FX Leaders maintains their name as one of the leading services as signal providers. They provide trades over various currency pairs, crypto assets, and indices with a proper stop loss and take profit. You can choose to follow their free service or pay for a subscription that gives access to all executions.
Product Offering
FX Leaders has a comprehensive website that gives insight on various financial aspects and tools, including an economic calendar, economic blogs, news, currency converter, charts, live quotes, and signals. You can also build up your custom watch list to track your instruments.
Vendor Transparency
The signal providers try to maintain transparency by listing all of their trades on the website. They have listed the performance analysis of their signals on specific instruments over certain criteria but fail to mention the most important one, i.e., monthly outcome. According to the website, the lead analyst for the system is Skerdian Meta, a professional Forex trader. He claims to have a master’s degree in finance and investment.
| FX Leaders | |
| Automated | No |
| Email alerts | Yes |
| Diversity | Yes |
| Paid | Yes |
| Easy to follow | Yes |
Price
The signal service is relatively cheap, at only $9.80 a month for the yearly plan. However, if you choose to opt for a single month, the package costs $39. You can choose to pay via PayPal and credit/debit card. The signals are free if you open an account and trade through a broker of your choice. Unfortunately, there is no money-back guarantee for any package provided.
Trading Strategy
Premium account holders can open twice as many trades as free users and are able to get sound and email alerts. The website doesn’t state the type of strategy they use. However, we can deduce some facts from their blogs and signal type. Providers use technical and fundamental analysis for placing their trades. They adopt a day and swing trading approach to their trading. The positions kept open for a long duration have a vast difference with stop loss and take profits as it involves analysis of higher time frames.
FX Leaders use different currency pairs, indices, and cryptocurrencies for their trading. You can use your own trading experience to close out trades and extend your take profits or stop losses. The suggestion of using your own intervention doesn’t sound good, especially after using the paid service. There is also no mention of the minimum required balance or leverage that a trader should use. The signal service expects that a trader has a basic knowledge of trading before choosing to follow.
Trading Results
There are no previous or live trading results on noted platforms such as Myfxbook, which is poor for a noted service. As a result, you can not determine the amount of drawdown or the percentage gain possible while using FX Leaders. The company does have a profit/loss report on its website, which is only available to premium members. However, we can not conclude anything from it as it is pretty easy to manipulate these results.
Customer Reviews
User reviews on Trust Pilot and Forex Peace Army are relatively poor for a service that promises good results. On FPA, the service has been highlighted for buying multiple positive reviews for the year 2018-2019. Customers constantly complain about poor customer service, non-adherence to their own terms and conditions, and poor profitability. For a total of 24 reviews, the FX leaders have a rating of 2.766. The scenario is slightly better on FX Leaders, with an average ranking of 3.3 for 28 reviews.
