The SFI Indicator is introduced as a buy/sell signal for FX trading that can produce up to 79% win rates. The vendor also promises that this tool will deliver stable profits for you. So far, the owners have supposedly delivered 2109 orders.
This trading tool is a creation of SinryAdvice, a company that specializes in developing EAs and trading indicators for the MT4 platform. The firm works with 18 professionals to fulfill its mandate. Sad to say, SinryAdvice does not give us comprehensive credentials of its staff to at least convince us that they know what they are doing.
The headquarter office is in Malaysia. Some of the employees are also based in India, Turkey and the United Kingdom. Examples of the other products in this vendor’s portfolio include Scalp pro indicator, TJ10X Forex Indicator, Swing VIP, SFI EA etc.
SFI Indicator strategies and tests
SFI is basically a downloadable file that assesses your trading chart and the market trend to supply you with trading signals. It will illustrate the time a trade opens and closes which, in turn, assists you to place orders effectively.
The strategy mainly entails predicting alterations in price in the currency market. However, it is not clear the formula the indicator applies to make such forecasts. It is also difficult to ascertain the accuracy and efficacy of such predictions.
The features of this trading tool are listed below:
- Works on all time frames
- Supports all currency pairs and is not for the stock market
- Beginners can easily use it
- It is non repaint
- Free installation and setup tutorial videos are provided
- Free updates are present
- Pop up notification and sound alerts are available
- Runs on the MT4 platform
Backtest results for the SFI indicator are missing. We need this kind of data to tell us if the strategy used by this trading tool has good returns or not and whether it carries low or high levels of risk. Since it is unavailable, potential investors may hesitate going live with the approach as they wouldn’t know what to anticipate.
Live trading account review
We only have a picture as far as live trading results are concerned. This image illustrates the supposed data from myfxbook.com but there is no link to direct us to these statistics. We highly suspect they are fabricated. Nonetheless, let’s evaluate what we have.
According to this image, the account was deployed on April 28, 2020. The figure 178% is highlighted using a larger Font to show us that the account was very profitable as it made gains amounting to this value in just 4 months.
The deposit was $2493.62 and the signal made a profit of $1732.35. It also made daily profits at rates of 1.24% and 44.64% respectively. The drawdown of 6.72% was not something to worry about. The balance was $2225.97 after $2000 was withdrawn.
The vendor previously sold this indicator for $80 but is currently offering it at $48. This price is cheap and hence affordable by many. However, there is no money-back guarantee. Your money will have gone down the drain if you come to discover later that this indicator is not for you.
Is SFI Indicator a scam?
The SFI Indicator is more of a scam than the real deal. The developers’ lack of transparency is a big concern. Despite indicating that their product has a high win-rate, they do not bother to provide us with real trading results so that we can verify their claims. The missing backtest data also raises our suspicion about this vendor’s credibility. It is highly likely that their software does not perform well and this is what they do not want traders to see.
There are a bunch of customer reviews for this software on its official website. But they are unreliable since they are images of comments lifted from the system’s Facebook page. This is a big joke. Reviews from professional and trustworthy sites like Trustpilot and Forex Peace Army would have been more persuasive.