Pipjet Forex Software Review

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Pipjet Review: Solid or Scam?

Pipjet Review: Solid or Scam?

Pipjet Review: Pipjet Forex Software

Pipjet is a new forex software product from a familiar team. Created by the same guys who produced the very popular Forex Megadroid (sold over 40,000 copies!), Pipjet is expected to prove equally popular?

But is the hype around this latest forex software justified? Or is this just another scam?

Well, first let me say that the buzz in the forex trading community is pretty positive… so far. People are loving the fact that it’s easy to set up and fully automated. Also that it trades during the Asian session 11pm – 8am GMT, which means profits can be made overnight, while traders are sleeping!

This EA (or electronic advisor) runs on the MT4 platform, which is about the most common around and, we’re told, has been two years in testing.

Pipjet trades the USD/CAD pair, and it does so – as I’ve said – during the Asian session.

You can read more about Pipjet here.

As you’d expect the trading statements on the sales site look impressive – from $1,000 to $36,602 on one account, over the course of about eighteen months. In fairness, that is possible on the basis that the account was deliberately set up with quite aggressive parameters to ‘stress test’ both the software and the market.

What I like about the sales blurb is that it’s actually pretty realistic. Even on the most aggressive account, the figures quoted are credible in the context of trading a (risky) percentage on a compounded account balance. And the numbers shown for lower (i.e. more sensible) risk levels are satisfying, maybe even pretty good, without being implausible or leaving the suspicion that you might lose half your balance if a trade goes against you.

So, how is Pipjet performing?

Well, the forum over at babypips.com, which is independent and well regarded, has been following Pipjet for about ten days as I write (Saturday 7th July 2012), and the feedback is pretty positive: easy to use, limited losses, a few small wins… in line with the vendor page, in other words.

Here are the real time tickers for the five Pipjet robot accounts being run to test/prove the system:

You can read more about Pipjet here.

You can read more about Pipjet here.

Pipjet Verdict

Pipjet is sold through Clickbank, so it comes with a 60 day refund period.

So my advice is to run this on a demo account, with sensible settings (i.e. the same ones you’d use if you were trading real cash), and let it run for three weeks on that dummy account.

Don’t keep checking back daily. This is a problem for many traders: they get stuck in the micro. Let it run its course for a reasonable spell.

After three or four weeks, check in with it. See how the account balance is.

If it’s not working for you, or doesn’t suit your style, take them up on their refund offer. No harm done.

As with all products reviewed here at eForexSystemReviews.com, we NEVER recommend live trading with a brand new product. There are demo accounts available with lots of brokers, and this product has a two month guarantee, so there’s no excuse for not putting it through its paces with a safety net!

You can read more about Pipjet here.

3 Responses to Pipjet Forex Software Review

  1. Hello ,
    I am glad to see you are an independent reviewer and knowledge base for this PIPJET sceen.
    I bought my copy 2 weeks ago and installed it only to get an Authentication Error code 160
    an so PIPJET is not active on my MT4 platform.
    I have sent 3 support ticket emails to PIPJET through Megadroid website and NO reply.
    Do you know what this error maybe and how to fix it?
    The MT4 trader I selected from PIPJETS preference list is PEPPERSTONE. Is this the reason, I read somewhere else that PEPPERSTONE is not good or compatible or allows USA trade signals.
    Please advise what you can and all will be much appreciated
    regards
    Scott

    Scott
    July 17, 2012 at 2:41 am
    Reply

    • I have exactly the same problem, also Pepperstone. Just sent a ticket lets see if they respond, if no respons within a few days I´ll try the refund, let´s see if THAT works! So far no trades with Pipjet within 2 weeks, only problems, doesn´t look good.

      Lars

      Lars
      July 26, 2012 at 9:21 pm
      Reply

  2. I have been running pipjet for 2 years at smarttradefx. I have been trading live no problems the only error I had was that I forgot to
    put my receipt code when setting it up.

    Thomas Brooks
    September 11, 2013 at 9:42 pm
    Reply

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