Tip Toe Hippo comes with multiple pricing options that traders can choose according to their liking. The robot is built to trade on GER 30 and JPN 225 indexes. The developer includes an education section on the website to teach traders about essential aspects of trading. Let us see whether the algorithm can be profitable for long-term trading or not.
Product offering
The seller takes a poor approach in describing the features and other important characteristics of the system. He is only bent on sharing the live account performance, which is available for a short duration.
Vendor transparency
There is no information regarding the developer and the experience of the traders behind the program. The only way to contact the managers is through Discord or their email id. Lack of this important information raises our eyebrows on the vendor’s reliability and transparency.
Price
The robot is only available through a subscription service. Traders can choose to rent it for 1 month at $50, 3 months at $100, and for a year at $250. The developer is not clear about how many accounts the algorithm can work for.
Trading strategy
There is no necessary information regarding the strategy that the robot uses. We had to use the history on Myfxbook to see that the algorithm trades on indexes such as GER 30 and JPN 225. The average trade length is 15 hours and 52 minutes, which indicates that the EA is a day trader. The robot can hold trades for a significant loss of around 200 pips. The take profit can also go upto 400 pips.
Trading results
Backtesting results are available through an image that the developer shares. He states that they have tested the algorithm for nine years of tick data with a maximum drawdown of 15%. They openly claim that the robot can provide low gains for an extensive period. There is a white paper regarding the performance of the algorithm, which gives us information on the Monte Carlo testing and walk forward optimization. However, there is no link to the tests that have been performed.
Verified trading records are available on Myfxbook that show performance from May 09, 2021, till the current date. The system has an average monthly gain of 6.08%, with a drawdown of 5.87%. The winning rate stands at 53%, with a profit factor of 1.73. The best trade is $1081.41, while the worst one is -$668.42. There were a total of 135 trades performed. The developer made $27660 in deposits and $54.04 in withdrawals. The total gain is 27.6% for the trading period.
The system has been online since May 2021, and therefore, we cannot confirm that the performance mentioned above will hold for the future. We will have to wait and see how it goes under certain market conditions to get clear results.
Customer reviews
There are no customer reviews present on Forex Peace Army or Trustpilot that can guide the viewpoint of other traders. Traders may not have heard or tried the algorithm. The lack of information available on the website may have contributed to investors’ suspicion about the EA.
