M15 Signals provides 2 to 8 trades each day and closes them out within 24 hours. The company claims to have an accuracy of 90%, which seems quite interesting as no trading strategy in the market has such a high win rate. We decided to overlook the services offered by the providers and see if we could generate any profits after utilizing their trades.
The company is not willing to provide us with details on their experience in the financial markets. They claim to have been based in Singapore, but there are no certificates to show the registration of the firm. This is not a good approach by the traders and raises some red flags on their product.
How M15 Signals works
The signals have the following features:
- The minimum balance requirement to trade is only $400.
- Traders can choose between free and premium plans.
- The signal history is available on the website.
- It guarantees 1500 to 3000 pips each month.
Time frames, currency pairs, deposit
The company claims to provide their trades during Asia, London, and New York sessions and claims to bag in 1500 pips each month. The recommended deposit is $400, while traders can also choose to start from $100. The executions are carried out on all 29 currency pairs.
There is no significant information available on the trading methodology. The developers claim that they trade on the M15 chart and use the day trading approach to trade on 29 currency pairs. They provide executions in London, Asia, and New York sessions with 2 to 8 positions each day. The trades do not have to be closed manually by a trader. They are only closed when they reach a stop loss set by the algorithm.
Unfortunately, there are no trading records on Myfxbook that we can use to analyze the trading history of the service.
Pricing and refund
The signals are available for a single month at an asking price of $60. Traders can also choose to subscribe for 3 and 6 months at $120 and $190. There is no money-back guarantee with the service.
The developers provide no backtesting records for their trades. They could have used forex simulators to test out their strategy and share the outcome with us. Lack of proper performance statistics shows their inexperience in the market.
The company only tracks its records on the website manually. There are no records on Myfxbook, as mentioned before. This lack of transparency is a key practice of many scammers in the markets who look to rob new investors with their Ponzi schemes.
People say M15 Signals is…
A scam. Based on 28 customer reviews on Forex Peace Army, the company has a rating of 2.095. A trader says that the company is scamming customers through their investment scheme. They are asking for money again and again, and you will lose all your financial capital.
Another trader says that the company is a scam, and there is no difference between the paid and free signals services. When he escalated for a refund, the providers kicked him out of the group.
|Multiple subscription options||No transparency on the developer|
|No backtesting results|
|No information on the strategy|
M15 Signals Conclusion
M15 Signals takes its place amongst other fraudulent services that claim to offer a high win rate but fail to deliver on the promise. The company is not transparent on their live records and fails to convince us of their portfolio. Traders are advised to stay away from the service if they value their capital.