About
Profit Forex Signals is a New York based signal providing service that was founded back in 2010. A team of experienced traders that have many years of trading experience is providing their signals. The platform counts over 35 000 happy users. It is claiming that can bring you up to 10 000 pips monthly with the signals of 90% of accuracy and with the monthly return of investment of up to 300%. Well, it sounds pretty impressive, but is it true?
The service mention that the signals are provided by the team of highly professional traders that have many years of experience in forex trading. They all come to form respectable financial institutions and the service presents them individually. They do not use expert advisors or they did not mention that they have a trading system, everything is based on traders’ decisions, so the trades are probably based on their fundamental views and news. Their signals can be automatically copied to your trading platform. The service is convenient for both beginners and more experienced traders. It also provides webinars about Forex trading specially designed for newcomers to the market.
Pricing
The service is available on a three-month subscription basis in four different packages. Standard 1000 package is available for $49 and it includes an average 1000 pips net profit or averages up to 50% investment return and more than 10 signals per week. Professional 2000 package costs $99 and it offers an average 2000 pips net profit or averages up to 100% investment return with more than 20 signals per week. Ultimate 5000 is available for $249 and it offers an average 5000 pips net profit or averages up to 150% investment return. Pearl 9000 package costs $499 and it promises an average 9000 pips net profit or averages up to 300% investment return. All packages will send you email and SMS alerts. As a subscriber, you will also get a free VPS and copy trader tool. Payments can be processed by bank wire, credit cards, western union, or standard payment processors.
Trading signals and support
So, depending on the package you may expect a different number of signals. The service is providing signals for forex pairs, they trade mostly majors but from time to time you can receive the signal for some exotic pair. It is unknown what kind of strategy has been used for generating those signals.
The company has connected its trading account to the MyFxBook service. After I have analyzed the results I can confirm that they are capable to trade profitably. On the other hand, the results are not that good as the company is claiming on their front page. According to the results, the average monthly pip gain is between 1000 and 3000 pips. The win percentage is between 70% and 80%. Well, it is still a very good result. I have also noticed that the most traded instrument is EURUSD.
The support is available 24/7 and it can be reached via live chat, phone, SMS, Skype, and email. The service has more than 100 reviews on Forex Peace Army and it has a very low average grade of 1.7 stars. It is stated that the company has a long history of dishonesty. A large number of suspicious and fake positive reviews can be found online. There are proofs that awards on their website have been fake. The FPA performance test shows that by following the trade signals you will not trade profitably. So, it is recommended a high level of caution when you deal with this service.
Verdict
So, Profit Forex Signals is a signal providing service that has been in business for ten years. The service is available on a three-month subscription basis in four different packages. The signals are issued for forex pairs, mostly majors. A subscription comes with a VPS service and trade copy tool. They have connected their trading account to the MyFxBook service. Their performance average monthly gain between 1000 and 3000 pips with a win rate between 70% and 80%. The service provides education for Forex newcomers. It has many negative reviews and it has been labeled as a dishonest company. Therefore, I cannot fully recommend you using this service, I think it is worthwhile of trying but it must be dealt with caution.
