FX Profit Signals claims to be a potent FX trading tool that provides accurate real-time alerts that help you in achieving the best results in Forex. As per the vendor, the alerts provide info on the best trading method, time, and currency pair. The company has been providing its FX services since 2016 and comprises a traders’ team that has 10 years of experience in financial markets.
We could not find company info like a location address, phone number, etc. For support, an online contact form and messaging via Telegram are the methods the firm provides. The vendor offers free and paid plans.
Under the paid plans you get the VIP, FX Premium, and FX Premium Black packages. The cost ranges from 45 EUR to 99 EUR for the monthly subscription and 84 EUR to 174 EUR for the 6 months plan. There is no money-back guarantee present which makes us suspicious of the reliability of the service.
Some of the main features that this company offers to its registered users include:
- Real-time trade alerts that are sent via email and Telegram
- Paid alerts that include market execution and pending order types
- Assurance of completeness, accuracy, and 24/7 technical support
- Provide info on the strategies like a trend reversal, trend following, and more
- Offer guidance on the critical areas that help you succeed in trading
- XM broker is recommended by the vendor for ensuring the best results
- Recommends starting with $10000 and $1000 for the standard and mini accounts respectively.
FX Profit Signals trading approach
As per the info on the official site, the experienced traders of the company use various manual strategies. With technical indicators,they analyze and arrive at decisions for the entry point, SL, and possible targets. We find the explanation is vague and does not help to understand the approach used and the efficacy.
The vendor does not provide backtesting reports. It is a well-known fact that the performance seen in backtests cannot predict future performance due to the use of historical data. But traders use the backtests to know about the approach and its effectiveness.
FX Profit Signals live trading results
There are signal results published on the official site for the VIP, Platinum, Binary Option, and gold signals. One of them is shown above. The results reveal info like the currency pair, buy/sell order, entry and exit prices, and the profit/loss in pips. However, the results are not verified by reputable third-party sites like Myfxbook, FXBlue, FXSTAT, etc. We prefer verified results from such sites as they provide detailed info including the net profit, drawdown, profitability, risk/reward ratio, and more.
What are the risks With FX Profit Signals?
From our evaluation of the various characteristics of this service, we have identified the following factors that influence its safety and reliability.
- The vendor does not provide a proper explanation of the strategies used for signal generation.
- There are no backtests to know about the strategy and verify its efficacy.
- No proof of performance verified by sites like myfxbook, FXBlue, etc. are present.
- Alerts are sent in real-time via email and Telegram messenger.
- The vendor assures a low spread and fast withdrawal when you use the recommended broker.
We found 5 reviews for this company on the FPA site with a rating of 1.156/5. Here are screenshots of some of the recent feedback:
From the above responses, we can see that the signals have plenty of technical issues and cause a big loss of money. One of the users claims that the paid plans are a scam and cause you to lose money.
FX Profit Signals Conclusion
As an FX signal service, FX Profit Signals claims to provide a high winning rate with its trade alerts. Our review of the different characteristics of the service reveals certain advantages and drawbacks. On the plus side, the company offers free and paid packages to choose from with a diverse range of features. The signals are generated by experienced traders ensuring accuracy. However, there are some shortcomings like the vague strategy explanation, the lack of a proven track record, expensive packages, and the absence of a money-back guarantee.