Pipster FX Review Is PipsterFx.com Legit Or Scam

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Pip Ster FX Review: Is pipsterfx.com a Scam?

Pip Ster FX Review: Is pipsterfx.com a Scam?

1 Comments

Last Updated: Aug 12, 2020 @ 6:26 pm

Pip Ster FX is a Forex signal provider that believes they can offer profitable Forex signals only. They believe that they are the most Profitable Forex Signals and the Best and Most Proven Forex signals provider online. They also tell traders that their signals are often well planned. This is what they tell the community: ”Our pro trader panel is headed by Mrs. NeykovaFX. Our Team analyse the market & trade in the forex markets based on a well thought out plan. Our Strategy is based on Market moving mechanism, inter-market analysis and market flow analysis.”

The team is also assuring traders that their signals are safe to trade with since stop losses are always set at 50 pips away from entry. In fact, there is a statement on the website that informs traders how they conduct their trading. They claim the following: ”We always use stop loss and take profit to make the account secure from any unusual movement. All of trades place with three take profit levels and around 50 pips stop loss that ensure profit ratio with a very low Draw-drown. No high Risk Scalping, arbitrage in our trading.”

Pip Ster FX is also helping traders with risk management and this is quite obvious that they are targeting novice traders who don’t understand risk management quite well. This is what they claim with regards to risk management: ”As a best forex signal provider we tightly maintain risk management for long-lasting forex profit. We take around 3% Risk in a trade. We recommend a fixed lot on an account depending on the initial balance and risk percentage.”

Up to 300 pips is guaranteed on a weekly basis. This would translate to 1200 every month. Our target is to make +300 Pips in a week. Our guarantee is if we can’t make minimum +300 PIPs in a week or +500 Pips in 3 weeks, then we will extend your membership until we reach the guaranteed pips. This Guaranteed PIPs is solid pips, no partial closing or multiple TPs using. The real problem is to prove that these pips are authentic. If Pip Ster FX can prove that they are making these pips regularly, we can consider recommending or even including them in our list of the most popular trading products. So far, these products are the leading in terms of efficiently and stability in generating returns. If you are a trader, you should consider using them.

Pipsterfx Review

They trade daily 5-7 high probable and low risk trade set up. Pip Ster FX minimum target is 20 Pips for short-term and 100 pips for the long-term trades. They trade the following currency pairs EURUSD, GBPUSD, AUDUSD, NZDUSD and USDCAD. This means that there are some trades that last in less than 24 hours while other signals are basically trades that can last several hours if not days.

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The team is also claiming that they are providing unlimited support through email. This is a good thing because newbies always find themselves wanting to ask questions time and again and if there is a quicker way to communicate or rich these traders, it can be a good thing altogether.

Some of the features that come with Pip Ster FX signals

They claim to explore in depth and compared the trading results of members who use their FREE signals and those who use VIP signals and the results clearly show:

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VIP members follow more Forex signals, have more trading oppоrtunities and achieve better results.

VIP members open many trades per day and get every single signal.

VIP members compare their own analysis with ours and they can make better decisions on the market.

With signals on currency pairs our members can diversify their own portfolios.

VIP members receive information for changing the direction of each trading signal (early closure).

VIP members exit the market profitably twice as often.

Subscription plans

There are 3 subscription and Pip Ster FX wants you to choose any of the subscription plans they have depending on your needs.

The first plan costs $45 but the second and third plans will require traders to folk out $75 and $110 respectively. All of the 3 plans will provide signals through Telegram channel. However, the difference between the basic plan and the other two plans is that they offer money management tips and of course you are paying more because the second and third plans will remain active for 3 and 6 months respectively.

The benefits that Pip Ster FX offers to subscribers

They want traders to believe that using their trading signals gives huge benefits for everyone who is interested at Forex matters. They want traders to believe that their signals can be successfully used by beginners and experienced traders or used by people with a lot of free time for trading and for people who are quite busy.

Their signals are both easy and simplified method but on the other hand enough effective for everyone willing to make a profit especially when follows professional traders who know what they are doing.

Throughout this site, we find a lot of spelling mistakes and grammar errors. We wonder why Pip Ster FX couldn’t just outsource content for their website before presenting it to the trading community. It makes their site look unprofessional.

There is no minimum amount to invest. However, they want traders to know in advance that they are usually opening up to 7 trades a day meaning a sufficient amount of money needs to be present in your account to be able to run those trades while keeping your account safe. Their minimum recommended margin is £300.

Our best advice for you

Pip Ster FX isn’t a very popular service and secondly, they don’t have verified trading results to show us. We just don’t want to rely on testimonials published on their website because these could be fabricated by the owner of this site. We need to see people who use this service coming out in numbers to tell us about their experience. In the meantime, we are asking traders to invest with reliable services only.

