Boring Pips MT5 Review: Long-Term Signals, Risk & MT4 Comparison
Boring Pips MT5 trades three Forex crosses by looking for fading momentum around supply-and-demand zones, then managing entries and Fibonacci-based exits in groups. Its main attraction is a public trading record spanning several years. Its main consideration is the floating drawdown that can accompany its grid and position-sizing approach.
Our verdict: recommended for the shortlist
Boring Pips deserves serious consideration if you want a currency EA with a substantial trading history and clearly documented controls. The long-running IC Markets account gives us more useful evidence than a few weeks of launch results. At $229.95, the MT5 edition is an appealing option for traders comfortable evaluating multi-position strategies. It is not a low-drawdown substitute for cash, and the headline growth alone is not enough to choose a risk mode.
View Boring Pips MT5 features & pricing — $229.95 →
Evidence checked 11 September 2026. We reviewed the current MQL5 listing, manual, FAQ, release history, two public signals and buyer feedback. We have not independently forward-tested the EA. CheaperForex sells both editions; the purchase links below lead to our store.
The IC Markets record: years of history, rather than weeks
The developer’s Boring Pips Medium Risk signal is labelled a real MT4 account on ICMarketsSC-Live33, with 1:500 leverage. At this check, it showed 2,106.67% growth, 1,176 completed trades and a 2.40 profit factor. That duration and trade sample are the strongest reasons for our favourable assessment.
| History | 204 weeks displayed, with account history from 2022; MQL5 monitoring started 30 June 2023. |
|---|---|
| Funding / profit | $100 initial deposit, $8.59 additional deposits and no withdrawals; $2,132.03 trading profit. |
| Closed trades | 1,176 trades; 68.11% winners; profit factor 2.40. |
| Drawdown | 7.25% relative balance drawdown versus 38.57% relative equity drawdown. |
| Current snapshot | $2,240.62 balance and $1,849.20 equity: a $391.42 gap, approximately 17.47% of balance. |
| Holding time | Average position duration: three days. |
The record extends across several calendar years and changing market conditions. That makes it more informative than a backtest alone. The public monitoring start is later than the first historical trades, however, and the account is small in dollar terms despite its large percentage growth.
The balance/equity difference matters particularly here. A smooth series of closed profits can coexist with open losing positions. The lower equity curve and the recorded 38.57% equity drawdown show why a buyer needs tolerance for meaningful fluctuations. Future drawdown can exceed the historical maximum.
The Low Risk account gives another reference point
The Low Risk signal is a separate real MT4 account on RoboForex-Pro, with 1:1000 leverage. It displayed 248.72% growth, 749 trades and 22.07% relative equity drawdown. Its 156-week history label also predates public monitoring, which started on 5 July 2024.
This account recorded a lower maximum equity drawdown, but it is not a controlled comparison that isolates the risk setting. Broker, period and account conditions differ. Nor does its name mean minimal risk: a roughly 22% historical equity decline is still substantial. MQL5 also blocks copying subscriptions for its leverage above 1:500; that restriction concerns the signal-copying service.
What the strategy is trying to capture
The developer describes a reversal approach: locate supply-and-demand areas, measure slowing momentum across four timeframes, then trade an anticipated reaction. AUDNZD, NZDCAD and AUDCAD are the recommended markets. These crosses share currencies, so three symbols should not automatically be treated as three independent sources of risk.
The description attributes part of the signal calculation to AI and deep-learning methods. We cannot inspect that proprietary calculation. The more useful practical evidence is how positions are sized, grouped and closed, and how the running account behaves during adverse moves.
The public manual documents optional grid and martingale behaviour, enabled by default. Grouped entries can increase exposure while price moves against the initial trade. Disabling those options changes the configuration; it does not preserve the same expected return or the exact public signal behaviour.
Controls worth understanding before changing settings
- Risk mode and allocation: Boring, Low, Medium and High determine the selected operating profile. Base Balance is a percentage allocation used for sizing, rather than an amount of money automatically protected from loss.
- Position limits: the manual provides limits for simultaneous currency pairs and positions per group.
- Drawdown actions: stopping new entries and closing existing EA positions are separate actions. Stopping entries alone does not eliminate losses on trades already open.
- One-chart operation: the recommended three-pair setup runs from one chart. Duplicating that configuration across several charts can duplicate trades.
The developer’s FAQ recommends at least $500 for the three-pair setup and favours low-spread conditions. These are operating guidelines, not a guarantee that a particular deposit or risk setting is suitable. Compare actual spread, commission, margin and lot size when evaluating your broker.
Updates and the limits of a historical comparison
The current listing showed version 5.0, released 9 September 2026. Its release notes add first-entry modes, group-closing modes, scheduled pauses and spread checks on both opens and closes. The public manual still contains a 4.3-labelled interface, so it is useful background rather than a complete reference for every new input.
The dated FAQ describes a switch to Medium risk in October 2023 after earlier High and Low configurations. The 4.3 release notes also say some entry signals were removed from defaults following the June 2024 drawdown. The full signal is therefore a history of an evolving system, not one unchanged version-5.0 preset running since 2022.
The developer’s anti-overfitting explanation describes out-of-sample testing and stress tests that perturb entries and exits. Those are sensible questions to investigate when assessing a backtest. They cannot prove that overfitting or future losses have been eliminated; the public forward record remains a separate, useful piece of evidence.
Buyer feedback: strong support, with contrary experiences
Recent favourable reviews describe extended use, consistent results and helpful developer support. Gabriel Moura Cantanhede’s short July review is one example:
The feedback is not unanimous. In June 2024, Rafael Alfredo Capucho reported losses across several accounts and a mismatch with his tests. The developer disputed that this reflected the linked signal and stressed the recommended configuration. Another positive reviewer, jobo90, explicitly mentions drawdown periods. These accounts reinforce the need to compare settings and open exposure rather than assuming every buyer will match the headline curve.
Those older reports concern earlier versions. They are relevant history, but neither older criticism nor recent praise independently establishes how today’s MT5 build will perform. You can read the full range in the original MQL5 reviews.
MT5 versus the MT4 edition we also sell
The key practical advantage of MT5 for Boring Pips is testing the configured currency basket together. The developer explains that MT4 tests individual pairs and requires additional work to assess combined results. For a system with simultaneous exposure across related currencies, combined drawdown is more informative than judging each pair’s curve separately.
We also stock Boring Pips EA MT4 and have an MT4 product guide. Choose the edition compatible with your terminal. The linked public signals are MT4 evidence for the product family; they do not establish identical execution or results for the latest MT5 version.
Boring Pips review FAQs
Is Boring Pips suitable for gold or Bitcoin?
The developer recommends AUDNZD, NZDCAD and AUDCAD and says the strategy is not suited to gold or Bitcoin. Its approach depends on the behaviour of the selected currency crosses.
Does the Medium Risk signal use the same settings throughout its history?
No. The developer’s dated FAQ describes earlier High and Low settings before a switch to Medium in October 2023. Subsequent software updates also changed aspects of the strategy.
Why is equity drawdown higher than balance drawdown?
Balance reflects closed results, while equity also includes open positions. Floating losses can therefore create a much deeper equity drawdown before trades are closed.
What is the main reason to choose MT5 rather than MT4?
For this multi-currency EA, MT5 can test the configured currency basket together. The developer notes that MT4 tests individual pairs and needs additional work to assess combined results. Choose the edition compatible with your trading terminal.
Official MT5 product listing · Developer manual · Medium Risk signal · Low Risk signal