08-04-2021 06:15 AM
What is FX Profit Signals?
About Forex Signal Services
A Forex signals are suggestions for entering a trades on a currency pairs or another financial instruments, usually at a specific price and time with specific instructions on where to place your stop loss and Take profit limits. The signals are generated usually by a human analyst or sometimes from automated Forex robot supplied to a subscriber of the Forex signal service.
Advantage of Trading with signals
Signals are useful for those investors, who do not have plenty of time for studying the movements of the currency market, but still wish to participate in the market. The signals are also useful for those who are not actively trading and wish to make use of profit making opportunities. Initiate trades without studying the Market. Increasing profitability and reducing psychological factors like emotions, fear and hope in Forex. You don’t have to go thru hassle of charts and technical. You don’t have to inform yourself for factors that might drive the market up or down. You don’t miss out any opportunity, because you are notified immediately thru service provider median of contact. Signals service providers use multiple charts and read news to stay updated with market to provide you as accurate signals as possible. Signals are very easy to follow, even new traders can follow and take profit from it. Trading the forex currency exchange market can be a scary struggle, which is why, you may want to rely on the services of an experienced companies that can give you the “heads up” with techniques like a Forex signals. If you don’t have idea how to use Forex or from where to begin, then let these companies help.
Choosing a signals service provider
There are many providers with promise to be successful, but it is very hard to find an actual legit signals service provider, since your own stake is at risk. You make sure go thru following guide lines for choosing signals provider. Some signals are daily basis, some are suitable for long term trade, and some are based on news, while some forex signals providers trade with fundamental or technical analysis. So you should be careful with your choice and which one will fulfill your demand. You also should know how the signals will be delivered to you.
FX Profit Signals Review: Free Or Premium Trading Signals?
FX Profit Signals is a forex and binary options signal provider that offers a wide range of free and premium signals. Our FX Profit Signal review will explore the different types of signals that they offer. We will go through their different subscription plans for forex and binary options and see how effective they are.
Fx Profit Signals is one of kind signal provider in the sense that they provide multiple plans such as free, VIP, Platinum, Binary VIP, +30 pips etc. Each of these subscription plans offers different quirks and features and it caters to the needs of all kinds of traders. After reading this review,you can decide which subscription will be perfect for you, and most importantly, if you can trust this signal provider. Along with signal service, they also provide indicators and EA’s which we will cover in this review. We will start our review by discussing about the company first.
FX Profit Signals Review: What Is FX Profit Signals?
As the name suggests, FX Profit Signals is a subscription based signal company that provides signals of all kinds. The company is composed of traders who have more than 10 years of experience in the financial markets. Not much is known about the team members or the owners of this company. Neither could we find any information regarding their company headquarters address. It is not listed on their website nor provided in their social media outlets. They are registered under Pro Forex LTD and after a bit of digging, we found the company address located in 39 Melmore Gardens, Cirencester, Gloucstershire, United Kingdom filed by Darren Adaway. Including this information under their website will increase transparency and user trust. Speaking of their accomplishments, FX Profit Signals boasts 13 years of experience in the market. What’s interesting is that they have a 100% profitable track record in terms of months. Other accomplishments include 1183 trades per year and 23834 pips profit over 1 year. They also have a client testimonial section which features only 4 testimonials. The identity of the testimonial provider is unknown as their name or designation is unknown.
Why Should You Choose FX Profit Signals?
FX Profit Signals is a different and unique signal provider. They offer standalone features that separate them from other signal providers.
