FX Profit Signals comes with manual trading records and provides free and paid signals through their Telegram group. Each trade comes with a detailed analysis to help beginners understand the viewpoint of trading. We will review the service and see if the expert advisor works for risk management and if their strategy is profitable.
FX Profit Signals strategies and tests
Traders can use the robot after following the steps:
- Once the system is purchased, the author sends over the premium group link
- Traders have to copy the trades from there
- Signals are also available to copy through the automated software
The author states that they follow a trend, counter-trend strategy for trading. There is a clear exit for each trade. They also use algorithms for risk management purposes and determine the market’s momentum. From the closed positions on the website, we can see that they use a stop loss of 60 pips and have multiple take profits for each position. Unfortunately, there are no live records that are tracked by a performance tracking website that we can use to determine the product’s true methodology.
The service has the following features:
- Free signals are available to judge performance
- Each trade comes with a detailed analysis
- Traders can use the automated software to copy trades automatically
- The developers provide traders with multiple algorithms
There are no backtesting records available for the trading strategy used by the signal providers. With forex simulators, they could have informed us of their performance on historical data. Failure to enlighten us raises many concerns about their authenticity.
FX Profit Signals live trading account review
There is no tracking available on websites such as Myfxbook. All the tracking is done manually on the website for each individual month. For November, we can see that they bagged in a total of 4985 pips and had a 72% winning rate.
Having verified performance records is a good way to provide clear results for your system. Again, the authors refrain from giving us the necessary information.
The developers provide their service through Telegram channels. There is a free group that provides signals for some pairs so that traders can get a taste of their methodology.
The other services include a premium and a VIP package. Monthly premium packages cost €69 while the VIP is €45. The two programs differ in the type of signals available to traders.
There are also Premium Black Packages which include trades for binary signals. Traders can purchase that program for 99 Euros a month.
Is the FX Profit Signals a good system to rely on?
FX Profit Signals is not transparent on their live and backtesting records. The company does not provide us with information on their whereabouts and trading experience in the market. This raises many questions about their credibility.
There are 4 customer reviews present on Forex Peace Army about the service, which gives them a 1.198 rating. One of the traders says they are not a good service and are running their business model by showing fake profitable trades in the free group. He states that he has been using them for two months and purchased the six-month package previously.