ButaPips.com Review

I am also experiencing the same issue as Raju. I lost around $2500 (plus two month fee). Their performance page is so unreal. Btw, their website has been on and off very often lately. Stay away from Butapips!

Butapips results are fake. I took the trade copier a month back. End of Jan 2013 to be exact.
I lost $3000 (including $599 fee) in one month because of their trades. They dont work with Trends, I see.
Winning Trades, they take 30-50 pips. Loosing Trades, they will wait for 150-200 pips. THey had the myfxbook account (that to demo account) which shows all the trades, graphs. But now they deleted. They claim that they will put live account in myfxbook. In last week (end of Feb) they trades my $3000 account and balance is $500 now. Close of Margin call. Obviously no reply to emails, if i ask them. I posted few facebook comments and they ruled out. I dint see those comments. Probably they deleted.

Just for 30-50 pips sake they cannot go against the trend. I made close to 440 pips myself just following the trend, and their trading took everything and put me close to margin call. Probably its my mistake to go with any signalling services. Better do the analysis myself and lose all the money because of my mistake, atleast I will have the experience of my mistakes.

Guys,
Note the reviews in here, these people do not report the reality. I have been using them for a couple of months (mainly because their real results in month 1 were so poor they offered a free month) and it is impossible to get anywhere near their results. Don't get taken in. When you review their past performance you think you can make millions but their results are not accurate and their MM make it impossible. You are better off tossing a coin. Avoid at all costs.

Do not go with there performance page, If trade hit 10 pips then if hit SL they will update +10 pips in there performance page, they won't update SL. they only update trades goes in positive. Sometime they update positive even trade doesn't hit.

Wasted my Money!!!

totally fake, SCAM, their signals are not real and they hide negative result if it too much, their profits are not real except 15 pips.

There are a few things I would like to comment:
1) Service: I got my SMS within 1 day of subscription to their 2 DAYS signals trial package at USD9.99. When I emailed them on the day I subscriped, they replied promptly enough that I will receive it on Wednesday & Thursday, since I subscribed on Tuesday
2) Smooth delivery of signals, with clear EP, SL, TP levels and you have to read their how to and choose a signal package of 10pips TP or 20pips TP in order to place your TP. They also advised using trailing loss of 10pips to preserve your 10pips breakeven
3) 1st trade sent out on USDCHF did achieve at least 10-12pips as per their performance page of that day.
4) 2nd trade actually went to SL of 30pips, but their site claimed 20pips. Since I set trailing lost of 10pips, there is NO WAY that the trade had hit TP!
5) Conclusion: Its either their fill or price tracking is based on chart and NOT on actual brokerage fill or its a scam of their results.

With a TP of either 10 or 20pips and SL of 30, NO way they could have achieved 1000's of pips per month. Coz just calculate it, they had a 80-90% success rate for their signals, so 80% of trades with a 20pips profit (provided u choose 20pips).

Assume there are 10 trades/day, thus, (that is, 8 trades would hit TP based on 80% success rate and TP=20pips)=160pips, and (2 trades will hit SL based on 80% rate)=-60pips, net=100pips.
So about 20 trading days,=2000pips after subtracting the losses. (that is, NET 100 pips per day * 20 trading days). Thats how they can claim 1000+pips per month.

But think properly, do they have 10 trades signals sent out! Look at their performance page and realised its almost 1-2 trades PER DAY (even they claim this that wont sent any signals unless previous trades ended either in TP or SL)

So, 20 trade days, assume 2 trades per day and 80-90% success rates:
20trade days * 2trades/day * 20pips (TP)=800pips.

That is, 40trades total/mth

If it is 100% successfull, you would get 800pips/mth

If it is 90% successful, you would get (40trades*90%=36 trades hit TP, 4 trades hit SL)
=36trades*20TP=720 SUBTRACT 4Trades*30SL=120, NET=600pips

If you had chosen to use TP of 10pips===>
36trades*10TP=360 SUBTRACT 4trades*30SL=120
NET=240pis

AS you can see for yourself, based on mathematical calculation, it is just NOT possible to have 1000+pips per month, when there are only about 20 trading days per month (or 22-23 to be more exact, not forgetting that major holidays also affect trading days, besides weekends) and only 1-2 trades PER DAY, and a success rate of 80-90% and a SL of 30pips and a highest TP set at 20pips

Summary: With such a TP, SL setting it is simply NOT WORTHWHILE trying the service. Luckily their policy is NOT to charge me after the trial and if I do not reply or subscribed within 10 days AFTER the trial it is permanently cancelled. As of now, they still did not charge me sneakily.

