Smart-Pips.com Review

After Smartpips lost half my account I stopped using it . I tried all my best even using VPS very close to broker with low spreads and fast execution backtesting optimizing with MT4 , setting GMT as advised by Smartpips , because this EA is VERY sensitive to the correct GMT you also have to consider DayNight Saving.

I also examined Smartpips EA trading account and find the following :

15 May 2014 : A rather big deposit was made which is MISTAKEN AS PROFIT and is displayed in the trading graph boosting the account.
At this stage the EA was making losses at the FPA test , and then the test was stopped by Smartpips - then suddenly the test was resumed after the deposit , boosting the account.
(This actually happened just a few week after I bought this EA)

01 Aug 2014 : The account had a few bad trades and Smartpips EA Suddenly made a very risky trade with lots of 13 x times more than normal 0.80 (Normal lots was 0.06 at that stage based on the previous trades) . But The EA was actually very lucky to make a Huge profit and not blowing up the account with this such high risk lots. I am not sure also if Smartpips EA is programmed to suddenly trade very big lots x13 times bigger ? I have bactested this EA so many times but never picked this up.

I don't think this EA deserve a 4star as currently rated I shall give it 1star only and I shall not use it again - considering the unstable trading graph this EA could be risky and considering the attempts made to boost the account.

I think that is a good EA for long term investment. 5 years backtest is successful. 4 positive months on my Activtrades live account. No moneyback warranty, but EA is not expensive.

Dear,

Settings for the adviser one.
I don't change them 5 months on real.
After payment all receive them together with EA

I use now Alpari NZ - http://alpari-forex.com/
Server - Alpari-Standard3.
Problem in an exit of important economic news.
In the normal market of a difference won't be.
But on fast different servers give different values of spread.
On May 15 the adviser made a position which by 10 times exceeds a risk level in settings.

In hospital I couldn't react to it in time.
It is a position only on my account.
At all clients the adviser opened on the risk specified by clients.
At me in settings was to specify 0,02 lot it opened on 0.2 lot.
It brought me into shock.
I began investigation.
I wrote to the broker.
They told that it not their wines.
The answer came from VPS. They told that they had failure and reset.

I have used this EA for a long time and came to realize that when you expect large shifts in trend or lack of momentum in the market, to turn it off. You will actually avoid losses this way. Do not trade big speeches and use common sense. I honestly don't think the vendor is being shady and this has to due with the politics in his homeland at the moment. If you calculate the maximum amount of drawdown on a stop size of 150 pips, his drawdown shouldn't be that large unless something has happened in which he is unable to control. Again, EAs are a tool and should be monitored by their users. Always watch your lot sizes to control your drawdown and if you see a hanging trade you do not agree with, don't hesitate to cut it loose. When a trade is executed based on this strategy without momentum and follow through, you have a larger chance to fail.

There seems to be some "gaming" of the ea test results here. The statement hasn't unpdated in 24+ hours and it just so happens this system is currently in a trade with a rather deep draw down. This never happens when the system is winning... I wonder why...

Review Moderation Team Note: The investor password the FPA uses to monitor the results was changed by someone at Smart Pips. An inquiry has been sent to them. In the meantime, the test has been stopped.

Lately some small wins followed by huge losses - like today May 15th.
Maybe Sergey is distracted by the political tension and violence in his Ukraine homeland.
I would advise extreme caution trading with this EA now.

F from London and R Aussie needs to change their Brokers. Open an Exchange account with Armada (very low spread and a small commission fee) and you will see your account even outperforms the FPA account. By receiving 3 EA activations with one purchase I have two live accounts and both are higher in monthly gains then the FPA account. This is the first EA I had that actually is making a profit consistently yes there are losses sometimes but my profit factor is still above 6.8. Therefore it is difficult to understand what you experience because if you stay with the EA default settings the only conclusion could be that you are with the wrong Brokers.

I wish to respectly reiterate that I have run live account with 3 live accounts, including Alpari UK, with the recommended settings and the results are nowhere near as good as those on the FPA test. Can we be informed what type of Alpari UK live account so we can migrate there? I don't know of any that trades Russian Rubles?

Review Moderation Team note: The account is not trading rubles. It is denominated in rubles. Please ask support at Alpari and Smart-Pips support for more details on what type of Alpari account it is.

2014-05-07 No rating I completely agree with R from Australia. These so called "live" tests on FPA (and myfxbook) do not in anyway portray the results one gets with real live trading with a steady stream of losses never seen on the FPA. So at best these tests are misleading. I think FPA should cease and desist or label them all as demo accounts rather than calling them "live tests". Its always galling how each EA including this one falls flat as soon as you buy it and let it operate with real money. BUYERS BEWARE!!

