FX Leaders is a company providing Forex trading services including concepts and recommendations on trading, market news and analysis, and Forex signals. The company promises to provide trading insight and help with fundamental and technical analysis. Real-time notifications on all market instruments combined with trade recommendations and concepts are part of the signal service the company offers.
Skerdian Meta is the leading Analyst managing signal generation. Other team members include Arslan, a commodities and indices analyst, Shain, a market analyst, Eric, an experienced trader and trading education writer, Rowan, a market analyst, and a few others. Info about the team members is present in the About Us section which includes their trading knowledge and experience along with their LinkedIn profile. The company is based in Israel and the official site has the location address. An online contact form is the only customer support option provided.
The pricing of this signal system is $9.80 per month for the annual plan. Instant alerts and email notifications for signals are part of the package. No money-back guarantee is on offer for this service.
Signals of short-term traded on time frames ranging from 10 minutes to as long as a few hours are part of this service. A range of 15 to 50 pips is possible based on the market situation with this format.
In the long-term category, the time frame starts from one day and can extend up to four weeks or more. The longer span provides a higher pip range from 70 to 250 pips. Besides these categories, the company offers signals for commodities like crude oil, platinum, silver, gold, and palladium. Crypto trading is also present and as per the vendor’s claims the analysts’ team has the expertise to handle the volatile cryptocurrencies.
Other features mentioned by the vendor include a performance report for the signals, which is however on offer only for the premium members. Premium membership also includes notifications sent via mobile and email. The vendor does not provide recommendations on the currency pairs, minimal deposit, leverage, and other relevant aspects.
FX Leaders Trading Approach
We are disappointed to find that the vendor does not disclose the strategy used for the signal generation. Instead, there is mention of manually managed approaches created by the experienced analysts of the company. The vendor claims that manual generation is more effective than automation. The lack of explanation of the strategy raises our suspicion about the reliability of this company.
No backtests are present which further confirms our concerns about the reliability of this company. Although backtests are based on historical data, they help traders to know how the system works. Without backtests, it is difficult to evaluate the approach and its efficacy.
FX Leaders Live Trading Results
Other than the mention of a profit/loss report, which is available for premium members only, the vendor does not provide verified results of the trading. We prefer results verified by sites like Myfxbook, FXBlue, FXStat, etc. This is because the sites offer plenty of details that provide insight into the performance, approach, and risk level present. The absence of verified results raises a red flag.
What Are The Risks With FX Leaders?
From our analysis of the signal provider, we find that the company is not trustworthy. Some of the risks we identified in this provider include:
- Lack of strategy explanation
- No verified trading results
- No money-back guarantee
We found feedback from customers on the Trustpilot site. Of the 30 reviews, a rating of 3.3/5 is present for this service. Here are screenshots of the negative and positive reviews:
From the negative reviews, it is clear that the company is fake, and there is no way to recover lost funds. One reviewer mentions the recurrent stop losses that increase the drawdown, which results in the wiping of the entire account.
What are the Pros & Cons of Investing in FX Leaders?
|Manual signal generation||The strategies are not disclosed|
|Use of multiple strategies||No backtests|
|No verified trading results|
From the pros and cons, it is clear that the company does not provide proof for its claims of profitable trading.
FX Leaders conclusion
FX Leaders provides various different services with its main focus on signal generation. But the company does not reveal the approach it uses for the signals. Verified trading results are also not provided which further confirms that this service does not have a proven track record. Without backtests and trading results we find that the company is not transparent about its performance. While there is mention of a performance report provided for premium members, it is not verified which makes the report unreliable. In short, we do not recommend this signal service.