The vendor tries to convince us that FX Profit Signals is a lucrative service. They say that their signals are powerful and can produce favorable outcomes in your account. We are further informed that the signals are profitable throughout and have attained 35638 pips for a year. We cannot believe these claims at face value. An in-depth analysis of the service is needed to gauge if they are true or not.
What is FX Profit Signals?
The service has the following features:
- Signals are posted when a trading opportunity is presented from 8am to 5pm (UK and US sessions) at GMT+2 and GMT+3.
- You can get these signals through the Telegram app or email.
- A free trial period is available.
- The provider recommends that you begin trading the signals with a minimum of $10 in a standard account or $1000 for a mini-account.
- The CedarFX broker is recommended.
Official FX Profit Signals website
The official website is flooded with a lot of information. The vendor seems to be committed to ensuring that you understand everything about trading signals. Some of the topics covered include basic information on Forex signals, introduction to Forex, trusted brokers, pricing packages, trading tips, the signals’ current performance, FAQs, and much more.
FX Profit Signals works with a team of traders purported to have over 10 years experience in the financial markets. As per the vendor, the team was created after researching the Forex market for many years. Only one member of the team, Matthew Adams (a senior Forex analyst), has been revealed. We believe traders would want to be introduced to the other members too. This way, they can determine if the people they are entrusting their money to are qualified or not.
How can we use FX Profit Signals?
Subscribing to this service allows you to receive trading signals. As such, the company will share with you the buy/sell orders, entry point, stop loss, and take profit through the Telegram app or email. You can then copy these details on your trading account.
Pricing and refund
If you want short-term signals, then the VIP package is for you. The cost ranges between €45 and €108. Each plan features 5-7 signals daily for currencies, sound alerts, 24/7 email customer support, and a promise to earn you 1000-2000 pips monthly.
Platinum signals are long-term. However, in this case, the vendor provides 4 different subscription plans that include both short and long-term signals (VIP+Platinum channel). The cheapest offer is €69 while the most expensive is €180. The 3 months and 6 months plans will require you to pay €87 and €144, respectively.
The additional features present in this plan are; trend reversal signals, 1-2 long-term signals daily, signals for currencies/gold/silver/platinum/brent/WTI, and analysis for each signal. You are also promised 2000-3500 pips/month and buy/sell limit and buy/sell stop orders.
As for the strategy used by this vendor, there isn’t much to say. The devs indicate that they will give you strategies for all market conditions, including trend following, trend reversal, or counter-trend trading. Sadly, the team does not reveal the specific approach they rely on to identify opportunities for trading.
There are no backtest results for this service. It is a wonder that the devs are unwilling to test the workability of their strategy and show the public the results.
We find it suspicious that the vendor is not ready to use an independent site such as FXBlue or Myfxbook to trade their signals. They only provide the supposed monthly performance of the signals in a tabular format. The problem with this data is that there’s no way of knowing if it is genuine or not. Anyway, find below the stats illustrating the service’s performance in November 2021.
The stats above show that the signals were used on different currency pairs. A total score of 4985 was realized after 72% of the signals were successful.
What customers say
The 1.156 rating the company received on FPA is a sign that customers are not satisfied with its services. Traders are saying that the signals are being selected randomly and are not profitable at all. As a consequence, they have suffered losses.
Summary: is FX Profit Signals trustworthy?FX Profit Signals
Trading results3/5 Neutral
- A free trial period is provided
- You can easily receive signals through the Telegram app or email
- Negative user testimonials
- Backtest results are missing
- Available live trading stats are unverified