FXTrends is another signal service that provides “The Best Forex Signals” ever. The vendor insists that this is the #1 Forex Signal Provider. FXTrends is “the best choice for all traders.” Let’s figure out if FXTrends is a viable signal service in our review.
Product Offering
The company is registered as Fair Trading Ltd (09181896) in England & Wales. The firm has a medium level of transparency because we can not only be sure that this is a real company but also check trading results from 3rd party-verified account.
- The company has over 10-year experience.
- They have provided over 100k pips.
- We can copy-trade deals from the main account using copy-trading software.
- Copy-trading works automatically on our account.
- We can expect from 1000 to 2000 pips monthly.
- The average trade frequency is 4-7 trades daily.
- For copy-trading, the trade frequency is from 8 to 19 deals daily.
- There are complete trading courses.
- The win-rate is 90%. It’s a lie. The win-rate is 74%-76%.
- Access to chart analysis channel.
- Access to indices signals channel.
- The system is easy to use.
- There’s 24/7 English and Spanish support.
- The vendor provided screenshots of how to customize copy-trading software.
- We can set our own risk free from the master account.
- We can start trading with as little deposit as the broker can allow us to work with.
- The main platform to run the software is MT4 or MT5.
- Copy-trading supports ECN accounts.
- The risk should be set at 1% to the account balance.
- The signals have the next format: time, currency pair, direction, Entry Price, SL, TP1, or even TP2.
There are different pages with the offer and different prices. Copy-trading costs $29.99 or $150. Is it a scam? Most likely, yes, if the prices vary that much. Forex Signals cost $19.99 (monthly, right? It’s unclear). It’s one of the cheapest offers we’ve ever seen, even if it’s a monthly subscription.
Trading Strategy
The developers didn’t disclose details of a trading strategy or strategies. It’s a huge disadvantage that doesn’t increase trust between us. According to trading results and the name of signals, there’s a trend trading robot behind the system. There are no backtest reports as well.
Trading Results
It’s a “fxtrends net copy trade” real USD account. The vendor insists that this is a manual trading account. We have huge doubts about this. The robot runs on the MT5, trading with 1:400 leverage. The account runs with a verified track record. It was created not so far ago – on June 30, 2020, and funded at $685.17, and withdrawn at $45.86. It’s tracked by a huge number of traders – 199. The absolute gain has become +597.24%. An average monthly gain is +38.14%. The maximum drawdown is twice fewer – 19.76%.
FXTrends closed 711 deals with 21520 pips of the profits. An average win is 73.09 pips when an average loss is -102.91 pips. There were 63.38 Lots traded. The win-rate is 74% for Longs and 76% for Shorts. The average trade length is over a day. The Profit Factor is high – 2.92.
It trades all available on the MT5 symbols. The most-traded and the most profitable is EUR/JPY with 137 trades and $830.
The robot focuses on trading during the European trading hours.
Friday is the less traded day – 99 deals.
The robot trades with little risk to the account balance. For losing 10%, it has to lose 39 deals in a row.
It doesn’t use Martingale to increase profitability.
It closed all months with solid profits.
Customer Reviews
There’s a page on Forex Peace Army with two reviews.
One testimonial was positive when the other one negative. It’s such little feedback as for the service like this.
