FXZIPPER is a Forex EA that employs the scalping strategy for carrying our profitable trades. The vendor makes a short presentation on the official website, outlining the main perks, pricing details, backtesting data, and trading results. You can get in touch with the FXZIPPER team using a contact form where you have to provide your name and email address.
There is no information available about the identity of the developers, so we don’t know if they have any prior experience in the Forex market. The question remains, can you rely on this Forex EA to earn you profits? We shall attempt to find the answer to this question in this review.
FXZIPPER is a broker-friendly system that promises 6-12 pips for each trade and allows you to trade in currency pairs like EUR/CAD, EUR/CHF, GBP/AUD, GBP/CAD, GBP/USD, USD/CAD, AUD/CAD, and AUD/USD. It provides a user manual, free updates, and 24*7 customer support. You can also get both MT4 and MT5 versions for this Forex EA.
This Forex EA uses a scalping strategy to earn a small number of pips with every trade. Thus, the orders are not kept in the market for too long and the trades are closed between 15 minutes to 3 hours. It has a unique technology using which it can delay the opening of a trade if drastic changes in the spread and price level have caused it to lose its profitability.
There are no further details available on the actual trading strategy used and this is a bit disappointing. Expert Forex traders love to know about the technical aspects of the strategy, so we think the vendor should consider providing the same in the future.
How to Start Trading With FXZIPPER
FXZIPPER is available for a price of $345. The company provides a 30-day money-back guarantee, so you get a full refund in case the system is not able to generate profits using your account. A refund is provided even when the drawdown is more than 35%, provided you have placed trades using the recommended settings.
The vendor recommends using minimum spread with your account and that you place your trades through an ECN broker. While other systems using the scalping strategy take 2-3 pips with every trade, FXZIPPER takes approximately 7-10 pips. Thus, you can use it with any broker that uses narrow spreads.
On the vendor website, we were able to find backtesting data on 8 different currency pairs. Here, you can see the data for the EUR/CHF and AUD/CAD pairs provided above. For the first pair, we can see that a profit of $125,046 was made using a deposit of $2000 while using the same deposit for the AUD/CAD pair yielded a profit of $89,647.
From the backtesting results, we can see that the system has performed well on historical data. However, we think the vendor should have provided more details, like the total number of trades placed, percentage of trades won, profit factor, etc.
Verified Trading Results of FXZIPPER
FXZIPPER provides us with live trading results on an account that has been independently verified by Myfxbook. This account was launched on November 19, 2019, and to date, it has generated a profit of $639.24 from a deposit of $500.52. While the daily and monthly gains are 0.18% and 5.59%, respectively, the drawdown is a low 13.33%.
Since its inception, 719 trades have been placed using this account, out of which 593 have been won. Hence, it has high profitability of 82% and a profit factor of 1.47, which tells us that the gross profit exceeds the gross loss by a significant margin. While the gains are a bit higher on the backtesting results, we can see that this is a system capable of closing most trades in profits.
Customer reviews are an important aspect of any product and Forex EAs are no different. There are no user reviews available for FXZIPPER on third-party websites like Forexpeaceamy and Trustpilot. This could be because it’s a relatively new service that not many people know about, but it certainly does nothing to increase our confidence in this Forex EA.
Is FXZIPPER a Viable Option?
- Verified live trading results are available
- Backtesting data is provided
- 30 day money-back guarantee
- Lack of information about trading strategy
- Lack of vendor transparency
- No customer reviews available
After analyzing the various aspects of this Forex EA, we cannot definitely say if you can trust FXZIPPER or not. The advantages and disadvantages of this system somewhat balance themselves out and we think investing in this system could be a gamble.
While the availability of live trading results and backtesting data tells us that it is not a total scam, we don’t know what strategy the expert advisor uses. This, combined with the lack of customer reviews, causes us to remain neutral about FXZIPPER.