We’d like you to read a review of Profit Forex Signals. It’s a signal-providing service. These signals are introduced as the best signals ever. The promo video does its best to convince us to buy the service asap.
The team includes Nino, who’s CEO, and Anna, who’s a trader.
The rest of the employees look like people from stock photos, compared to the quality of photos of the owner and the main trader.
- The company has over 10-year business experience.
- The system generates over 1 million pips.
- We can expect to get over 10000 pips monthly.
- There’s a 90% accuracy.
- The signals can generate 300% ROI monthly.
- There’s welcome 24/7 support.
The developers mentioned a breakout strategy, and pending orders can be useful for it. The strategy is focused on breaking out support and resistance levels and making significant profits.
How to start trading with Profit Forex Signals
- All signals are delivered with a format with direction BUY or SELL, Entry Price.
- We can receive signals via SMS, email, and trade copier.
- Signals are pending orders. So, we have up to an hour to fill them.
- We’re not sure about this statement.
- They have never lost three deals in a row.
- The vendor provides free trade-copying software.
- The company provides a free VPS service.
- SL levels are 35 pips.
- The company can help us with money management.
- The myfxbook widgets show that the account has been going down.
- They had an eleven-year-old award from a no-name award company.
There are four packages: Standard 1000, Professional 2000, Ultimate 5000, and Pearl 9000. The packages vary by the number of pips. Standard ($49 monthly) and Professional ($99 monthly) packs allow us to get 10+ signals weekly. Ultimate ($249 monthly) and Pearl ($499 monthly) packs increase the win-rate to 90%. We can get alerts from Whatsapp and Telegram as well. All packs are featured by VPS and copy-trader.
The dev failed to provide backtests on their web.
Trading Results of Profit Forex Signals
From the profile, we know that according to the charts, something is going wrong with robots.
We’ve got a demo USD account. It was created on IC Markets on March 23, 2020, and funded at $3000. The track record is verified. The leverage is set at 1:500. The robot runs on the MetaTrader 4 platform. Both gains are profitable: the absolute is +41.09% and average monthly – 3.48%. The maximum drawdown is high as for the number of monthly profits – 22.04%.
The drawdown chart shows that EA experiences long-term drawdown periods.
The robot traded 1617 deals with 1760.1 pips. An average win deal is 11.98 pips when an average loss deal is -22.55 pips. The win-rate is 69% for the BUY direction and 67% for the SELL direction. The profit factor is impossibly low – 1.10. An average trade length is almost seven hours and it’s okay as for a breakout strategy.
The EA can make profits only on EUR/USD – 1299 deals and $1769.
The robot focuses on trading during the European trading hours.
Thursday (214) and Friday (58) have fewer traded deals every week.
It runs the account with medium risks to the account balance.
Sometimes, the EA opens a grid of orders and closes it with huge losses.
The robot has never been a stable and predictable trading solution. January 2021 shows that our account can be in danger.
It’s a scam because the real rate is 4.4 based on 212 reviews.
As we can see, the company screwed, declining to pay a trader who doubled their account.
There is an onsite rate system with many positive comments.
Is Profit Forex Signals a viable option?
- VPS and Copy-trading software is a part of a package
- Much feedback on Trustpilot
- No traders who generate the signals revealed
- No money-management advice given
- No strategy explanations provided
- No backtest reports provided
- Trading results are horrible and unpredictable
- Overpriced offers
- No money-back-guarantee provided
- Many manipulations in the presentation
- Many negative testimonials on the Trustpilot
- The owner acts fraud with his employees
Profit Forex Signals is a service that provides signals for everyone. From the presentation, we have a thought that the strategy is based on the breakout pending orders. It’s hard to tell for sure because no backtests are provided. Trading results let us know that the signals are scams. Only in half of January 2021, the robot lost over 7% of the account. Profit Forex Signals have the most overpriced offer we’ve ever seen.