Profit Forex Signals claims to be the best signals provider since the year 2010. According to the developer, this system has generated a profit of more than 1000K pips. They also guarantee that the service will make you a minimum of 300% ROI or 9000 pips on a monthly basis.
The parent company behind this service is known as M&A Pro Consulting LLC. Its headquarters is located in Trade Business Center, New York, United States. The team has been in the business for more than 10 years. It consists of expert analysts with several years of experience. Apart from the CEO Nino and the main trader Anna, we don’t know the identities of the other team members. It is unclear whether this company has built other trading systems in the past.
Not all signal providers are profitable. Some are not based on sound strategies and this means you won’t be winning profits consistently with them. This is why we need to analyze the various aspects of the system before investing in it.
This system is supported by verified trading statistics. According to the seller, it is the number 1 rated Forex signals service approved by 35,000 clients since 2010.
What is behind the Profit Forex Signals?
This service offers traders recommendations via platforms like Skype, email, phone, and webchat. It provides short stops having the lowest drawdowns and quick turnover rates. The drawdown limit for each trade is fifteen pips. Usually, the stop loss is 35 pips away from the entry point.
The vendor claims that the maximum drawdown is only 15%. All of the alerts are pending orders and after receiving them, you have 30-60 minutes to enter the trade. With each alert, you will find entry, stop, and target point.
This service supports currency pairs like AUD/CAD, AUD/NZD, EUR/CAD, EUR/GBP, EUR/USD, GBP/CAD, GBP/USD, and NZD/CAD. While trading micro-lots, you can begin with only $250. However, the vendor recommends using more to maximize returns. This service has partnerships with brokerage firms like IRONFX, DoitFX, LMFX, and IC Markets.
We don’t know anything about the trading strategy used by this service. We don’t know how the analysts generating the signals look for profitable trading opportunities. As such, it is difficult for us to analyze the profitability of the signals.
EA vendors often test their automated strategies using historical data. Since this is a signals provider and not an automated trading system, we don’t have the backtesting results for it.
There are four pricing plans for this service known as Standard, Professional, Ultimate, and Pearl. The monthly charges for these plans are $49, $99, $249, and $499, respectively. With the more expensive plans, you get more profits on average, and more signals per week. You can file for a refund in the first 7 days of your membership.
Trading performance of Profit Forex Signals
Here we have a live trading account on Myfxbook that was launched on January 24, 2022. Thus, it has a very short trading history during which it has conducted only 70 trades. The current win rate for this account is quite high at 91% and the total profit is $192.51.
At this moment, the daily and monthly win rates are 0.76% and 23.46%, respectively. Although the vendor claims that the system has a low drawdown, we can see the drawdown for this account is very high at 41.65%. This tells us that the robot is following a trading scheme that is risky. The account has a very high profit factor of 3.55.
From the trading history, we can see that the robot trades with a constant lot size of 0.05. It generates profits at a steady rate, holding each trade for a few hours and sometimes a few days. The average win and loss are 9.45 pips/$4.19 and -23.70 pips/-$12.58, respectively.
This service offers customer support via email and phone. The website also has a live chat feature.
There are no user reviews for this signals service on trusted third-party websites.