Signal Factory offers FX trading advice connecting expert FX traders with retail traders. This signal service provides trade alerts directly to the trading platform of the user. As per the vendor, the team experts trade on live accounts using their money hence you can expect a low-risk and the best results. The community members of this service account for more than 45,000, as per the vendor.
The vendor does not reveal much info on the company and the developer/professional experts’ team. There is no info on the founding year, location, the expertise of analysts, phone number, etc. For support, the vendor provides links to the Telegram channel, Facebook, and Twitter pages of the company. The lack of info on the company and the support raises suspicion on the reliability of the service.
Further, the website does not provide info on the signals and other services that the company provides. The other products besides the signals that the company offers include a trade copier, a gold trade copier, and the Telegram news package.
As main features, the vendor provides the following:
- The effective alerts of the company make it easy to get the best results due to the tough conditions the team uses for generating the signals.
- You can use your existing account for the alerts without having to open a fresh account.
- There are no hidden costs present unlike other services that force you to use a specific broker.
- This is an independent service that will keep the spreads intact without the worry about expensive expansion.
|Currency Pairs||Multiple currency pairs|
|Recommended Min. Deposit||N/A|
To use the service, you need to pay $99.99 per month. There is no further info available on the features available with the package. We could not find a money-back guarantee which raises suspicion on the reliability of the package. An Algobot trade copier, gold trade copier, and a Telegram news package are the pricing packages for the other products of the company. While the Telegram News package costs $49.99 per month, the other two packages cost $199.99 per month each.
As per the vendor, the experts’ team does not use the Martingale method or other similar methods that are considered dangerous. Instead of measuring a provider’s performance using the percentage or profit, the net pips change is calculated for assessing the performance.
The vendor claims that only profitable accounts are displayed on the official site. Once an account loses its initial balance, the signals of the account provider are not offered until it turns profitable. There is no further info on the strategy.
Furthermore, the vendor does not offer details regarding the recommended deposit, currency pairs, timeframe, etc. The lack of info raises a red flag for this service.
No backtesting results are present for the service. A real USD account verified by the FXBlue site is present for the Algobot signal package. Here is a screenshot of the trading stats.
From the above stats, we can see that the account is showing a total loss of 16.4%. The monthly and weekly losses are 6.4% and 1.6% respectively. The peak drawdown is 8.3%. Profitability of 68.6% is present and the profit factor is 0.39. The trading history is 35 days which is very short to analyze the performance. From the available data, we can see the strategy is not effective resulting in poor performance.
We found 3 reviews for this company on the FPA site with a rating of 2.081/5. Here are a few of the recent testimonials:
From the above feedback, we can see that the users think the company is a huge scam as the trades are not profitable. The reviews indicate that users have lost their capital due to inaccurate signals.