Claiming to be a unique trading system, Siphon X assures traders that it can deliver ‘massive profits’ from the EURUSD currency pair. The Trading Strategy Guides team claims that with their expert advisor traders can get appreciable trading results irrespective of their trading experience in the Forex market.
A huge profit of up to 80% in just years ‘without studying charts or sitting at your computer all day’ – it is what Siphon X promises. Are the Trading Strategy Guides claims worth your attention? Is Siphon X a good EA to invest in? Can you trust the system with your hard-earned money? Keep on reading our Siphon X review to find out the answers.
Siphon X: To Trust or Not to Trust?
After our detailed analysis of Siphon X, we have concluded that this EA is not a good trading system to be trusted. Our verdict is based on:
- Undisclosed trading strategy
- Unverified backtesting results
- Absence of live trading results
- No settings explanations provided
- No broker explanations provided
- No money management advice provided
Let’s talk about the key features of this EA:
- The robot trades fully automatically
- Works only on EURUSD currency pair
- The devs claim that their EA provides up to 80% of winning trades per year. It is a lie and manipulation, as they failed to provide trading results as proof of their aggressive claims
- They say that the system automatically works for us, making trades for us, no matter whether we are experienced traders or newbies, just ‘make big trades, fast’. It is a lia, as there is no proof provided
- The robot sets Take Profit and Stop Loss levels
- Their ‘easy-to-implement strategy’ has shown a sixty percent win rate
- The system works on multiple timeframes
- Uses RSI for signals
- The system is easy to use and easy to follow
- Siphon X allows traders to trade automatically or manually
- The system allows getting out of trades where it is needed
- It allows traders to create their trading approach
- The robot allows traders to set entries, stops, and targets manually
The system is available to buy in 2 different packages: one is sold for $149 and includes the EA for MetaTrader 4, updates, and upgrades. Option #2 costs $49 and includes only the indicator.
The developers also offer this system for 30 days of a free trial. Thus, interested in the software traders can test the EA to see how it works and decide whether it is what they need. Siphon X comes with a 30 days money-back guarantee. So, in case you are not satisfied with your trading results, you can ask for a 100% refund within thirty days of the date of purchase.
This Forex trading software was designed to trade only EURUSD, relying on effective money management to grow accounts’ average win rate up to sixty percent. Having a long product presentation of over 3000 words, there aren’t many details about the trading strategy. According to the developer, the EA uses a unique trading strategy. However, there is no proof provided to support their claims. They failed to provide backtests that could be verified. They only provided simple screenshots of backtests on their sales page:
They add that in 1 year of trading their trading account gained $6,5K of profit. However, these are just simple words. There is no proof of their claims and because these backtests cannot be verified, we cannot verify the authenticity of the test results. Besides the undisclosed trading strategy approach, the lack of verified backtests further confirms our suspicion that this trading system is not as effective and good as its developers claim.
Unverified Trading Results
Once again, we are provided with multiple screenshots that are provided to demonstrate winning trades of Siphon X. However, we do not trust them. They are simple images that can easily be manipulated and can not show the real performance of their robot. We always advise developers to share trading results that can be verified on third-party websites, such as fxstat, myfxbook, or fxblue. The trading results placed on these websites can reveal the trading details of any expert advisor in detail.