Forex Robots

FX Profit Signals Review: A Poor Service

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FX Profit Signals

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

Strategy explanation

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 history of the system

The history of the system

Features

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

Backtesting

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.

Pricing

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.

The pricing plan of the service

The pricing plan of the service

There are also Premium Black Packages which include trades for binary signals. Traders can purchase that program for 99 Euros a month.

The pricing plan of the service

The pricing plan of the service

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.

People feedback

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.

Customer review on FPA

Customer review on FPA

FX Profit Signals

5

FX Profit Signals is not transparent on multiple factors. The company does not track their live records through Myfxbook records and is unclear about their trading experiences. We fail to find good reviews about them on notable websites.

  • Explains the strategy properly
  • No transparency of the developer
  • No backtesting records
  • No live records
FXTechLab Staff
Our team consists from professional traders with over 10 years of experience carrying a mission to simplify automated forex trading for everyone.

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