ForexSignals.com Review Visit site

Live discussion

Join live discussion of ForexSignals.com on our forum

ForexSignals.com profile provided by ForexSignals.com, Apr 3, 2020

Founded in 2020, ForexSignals.com is a portal for aspiring forex traders to follow and learn from professionals, in real time.

The 24hr trading room features 5+ live daily streams from a team of experienced professional traders. During these streams the traders discuss the market live, take trades and provide trading advice to members within the room.

In addition to the trading room, there is also a comprehensive forex educational academy across 100+ instructional videos which take students from beginner to advanced trading techniques.

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Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Consumer Reviews

Service use: Live

Length of use: over 1 Year

Service use: Live

Length of use: 0-3 Months

Service use: Other

Length of use: 0-3 Months

Service use: Live

Length of use: over 1 Year

Unfortunately, it seems you have not watched any of our walk-through videos or looked around the trading room properly.

Yes, members of our community can post signals and trade ideas for others to view and for the mentors to comment on them, but mentors themselves contribute trading signals and it’s entirely up to you who you follow for their signals.

In fact, we offer a feature that allows you to get direct email notifications when a mentor publishes a signal or a trade idea.

Please feel free to reach out to our chat support if you feel like you need any help navigating the trading room or understanding the products! We’re available 24/7.

Best regards,
ForexSignals.com team

Service use: Other

We’re sorry you had a less than satisfactory experience with ForexSignals.com – please allow me to clarify some of the details.

Firstly, we do NOT charge your account before the trial expires. Only after your full 7-day free trial is done and you decide to stay we then deduct the amount, based on your plan, from your account.

The pricing is as follows – $97/month for the monthly plan, $297/6 months for the half-yearly plan and $567/year for the yearly professional plan. These allow you access to various levels of benefits (for example, we include a free 1-on-1 with Andrew Lockwood in the yearly plan!).

Our Trading Academy is designed for beginners as well as more advanced traders, that’s why you will also find very basic videos in there – we don’t want to leave anyone out! :)

Please accept our sincere apology for your inconvenience and should you decide to give us another shot, we’re happy to give you another free trial so you can experience the great value our service offers properly this time and stress-free!

Best,
ForexSignals.com Team

I visited the site the first time and went through it.

Length of use: Have not used

Service use: Live

Length of use: 3-6 Months

Service use: Other

Length of use: over 1 Year

Terrible name, Brilliant site to learn.
Well, 2 years past in November, so from not knowing anything, where am I now? Im 2 years into a 4 year degree is the short answer. Yes it takes 3 to 4 years to be successful at trading . I started with Andrew, then moved on to Mark. And there I will stay, focused on one style of trading . I would now consider myself a good trader, But there is so much more to learn to be consistent in a changing market. 2020 was hard for me, but that made me concentrate on the process. Thanks everyone associated with this site. Howard.

Oct 28, 2020 – 5 Stars I often drive 4 hours to go fishing with a Guide. He teaches Me how to fish, What to look for, Where to cast and what technique to use. I have been with forexsignals.com for almost 12 months, I have only been trading for 12 months, before that I had only heard vagley about the FX market. I was a complete newby. The Mentors , Especially Mark , Have taught me how to fish ! and I am now making a consistent Profit ! If your looking for somewhere to give you fish, this it not the place!
You must put in the effort and learn yourself !! I took this on as a business ,and structured It that way. I treat the education side as equivalent to a 3 year uni course ! Hard work, but I am dedicated to it. Everything you need to do this is supplied via over 100 videos ! Also you can message any of the mentors with a question. If it is to hard to answer in written form, They will show you in their next stream. The mentors stream at least once each a day. As I am in Australia , Mark is fist up in the morning for Me ! He looks at every pair before the stream and picks out potential trades, then shows you why he likes it , what To look for to enter, and what areas for your stop loss and take profit. He teaches you to fish for yourself .

Jun 2, 2020 – 5 Stars Well, It has been a gruelling 7 Months for me, But I can now comfortably trade on my own! Something that should have taken years. Yes I have been on the computer 12 to 14 hours a day, looking at charts, Using the training that Mark Andrew and Joel have provided. I knew nothing when I started, Never had anything to do with economics or trading of any type. I started from scratch, and these Mentors and the Forexsignals members took me under their wing and helped train me Well . You don’t need to go anywhere else to learn properly. But don’t expect free signals, They are there, But you are encouraged to learn and make your own analysis of the signals provided. Many of the signals go into detail as to why the decision was made to trade that pair. Trading is now My business, And forexsignals is a crucial part of it.

How to Spot a Forex Scam

The spot forex market trades over $5 trillion a day, including currency options and futures contracts. With this enormous amount of money floating around in an unregulated spot market that trades instantly, over the counter, with no accountability, forex scams offer unscrupulous operators the lure of earning fortunes in limited amounts of time. While many once-popular scams have ceased—thanks to serious enforcement actions by the Commodity Futures Trading Commission (CFTC) and the 1982 formation of the self-regulatory National Futures Association (NFA)—some old scams linger, and new ones keep popping up.

