FxProfitSignals is a Forex signals provider service offering free as well as paid trading recommendations. According to the vendor, this system can assist you in your trading plan and help you achieve superior outcomes in Forex.
We have very little information on the parent company behind this signals provider service. According to the information available on the official website, the team consists of traders with more than 10 years of experience in the financial markets. Now, we don’t have any background information on these individuals and we don’t know when the company was founded. Also, it is not clear whether this team has built similar systems in the past.
The team of professionals employed by the company explores the market conditions daily and makes an overview of the results combining fundamental and technical analyses. Once they find trading opportunities, they instantly submit the same to the customers. The minimum starting balance for your account depends on the broker’s conditions. Some of them allow you to get started with only $50-$100. The vendor recommends starting with $10,000 for a standard account and $1000 for a mini account.
There are two types of signals generated by this system, namely market execution and pending orders. The signals come with proper entry and exit points. You can also see the profit targets and the stop-loss levels.
By signing up with the partner broker of FxProfitSignals, you get a welcome bonus worth $30. Other incentives include maximum leverage of 1:888, low spreads, swift withdrawals, and up to 50% deposit bonus.
Trading strategies and currency pairs
The vendor has not properly explained the trading strategies the signals are based on. They have merely mentioned a few strategies like counter-trend, trend reversal, and trend following. As such, we don’t have any in-depth information on the trading logic and it is possible to determine what kind of traders these signals are suitable for. From the closed signals shared on the website, we can see that the supported pairs include EUR/USD, AUD/USD, USD/CAD, GBP/CHF, EUR/CAD, NZD/JPY, EUR/CHF, CAD/JPY, and others.
Backtests are important for automated trading systems as they reflect their long-term performance. Developers carry out these tests with historical data worth several years. Since this is not an expert advisor, there are no backtesting results to analyze.
FxProfitSignals trading statistics
The vendor has not shared any links to verified trading accounts on third-party websites like Myfxbook, FXBlue, and FXStat. Without verified trading results, we cannot analyze some of the most vital performance parameters like drawdown, profit factor, monthly and daily gains, etc.
On the official website, we have the trading result presented in tabular format. Here, we can see the pair, the type of trade, take profit/stop-loss, and the profit/loss. For the month of December, 64% of the signals were profitable.
Pricing and refund
There are three plan categories for this service, namely Free, VIP, and Premium. The paid signals deliver better results and users can get detailed analysis results daily. Premium and VIP members also receive data for adjusting the direction of each signal.
There are 1-month, 3-months, 6-months, and 12-months VIP plans that cost 45 Euros, 75 Euros, 96 Euros, and 132 Euros, respectively. The corresponding Premium plans cost 69 Euros, 126 Euros, 174 Euros, and 216 Euros, respectively. There is no refund policy that protects your investment.
What else you should know about FxProfitSignals
This company has social media handles on Facebook, YouTube, Instagram, Twitter, and Pinterest. On the official website, there is a live chat feature that you can use to get quick assistance. If the issue is not that urgent, you can write to the support team using the contact form on the website.
There are a few reviews for this signal provider on the FPA website. One user has complained that the admin tricks users into spending more money than what’s required. Another customer has claimed that the team sends wrong signals on the group and this leads to several users leaving the signals channels.