[PipCop]

What does PipCop do?

PipCop's goal is to find the best Forex Expert Advisor automatic trading robot.

Which robot is best/which robot does PipCop recommend/which robot should you use?

YOU have to make the decision which robot fits YOUR trading profile. PipCop does NOT recommend any robot for use at any time for any person, and all reviews on here should be considered for entertainment purposes only.

All decisions to trade Forex should be made with the help of a qualified Forex investment adviser or qualified financial adviser. The comments, reviews, and statements made on PipCop should NOT be considered financial advice!

How?

PipCop allows vendors to post a Forex Expert Advisor and review it, in real-time, on a demo or live brokerage account. We ask that they post a detailed statement of the account showing every trade made, every profit, and every loss, as it occurs on a real account. We prefer, of course, that they put it on a live, real cash, brokerage account!

Yes, we ask them to risk their money so you don't have to.

Why we NEVER allow backtesting of any EA:

An EA author can tweak the settings in their EA to provide excellent results when backtested, but when you put it on a live account the results are disastrous. Even with 90% modeling quality, backtest results are still unreliable.

A huge issue with back testing is that the data is not tick-by-tick. History data is bar open and bar close. That means the best data you will get is 1 minute.

As we all know, in one minute the market can move quite enough to ruin your account. Therefore, backtested results really are useless because the data can vary widely from broker to broker, and depending on where the are getting their data feed. (There are some exceptions to the rule, such as with a quality tester such as Forex Tester which can do tick-by-tick modelling.)

Backtesting usually provides the "best case" scenario, and often publishers simply pick the settings for their robot that have the best results, not the safest, most reliable, or most realistic. There are many robots I test that have crazy TP settings of 100+ pips, when in forward testing 10-40 pips would be more realistic and profitable. As a result, when I test those robots, the tend to fail very quickly because the authors simply are fooling themselves into thinking their robot will make them rich, without thinking about the reality of the market.

Backtesting has caused many traders to lose tens of thousands of dollars using EAs that suck! Don't be fooled by backtesting!

What we DON'T do:

We do NOT give bullshit reviews on an EA by saying things like "I give this a 4 out of 5 stars." We ask vendors to back up their reviews with real data on real accounts. We let YOU make the decision.

We don't claim you will get rich overnight. In fact, we'll point out that you WILL lose money, sooner or later, as every investor does.

How do we make money?

Advertisements.
We hope they are relevant to your needs. We also try to make them as minimally intrusive as possible. Like most people, we also hate websites that are decorated with ads instead of good content.

Donations, subscriptions, and advertisers.
If you would like to advertise or donate to PipCop, click here to be taken to our donation and subscription overview. We have several programs, such as user upgrades, brokerage review account purchasing and affiliation, advertising, and plain donations.

Affiliate / reseller programs.
We prefer to make money that is not product related so you don't feel pressured to buy anything, and we don't profit from any robot sales.

What do we do funds?

All donations to the site are used to pay for site features, site upgrades, site hardware or software, site licenses, labor fees, and other site maintenance requirements.

How are we different from other review sites?

With live accounts and live statements, we try to make it easy for you to see what is going on.

Which EAs do you review?

We attempt to test the most widely recognized commercial EAs, as well as smaller less known free ones, and give everyone an opportunity to put their EA to the test.

Bottom line? We are here to provide honesty, integrity, and trust in the world of Forex Expert Advisor reviews.

PipCop - busting the bad guys!