Signal Factory is a trading service that focuses on generating signals for Forex traders and institutional investors. The presentation seems to be below average because we don’t have backtest reports or trading results here. The devs claimed that it’s “Best Forex Signals From Live & Profitable Professional Traders.”
The service doesn’t have a legal registration that would convince us that they are professional traders for sure. This looks suspicious. At the same time, the devs don’t provide us with profiles on MQL5 or similar sites.
What is behind Signal Factory?
The presentation includes short explanations about what we have to expect and a bit about how cool the developers are.
- “Signal Factory provides a bridge between professional Forex traders and retail traders that are looking for real time advice.”
- We can get those signals automatically on our terminal.
- The main account is working under real market conditions.
- The drawdowns can be low.
- There are over 45,000 satisfied clients in the community.
- We can’t check this statement out.
- If the account stops being profitable, it’s delisted immediately.
- They receive signals from various sources and unite them under their service.
- The risks are fully customized by us.
- The signals have no hidden commissions.
- We can work with any broker house.
- The signals include SL and TP levels.
- We can manage risks of the signals delivered from the master account.
- We don’t know what pairs are good to trade.
- The devs didn’t disclose time frames.
- Trading strategies aren’t clear.
- The devs claim that there’s no risky Martingale applied.
- Lot sizes can be fixed.
There are no backtest reports published on the site. This doesn’t look right because it’s common to share reports of how the system worked with different cross pairs and what profits it could achieve. This should help us to understand what results we will be able to rely on.
We have four packages where there’s a single one for $49.99 monthly, copy trading from the Algobot Gold for $199.99. There are also Algobot Signal Package for $99.99 and Algobot Trade Copier for $199.99. The developers decided not to support us with refunds and not to explain the packages’ features.
Trading performance of Signal Factory
The developers don’t provide a Myfxbook or Fxblue widget on a real or at least demo account where the system executes trades. It’s the core part because if they provide a copy-trading service this means that there’s an account from which those signals will be sent. If the devs decided to hide this, it looks suspicious and doesn’t increase a level of trust.
We don’t know how good their support is because there are no testimonials written about it.
There’s a page of the company on Forex Peace Army. There are three reviews written that formed a 2.081 rate.
Former clients blamed the service for being not profitable. So, we have nothing to add.