Like many other vendors in Forex, Price Action Forex Ltd (PAFX) presents itself as a lucrative service provider. According to the devs, their signals are accurate 90% of the time, and this allows traders to have very little drawdown and optimal profits. Nevertheless, we are convinced that these are just lies. The team fails to provide tangible proof to verify these claims, which is a classical sign of a scam.
The team behind Price Action Forex Ltd doesn’t tell us much about the company such as, when it was founded, its history, the employees it works with, and their professional backgrounds.
The following form the basis of the company’s services:
- The recommended brokers include TickMill, Hot Forex, FXTM, XM, Vantage FX, BDSWISS, IC Market, FXChoice, Hugosway, OctaFX, and USGFX.
- Focuses on the New York and London sessions.
- Provides 5-8 signals in real time through Telegram.
- Its Algo bot trades on the MT4 platform and requires a minimum balance of $500, a leverage of 1:500, and a low spread account.
- Provides Telegram live alerts that include key details; stop loss, entry price and take profit.
- Offers 24/7 customer support.
Trading strategies and currency pairs
PAFX provides several instruments on its PAICC VIP channel; US30/DOW JONES/DJ30, US500, BTCUSD, ETHUSD, and stocks, among others. It also pays attention to EURJPY, EURUSD, GBPUSD, GBPJPY, and USDJPY currency pairs.
The vendor does not provide any useful information that could help us figure out what methodology they use to identify lucrative signals that they say they send to their clients.
Backtest results are not displayed. Backtesting is an essential practice in Forex. It assesses how the trading style at play performs. Just as importantly, by backtesting, a vendor like PAFX can become confident about the strategy it is using. In this case, we doubt if any testing was done.
Price Action Forex Ltd trading statistics
The devs have posted various images on the website that supposedly show the performance of their signals. The problem is that the pictures cannot be trusted because they have not been verified. We do not know if they are authentic or fake. Furthermore, they fail to include important parameters such as the lot size, trading frequency, profit factor, win-rates, drawdown rate, etc.
Pricing and refund
The company offers numerous packages for a variety of services offered. For the Forex signals services, we have the novice, intermediate, advanced, and professional packs that cost $40/m (1 month), $22/m (3 months), $18/m (6 months), and $12/m (12 months) respectively. The expert offer is $209 and lasts for a lifetime.
To get signals relating to PriceAction Indices, Commodities & Crypto (PAICC), you will have to part with $75/m (1 month) to get the novice pack, $38/month (3 months) for the intermediate one, $29/m (6 months) for the advanced plan, and $23/m (12 months) for the professional offer. However, you can just buy the expert pack at a one-time price of $297.
If you want to receive scalp signals from this vendor, you will also have to pay something. The pricing packages, in this case, are the cheapest. The novice option is $37 per month. The intermediate plan is priced at $23/m for 3 months. Then we have the advanced, professional, and expert options that cost $16/m (6 months), $12/m (12 months), and $185 (lifetime) respectively.
If you are interested in trading with the company’s robot, then you have a variety of options to choose from. To trade with it for 3 months, you will be expected to pay $20/m. The 6 months plan is $17/m, while the 1 year pack is $14/m. You can decide to purchase the expert plan, which is $229, and you will never have to renew your subscription.
None of the above pricing options comes with a money-back guarantee. On that note, we conclude that the services are not worth the money.
What else you should know about Price Action Forex Ltd
Price Action Forex Ltd has received mixed reviews on FPA, but most of them are negative. The team is accused of using a dangerous strategy (martingale) and providing unprofitable signals that can easily blow up your account. For these reasons, the devs are labeled scammers and defrauders.