Forex Robot ReviewsPassive Income

ForexSignals.com Review: Is It Wise to Hand Your Trading Over to This Signal?

2 Mins read
3.6

ForexSignals.com is a company that not only provides signals services, but also a platform for traders to learn more about Forex trading and share their experiences in the market. We have assessed the services offered and established that they are only useful for learning purposes. Real customers say that the signals are unprofitable and dangerous. 

ForexSignals.com company profile

ForexSignals.com is a company owned by a person called Nick McDonald. He launched the site back in 2012. The company boasts of having 52 employees plus three mentors who provide Forex education to subscribers in the trading room. The mentors include Andrew Lockwood, Mark Bennell, and Max Norbury. Together, they are purported to have 55+ years of trading experience.

The highlights of ForexSignals.com

The services offered by the company are listed below:

  • Daily Forex trading signals
  • Free Forex courses and tools
  • Pro trading video academy
  • Market analysis from Forex mentors
  • More than 300 hours of easy to comprehend video lessons
  • Live chat with pro mentors
  • Daily live trading sessions
  • Real-time international news stream
  • Weekly hot-pick analysis
  • Trade sentiment analysis
  • Trade discussion with other fellow members.

The mentors use three different strategies to identify trading signals that they supply to you:

Naked trading strategy 

This method assesses the market through price action and key support and resistance levels. 

FX propulsion strategy

This is a form of intra-day trading that applies powerful technical indicators to predict market movements.

Trend surfing

The approach focuses on identifying trading opportunities on the charts. 

Facts & figures

We are disappointed by the vendor’s failure to present us with the backtesting results of the signal program. The team floods the website with info about the services offered, but leaves out one of the most important parts — the signals’ historical performance. This is very telling. Probably they have not tested the aforementioned trading methods on a simulator program.

ForexSignals.com does not share any proven track record of the performance of signals either. Surely, any professional who claims to have been in this market for decades knows the importance of sharing their trading results with the public it is trying to convince to invest with them. So, their failure to do so only raises suspicion about the efficiency of their services. 

ForexSignals.com packages

Traders interested in this vendor’s services have 3 options to choose from. We have the first plan (the Apprentice) that bills traders $97 every month. There’s also the Committed pack that requires a payment of $297 every 6 months. The last package (the Professional) will cost you $564 yearly. The Professional includes additional features such as a direct line to mentors, Trend Surfing EA, and a license key to Forex tester 5 that aren’t available to the Apprentice and the Committed plan subscribers. 

ForexSignals.com pricing details
ForexSignals.com pricing details

The company also has a free trial offer that lasts for 7 days.  

Assistance

The company’s customer service team is available 24/7 to assist you. So, all you have to do is email them at [email protected] Alternatively, you can contact the company through its social media handles on Facebook, Youtube, or Instagram. 

Other notes

Customers are pretty much happy with ForexSignals if the 4.454 rating they have given the company on FPA is anything to go by. However, the satisfied clients do not tell us whether the signals are lucrative or not. This information is provided by the few disgruntled subscribers. There are claims that the mentors have a history of providing inefficient signals that have blown up the accounts of their clients. 

Negative customer review
Negative customer review
Negative customer feedback
Negative customer feedback

Is ForexSignals.com a profitable bet in 2021?

No, it is not. We came to this conclusion because:

  • There are concerns that the mentors are amateurs.
  • The signals are not profitable and can crash accounts.
  • The company does not publish the live trading results of its signals.

Therefore, subscribing to this company’s services is risky because chances are that you will not get any return on investment. 

ForexSignals.com Summary

3.6
ForexSignals.com is a good platform for learning the basics about trading the Forex market. However, if you are more interested in making real money, then you have to look elsewhere. Feedback from one of the customers has shown us that the mentors may not be as qualified as claimed. So, trading with their signals can be dangerous as you will suffer losses and possibly end up with a crashed account.
1.0

Performance statistics

4.0

Reviews from customers

6.0

Ease of use

3.0

Implemented strategies

4.0

Pricing

Pros

  • +A free trial period
  • +Free Forex courses

Cons

  • -No proven track record
  • -Backtest results are missing
  • -Lack of detailed strategy explanation
  • -Unprofitable signals
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