Forex Profit Signal comes with multiple subscription packages that start at $49 and goes up to $499 per month. The developer claims to have created it with the highest mathematical precision with 24/7 prompt support available. Additionally, they state to offer at least 300% ROI or 9000 pips per month. To see if the program is effective and credible for trading, we will review the system and highlight its pros and cons.
Profit Forex Signal trading strategy
The company states that their trades are divided into two categories i.e. automated and manual. Their trading styles change based on the weekly strategy or market insight. From the history present on Myfxbook we can clearly see the use of averaging strategies where multiple trades are closed on the same instance. The average trade duration of 17 hours and 4 minutes refers to a day trading approach. The lot size also increases with each trade which points to the use of martingale as well.
Profit Forex Signals backtesting report
After a thorough search on the website, we found no backtesting records, which provides us with no knowledge on its profitability generated and its drawdown leading to serious concerns regarding the company’s profile. Furthermore, it also creates a doubt at the customer’s end as to whether the purchase is worthy or not.
Profit Forex Signals live results
The live records present on the Myfxbook website show us 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. Moreover, 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.
Some features of Profit Forex Signals
Profit Forex Signals has the following features:
- There is 24/7 rapid support.
- It comes with multiple subscription packages.
- Guarantees 300% ROI each month.
- There is no risk of overtrading.
|Average monthly gain||23.06%|
|Developer||Automated Forex Tools|
|Price||Min $49 to max $499|
|Type||Grid and Martingale|
|Currency pairs||EURGBP and GBPUSD|
Main things to consider if you invest with Profit Forex Signals
The following factors make the signals unfit to use for retail traders.
There are no backtesting records available on the website leading to the substandard approach utilised by the author. It creates serious concerns and questions on the product reliability and performance. This makes the purchasing decision doubtful at our end.
The creator has not provided any information about their portfolio or its teams apart from sharing names and designation, which is not enough for a trader to judge the company’s reliability, raising concerns about the reputation.
The developer has offered four different types of monthly subscription packages starting from $49 and going all the way up to $499. The major difference between the membership fee is on the average pips per month. The lower-end deals provide lesser profit in comparison to the higher-end bundles. There is no money-back guarantee available.
Profit Forex Signals have 154 customer reviews with a rating of 1.381 present on Forex Peace Army. As seen in the below review, the customer is not satisfied by the services provided and states that the company doesn’t know how to trade and that he lost money instead of gaining profits as claimed by the developer on the website. Moreover, the buyer also calls out the creator and his team for changing his account password.