Pipbreaker Review

Sep 21, 2021 08:42 AM ET
Pipbreaker Review

Pipbreaker claims to be the best indicator for MT4 and MT5. It also promises a success rate that is 93% higher than the failure ratio. This is quite a bold claim, and we need to thoroughly analyze the system to figure out whether this is true.

On the official website, the vendor explains the main features and shares some screenshots of the trading setups. They have outlined the advantages of this indicator and shared a demo video that shows us how the indicator works in the live market. Here, we also have the pricing details, along with some customer testimonials.

Pipbreaker

Type

Forex indicator

Price

$249.99 

Strategy

N/A

Compatible Platforms

MT4, MT5

Currency Pairs

All

Timeframe

N/A

Recommended Minimum Deposit

N/A

Recommended Deposit

N/A

Leverage

N/A

Trading strategy explanation 

This indicator displays buy and sell signals in the form of green and red arrows, respectively. You can use it for all kinds of currency pairs. It sends you a notification when you achieve a profit target and when there is a loss. With every trade, it uses stop losses and take profits that can be customized by the user according to their trading styles.

The vendor provides customer support and you can reach out to the team anytime between Monday and Friday. You have the option of selecting different trading styles, namely scalping, short-term, and long-term. Pipbreaker deals with 4 major Forex trading sessions starting with Sydney and ending with New York. The charts have trade session indicators that tell you when to place the trades. 

According to the vendor, you can combine this Forex indicator with other oscillators like Moving Average, PSAR, and other volume and momentum-based indicators. You can use Pipbreaker for getting confirmation on the signals.

On the official website, we cannot find any information related to the trading strategy. Seasoned Forex traders always look for the technical details of the trading strategy, because it helps them determine whether it can fit into their schedule and trading style. Therefore, the lack of strategy insight comes as a huge disappointment. 

Backtest data analysis

Backtests are performed on automated trading systems using historical data. These tests are usually conducted over a long time period, thus revealing important details about the automated system like its profitability, profit factor, drawdown, etc. By studying these results, traders can decide whether it is worth using the system in the live market. Since this is a Forex indicator and not an automated system, we don’t have the backtesting data available.

Live trading data analysis

Unfortunately, there is no verified live trading account for this EA on third-party websites. It is imperative for every vendor to share the live statistics for their respective systems. This is the first thing that every serious Forex trader looks for before investing. Without it, we cannot get an idea about the performance of the indicator in the live market. In other words, there is no proof that Pipbreaker can generate profitable Forex signals. 

Vendor transparency

Wetalktrade, the team behind Pipbreaker, has its headquarters based in Wilmington, DE, USA. On the official website, we have the official email address along with the links to various social media handles. This company was founded in 2009 and Pipbreaker came into existence in 2017. The vendor has not revealed the identities of any of the team members, which is not a sign of a reliable EA. 

Pricing plans

Pricing details of Pipbreaker.

Pipbreaker has a one-time fee of $249.99, which is quite excessive for an indicator. The plan comes with lifetime updates and installation assistance. There is no money-back guarantee for this indicator, which means the vendor is not ready to stand behind their promises. 

Customer reviews

User review for Pipbreaker on the official website.

There are no user reviews for this indicator on third-party websites like Trustpilot, Myfxbook, Quora, and Forexpeacearmy. We have several reviews presented on the official website, but there is no way we can test their veracity. The lack of authentic user reviews tells us that not many traders are currently using this indicator.

Review summary

Pros

  • 24*7 support available

Cons

  • Verified live trading results not available

  • Lack of strategy insight

  • No authentic user reviews

  • No money-back guarantee

After analyzing the various aspects of this indicator, we have reached the conclusion that it cannot be trusted. Without verified trading results, there is no way to gauge the profitability of Pipbreaker. The fact that there is no refund policy further enhances the risk. Therefore, we would advise you to avoid this indicator at all costs.


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