Forex Pip Wizard Signals Reviews

Forex pip wizard signals reviews

Forex pip wizard signals reviews

Pip Wizard Review – Good Signals or Scam?

July 13, 2018|sergio|

Welcome to the Pipwizard review. Pip Wizard is a Forex signals provider boasting of 4,899 active members in some 221 countries.

This Forex signal provider is also introducing their ”new smart data scanner technology” which they claim will give us the most accurate trade setups ever.

Pip Wizard claims that their Forex alert service has a win rate of at least 85% and also claims an average of between 200-600 in monthly pips.

Through their new smart data scanner technology (SST™), PipWizard believes that they have an edge over other signal providers in the Forex trading marketplace.

Another factor that allegedly gives them an edge in the Forex marketplace is their level of trading knowledge and experience.

On their website, Pip Wizard makes reference to institutional-grade Forex signals where they claim that they are working with both retail and institutional traders.

Pip Wizard (must not be confused with Pips Wizard Pro) is overseen by their mother company, Forex Services, LLC.

The sales page cites their physical address as CityPlace Tower, 525 Okeechobee Boulevard, Suite 950A, Palm Beach, FL 33401.

PipWizard also claims that they have been actively providing signals since 2006 – something that I find hard to believe because even the Alexa ranking of the domain pipwizard.com is not good.

Also, I do not believe that this signal provider has the stated number of active customers using their service since there is little to no information on the internet in terms of Pip Wizard reviews.

Support is restricted to office hours throughout Monday till Friday.

Pips Wizard Pro

To reach them, a contact form has been provided on their site for that purpose.

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Pip Wizard Review

PipWizard explains that their signal service is relying on trend following and basic price action trading principles.

Personally, I love price action trading because in my opinion, it’s the most accurate way to identify good trade setups in any chart.

In fact, I created a course that is based on price action.

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Check it out here.

Signal services on the Pip Wizard website are broken down into 3 product categories – Euro Alerts and FX3 Forex Signals.

FxPro Swing Trading Signals is the most expensive service on this website.

The vendor tells us that this signal service is a long-term trading signals service.

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It is not different in the sense that they are all ”rules-based trend-following systems”.

To limit risks in the Forex marketplace, Pip Wizard informs us that the vendor is utilizing unique risk management approach called ”proprietary pattern filters”.

I must say that PipWizard is a little vague in terms of how they present information and describe their operations.

But still, they are better than most Forex signal providers which I have reviewed here.

Live discussion

Sky Pips is one of those FX signal providers that proved to be vague than the signal provider I am reviewing right now.

Pip Wizard Review – a breakdown of the product

Trading strategy is based on price action and trend following with focus on pairs such as GBPJPY, USDCHF, AUDUSD, GBPUSD and EURUSD.

PipWizard in trading on all time frames and charging a subscription fee of $49-$249 per month.

They have a signal service (Euro alerts) that is specifically dedicated to the EURUSD pair.

This one costs $49 and provides between 3-6 monthly alerts.

Euro alerts is promising between 200 and 600 pips every month.

FX3 signals provides up to 10 signals per month and caters for pairs like EURUSD, GBPUSD and USDJPY.

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It costs $149 per month.

 

Finally, the last package costs $249 (the most expensive of all).

It’s known as FxPro swing trading signals. It promises up to 10 trades per month on 5 Forex pairs. Monthly pips are between 500-900 pips.

PipWizard review- the Performance page

It is good that promises must be backed by action.

Pip Wizard Review – a breakdown of the product

Pip Wizard has provided a ”performance page” which looks very impressive at first.

In fact, some months have +1000 pips in gains.

However, there is no accountability in these trading results as the vendor is only providing us with a table of ”performance” which can easily be manipulated.

They could put any figure they like in this table. Besides, there are no most recent results for the month of June 2018.

This lack of transparency is a serious issue in the Forex trading marketplace.

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But I do not believe that it should be a problem anymore because we have third party verification platforms like Myfxbook.

The vendor can easily place the trades and show them their performance on Myfxbook.

PipWizard review – customer reviews

Generally, ratings are poor. Pip Wizard has ratings dating back to as early as 2008.

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So there could be a possibility that they existed in 2006.

When I go through these Pipwizard reviews, I see that most users claim that the performance numbers are false and that this service is a total scam.

Most clients here report that they have suffered consistent losing months while the signal vendor continues to report false profits in their performance table.

Pip Wizard review – the conclusion

I could have appreciated more transparency in how performance results are presented.

I cannot sign up because Pip Wizard is not being honest, and community feedback is extremely negative.

Whereas price action is a sound trading approach, I do believe that this service does not have a winning track record, and is therefore not viable.

If you have any comments or opinions, please write them below.

Thanks for taking time to read this Pip Wizard review.