Let other traders know if this service is worth checking or should be avoided.
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London, United Kingdom,
Oct 14, 2012,
I;ve been trading a few yeara now using and testing several signal providers. None of them get it right every time, and one thing you learn is it is not about performance over a few trades. I've been with 4X several months and they are the best I have found so far - no question. I use there broker so the signals are free. I am warned about the risky trades so I don't have to enter, and other times I get out early. I guess I know enough about trading to do that, but other times you just have to take the loss. I think it is up to me to accept the risk and do a little work myself. I am staying put.
Oct 14, 2012,
I have personally been with 4xpip service for coming to 2.5 years now. If you were to scroll down, you can see me write a review years back.
I have to say that martin service is exceptionally good. Ive been successfully getting a stable 500-600pips a month average. I have been to many signal services and none of them have actually proven to show a steady record performance verified by myfxbook.
I have no idea why are there so many bad comment and review.. This just saddens me. The funniest part is that even though i see that the skype group now has close to 300people. I have never seem some of these trades before. really weird. Keep up the good work Martin.
Saihat, Saudi Arabia,
Oct 12, 2012,
I thought this signal provider is extraordinary. From the 4xpips's website and the reviews here I told myself I'll be rich and I am gonna do well. Apparently that was a dream his performance from 10 I will give him 2 out 10 and the 2 recent reviews are totally right that what happened to me. I would not recommend it to any one just today cost me a big lose on Gold, it was BUY GOLD @ 1772 SL 1755 TP 1789 not to mention the previous tickets.
The good thing about him, he manages his signals ;however, his signals are bad most them reach the SL.
Reply by 4xpips submitted Oct 14, 2012:
Thanks for the comments. I have to disagree about so many of our signals hitting SL, yes some have but our win % over the past few months is still above 80%. I admit we have had a few poor weeks but prior to that every week was excellent including some weeks with 500+ Pips, 300+ PIps. And we do report genuine results based on our signals, advice and access to some of our traders accounts so we get a snapshot of what our clients profit/loss from the signals.
As for thr GOLD signal above we advised using proper money management, you need to adjust your lot size to risk 2% per trade and we do give this advice in our free ebook.
Also in the past 2 weeks we have provided over 400 Pips in the live skype room from our other trader who has been posting in there. His signals will now be posted by twitter, SMS, Facebook and Email from tonight and will help our overall pips profit....so lets see how the next 2 weeks go and you will see us return to nice profit.
Here is an email from someone using our service for the past 9 months which shows overall the excellent service we provide.
I just wanted to say I don?t think you should beat yourself up for missing a few days! I appreciate what you do for the likes of me and I hope you are getting better.
So take it easy and keep up the great work.
And don't forget we are not just a signal service we also provide,
Free Help and support
Live skype room for chat 24/7
Thanks all, have a great week
Oct 10, 2012,
Bought into this service due to recommendation by FPA.
Disappeared for 3 days. Said he was sick, and would resume service by 8am London time today, but it's now 10am London but still nothing.
Prior to this I had majority losing trades trading the signals, losing quite a bit on my accounts. Results posted on website are incorrect.
A one-man show signal service that will shut down soon, if not already. Problem is can we get our money back at least, despite the trade losses.
Oct 9, 2012,
I'm new with forex signal. Just subscribe and want to see their performance. Martin said he in hospital last 48 hours. He doesn't have other people who can handle? That is very weird to me when they post some and talk about "we" suppose on in company. Will drop by again to comment here.
Moscow, Russian Federation,
Oct 8, 2012,
After reading so many positive reviews on forexpeacearmy.com, I decided to give this service a try and subscribed on Sept. 6, 2012.
My level of expertise of financial markets is average, as I invest in stock market and mutual funds. I also trade forex market for about a year, but due to time limitation I cannot spend too much time every day analyzing charts. Hence, I thought that a descent signal provider can help me with doing some ground work. I did not have an expectation of making huge amount of money at the get go, but smth enough to cover the subscription fees and get some reasonable return.
I think, this is the most important part and the reason why I or anyone else looking to use the signal service.
It took admin 3 weeks to update the results on the web site. No official results were posted for members at the end of each week.
The discrepancy in the results is not huge, but significant enough to make a point that performance is being manipulated.
Week 2 ( Sept 10-16) My results -34 pps, results posted +30 pps
Week 3 (Sept 15-21) My results +21 pps, results posted + 175 pps
Week 4 (Sept 22-28) My results -315 pps, results posted No results posted.
Week 1(Oct 01-07) My results (excluding NFP trades) -65 pps.
All trades resulted in the original entry at the moment of signal received and SL, TP provided by the admin OR additional instructions received from the admin. (I can prove every trade call and trade resulted in profit of loss by presenting emails with signals received).
I know that many will say that one month is not long enough to draw a conclusion, but it was quite enough for me when I've seen the results posted on the signal’s official website and compared to my own.
Instruments used are forex (including pairs with large spreads), Oil, Gold and Silver. So, make sure that you have all of them available for trading before subscribing to this service.
Trading strategy is not clear and not shared with the subscribers, even though many asked to clarify the reason for trades being called. I wrote the request myself and the answer I received (in the chat room) was that HE DID NOT WANT TO CONFUSE SUBSCRIBERS !!! Yes, we might be dummies, but could at least see the logic behind the trades. Therefore, it's very difficult to implement any sound money management, for I had no idea whether that was a short term scalp trade, intra day swing or longer term trend trade.
