With the assurance of high monthly returns and ease of trading, 1000pip Builder is one of the Forex signals services that cater to Forex traders. This system provides Myfxbook verified results and signals that are from expert analysis with full support.
With so many signal services available to traders now, it is difficult to assess each system thoroughly. This is where our expert reviews come to your rescue. Our review of 1000pip Builder comprehensively covers the various features that are relevant for you to make an informed decision.
Detailed Forex Robot Review
Presented by Bob James, the lead trader, this service works at helping you reach a monthly target of 350 pips. The service focuses on 15 currency pairs with the main focus being on the Yen pairs. On average 2 to 7 trades are executed per day. The lead trader, Bob James is the creator of this signal service.
He claims to have over 10 years of trading experience in Forex with high proficiency in technical and fundamental analysis. Three trading strategies are used by this service, including trend capture, range trap, and momentum rider. The generated signals are sent via email and SMS notifications. Users also get to be a part of a special traders’ group when they sign up for this service.
1000pip Builder Strategy Tests
Although verified backtests are not provided, the official site indicates a performance test done over 24 months showing a profit of 6,500 pips. The vendor claims that the trading plan can produce consistent results with minimal drawdown.
We prefer proper strategy tests performed on a modeling quality of 99.9% or more as these provide more accurate data. Since no such backtests are available it is not possible to evaluate the system properly.
Demo Account Trading Results
From the hype the vendor provides at the beginning of the site about verified results, we were eager to view the trading results. After visiting the Myfxbook site we were disappointed to see that the results were only of a demo account and not a live one.
The account had stopped trading in January 2020. Furthermore, the track record of the account was not verified by the site. Here is the screenshot of the results:
A profit of 87.86% and a daily gain of 11% are seen. As for the drawdown, it was 29.93%. A drawdown higher than 20% is always on the riskier side and traders usually stay away from such approaches. And, the profit factor was also low at 1.21 with the average win coming at 28.91 pips, and the average loss registering at -28.31 pips.
With the trading history being hidden by the service, we are unable to find more about the performance of this system. What we would like is a real live account verified by the myfxbook site. Since the given account has stopped trading and does not show promising performance, the system cannot be relied upon.
Three different membership options are provided by the vendor namely one month, three months, and 12 months packages. The costs of the packages are $97, $227, $497 respectively. When compared to other competitor signal service providers, the cost of this service is certainly very expensive.
Furthermore, the vendor does not provide any money-back guarantee, which makes the system an unreliable one. Considering the fact that traders can get far more effective services at a lesser cost, we do not think this system is worth the amount it is priced at.
We found several reviews for this signal service on the Forexpeacearmy site. The screenshots of a few of the reviews are shown here:
From the above screenshots, it is clear that the trades do not provide the big profits that the vendor promises. Contrary to the claims of the developer, the win to loss ratio turned out to be 1:1 which makes the system lose more than it gains.
As we come to the end of this 1000pip Builder review, it is clear from our in-depth analysis that the system poses several difficulties for traders. While the system’s developer assures a monthly profit of more than 350 pips, we could not find any proof of it in the performance and other features of the system.
Due to the developer providing just a demo account and one that had stopped trading at the beginning of 2020, we are unable to assess the performance of the system. And, what we could assess from the results seen in the demo account, the system shows a high drawdown and low-profit factor.
The lack of a money-back guarantee and expensive price further confirms our suspicion that this is not a reliable system.