Profit Forex Signal provides automated signals on the MT4 Platform and also comes with manual service. The creator states that the buyer should just give the MT4 login details and make the down payment, and the rest will be taken care of automatically. The signal is designed with high mathematical precision and verified performance. We will analyze the system features and highlight all pros and cons to see if it is reliable for trading.
Vendor transparency
After searching on the website, we found that the program is developed by a team of 5, including Nino, the Ceo, Anna leading trader, Chris Doe manager, Julie’s support, and lastly, Robert trader. Other than the names and designation, no information is present, which is insufficient to judge the company’s credibility and reliability. It leads to serious concerns about the reputation and purchase decision at the buyer’s end.
How Profit Forex Signals works
The signal comes with the following main features:
- The system is automated as well as manual depending on the liking of the trader.
- It has 24/7 rapid support provided with all languages across the globe via skype.
- The program comes with multiple subscription bundles.
- Guaranteed service of 9000 pips per month.
To follow the manual signals, traders have to provide their email id or enter one of their premium groups. After the trades are received, they can begin copying them.
Timeframe, currency pairs, and deposit
The recommended minimum trading account balance is $250. The currency pairs used are EUR/USD, USD/JPY, EUR/JPY, USD/CHF, GBP/USD, AUD/USD, USD/CAD, NZD/USD, EUR/AUD, AUD/JPY, GBP/CHF, GBP/JPY, CAD/JPY, AUD/CAD, EUR/GBP, EUR/CHF, NZD/JPY, and CHF/JPY.
Trading approach
The developer states that they trade on multiple currency pairs. They do not offer more information on the game plan, so we head over to the live records on Myfxbook. We observe the use of averaging strategy as multiple trades are closed on the same instance. The average trade duration of 16 hours and 4 minutes refers to a day trading approach.
Pricing and refund
The customer can purchase the service for as low as $49 to up to $499 per month; the major difference is the average pips per month or investment return the company promises with each bundle. Additionally, the company offers multiple payment methods such as Western Union, Skrill, PayPal, Bank Wire, and more. There is no money-back guarantee.
Trading results
There are no backtesting records available on the website leading to the substandard approach utilized by the author. Without any historical performance, we cannot know what kind of drawdown or profitability it had.
On the other hand, there are live records on the Myfxbook website of the platform’s performance from January 24, 2022, to the present day. The graph below shows that the system generated a monthly gain of 23.06% with a drawdown of 41.65%, leading to a higher percentage of drawdowns than gains.
The winning rate stood at 91%, with a profit margin of 3.50. The best trade examined was $19.95 whereas, on the other hand, worst was – $61.08 with total deposits of $1000 with 0 withdrawals and interest at -4.09.
People say that Profit Forex Signals is…
A scam. Profit Forex Signals have 154 customer reviews present on Forex Peace Army, with a rating of 1.381. As seen in the below review, the customer states that he hired the service with the right to cancel within 7 days. He lost his money in trading and called out the company for not refunding and answering his emails.
Verdict
Pros
- Proper live records are available
Cons
- No backtesting records provided
- There is no vendor transparency
- Poor customer views
Profit Forex Signals Conclusion
Profit Forex Signal provides no backtesting records and has no vendor transparency. In addition to that, as seen in live records, the drawdowns are higher than the profits of the signal. The customer reviews on Forex Peace Army are also poor.
