forex EA that wants to be taken seriously. FXZIPPER provides us with a live trading account verified by Myfxbook. It is a Real (USD) account that runs on the MTrading broker.
As you can see from the above figure, this account has generated a gain of 124.37% with a total deposit of $500.52. The drawdown is a low 13.33% and the daily and monthly gains are 0.18% and 5.61% respectively. To date, 712 trades have been placed using this account, among which 586 have been won and 126 have been lost, thus bringing the profitability to 82%.
Along with live trading results, we also have backtesting data. The above data shows us that a profit of $125046 has been made from a deposit of $2000 on the EUR/CHF pair. So, as far as trading results and backtesting data are concerned, there is no cause for complaints.
We were unable to find any user reviews on third party websites like Forexpeacearmy and Trustpilot. This could be because it’s a relatively new service that not many people know about. We think FXZIPPER still has a way to go before it has earned a reputation for itself.
To summarize, we think this system is not perfect but it holds a lot of potential. The live trading results alone are enough to convince a Forex trader that FXZIPPER is capable of generating profits consistently. But, there are areas where the company needs to improve, such as vendor transparency and strategy insight. Overall, we don’t think this is a total scam, but you should still be wary while investing in it, purely due to the lack of information.