FXZIPPER Review: Does it Win or Lose?

FXZIPPER Review

FXZIPPER is a software that offers automated trading solutions. We cannot say that this trading EA wins or loses. But we know that it may win some trades and lose some. The most important thing to look at is whether the wins overpower loses or not. This trading system cannot be used by some traders as it is limited to trade on just a few currency pairs. This already disqualifies it.

What is FXZIPPER?

FXZIPPER is a Forex expert advisor that is based on scalping strategy and works with any broker. It utilizes its strategy to earn a small amount of pips from each trade.

The robot can trade on 8 currency pairs namely; AUDUSD, AUDCAD, USDCAD, GBPUSD, GBPCAD, GBPAUD, EURCHF and EURCAD. It keeps trades in the market on average from 15 minutes to 3 hours.

FXZIPPER  box

Its features include:

  •  It is a reliable scalping tool
  • It gives live statistics (on real account)  
  •  It uses unique technologies
  • It is broker-friendly

Official FXZIPPER Website

The official website for this robot is fxzipper.com. The website is a one page with very little information about the EA. The vendor’s identity is unknown and the product presentation is poorly done. We just wonder why someone would think they are in this competitive market if they can’t provide comprehensive information about what they offer.

We cannot buy from such a vendor with no transparency that can give us an idea of his experience in the markets and other products he has developed.

FXZIPPER features

How Can We Use FXZIPPER?

The FXZIPPER is automated Forex trading software for both MetaTrader 4 and MetaTrader 5 platforms and works with any broker.

Its developer recommends that in order for you to get good trading results, you should use accounts with a minimum spread such as ECN.

Pricing & Refund

The FXZIPPER trading system goes for $345. The package comes with 1 lifetime license for any MT4 and MT5 account version of the EA, User manual, free updates and customer support.

It provides a money-back guarantee during the first 30 days after your purchase. If it doesn’t work properly on your account, and they cannot do anything about it, your money will be returned to you.

If a drawdown on your account exceeds 35%, they will also initiate a refund process, on condition that you have used their recommended settings and provided proof of that.

The pricing for this robot is way higher than most EAs that we have reviewed.

Price

Trading Strategy

This trading software uses a scalping strategy. It earns a small amount of pips from each trade. This prevents it from keeping orders in the market for a long time and closing them in profit. The software also has a technological feature that can allow it to postpone opening of a trade by signal if it has become unprofitable due to a sharp price increase, requotes or a fleeting increase of spread.

A trade will be opened either when the price is best for its opening (in order to make a profit), or the EA will deliberately miss a low-profit trade. This feature can be enabled or disabled in the settings of the EA.

The developer provides multiple backtesting reports for each currency pair the robot trades. 

Looking at the backtest reports below, for the currency AUDCAD, the robot grew the account from a deposit of $2000 to $89647.90 while for AUDUSD pair, it traded the account from $2000 all the way to $5285 in profits.

The winning percentage for AUDCAD was 90.69% while that of AUDUSD was 86.98%. The total number of trades on AUDCAD was 806 whereas that of AUDUSD it was 776. The maximal drawdown attained on AUDCAD was 13% while that on AUDUSD was 7.3%.

According to the information provided, the robot was installed on these accounts in 2015.

FXZIPPER backtest

Current Performance

This live account is attached to the FXZIPPER robot and it’s running on MT4. The system has been running on the account since November 19th, 2019.

Looking at the trading results, we can see a gain of $615.11 representing 122.91% with 49.97 lots. The initial deposit was $500 and the current balance is $1113.71. The drawdown is 13.33%.

The account’s highest growth was on December 21st, 2020, where the equity was reading $1165.15.

Stats

The total number of trades are 866 with winning percentage being above 81% as shown in the screenshot below.

History, Open Date

From the screenshot below, we can see that trades can run for as long as two days and not within 3 hours as stated by the developer.  

Trades can run for as long as two day

What Customers Say about Fxzipper?

We couldn’t find any customer review or comment about the system on the official website. Our search on the FPA platform found that the robot has a page in its name however, there are no reviews as of now. The page was last updated on June 20, 2021.

Review

The same scenario was established on the TrustPilot platform. 

TrustPilot platform image

Summary: Is FXZIPPER a Trustworthy EA?

Summary: Is FXZIPPER a Trustworthy EA?
3 5 0 1
FXZIPPER is not a trustworthy trading software. We cannot trust a robot whose developer’s identity is disclosed. First, the website that presents this trading tool is shallow and has no information that one can rely on to know more about the system before purchase. Our dislikes for this EA outweigh the likes and therefore we urge traders to stay away from it.
FXZIPPER is not a trustworthy trading software. We cannot trust a robot whose developer’s identity is disclosed. First, the website that presents this trading tool is shallow and has no information that one can rely on to know more about the system before purchase. Our dislikes for this EA outweigh the likes and therefore we urge traders to stay away from it.
3/5
Total Score
  • Strategy
    2/5 Bad
  • Features
    3/5 Neutral
  • Trading Results
    4/5 Good
  • Reliability
    3/5 Neutral
  • Pricing
    3/5 Neutral

Like

  • Backtest reports and trading results are provided through myfxbook
  • Money back guarantee

Dislike

  • No customer reviews found about this system
  • Trading strategy used carries high degree of risk
  • We dislike the website presentation which is done poorly
  • High price of the EA
  • No free trial package which a customer can use to test it before buying
Total
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