Forex Robot ReviewsPassive Income

M15 Signals Review: Can You Trust It to Do Your Trading?

2 Mins read
3.4

M15 Signals prides itself in its wide customer base, which is alleged to consist of over 100,000 traders. Essentially, the vendor provides them with signals to trade currencies and gold. We are made to believe that the signals have a 90% accuracy rate and hence are very profitable. Let’s take a closer look at the firm’s offering and ascertain if you should trust it. 

M15 Signals company profile

M15 Signals is a private limited company that is based in Singapore. As the name suggests, the service provider mainly offers trading signals for Forex traders. It started providing this service at the end of 2018. Unfortunately, this vendor doesn’t have a good reputation in the market. Many have accused it of being a scam. 

The highlights of M15 Signals

The services available are featured by the following:

  • Two to eight signals daily for premium subscribers
  • Telegram live alerts
  • Three take profits per signal
  • Signals for currencies and gold
  • Signals time: Asia, London & USA
  • Risk management advice

The strategy used by the devs is not disclosed. It could be the team is not using any specific approach and is just picking signals indiscriminately. This may cause traders relying on the service to suffer unnecessary losses. 

Facts & figures

There are no backtest reports. This comes as a huge disappointment. Backtesting offers important statistical feedback regarding a strategy. Examples of these stats include yearly returns, volatility metrics, win/loss ratios, profit/loss, etc. Therefore, we can’t tell if the devs are using a methodology that has been proven to work or not.  

M15 Signals website has a page, which highlights the signals performance in the live market. Sad to say, these results cannot be considered to be authentic. We just have a table with random numbers and a claim that the signals have not led to any losses yet since 2018. If the devs were serious, then they should have opened an account on Myfxbook and used it to trade their signals to prove their 90% win rate story. 

Live trading results
Live trading results

M15 Signals packages

M15 Signals is available in three different packages that offer similar features. The main difference is the period the services last. For $60, $120, or $190, you will be supplied with the signals for 1, 3, or 6 months respectively. There is also a free option for traders who would want to test the efficiency of the signals first. 

M15 Signals pricing packages
M15 Signals pricing packages

Assistance

The team has set aside a “contact us” page that features a form, which you can use to fill in your details and questions. Ironically, the company’s email address is not indicated. There’s a live chat window that also asks you for similar info as the contact form. We are afraid that these processes slow down client service. Since a live call center is unavailable, you may not get an instant response in an urgent situation.

Other notes

It seems that M15 Signals has convinced many traders to subscribe to their services if the number of customer reviews on FPA and Trustpilot is anything to go by. We are shocked. Anyway, the traders had to learn the hard way-by losing some real money. We have taken a sample of the feedback from Trustpilot to help you understand what the customers are saying about this service provider. The clients below are stating that the signals are bad and are generated randomly. Consequently, they can wipe out your account. 

Customer acknowledging that the signals are bad
Customer acknowledging that the signals are bad
Client cautioning traders not to trust M15 Signals
Client cautioning traders not to trust M15 Signals

Is M15 Signals a profitable bet in 2021?

No, it is not. Here’s why we believe the company cannot profit you:

  • The signals’ track record is unverified
  • No specific strategy is applied
  • The signals are ineffective

The above issues make M15 Signals a risky venture because the signals offered could generate undesirable results in your account and eventually blow it up. 

M15 Signals Summary

3.4
Our thorough analysis of M15 Signals has led us to conclude that this is not a service that you need. The company has been criticized for supplying poor quality signals that do not win trades. Furthermore, not mentioning the strategy on board is a sign that we are dealing with incompetent people. They may be supplying fake signals to clients. So, they can’t be trusted.
2.0

Performance statistics

2.0

Reviews from customers

6.0

Ease of use

3.0

Implemented strategies

4.0

Pricing

Pros

  • +Free signals are available
  • +Telegram alerts are also offered

Cons

  • -Poor quality signals
  • -Lack of verified trading results
  • -No mention of the strategy used
  • -Negative reviews from customers
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