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We haven't tried the EA from PipAndroid.com. If you've let this software trade forex for you, please leave a review here.
Update: The FPA has begun a performance test of this EA on a demo account. Please click the link towards the upper-left to follow the results.
Alex, Austria
Rating:
Date of Post:
2010-03-09
Review:
well the same thing here -firsti asked them to show a comment line with each trade - then i told them that the a no comment line situation will be a knock-out criterion for me - after that they did not react on 2 helpdesk inquiies and plimus started the to the vendor rediredt game ...
if you want to look up my conversations via paiandroids "helpdesk" system : http://pipandroid.com/support/view.php?e=ahab666@gmail.com&t=530229
i call the whole thing unethical and/or an unprovable SCAM
i wonder if plimus is aware of that situation or if they even care ...
Steven A Heinze, montana
Rating:
Date of Post:
2010-03-05
Review:
This program is terrible. Not only does it not work as advertised(it is losing consistently) but after 4 requests for a refund the vendor has continued to stall and has not provided a refund. Plimus is no help as they let the vendor stall and not honor their guarantee
woodsman1, new york
Rating:
Date of Post:
2010-02-10
Review:
The company has no telephone contact so if you have a tech issue and can't make sense of the loading instructions, you'll have to wait 1 to 2 days for each request for tech support, you have absolutely no way to speak with a real person for help. It would seem like they would provide a support number to the customer but there was none. Furthermore, PipAndroid is only allowed to give trade signals on two currency pairs, EUR/CHF and AUD/NZD. It signaled one short trade and one long trade in the past 18 hours in each of the pairs mentioned. Today, 02/10/2010 the short trade closed at the profit target and the long trade is still on. It gave no signal on the 1 hour bar chart of the EUR/CHF which looked like it should have prior to a healthy but brief down move of 1.886862 down to 1.46495 which by a scalpers standard would be a good piece. I can't say it doesn't work as I just got it yesterday and am unable to know if it's capable of more action just yet. So far my biggest grip is no human contact is possible with this company and I have issues.
Bill, Texas, USA
Rating:
Date of Post:
2010-02-09
Review:
I urge much caution at this time.
I puchased the product today (9 February). It is billed as a scalper for EURCHF and AUDNZD. The price is $127 through Plimus with a 30-day return policy. The website tries to upsell a "Breakout" additional EA for $77 during the sale process. The product comes as a downloadable ZIP file, or as an MSI installer. There is a minimal user manual included in PDF form, as well as optional indicators.
The user inputs include TP, Order Spacing, Pair Floating Loss (primary means of closing orders), and GMT adjustment for backtesting. It also includes a stealth mode and manual lot size inputs. Notably there is no SL placed on the orders. The EA stops trading when it reaches a user Max Profit amount.
I ran backtests with all default settings as recommended in the user manual for EURCHF from both IBFX and RFXT(Royal Forex). The period was 1 January to 8 February, 2010. The results were bad, IBFX Mini lost 2% with a drawdown of 5.5%. RFXT standard lost 6.6% with a drawdown of 11.7%.
I ran varied several of the user inputs individually in optimization without ever producing a profitable run. After over 1 hour of backtesting I gave up and requested a refund.
The vendor replied to my refund request with a reference to a backtesting site: http://forextoolshop.com/index.php?option=com_content&view=article&id=70
He also postponed the refund request. I replied to his postponement and repeated my request for a refund. I will update this review when the refund is paid.
I could be mistaken, but I believe this is just another marketing exercise with a questionable trading strategy.
Risk Warning. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all
investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in
foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite.
The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you
should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign
exchange trading, and seek advice from an independent financial advisor if you have any doubts.
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