Price Action Forex Ltd is a company purporting to assist traders to fulfill and reach their trading goals. It promises to ensure that they get consistent profits and at the same time, simplify their trading process to prevent confusion and losses. However, we have realized that these statements are just meant to lure gullible traders to invest with the provider.
The official website is pretty much flooded with different sets of information. You would hence think that they would take time to explain who they are, but they don’t. An “About Us” page is conspicuously missing. Therefore, searching for the experiences and qualifications of the professionals behind this company is an exercise in futility.
Price Action Forex Ltd strategies and tests
Price Action Forex Ltd is a signal provider. In essence, the vendor finds trading signals they believe will profit users. These signals are then sent to clients through Telegram. The features of the company’s services are listed below:
- Provides 5-8 signals in real time through Telegram
- Live charts are also available
- Focuses on the London and New York session (applicable to the PAFX package)
- Telegram live alerts are available
- There is a 24/7 customer support
- Provides free signals, projections, and analysis on its free channel
- Traders are advised to take 1-2% risk per trade
- The suggested brokers include Tickmill, Hugosway, VantageFX, IC Markets, XM, Hot Forex, FXTM, BDSWISS, OctaFX, USGFX, and FXChoice
- Trailing stop losses and take profits are applied
- A trading bot is on offer (PAFX Algo)
The vendor doesn’t disclose the strategy their signals apply. They also do not tell us what trading logic their robot utilizes. So, traders who subscribe to their services will not have a clue about how these signals or the bot work. In short, they will be trading blindly, and this is very dangerous especially in Forex where many risks abound.
Backtest results are not included in the company’s sales pitch. There is no way of knowing how well or poorly the signals worked in the past. This disadvantages potential traders.
Price Action Forex Ltd live trading account review
Price Action Forex Ltd has also failed to post live trading results from trusted sites like FXBlue, FXStat or Myfxbook for interested traders to track. Instead, they have displayed screenshots apparently showing the performance of their products. The content in these images are unverified and hence cannot be relied on.
We also noted that there is a link that is supposed to direct people to their robot’s live trading results on Myfxbook.com. However, we clicked on the link but could not find the data. This made us doubt the trustworthiness of the vendor even more.
Price Action Forex Ltd’s products come in different plans. We have explained them below in detail:
- Price Action Forex (PAFX) packages.
To get the novice offer, you will pay $40/month. The intermediate one costs $30/m for 3 months. The advanced option is $25/m and this price is valid for 6 months. The professional plan is the cheapest as you can purchase it at $17/m for 12 months.
- PriceAction Indices, Commodities & Crypto (PAICC) package.
The novice offer is priced at $75 per month while the intermediate one is $38/m and can be acquired at this price for 3 consecutive months. The advanced option is a 6month package that costs $30/m. The professional offer can be purchased at $23/m for 12 months.
- Scalp packages.
The novice offer is available at $37 monthly. The intermediate plan requires you to pay $29/m for 3 months. For the advanced and professional packages, the price is $21/m (for 6months) and $16/m (for 12 months) respectively.
- PAFX Algo packages.
To get the 3 months plan, you are asked to pay $20/m and you will get a 1 month free VPS as well. The 6 months offer is being sold at $17/m and also comes with one month free VPS. A payment of $14/m is needed to get the12 months package and you will get 2 months free VPS. The lifetime option is the most expensive. It requires a one-time payment of $229. A 4 month free VPS is also incorporated.
Is Price Action Forex Ltd a scam?
Price Action Forex Ltd is definitely a scam. There is no track record showing that their strategy works. They also hide their identity and do not say or explain which approach they use. If they were legit, then they would not have any problem providing the public with this info.
We found several reviews for Price Action Forex Ltd on Forex Peace Army, and a majority of them are negative. The company has been given a rating of 1.431 by 55 traders. Clearly, the users are not satisfied with this vendor’s services.
Customers have disclosed that contrary to the vendor’s claims, the signals offered are not profitable and mainly generate losses. This has led the users to label the professionals scammers and liars.