Back in the Day: The Point-Spread Scam

An old point-spread forex scam was based on computer manipulation of bid-ask spreads. The point spread between the bid and ask basically reflects the commission of a back-and-forth transaction processed through a broker. These spreads typically differ between currency pairs. The scam occurs when those point spreads differ widely among brokers.

Key Takeaways

  • Many scams in the forex market are no longer as pervasive due to tighter regulations, but some problems still exist.
  • One shady practice is when forex brokers offer wide bid-ask spreads on certain currency pairs, making it more difficult to earn profits on trades.
  • Be careful of any offshore, unregulated broker.
  • Individuals and companies that market systems—like signal sellers or robot trading—sometimes sell products that are not tested and do not yield profitable results.
  • If the forex broker is commingling funds or limiting customer withdrawals, it could be an indicator that something fishy is going on.

For instance, some brokers do not offer the normal two-point to three-point spread in the EUR/USD but spreads of seven pips or more. (A pip is the smallest price move that a given exchange rate makes based on market convention. Since most major currency pairs are priced to four decimal places, the smallest change is that of the last decimal point.) Factor in four or more additional pips on every trade, and any potential gains resulting from a good trade can be eaten away by commissions, depending on how the forex broker structures their fees for trading.

This scam has quieted down over the last 10 years, but be careful of any offshore retail brokers that are not regulated by the CFTC, NFA, or their nation of origin. These tendencies still exist, and it’s quite easy for firms to pack up and disappear with the money when confronted with actions. Many saw a jail cell for these computer manipulations. But the majority of violators have historically been United States-based companies, not the offshore ones.

The Signal-Seller Scam

A popular modern-day scam is the signal seller. Signal sellers are retail firms, pooled asset managers, managed account companies, or individual traders that offer a system—for a daily, weekly, or monthly fee—that claims to identify favorable times to buy or sell a currency pair based on professional recommendations that will make anyone wealthy. They tout their long experience and trading abilities, plus testimonials from people who vouch for how great a trader and friend the person is, and the vast wealth that this person has earned for them. All the unsuspecting trader has to do is hand over X amount of dollars for the privilege of trade recommendations.

Many of signal-seller scammers simply collect money from a certain number of traders and disappear. Some will recommend a good trade now and then, to allow the signal money to perpetuate. This new scam is slowly becoming a wider problem. Although there are signal sellers who are honest and perform trade functions as intended, it pays to be skeptical.

“Robot” Scamming in Today’s Market

A persistent scam, old and new, presents itself in some types of forex-developed trading systems. These scammers tout their system’s ability to generate automatic trades that, even while you sleep, earn vast wealth. Today, the new terminology is “robot” because the process is fully automated with computers. Either way, many of these systems have never been submitted for formal review or tested by an independent source.

Examination of a forex robot must include the testing of a trading system’s parameters and optimization codes. If the parameters and optimization codes are invalid, the system will generate random buy and sell signals. This will cause unsuspecting traders to do nothing more than gamble. Although tested systems exist on the market, potential forex traders should do some research before putting money into one of these approaches.

Other Factors to Consider

Traditionally, many trading systems have been quite costly, up to $5,000 or more. This can be viewed as a scam in itself. No trader should pay more than a few hundred dollars for a proper system today. Be especially careful of system sellers who offer programs at exorbitant prices justified by a guarantee of phenomenal results. Instead, look for legitimate sellers whose systems have been properly tested to potentially earn income.

Another persistent problem is the commingling of funds. Without a record of segregated accounts, individuals cannot track the exact performance of their investments. This makes it easier for retail firms to use an investor’s money to pay exorbitant salaries; buy houses, cars, and planes or just disappear with the funds. Section 4D of the Commodity Futures Modernization Act of 2000 addressed the issue of fund segregation; what occurs in other nations is a separate issue.

An important factor to always consider when choosing a broker or a trading system is to be skeptical of promises or promotional material that guarantees a high level of performance.

Other scams and warning signs exist when brokers won’t allow the withdrawal of monies from investor accounts, or when problems exist within the trading platform. For example, can you enter or exit a trade during volatile market action after an economic announcement? If you can’t withdraw money, warning signs should flash. If the trading platform doesn’t operate to your liquidity expectations, warning signs should flash again.

The Bottom Line

Conduct due diligence on the forex broker you’re considering by going to the Background Affiliation Status Information Center (BASIC), created by the NFA. Many changes have driven out the crooks and the old scams and legitimized the system for the many good firms. However, always be wary of new forex scams; the temptation and allure of huge profits will always bring new and more sophisticated scammers to this market.

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