Expert AdvisorsForex

Profit Forex Signal Review: Things You Need to Know Before Investing

2 Mins read
4.0

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.

Trading history on Myfxbook
Trading history on Myfxbook

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.

Live records of Profit Forex Signals on Myfxbook
Live records of Profit Forex Signals on Myfxbook

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.
Total return23.06%
Maximal drawdown 41.65%
Average monthly gain 23.06%
DeveloperAutomated Forex Tools
Created, year2010
PriceMin $49 to max $499
TypeGrid and Martingale
TimeframeN/A
Lot sizeN/A
LeverageN/A
Min. depositN/A
Recommended depositN/A
Recommended brokersN/A
Currency pairsEURGBP and GBPUSD
ECNN/A

Main things to consider if you invest with Profit Forex Signals

The following factors make the signals unfit to use for retail traders.

Backtesting records

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.

Vendor transparency

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. 

Pricing

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.

Other notes

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.

Customer Review of Profit Forex Signals on Forex Peace Army
Customer Review of Profit Forex Signals on Forex Peace Army

Profit Forex Signal Summary

4.0
Profit Forex Signals does not provide any backtesting records to help the customer analyse the earnings and make a purchase decision. In addition to that, there is no vendor transparency on the teams' experience and whereabouts, leading to concerns regarding reputation and reliability. The reviews on the popular Forex Peace Army website are also bad.
4.0

Functionality

5.0

Reliability

2.0

Strategy

6.0

Price

5.0

Trading Results

2.0

Vendor Transparency

Pros

  • +Proper live records

Cons

  • -No backtesting records
  • -Poor customer reviews
  • -No vendor transparency
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