Here are the key features of FX Profit Signals:
- FREE Forex signals
- Signals contain extra details
- 5 different types of account
- Each account offers variable subscription plan
- Get Signals through email and telegram
- EA and Indicator service
- Enriched education center
- Exclusive commodity signals for platinum users
- 1-2 free signals daily
- 24×7 email support
- Dedicated Signal instructions
- Transparency in signal result
- Cash-back offer
- Super short term signals
- Login & Registration Process
In this section, we will go through the registration and login process for FX Profit Signals. The process is quite simple and takes only a few minutes to complete. Here’s how to register for an account:
Click on the ‘Registration’ button below to start your registration process. You will be redirected to the VIP landing page. Here, you can choose your preferred plan from the provided options. If you choose for free signals, you would need to select your payment method. This seems strange as the user doesn’t need to pay anything to avail the free signal service.
Click on ‘Sign Up’ next. You will now be redirected to the Sign Up page.
This includes username, email, first name, last name, password, avatar, and country. Enter all the required entries and agree with the terms and conditions and click on the register button.
Your registration is completed and your account has been created.
You can now login into your account. To login into your account, enter your username and password and click on login.
FX Profit Signals Types: Free and Paid
FX Profit Signal offers free, VIP, Platinum, and +30 pips signal services for forex signals. In addition, they also provide free and VIP binary signals. We will discuss each of these subscription plans in detail.
There are 3 types of free signals provided by FX Profit Signals: Binary Options signals, Forex signals, and +30 pips signals. The best part about the free signals is that it is very detailed with explanations. Here are the details that a signal contains:
- Time: The date and time at which the signal was posted
- Instrument: The trading instrument for which the signal is made
- Action: Whether to buy/sell the underlying asset
- Stop Loss: The stop loss level in case the prediction goes wrong.
- Take Profit: 3 take profit levels are provided.
- Status: Whether the signal is active or inactive.
Apart from this information, a trading chart containing the technical analysis is also provided. The stop loss, take profits, and the indicators are plotted. This is great for a new trader as they can not only copy these trades, but at the same time, understand the reasoning behind it. The free signals can be accessed from their website as well as in the free telegram channels. There are 3 dedicated telegram channels for free signals: free forex, +30 pips, and binary options signals. You get instant notification as soon as a signal is released. You can also view the signals that have been closed. This shows their transparency as they show both their losing and winning trades. Out of the previous 25 free signals that we have observed, 18 of them ended up profitable and 7 ended up in losses. That’s a win-rate of 72%.
This is a small sample size, but you get the idea how effective the free trading signals are.
Like free signals, there are paid signals for forex and binary trading assets. Under paid signals, you have 4 different trading signal subscription plans. Each of these subscription plans has different packages depending on the duration (1, 3, 6, 12 months). The longer plans have more advantages in terms of features and cost-effectiveness. We will give you in-depth details of each of these subscription plans so you can figure out the best one for you.
VIP Trading Signals
As discussed above, there are 4 different types of VIP subscription plans in terms of duration ranging from 1 month – 1 year. The price ranges from 45 Euros to 150 Euros respectively. VIP plan mainly offers short-term signals and you will get 5-7 signals daily under this plan. FX Profit Signal claims you will receive 1000-2000 pips per month from these signals. That means you will earn 1000-2000 pips from 150-210 trading signals per month. You will get these signals from both email and telegram. If you subscribe to the VIP signal plan, you are only eligible for this plan and not the signals from the Platinum channel. The 6 month and 12 month plans also offer an Expert Advisor. This EA is called LockInPips and we will discuss more about it in a later section. The 12 month plan normally avails for 210 Euros but an existing promotion cuts 30% off the price to 150 Euros.
VIP Signal Instructions
FX Profit Signals have compiled a list of instructions for their VIP trading signals.
- Their signals work best with the H4 time frame
- Reaching Take Profit 1 ensures 80% success
- Even a 50% VIP signal success rate can ensure profits
- Don’t risk more than 2% of equity in a single trade
- Try out free signals before opting for VIP signals
Platinum Trading Signals
The platinum trading signals are the premium signals offered by FX Profit Signals. As opposed to VIP trading signals, platinum trading signals are long-term signals. These signals are trend reversal signals indicating when the trend would reverse.