Review Moderation Team Note: The FPA always checks Performance Test submissions to make certain that they are on live accounts. The account for this test is running on a live server at Alpari UK. All trading information on the PT page is pulled directly from the broker's MT4 server. If you know a way to fake that, please use "Contact Us" and let the FPA know.

Good points: Sergey responds to email within a day, sometimes very quickly; EA backtests fast and more or less matches seller backtest (slight variation for broker); simple operation that seems clever and logical.

Bad: There's no consistency across brokers or demo/live accounts. I've run on 5 accounts simultaneously, and on the occasion the live accounts have the same result, it differs to the official MyFxBook account. Typically there are more trades and more losses on most live brokers. My demo account resembles the vendor's MyFxBook account, but isn't the same.

Today, for instance, i had 4 trades across each live broker. Each had slightly different outcomes, though all lost more than they won, a couple 9-12% more, one losing over 20 times more.

Because of this inconsistency, i can no longer run it live. Apart from the demo account i run, and less so one of my live accounts, results differ markedly to the vendor's MyFxBook account, so i can't predict how it will behave.

While the vendor's account is rocketing up, my demo account more or less matches, but apart from one live account which has made a modest return, the others are either going backwards or nowhere (winnning and then losing the winnings).

I thought this sort of broker variability was something reserved for scalpers. Sadly, my experience with this EA tells me that's not the case.

I WANT TO PASS ANOTHER COMMENT ON SMART PIPS.COM BASED ON MY FIRST REVIEW MADE ON FPA Website on 26th of April, 2014.
I AM VERY SORRY FOR THE BAD COMMENT I MADE THAT DAY. I WAS UNABLE TO INSTALL THE EA THAT TIME AND I HAVE INSTALLED IT SUCCESSFULLY NOW.
TO BE HONEST, IT SEEM AM NOT PATIENT ENOUGH. MAY BE BY THE TIME I WAS MAILING IN WITHOUT REPLY MAY BE AS A RESULT OF TIME DIFFERNCE.
I THERE FORE WISH TO TELL ALL TRADER AROUND THE WORD TO CONTINUE BUYING EA from smart pips .com
smsrt pips. com is an honest and reliable person, it seems am not so patience enough to wait for his response as per my email i sent to him.
I also thank FPA once again for taking care of we traders and guiding us against scamers.
I will comment latter about the performance of smart pips.com EA . i cannot say anything about performance for now bcos i install it successfully yesterday night. that is why i cannot give any star for now.

2014-04-26 No Rating I first of all appreciate the good work of FPA. God will continue to bless u {Amen}. Pls kindly assist me to recover my $99 from Smart pips.com. i pay for his EA since 4 days ago. I have problem of installation because he sent me a corrupt able file. I also seek for the installtion from my broker, sunbird to install it for me, but all efforts abortive according to sunbird IT SUPPORT DEPARTMENT. WHY THIS? THE EA sent to me was not effective/corrupt. I told smart pips to assist me to install it bcos i have team viewer on my laptop computer, but he refused to do it and stop answering my mails.
Pls kindly assist me to get my money back, i am no more interested in his EA and i get tired on sending me ineffective EA.
pls if this column is not the best way to make a case with smart pips .com, you can redirect me to the appropriate place.
but if he readys to refund me now, no more case.
I just want to collect my money back. i want to scam me. GOD AND FPA will not allow him.
Thank you very much FPA for your Good gesture and saving world fx traders from scamers.
I use this opportunity to tell my fellow traders to stay away from smart pips.com

2014-04-26 No Rating I first of all appreciate the good work of FPA. God will continue to bless u {Amen}. Pls kindly assist me to recover my $99 from Smart pips.com. i pay for his EA since 4 days ago. I have problem of installation because he sent me a corrupt able file. I also seek for the installtion from my broker, sunbird to install it for me, but all efforts abortive according to sunbird IT SUPPORT DEPARTMENT. WHY THIS? THE EA sent to me was not effective/corrupt. I told smart pips to assist me to install it bcos i have team viewer on my laptop computer, but he refused to do it and stop answering my mails.
Pls kindly assist me to get my money back, i am no more interested in his EA and i get tired on sending me ineffective EA.
pls if this column is not the best way to make a case with smart pips .com, you can redirect me to the appropriate place.
but if he readys to refund me now, no more case.
I just want to collect my money back. i want to scam me. GOD AND FPA will not allow him.
Thank you very much FPA for your Good gesture and saving world fx traders from scamers.
I use this opportunity to tell my fellow traders to stay away from smart pips.com