Profit Forex Signals has been providing its clients with trading ideas since 2010. The company purports to offer the most lucrative and reliable signal service online at great and very competitive prices. Furthermore, the service is said to demonstrate super high performance in the live market and generate up to 9000 pips monthly.
What is Profit Forex Signals?
The services offered by the vendor are listed in this section:
- It offers simple to use signals and 24/7 customer support.
- The signals can trade on the major pairs like GBPUSD and EURUSD.
- You can start trading with a minimum deposit of $250 or less.
- The service provides traders with notifications on signals through SMS, email, Telegram, and WhatsApp.
- It offers 10-20 signals weekly depending on the package you subscribe to.
Official Profit Forex Signals website
Profit Forex Signals’ official site is divided into 7 main sections; Home, About Us, Signals and Tradings, Performance and Results, Pricing, Pearl Package, FAQ, and Contact pages. So, you can easily click on any of the pages to learn more about the service.
The company is composed of expert traders who have traded in the Forex market for many years. The team members, Nino (CEO), Anna (Main Trader), Chris Doe (Manager), Julie (Support), and Robert (Trader) are introduced on the company’s official page. But we are not given any details about their professional backgrounds or work experience.
How can we use Profit Forex Signals?
Once you complete the payment process, the team begins supplying you with signals, which you can use to trade on your preferred instruments. All alerts are pending orders, so you will have 30-60 minutes to initiate a trade. Entry, stop, and target points are included in the alerts. The company also manages accounts for some of their clients.
Pricing and refund
Profit Forex Signals offers a variety of packages, and they are quite expensive for a signal service. For the standard 1000 package, the price is $49/3months, while the professional 2000 plan costs $99/3months.
The ultimate 5000 and pearl 9000 offers are available at $249/3months and $499/3months, respectively. These packages come with a free VPS and copy trader. The vendor also claims to offer special plans. The subscription investments you pay are safeguarded, providing you with free service for 3 months if the team doesn’t make 400 pips monthly for you.
The vendor explains that their access to real time critical info enables them to track the most recent info on price movement. As such, they keep info on when an Asian central bank will initiate a trade on EURUSD and the price it will offer. The team also tracks the England Central bank to know when it launches its strategic financial plans to defend the market. Unfortunately, we are not told how exactly the professionals use the findings to identify signals for trading.
Backtest results are missing, which makes it hard for us to predict how the above strategy performs over a long trading period.
This account was opened less than a month ago and deposited at $1000. Already, the signals have generated a large drawdown of 41.65%, indicating that the strategy used is dangerous. The projected monthly gain is 26.49%, and is a pretty decent figure. To date, the profit made is $174.26, and this has increased the balance to $1174.26.
Till now, 52 trades have been conducted using the signals, and the win rates attained for long (83%) and short positions (92%) are good. The average trade length is 13 hours and 29 minutes, while the profit factor is 13.09. The average win (9.19 pips) and average loss (-4.92 pips) values show us that the signals generate more wins than losses on most occasions.
The data above demonstrates that the signals trade on more than one currency pair and have generated more profits than losses for the account.
What customers say
Profit Forex Signals has received hundreds of reviews on Trustpilot, but the regulation team on the website notes that they have detected several fake reviews for this company. So far, most clients are happy with the service. In fact, one of them says that he has made profits since he began using the signals in July 2021. However, another one claims to have incurred losses, and the vendor has refused to cancel his subscription.
Summary: is Profit Forex Signals a trustworthy service?Profit Forex Signals
Trading results2/5 Bad
- Live records are availed
- Provides notification alerts
- High drawdown
- Suspicious conduct by the vendor
- No backtest results