M15 Signals provides short-term trades and live telegram alerts for their signals. They claim to have a 90% accuracy on all their executions. The company also states that they bag in 15000 to 3000 pips a month, which is quite abnormal. The statements made by the providers indulged us in taking a look at the service and seeing if it is profitable or not.
Detailed signals service provider review
The signals are provided through the Telegram channel. The providers give out the links to their Telegram account and ask traders to join the free trades. There is also a premium subscription that comes at a hefty price. All the information about the service is available on the website on a single page.
The company states that they are situated in Singapore, where they conduct all financial transactions. They are not transparent in providing their own portfolios from where we can get to know their background and trading experience. This type of approach is a common practice for scammers in the financial markets.
The service has the following set of features:
- They have multiple subscription packages available.
- Trades are performed for multiple currency pairs and gold.
- Live signals are available through Telegram.
- Signals have a 90% accuracy.
- There are two to eight signals each day.
How does it work?
The signals work by following the steps mentioned below:
- Traders will have to purchase the package available on the website.
- Afterward, the provider of the service will send over the invite to the Telegram premium channel.
- Traders can join the channel and follow trades manually as they are sent.
M15 Signals strategy tests
The providers only state that they trade on 28 currency pairs and gold. They mention adopting an intraday trading strategy with 2 to 8 signals sent on the channel each day. Most of the trades are available from 08:00 till 19:00 GMT. There are no pending orders. All the executions are done at market price. The minimum recommended requirement to use the service is $100. Each trade is available with three take profits. There is no stop loss attached.
There are no backtesting records as this is a signal service. The developer, however, could have performed his trades on a forex simulator and shared a detailed statement with us. Lack of available results is not a good activity.
The developers do not share their live results through a verified performance tracking website such as Myfxbook. They manually track their output on the website, which we can not trust as it is quite easy to manipulate the production of the signals. It seems that they want traders to blindly follow their executions without having a look at genuine records. They also provide a free Telegram channel to monitor their output, but we can not believe that as the providers do all the recording.
Access to the premium channel will cost $60 a month. Traders can also take subscriptions for an extended duration, such as 3 or 6 months at $120 and $190, respectively.
There are 28 reviews present at Forex Peace Army which gives them a rating of 2.095 for a total of 28 reviews. The rating is quite poor and shows the general view of traders towards the signals. A trader says that the service is a scam and there is no difference between the paid and free channels.
The M15 Signals company has a poor rating on a noted review website. Traders are not pleased with their output and declare them as a scam. It is not advised to join them.