We’d like to talk about an Elite FX Signals company.
The main page tells us that it’s the #1 Choice of professionals, and it changes our trading forever.
The firm also provides other services like education, selling EA, mentorship. The presentation seems not quite professional as for a company that provides many services. The promo says to us that we’ll be able to automatically copy-trade deals from the master account that’s under the team’s management.
As soon as we stay for too long, we’re offered to exchange our email for their spam. If you want it, use a temporary email for this.
Detailed Forex Robot Review
We’ve grouped up information about the copy-trading service:
- The team has over 25 years of trading experience.
- The signals are generated for 28 cross pairs.
- We can trade signals with low drawdowns.
- The software lets us copy-trade orders automatically from the master account.
- The copy-trading doesn’t require any previous experience.
- We have to connect our account to the master account.
- An average trade frequency is up to four trades daily.
- We can expect to get from 4% to 40% of the monthly profits. We’re not sure that getting 40% will keep our account safe.
- The final one-time-payment pricing is out of place.
- The system can generate signals that become several days or even weeks trades.
- The developers mentioned that win-rate is up to 86%.
Elite FX Signals Strategy Tests
Elite FX Signals doesn’t provide any kind of backtest reports. There are two reasons. First, there’s no auto trading, just manual trades. If so, it’s okay. Second, there are auto traded deals, but the developers don’t want to disclose details like symbols, strategy, hours of trading activity, and so on. Both cases don’t increase our trust level in this service.
Real Account Trading Results
The company doesn’t reveal its account where the signals are generated from. There’s an unclickable chart. We have to trust blindly in those gained pips. As we can see, the developers got tired and stopped updating trading “history” in September 2020. Now, it’s 2021. So, we can’t be sure if their service is still alive.
Their Telegram channel has many screenshots like these. We can’t be sure that they’re not photoshopped and they are viable for us. Usually, there are some free signals for everyone to check, but not on this channel.
The copy-trading offer costs $999. It’s an insane price for this type of service. Keeping trades over the weekend means there should be sky-high Stop Loss levels. Anyway, many other signal services provide one-month or several-month packages for people to check after they try free signals. Paying $999 at once is an iconic scam. If you check how much signals cost in MT4, you’ll find that pricing is around $30-$50 monthly, not higher.
The presentation is featured by two stories of the developers. It’s a common scam move to tell how it was and don’t share their social network profiles. Who are those guys? Are they people from StockPhoto?
The company is serving over 5453 happy clients. We can’t check this too.
There are only positive testimonials on the site with five-star rates.
The company has a page on Forex Peace Army with 48 reviews and a 3.77 rate based on them.
Many clients ran their software and noticed that it was a scam.
The system generates more losses and profits.
The Telegram channel has 76k members, but an average post is viewed only by 8-9k members, not more.
Elite FX Signals looks like a scam service that doesn’t have: strategy, backtests, trading results, traded results, and so on.
The cherry on the top is the fact that there is insane pricing and an endless wall of negative testimonials from clients.