Signal service scams are all too common within the forex trading industry and with other types of online trading. But not all forex signals are scams. Some are legitimate providers, although even then, they should never be looked on as any kind of guarantee or ‘sure bet’ when it comes to forex trading. So, is 1000pip builder legit? And even if it is, should you rely on it when making trading decisions?
What is 1000pip Builder?
1000Pip Builder is a forex signals provider offering virtual, expert advice to traders worldwide. This advice comes from a professional trader, Bob James, who claims to have more than a decade of experience as a successful trader. The service is designed to offer insight to traders looking to improve their trading profits and increase the number of successful trades they complete. The service has been in operation since 2016.
What does 1000pip Builder Offer?
1000pip Builder offers daily forex signals across all time zones, 24 hours a day, five days a week, covering the Asian, US, and European forex markets. The service provided is based on complex fundamental and technical analytics used by the firm’s lead trader. Whenever a trade is placed on the 1000pip builder fund, the subscribers to the service receive an email, SMS, and Telegram alert with the details of the trade, so that they can choose to act on the signal and copy the trade if they so wish.
The details sent out include all the important data, such as the entry price, stop loss and take profit level on that trade, so traders can see exactly what is involved. When you sign up for the service, 1000pip Builder will send you a detailed email explaining exactly how the system works and what you need to do to follow the signals sent out. Traders can choose to receive signals at home or on the go via their mobile devices. On the 1000pip Builder website, you can see the firm’s performance results, and they claim that their recommended trading strategies have made 6,500 pips over a 24-month period.
No minimum account size is needed to sign up, and you can continue trading with your current broker. Subscription payments can be made monthly by credit card or PayPal, and you can cancel at any time. There are usually only one or two trades open, and most are open for a few hours at a time. Trades are occasionally held overnight, but this is the exception rather than the rule. There is no demo account advertised on the website, but the service has previously been offered with a 7-day free trial. This offer is still mentioned on the 1000pip Builder Trustpilot page, so it is worth contacting the firm and asking about the free trial.
Is 1000pip builder Regulated?
Unlike forex brokers, there are no regulatory requirements for signal service providers. They are not considered to be providing a financial product or service in the same way as a bank, brokerage, or other financial institution. This is one of the reasons there are so many signal scams out there, as, in effect, anyone can claim to be a successful trader and sell their signals to the public.
Despite its lack of regulation, this provider has been operating since 2016 and has many positive customer reviews. It certainly does not present some of the red flags we always warn you to look out for with signals providers, such as a very recent set-up and a lack of customer reviews.
Is 1000pip builder Safe?
While it is never fair to say that a signals provider is 100% safe, it does not appear that 1000pip Builder is a scam. It is a provider that has been around for several years, and it has many, mostly very positive, customer reviews on Trustpilot with an excellent rating overall.
It is, however, vital to remember that no one tool or technique, including using a signals provider, can guarantee forex trading success. Trading is complex, and there is a lot to learn. While many traders like the idea of using a signals service, and it can be part of a successful trading strategy, it is never advisable to rely on one particular service, tool, or strategy. We advise traders to spend time on their education and training, learn to use technical and fundamental analysis, and work on creating strategies that work for them and are tailored to their needs.
As with any trading tool or service, there are also some drawbacks to 1000pip Builder. Like all signal services, there is a subscription payment, which is quite high, at $97 a month. It is much cheaper per month if you get a quarterly subscription at $227 or an annual subscription which, at the time of writing (August 2022), was on sale for just $397. Don’t forget you can also contact them and ask about that free trial mentioned on their Trustpilot page.
Another possible disadvantage for some traders is that not all markets are covered, although signals are provided for the major forex pairs and some of the major crosses. The firm specialises in Yen pairs, so many signals are on USDJPY and EURJPY; other major pairs, such as EURUSD and USDCAD, are also regularly traded. While this provider will suit many newer traders wanting to focus on major pairs, do not expect a huge amount of variety in the signals you are sent.
Safe Forex Brokers
| Broker | Features | Min Deposit | EURUSD Spread | ||
|---|---|---|---|---|---|
 Your capital is at risk
US Clients: No Regulated : Yes
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– Regulated by FCA, FSCA, CMA and FSC |
$200 | ECN 0.1, Standard 1.6 | ||
 Your capital is at risk
US Clients: No Regulated : Yes
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– Flexible leverage up to 500:1 |
$200 | From 0.1 | ||
 Your capital is at risk
US Clients: No Regulated : Yes
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– 40% New Member Bonus
|
$100 | Fixed |
Sign
Up
Europe* CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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 * 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
US Clients: No Regulated : Yes
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|
100GBP/AUD/EUR/USD | variable |
Sign
Up
* 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
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 Between 74-89 % of retail investor accounts lose money when trading CFDs
US Clients: No Regulated : Yes
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$200 | NDD 0.09 / Standard 0.69 |
Sign
Up
Between 74-89 % of retail investor accounts lose money when trading CFDs
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 76% of CFD traders lose money
US Clients: No Regulated : Yes
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$50 (varying by Country) | from 1 |
Sign
Up
76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
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 Your capital is at risk
US Clients: No Regulated : Yes
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$5 | From 0.0 pips | ||
 Your capital is at risk
US Clients: No Regulated : Yes
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– CySEC, FCA, FSCA, SCB Regulated |
$100 | |||
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As our 1000pip Builder review has shown, the 1000pip Builder signals service has been in operation for several years and has plenty of positive customer feedback. While no signals provider can guarantee your trading success, you may find it is possible for you to use this service, alongside other trading techniques, to improve your chances of success. If you are interested in 1000pip builder, we advise you to contact them about a free trial, so you can check that the service suits you and your trading needs.