The developers of Profit Forex Signals boast excellent reviews on Trustpilot and claim that their signals service is ‘the best signals provider since 2010 till today’. They promise to provide ‘best, most profitable, and reliable’ Forex signals. Traders are guaranteed 300% ROI, 90% accuracy, and over 9000 pips per month. In this Profit Forex Signals review, we will analyze the trading results, applied strategies, pricing, vendor transparency, and efficacy of the signals to determine whether the numbers we see on their website are realistic or simply falsified to attract more traders.
Detailed Signals Service Review
Their website was created 8 years ago, on December 30, 2012. We are impressed that the website is still to be live and regularly updated (the last update was on December 31, 2020). It is one of the best and the most professionally organized presentations we’ve ever seen. Everything looks good and accurate. It seems that the dev does want to be taken seriously and struggles for good glory among Forex traders and developers.
The Profit Forex Signals team is a group of experts who have over 10 years of experience in the industry. They cooperate with multifunctional companies, banks, small and large institutions, money managers, and brokers. On their ‘About Us’ page, they represent their main team members: Nino (CEO), Anna (Main Trader), Chris Doe (Manager), Julie (Support), and Robert (Trader).
Their website is owned and operated by M&A PRO CONSULTING LLC. Their headquarter location is Trade Business Center, New York United States. Traders can get in touch with support via email [email protected] or call (347) 329-4354 (US), +44-20-3239-9193 (UK), +61-2-8005-7875 (AU).
Additionally, they provide social media contacts. So, traders can also get in touch with them via Facebook, Twitter, Instagram, LinkedIn, or YouTube channel.
There are 6 aspects the Profit Forex Signals team wants us to be aware of. They are:
- Affordable prices
- Verified trading results
- Trustworthy customer reviews
- Relaxed trading
- Full-time customer support
Although the website looks good and professionally organized, its aggressive claims do not increase trust, as they are hard to believe and look unrealistic. The dev promises 1000 pips, 90% accuracy up to 300% profit per month, and the other promotions that seem to be too good to be true. How can it be achieved? None of the top hedge funds and PhD money managers can obtain this accuracy, but the team that stands for this signals service says it can and offers this holy grail for only $49 per month.
M&A PRO CONSULTING Company tells us that their signals are easy to use.
They tell us that their signals are directly sent via email or a trade copier. All signals are pending orders thus traders have up to 1 hour to enter in trade. Signals come with SL, TP, and clear Entry.
Profit Forex Signals Strategy Tests
The devs failed to provide trading strategy details or backtesting results to prove the efficacy of their signals provider. They only provide a screenshot of their past years’ results:
We cannot rely on these numbers, as they can easily be manipulated or falsified. Without verified backtesting results, we cannot analyze past Profit Forex Signals efficacy.
Demo Account Trading Results
It is good that the vendor provides multiple trading accounts placed on myfxbook.com.
We have analyzed each of these trading accounts and concluded that none of them meets the aggressive promises and guarantees being made by the vendor.
The maximum monthly gain achieved was on a pearl account – 40,61%. This pearl account costs extremely expensive – $499/month and promises 9000 pips on average and up to 300% investment return. This account was created in September 2020 and since that time, it has traded 1069 pips. Considering that the account has been running for 5 months, it should be up to +45000 pips, not 1069. Its average win in pips (12.52 pips) is twice lower than the average loss (-29.10 pips). Its profit factor is low and equals 1, 26.
Although 2021 has just started, we see unsatisfactory trading results:
Monthly gain has been slowly but consistently falling since October 2020.
Now, we see that the monthly gain chart shows a huge loss that equals -34,9%:
The vendor offers four packages. Their price ranges from $49-$499/month. Each package includes SMS, WhatsApp, Telegram, and email notifications. The package differs when it comes to price, the average amount of pips provided, investment return, and signals frequency. A Money-back guarantee is not provided.
We’ve Googled for customers’ reviews to see and analyze how this signals service works on traders’ accounts. As a result, we’ve found 134 customer testimonials on Forex Peace Army.
The service has a 1, 5 out of 5-star rating based on 134 customer reviews. Many of these reviews claim that Profit Forex Signals service is a scam and warn other traders not to invest in it:
Negative client feedback is not a good sign at all. If the software were as profitable as advertised, we’d see thousands of positive reviews on FPA. Customers’ trading experience is not in line with aggressive claims of successful trading guarantees promised by the company.
Although we are impressed with the professionally organized website, the Profit Forex Signals team just makes too many aggressive claims and promises that are unable to fulfill.
Moreover, instead of providing successful trading results, the system has shown a huge loss of profit in January 2021.
The service looks like a scam, trying to attract new clients by their aggressive promises and well-built website presentation.