Forex Magic Pips Review – Uncovering a Telegram Channel Scam

Forex Magic Pips is a Gold trading signals Telegram channel with over 16,000 subscribers. They have been active since July 2017. But after thorough 6 months backtest of their free signals and evaluation of their trading method, we discovered some really shocking evidence which shows that this is nothing more than a scam trust channel meant to lure traders to follow their paid VIP group.

This review will show you the shocking reality of Forex Magic Pips and warn you about the risks of using their signals.

Channel Overview

Telegram Channel Link - https://t.me/forexmagicpipsofficial

Category	Details
Channel Name	Forex Magic Pips (@forexmagicpipsofficial)
Operating Since	16 July 2017
Subscribers	16,063 (Medium size channel)
Average Posts Per Day	~23 posts (Active channel)
Average Views Per Post	~700 (Most subscribers are fakes)
Website/Social Networks	None
Main Content	Free signals, trading results, trade updates, paid channel promotion
Free Signals Provided	Yes – ~2 per day on average
Main Trading Market	Gold
Trading Style	Scalping
Trading Session	London session
Trading Signal Format	4 Take Profits with wide Stop Loss
Free Education	None
Paid Services	Premium/VIP channel (no subscription bot)
Real Person Behind Channel	No
6-Month Free Signal Win Rate	31% (Backtested)

Example of a Trading Signal

The typical signal offered by Forex Magic Pips looks like that:

Gold sell @ 4070.5 - 4079

SL @ 4085

TP1 @ 4068

TP2 @ 4065

TP3 @ 4062

TP4 @ 4058

As you can clearly see, you will earn much less even if you smash all 4 TPs because of enormous SL which makes 144 pips compared to maximum possible 120.5 pips of TP targets. And this is a really scary risk-to-reward ratio.

Our Backtest Results

We used our AI software to backtest all of the free forecasts they provide during the last 6 months. And the results are really alarming:

• Winning Rate: 31%

  
  

• Risk-to-Reward Ratio: Negative (SL is always bigger than sum of all TPs)

  
  

• Probability of Blowing Account: In case of 1% risk per trade, you will blow your account in one week of following them.

  
  

Forex Magic Pips (FMp) is a dirty scam Gold signals channel on Telegram, offering terrible free signals and promoting them as profitable, misleading subscribers to join their VIP group.

Our AI software managed to backtest their free signals and related updates on them to make you understand the riskiness of these trades.

Red Flags and Suspicious Activities

Fake Subscribers: Only 700 average views from 16,000 subscribers mean that most of them are fake or inactive accounts.

No Face of the Channel: No real information, face or name of the channel.

No Subscription Bot: All good premium channels have bot for subscription management. Absence of that is really suspicious.

Misleading Screenshots: Screenshots with profits and updates are meant to mislead you with their channel profitability.

No Educational Material: Good trading channel provides educational material along with the signals. FMp doesn't offer anything like that.

31% Winning Rate: Unacceptable low win rate and negative risk-reward ratio is sure way to lose your account.

Constantly Pushing People to Join VIP Group: Providing intentionally poor free signals and constantly promoting their premium channel.

Conclusion

Don't fall for this.

Forex Magic Pips is not a good trading signals provider. It is a scam trust channel, which:

• Provides signals with bad risk-reward ratios

  
  

• Fakes the number of subscribers

• Uses misleading screenshots for gaining trust

• Has no transparency, educational materials or real experience in trading

• Promises profits but has 31% win rate which will leave you broke

0/10 TRUST SCORE

Our advice: STAY AWAY from Forex Magic Pips.