Example of trades called is Buy GBPCHF @ 1.5130/40 SL 1.5050 TP 1.5250
Also, I noticed that most of my trades were closed FAR from original TP goals, usually within 35-45 pps (if in profit). However, using the original stop loss (80-120 pps) made such trades very risky and Risk Reward was less than 1:1. Most of the loosing trades hit stop loss.
News trades. I had also a chance to see how admin handled the news trades. The trades signals were sent 10 and 2 min prior to news release (6 trades altogether) and were supposed to be managed on our discretion during the newws release.
No live trade room.
No trades reviews.
There is an ebook being distributed, however, I doubt that anyone who was trading for at least 6 month find it highly educating. I believe, it's now being offered on their site for free, if you decide to register.
Quality of service is average. There were number of instances when admin could not send updates due to «computer issues». Also, many members complained that they have not received trade calls by one or more means (email, tweeter). They missed trades as a result.
No trade copier.
Overall comments and takeaways
I would not recommend this service if you're paying for it. Trades are unclear and, during the time I subscribed, proved to be losing. Results on the web site are not real (at least during the time I was a subscriber).
Wish you all the best.
Oct 8, 2012,
This is a very poor signal provider he tries to trade oil and gold and is always hitting the SL .He has blown my accounts and most of my friends accounts and i am not happy with it. He has reached appoint of now sending survey junk mail telling us how he has just got $80 doing survey. We are not interested in that we want results.How can a signal provider who we expect to be good at what he does get 5 consistent SL?. He has even changed the format of signals(he sends signals that say it could go up to this point if it reaches such and such point or down if it reaches such a point) makes me wonder are you copying etoro free signals?. I am looking for another signal provider
Reply by 4xpips submitted Oct 14, 2012:
To comment on the above:
1. The junk mail was some sort of virus link through my Twitter account and has nothing to do with my service or what I do
2. We have not had 5 SL's in a row if you had followed our signals and updates correctly
3. Our overall success in the past few months is about 80% win
4. My opinion of etoro is that it is a scam company and would never trust anything they say and we do not copy others signals as we only trust our own people
5. The format has not changed but we have started using some PENDING signals. You cannot always enter at market price as all experienced traders know so pending signals can be placed above or below a support/resistance area for example so if the resistance area is broken then its a good time to buy
Hope this explains some points
Sep 28, 2012,
Martin has agreed to let us know in the future when the head trader steps out (tha's good news) and an ebook or information in some format is on it's way pertaining to how to trade the signals.
I will review the signal calls for a mth. (unless they are absolutely horrible, then I may not continue to use them for a full mth.) and then update my review.
2012-09-28 2Star I am just getting started with the service, but so far I give it 2 stars. Before I signed up, I asked about the past 2 weeks performance (because according to donnaforex, someone said the performance hasn't been good). Well, whoever handled my email that day assured me that the past 2 wks has been the same as other weeks stating in the 200-300 pip range.
Well, this morning I receive an email stating that the last 3 weeks have been negative. This is something I would have liked to know before I signed up. The email also stated that this is due to the main trader being out sick. I feel that this is also something that subscribers should know. Especially, since some are trading their live accounts...it would be nice to know when the main trader steps out sick (before another trader steps in).
We have been told that the main trader will return next week, so we'll see how that goes. My main issues have been these with communication and also asking 2 questions to support that completely went unanswered, but I will say that my other questions have been answered.
It would also be nice if there was a little more advice on how to trade the signals. If the ebook explains this, then fine but something else for now since the ebook is not ready...for those of us new to the service. For example: in the email today it stated that a specific trade moved up 30 pips and that he hopes we took some profit. Well, is this a recommendation? Because being new to the service I had no way of knowing this and my trade is still open and in the negative. There was no update to move stop, in this case anyway, but I did see other updates to move a stop for another trade.
I have paid and will continue to use the service on demo for at least the mth. I paid for. Hopefully, these issues with communication change or something more is explained to me on why they happened in the first place and I will be more than happy to update my review with specific explanations at to way.
Have a good day!
Reading, United Kingdom,
Sep 24, 2012,
I have been trading with 4x Pips for almost 2 years. I have seen them grow from a small basic site and with only email contact to improving accessibility through Facebook, twitter and Skype and their new website. It would be hard for me to tell you all the great things about Martin and the gang in this short review… but the bottom line they are dedicated to the success of their traders.
I agree with all the other comments on below. The results on the
website are accurate and 1000+ pips a month is very normal.
The thing that makes these guys special is that they are honest… and transparent. I am connected to them through Facebook, Twitter and Skype as well as many of the other members and Martin is always great at answering any questions I have.
The community feel here is real and everyone helps each other out. For instance there is one member in the Skype group who provides extra long term signals for free and one week in august he closed one trade with +810 Pips profit (yes really!), I know its a one off and doesn't happen very often, but thats the kind of extra benefit that you get from having such a great community of traders. This is more than just a signal service!
Sep 15, 2012,
Martin is a great person, always answer any questions via facebook. The service is very good, it is normal to make 200 to 300 pips a week. Martin thank you very much!