FX Profit Signals is a trading company that generates signals for everyone. The company has in the portfolio a FX Profit Signals EA and Goldstar Indicator. They mentioned that the company was created in 2016. There’s a claim that “Learn, Trade, and Profit with the Best Forex Signals.” We are here to check it out.
People asked us many times in emails to review this service. The company has no mentions about the legal registration that could help us to identify them correctly if something goes wrong.
What is behind FX Profit Signals?
The presentation has some explanations about how the signals look and how they can help us with working on a real account.
- The service provides us with some free signals to be good.
- There’s a “powerful Forex trading analysis tool that provides subscribers with Buy/Sell trading signals.”
- The signals are delivered quickly.
- They can teach us how to trade better.
- There are free signal packages available.
- The win rate can be high.
- They include the following intel: Time, Entry Point, Direction, Cross Pair, Take Profit and Stop Loss.
- We may do no extra actions.
- They “give us strategies for all market conditions (trend following, for trend reversal, or counter-trend trading).”
- There are “the critical areas.”
- This claim was delivered without explanations.
- The system provides “clear entry and exit points.”
- The devs provide us with clear trading ideas.
- We can customize our risks with the devs’ help.
- We are allowed to use copy-trading software.
- “Everything was developed only by professional traders, developers, and analysts.”
- The developers have over 14 years of trading experience.
- There are training videos on the account page provided.
- We don’t know details about currency pairs.
- The time frames weren’t mentioned either.
- The devs provide free signals.
- We can check these before investing real money.
The strategy should be a conservative one to fit all people’s expectations. It allows trading with better win rate and lower drawdowns.
The presentation doesn’t include backtest reports that would convince us that the system behind these signals was tested properly. It’s a significant disadvantage because we have no idea how the robot worked with the past data.
We have a complicated offer. There are four packages available. The one-month subscription costs €45 when the three-month subscription costs €90. There are 5-7 short-term signals daily, 1000-2000 pips monthly, a telegram channel, and 24/7 welcome support. The half a year subscription pack is available for €140. The annual subscription pack costs €210. The last two packs include a robot.
The developers explain to us the next about the packages:
- We can get better results.
- We can expect to get signals for Gold, Silver, and WTI in addition.
- If something goes wrong, they will inform us.
- “The premium members exit the market profitably twice as often.”
Trading performance of FX Profit Signals
We have only reports that weren’t received from verified trading accounts. We may see that it looks like these signals are profitable. It’s a con that the devs don’t show an account where these signals are copied from. It’s kinda suspicious, because copy-trading works based on the signals from a master account.
We don’t know for sure how good their support is because of the lack of comments.
The company has a page on Forex Peace Army with five testimonials written that formed a 1.156 rate. There are no trading accounts connected.
We have so many negative testimonials about the signals that do not fit peoples’ expectations.