By 
Signal Factory claims to have over 45000 community members with their program. The company allows traders to choose from multiple packages and go through the live records that are tracked via FXBlue. To see if the service is good for copy trading, we will review it in our article by scrutinizing all the advantages and disadvantages.
Forex Signal Factory Tweets
The company has the following features:
- The portfolio of only profitable traders are available
- Trading records are tracked through FXBlue
- There are no hidden costs with the program
- A growing community of 45000 traders
How it works
The service will work if you follow the steps below:
- Purchase one of the signal packages from the website
- The providers will send you their link for the premium Telegram channel
- Enter the group and follow the trades as they are sent
- Adjust the stop loss and take profit properly
Traders can also choose to follow trades via the copy trading application. The signal providers are not transparent if they use a copier or a PAMM account for the purpose.
Trading strategies and currency pairs
The developer states that they do not use martingale strategies to avoid high risk on the account. They are not clear on the topic, so we head over to FXBlue to observe the printable statement. From there, we can see that there is a lot of multiplication in orders if a loss occurs during a trade. There is no stop loss attached with trades, and they are closed virtually. The losses can be more than 100 pips while the profits are small, around 1-10 pips, giving a poor risk-reward ratio.
Trading history
There are no backtesting records available for the strategy under use by the providers. Without any historical testing, it is impossible to depict how their methodology will work for an extensive future.
Signal Factory trading statistics
Verified trading records are available on Myfxbook. We have a performance from October 10, 2021, till the current date. The system made an average monthly gain of 10.9% for the period, with a drawdown of 21.8%. The stated drawdown is high if we contrast it with the monthly gain, providing a poor risk-reward ratio of 1:2.
The winning rate stood at 82.5%, with a profit factor of 1.06. The best trade was $788.37, while the worst was -$1053.31. There were a total of 1362 trades. The developer trades on a real account with a starting balance of $5017.
Backtesting records
Pricing and refund
Traders can purchase the Telegram news package and algobot trade copier for $49 and $199.99. The signals are present at the cost of $99.99, while Algobot Trade Copier is for $199.9.
The price of the EA
What else should you know about Signal Factory?
The three customers on Forex Peace Army give them a rating of 2.081. A trader says that the company wants you to pay more and more for covering the losses and most of the trades are not profitable.
Customer review on FPA
Another trader says that you should not pay for account management as it is a huge scam. He says that he has lost €20000. Traders should stop following their channel.
Customer review on FPA
Comments