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Pipbreaker Review: Is It a Scam?

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Pipbreaker

Pipbreaker is an indicator that is compatible with the MT4 and MT5 platforms. It is suited for any trading format and currency pairs. As per the vendor, the success rate for this trading tool is 93%.

Promoted by WeTalkTrade, a company providing FX trading tools, this indicator was first launched in 2014. The company was established in 2009 and has developed products like the NextGen Trading tool, Velocity Finder Neural Trader, Newsfeed indicator, and more. Besides these products, the company also provides free and premium signals.

We could not find info on the developer team or their credentials. There is no phone number and other info that helps in proper support. The lack of vendor transparency and inadequate support makes us suspect the reliability of the system.

Features of Pipbreaker

Features of Pipbreaker

According to the vendor, the main features of this manual trading tool are:

  • The indicator is designed to enhance your trading with its user-friendly design.
  • It can work for any style of trading you wish to do including long term, scalping, short term, and more.
  • A friendly support team working 24/5 helps to address user queries and issues.
  • An email and live chat features are present for support.
  • The indicator effectively handles market reaction to news events and offers accurate indications.
  • Indications for the major trade sessions are given to help place precise and profitable trades.

From the features provided, we can see that there is not much relevant info present. The lack of info raises doubts regarding the trustworthiness of this product.

Trading strategies and currency pairs

The vendor does not explain the strategy that this MT4/MT5 tool uses. There is mention of the precise entries and customizable TP and SL levels. This manual trading tool works on all currency pairs. We could not find info on the recommended deposit, leverage, broker, etc.

The absence of strategy info makes us suspect the reliability of the system. Further, the vendor does not provide backtesting results. The lack of strategy info and backtesting reports raises a red flag for this indicator.

Pipbreaker trading statistics

Trading examples for Pipbreaker

Trading examples for Pipbreaker

A few trading results are posted by the vendor on the official site. But these are not verified by reputed sites like Myfxbook, FXBlue, FXStat, etc. With verified stats, we can know in-depth details of the product like its profit potential, drawdown, and other such info. The absence of verified results raises another red flag.

Pricing and refund

Pricing package of Pipbreaker

Pricing package of Pipbreaker

To buy a lifetime license of this indicator, you have to pay $249.99. The package includes instant alerts on new trades, achieved targets and loss details, lifetime free updates, customizable SL and TP levels, and the ability to make accurate trades with the precise entry of the indicator. It also helps in analyzing, learning, and implementing your strategies in the trading sessions.

Assistance is present for the setup and installation. We could not find a money-back guarantee for the product which makes us suspect this is not a reliable system. Further, compared to the price of other similar MT4 tools in the market, we find the cost of this indicator is very high and not worth it.

What else you should know about Pipbreaker

We found 36 reviews for the company on the FPA site with a rating of 3.246. Here are a few of the user feedback:

User complaining of the useless Pipbreaker indicator

User complaining of the useless Pipbreaker indicator

User review complaining of bad support

User review complaining of bad support

Spam review report by FPA for Pipbreaker

Spam review report by FPA for Pipbreaker

As per the user testimonials, we find that the indicator is not effective and provides more false signals than winning signals. The reviews reveal a lack of technical support. Further, users contend that the indicator will only lead to a loss of money. Additionally, the FPA site reports that the company had used spam to promote its products instead of using ethical means to market the services they offer.

Pipbreaker Conclusion

3.8

Pipbreaker is an indicator that assures precise and successful entries. Our evaluation of the various characteristics of the MT4/MT5 tool reveals the system has multiple downsides. To start with, the vendor does not provide details of the developer team, their credentials, and other info like phone number. The strategy used by the system is not revealed and no backtesting reports are present. We could not find verified trading stats for this trading tool which further confirms that it is not trustworthy. The lack of a money-back guarantee and the expensive price are other shortcomings that make this an unreliable indicator. From the multitude of drawbacks, it is clear that this is not a system we can recommend.

  • Price - 4/10
  • Strategy – 3/10
  • Trading Results – 4/10
  • Vendor Transparency - 4/10
  • Customer Reviews - 4/10
  • Support - 4/10

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