Today’s review will be about Siphon-X software. It’s another robot that was designed by Trading Strategy Guides. This company was many times mentioned as a scam producer. The robot was introduced as the EA that’s able to siphon massive profits from the EUR/USD currency pair.
Detailed Forex Robot Review
The site is flooded by information that can’t be used to get sure about the usefulness of Siphon-X. The presentation lacks intel, but we did our best to get everything together:
- The EA can trade only EUR/USD.
- We can run the robot in many time frames.
- Trading the rest currency pairs are available as well.
- Siphon-X trades automatically, without a need for human interaction.
- It can work on the MetaTrader 4 and 5 platforms.
- We couldn’t find any sign of backtests that would prove this claim.
- It works fully-automatically.
- The win-rate is 60%, as the developers said. We know nothing about the account where it was proved.
- We ponder this claim as a manipulation. EUR/USD is a wild symbol to make profits. We prefer EUR/CHF, USD/JPY, and USD/CHF.
Siphon-X Strategy Tests
We’ve got two “backtests” in the presentation. It’s just a part of the backtest where the main intel should be placed like win-rate, drawdowns, time frame, spreads, closed deals, win and lose streaks, and so on. The system uses the RSI indicator to find trend-based trading opportunities.
Real Account Trading Results
As trading results, we’ve got only these two photoshopped screenshots. First, these trades weren’t opened because there are no marks on the bars that tell us about the Entry Prices and Exit of the Deal Prices. Second, there are no badges in the top-right corner that something is attached to the chart. There were trading results cut from the MT4-taken screenshot.
The offer costs $149. It includes a 30-day money-back guarantee. The package featured support, updates, backtest reports (why not now?), live calls, and VPS recommendations (why not now, too?). We have to use a VPS service to be profitable.
This pricing forming looks like a scam. Do they want to sell a free guide for $497? No, thanks. A single video for $997 for a copy? Was it made from pure Gold? The Web is full of many educational courses and lessons (with videos) that cost from $200 to up to $450 and include 20-70 training videos. There’s a guide once again for $497? No, way. Thanks.
The only-strategy package sells for $49. It looks like it should work as a BUY/SELL Indicator.
The onsite purchasing asks for all our info. We can’t be sure that our data on the scam-like company will be safe and sound.
There are many positive comments on the presentation that aren’t reflected on the web on sites like Trustpilot or Forex Peace Army. This EA is such a new one. So, there couldn’t be that much feedback. So, it was written and launched with the presentation.
Siphon-X proved that it’s another scam of Trading Strategy Guides. This company invests in development but never uses its software to make money on its own.
That’s why we have neither real backtests nor 3rd-party verified results. They didn’t even care to run the EA on a safe demo account where they would lose nothing if something goes wrong.
The screenshots of half of the backtest reports showed that it’s a horrible and unfit Martingale. Using Martingale on the win-rate they mentioned - 60%, it’s an insane try.