Pips Alert is a traders’ community with a worldwide presence offering signals that help you in achieving better returns. Besides the trade alerts, the company also provides other FX tools like a free training course that helps in the growth of the community members. A team of experienced traders is responsible for signal generation.
Is investing in Pips Alert a good decision?
As per the vendor, the service helps you with FX tools that enable you to receive higher returns. To check the veracity of the vendor’s claim, we have analyzed the various characteristics of this service including its strategy, performance, support, and more. The vendor boasts of backtesting and performance proof. But there are no verified results present. We could not find a detailed strategy tester report. The lack of verified proof and backtesting raises suspicion on the reliability of the system.
According to the info provided in the About Us section, this company was founded by two traders from the UK and the US. The firm has since then expanded with members present in Tokyo, Canada, and other countries. Now nearly 43 countries have access to the company’s services. Over 3200 members are part of its community and 923 students have enrolled in the training courses that the company offers. The vendor does not provide info on the location and phone number. For support, an online contact form is present.
The key features that the vendor claims set this company apart are:
- All signals are generated by the experienced traders who go through an evaluation period of 9 months before generating the signals.
- A free training course that helps you get maximum results with the alerts provided by the company is given.
- An average of more than 4,500 pips is assured every month by the service and the alerts are sent via the London session and the NYC session.
- The company re-invests in tools, support staff, and traders to ensure you get a profitable environment that helps you meet your long-term goals.
- Pricing packages are affordable and can be upgraded from the basic package if needed.
There is no info on the strategy used for the generation of trade info. While the vendor mentions backtests, there are no reports present. Instead, a couple of backtesting videos are present which do not provide important details that help us assess the system.
For using the service, you need to first enroll in the services, set the software on your computer or mobile phone, and start receiving the signals to trade. The alerts are sent via SMS or email and also through notifications on your browser or desktop.
The vendor offers two packages. One is the Venture X package that provides 15 to 20 long-term signals every week and assures 1.5 to 3.5k pips per month. The package costs $59.95 per month. The second package is called Investor X. It offers features similar to the former package and costs $59.99 per month. A target pip count of up to 3000 pips per month is assured with the Investor X plan. When compared to similar systems in the market, we find the price is expensive.
The vendor fails to provide performance proof. Although a separate section is present for the performance and testimonials, the section under trade history appears blank. Moreover, the verified backtested trades button does not work. The lack of verified proof raises a red flag for this service.
We found 15 reviews for this service on the FPA site with a rating of 4.145/5. Here are a few of the user testimonials:
From the positive review, it is clear that the service offers good courses but does not provide proper updates on the signals which makes it difficult to trade. The second review is a long one that lists the reasons why this is a bad service. In short, the user mentions that the money management used by the company is poor and can result in big losses.
Pips Alert claims to provide users with powerful FX tools that help in maximizing returns. We find the vendor offers a diverse range of features like MT4 compatible signals, trading on currencies and commodities, an online dashboard, and professional support. But there are no verified performance results present although the vendor provides a separate section to display the performance proof. There is no mention of the strategy used and we could not find backtesting reports for the service. Further, when compared to the market average, the subscription charges are expensive.
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