M15 Signals boasts of supplying traders with highly accurate trading signals. In fact, we are informed that since the company began this business more than 2 years ago, their signals have not recorded any losses yet. We find this hard to believe. Our review will expose this company as a liar and an inefficient service provider.
M15 Signals is said to be registered by the Accounting and Corporate Regulatory Authority as a Private Limited Company for conducting business activities. It is situated in Singapore. The company quickly notes that the trading department is very skilled and has been trading in Forex and commodities professionally for more than 9 years.
There are many companies out there purporting to offer proficient signals services. They promise to change your trading experience by offering signals that can help you rake in high amounts of profits in Forex. M15 Signals is one of them. We have decided to assess this provider to determine if it is providing genuine services or it is just interested in making money from traders.
What is behind M15 Signals?
As the name suggests, M15 Signals is a company that provides trading signals. The vendor uses a 3-step process to supply these services. In the first step, you are required to choose one of its premium plans. The second step is to join the Telegram channel and verify your premium account plan. Lastly, you can begin receiving signals through the Premium Telegram channels.
The services of this company feature the following:
- Short term signals.
- Telegram live alerts.
- No manual close.
- Signals for currencies and gold.
- Risk management advice.
- Two to eight signals daily.
- Signals time: Asia, London, and USA.
- Three take profits per signal.
The M15 Signals team does not tell us the strategy they use to choose signals. Therefore, we do not know what their decisions are based on. In most cases, signal providers that fail to reveal their trading techniques do not know what they are doing. As such, they mainly select signals at random.
Backtest results are also missing. We are not surprised. The devs don’t have anything to test since, as mentioned earlier, they may be using guesswork to generate these signals. This laxity on their part can be costly for you.
M15 Signals offers different subscription plans. Traders who want to get the services for a month are required to part with $60. Those interested in the 3 months or 6 months plans have to pay $120 or $190, respectively. These prices are quite expensive and hence not worth the money.
Trading performance of M15 Signals
The team does not show us how their signals perform in the live market. If the signals are as accurate as purported, then they should have verified records on Myfxbook or other credible verification sites. Since this is not the case, you will not know how much the signals earn or the drawdown levels they generate. This is a huge disadvantage because you may end up not getting what you hoped for, and you will have no one to blame but yourself.
The presentation features a contact page. It includes a form you can utilize to fill in your details and questions regarding the services offered. Nevertheless, the vendor does not provide an email address that traders can use to reach the support team. We also have Facebook, Instagram, and Twitter handles. These platforms can be used to contact the team as well.
The rating of this signal provider on FPA is 2.095. This shows that most of the traders are dissatisfied with the services offered by this company. We have taken a sample of the negative reviews, and what is clear is that the signals generate losses and are products of pure guesses. These testimonials confirm what we long suspected.