YOU HAVE BEEN WARNED! If you are not still skeptical that I am maybe slamming them just for fun, why not take a moment, a calculator and dig out some primary school 2nd grade maths book and go through percentage and followed my calculation. Go to their sites, SEE for yourself that they claimed only had 1-2 trades per day, ask yourself how many trading trades per month by counting the weekdays (that is, Monday thru Firday) in a 30 day month. (Since there are usually 30days month except Feb, 8 weekends per month, thus, there are abt 22-23 trading days, since there are also 31days month). Understand for yourself their TP of either following 10pips or 20pips TP and their SL of 30pips. Then be my guest before you jump into conclusion of anybody's comments without any figures, acceptable calculations, reasonable basis (on their own performance)!!
There may be some comments just simply telling u they are unhappy, and in short form regards the differentiate between TP and SL levels. It is quite confusing when you do not see the maths in "motion". With this, I hope u have now more knowledge and smarter than to DEAL WITH THEM

With their pip count & MM, you'll NEVER make ANY money with these so called 'pros'. Waste of time and money, PERIOD! Don't be fooled by the performance page.

NOTE: This issue has been resolved. The FPA thanks everyone who participated.

Hi All,

I am writing to let everyone know of my recent experience with www.butapips.com

Butapips claim on their website result approx. 1000 pips per month (with various "money back" guarantees if they don't achieve this). Showing "live" results on their site.

On the 3rd August I signed up for their "Trade Copier - GOLD Package" at $1599USD per month. They immediately emailed me with a "more profitable" option..."Buta investment". I asked why use this instead of trade copier and their response was "we would recommend you to use Buta Investment as it is less risky and as Butapips team we would manage it as professionals."

They wrote that this service only costs $399 but has a 25% profit sharing per month. I agreed and gave them my username and password for my trading account. At this point they offered to refund the $1200 difference between the $399 and what I had paid ($1599) or they said they could take it out of the profit sharing at the end of the month. I opted for them to take it out of the profit sharing...which was a mistake.

They traded my account for a month and lost 15% of my account while reporting HUNDREDS of pips profit on their website. When I questioned them about this they told me

"Don't worry about your deposit.You will see much profit in your account soon. Please be patient." so I was patient for a month. Unfortunately when I opened my MT4 twice some trades where put on my account for a short time from an old EA I still had active. They asked me to not trade the account or they would stop...I agreed that this was fair and closed the trades immediately.

At the end of the month I changed my password and was a few thousand dollars poorer in my trading account for the experience (nothing disastrous just 15% all told). They offered to trade my account in September for free for which I thanked them, and declined, and said that I'll just take my refund. I have not been able to get a response from them since. I have sent 6 emails in the past 2 weeks to ask about my $1200 but they are ignoring me and I can only presume they have decided to STEAL my money.

Well, that's it, as factual as I can be without injecting all the emotion that I feel into a rambling tirade of abuse aimed at them. So instead I offer this warning and just perhaps they've "forgotten" to give me my money and my emails have been lost in their SPAM folder....perhaps.

Josh

join them if you have too much money in your account and don't mind losing it. their signals are totally useless. lose more than profit! and money back guarantee? just forget it. they won't respond to your refund. the history performance in their website www.butapips.com is totally made up by themself. the signals they send out is totally different from the profit they claim for the time frame.

Dont trust them. I asked for a refund as was not happy with performance or service. Says Money back guarantee on the website. All they did was stop sending me signals. No refund of the subscription. And they still keep sending me emails if one of their trades wins. Read their terms and conditions. Says " The results listed on this website are based on hypothetical trade results. Plainly speaking, these trades were not actually executed. Do not represent actual trading". Its all on their own website. Just got to read the small print.
Their online live support is always offline. Check scamadvisor.com. They say "The owner of the website is using a service to hide their identity".
I would put the trade on within seconds of getting the SMS but then it was often too late and the trade was missed.
It is up to you to decide on when to take profit and the so called 'results' are only maximum pips that could of been achieved with their trade