FXAutoPips is a new automated trading software that guarantees 14pips per trade. The cost of FXAutoPips is $255 but the robot recently had a significant drawdown that makes them lose a huge percentage of their gains. Good thing is that FXAutoPips was developed under the inspiration of scalpers, but it is actually not a scalper EA. ”It trades during the night time, waiting for the price to reach a certain range, which is calculated by our algorithms”.
The FXAutoPips is compatible to any broker and does not require any special condition. They claim that the robot earns about 14 pips from a trade.
The vendor’s sales page suggests that FXAutoPips is related to the ForexStore website. However, the software developers of FXAutoPips have never been introduced anywhere on the sales page.
We feel that introducing their EA coders and traders would have gone a notch higher in creating an environment of trust between them and their clients.
- FXAutoPips is a program that claim to automate Forex trades. It’s like putting a plane on auto pilot. Traders can sleep through the night calmly knowing that their trades will be placed exactly at the times they designated. Sounds easy, right?
- Forex robots like FXAutoPips are getting a lot of hype of late and Forex robot scams are not far behind.
- Most Forex robot scams are easy to pinpoint and would seem obvious to any investor. But even with blatant false promises of huge profits “while you sleep” millions of dollars are dropped into these Forex robot scams every day.
During our reviews of the FXAutoPips EA, we saw that the developer website is straight forward and quite upfront when it comes to the nature of the EA. Traders looking for a serious automated Forex trading software can quickly believe that they’ve found what they’re looking for. It immediately becomes clear that FXAutoPips is non-scalper, non-martingale and does not trade often. The EA uses a loss recovery mode, in case StopLoss is reached.
For us, we need more details on the actual software methodology to be sure that we’re recommending the right expert advisor, not an EA with a convincing sales page.
FXAutoPips can be said to be at least considerate because they’re providing a myfxbook account for result analysis.
The best thing that a trader can do is to analyse the result first before they can commit any payment to the project.
Now, there is a major dipping of the software performance just recently. This kind of drawdown can blow a trader’s account in a single day.
They’re also showing us screenshots of the EA backtesting result to create the impression that FXAutoPips never lose.
With this kind of presentation, it becomes quite difficult to verify the alleged trading results. That is why we always insist that EA developers must use a statement sharing service like myfxbook.com.
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Because Forex trading is still relatively unregulated, the number of scams seem to be ever-increasing. One area in which this happens on a regular basis is with signals/ automated Forex trading bots. Many of the systems make some pretty unrealistic claims, and promise a successful trading career, even when you’re asleep. They even seem to be able to publish positive results on their sites. However, a word of warning: These amazing results are often the result of back-testing, or based on hypothetical results.