Another distinctive feature of platinum trading signals is that there are signals for silver, gold, platinum, brent, wti, and currencies. So you get signals not only for currencies, but also for commodities. The pips you can earn are also higher with a platinum account. You will earn anywhere between 2000-3500 pips/month which is quite higher than VIP trading signals. Platinum signals also offer analysis for each signal. You will understand the reasoning behind each signal you receive. The signal includes the buy/sell limit and buy/sell stop order. You will also get a preparation time for the signal received so you don’t have to act instantly. Telegram is the medium through which you’ll receive these signals. There are 4 subscription plans for Platinum signals: 1, 3, 6, and, 12 months. The six months and the yearly subscription plan offer their expert advisor: FXProfitSignals EA. The 12 month plan normally avails for 310 Euros but an existing promotion cuts off the price to 230 Euros. It also seems to be the most cost-effective plan.
Platinum Trading Instructions
FX Profit Signals have compiled a list of instructions for their Platinum trading signals. These include:
- Platinum signals are meant for long-term trading
- Positions are held for at least 1 day
- Ratio of take profit to stop loss is set as: 2:1, 3:1, 4:1
- Invest 1%-3% of your total capital in a single trade
- You will get signals with pending orders.
Binary VIP Signals
There are 4 different types of binary VIP signals: 1, 3, 6, and 12 months. Here, you will get 10-20 binary options signals. FX Profit Signals claim to have an accuracy of over 76%. You will get two messages: one to wait for confirmation, and the other to place the trade. The expiry time of these trades is 5 minutes and above. The trading times range from 7 AM till 2 PM (GMT time). You will get these signals via telegram in their binary VIP channel. All the plans are under sale to this is the best time to avail these offers and make the most out of your investment.
Binary VIP Signals Instructions
Follow these instructions to get the most from the Binary VIP Signals:
- Wait for the confirmation to enter the trade
- Don’t risk more than 3% of your capital in a single trade
- Recommended strategy to manage position: Open 3 positions: each with 1% of total capital. Open first position immediately after confirmation message, and 10 seconds later open your second position, and 10 seconds after second position, open your third.
+30 pips Gold Signals
This signal is exclusively for trading currencies. The signals are very short-term in nature. You will 2-4 trading signals here which include only one stop-loss and one-take profit level. You can expect to earn 500-1000 pips/month under this plan. The signals are delivered through telegram and email and there will be notifications to manually close your position. There are 4 duration of these plans ranging from a month to a year. The yearly plan is the most cost effective and has extra features such as an indicator and an EA: GoldStar and FxProfitSignals EA. In addition, the yearly plan is also under a discount making the plan more attractive.
Indicators and Expert Advisors
When you subscribe to the yearly plans, you get extra features such as an indicator and expert advisor. In this section, we will discuss the features of these tools.
FX Profit Signal provides an indicator to the traders subscribed to the +30pips gold subscription. This indicator is called the GoldStar MT4 indicator.
The symbols included in the indicator are:
A modified Bollinger Band indicator
- Arrows: Signal to buy/sell
- Stars: Securing the signal to buy/sell
- Trend analizator: Shows the trend
This indicator is designed to help you find the tops and bottoms so you can buy low and sell high. Therefore, this indicator will help you find the trend reversals. GoldStar works with both short and long term trades. It is recommended to use this indicator when the range of movement is high. For short-term trades, use the H1 chart along with star and arrow. When the price makes a star, place the trade.
The accuracy of short-term trades is 65%. For long-term trades, use the H4 chart along with star and star. Place the trade when the price makes a star.
The accuracy of the long term trades is over 75%. This indicator works for all forex pairs. The indicator is available to those under the +30 pips gold plan.
The Expert Advisor provided by FX Profit Signals is called LockInPips. This EA moves the stop loss to +5pips profit after +30pips profit level is reached. You can customize both these values in the input tab of the EA. You can also change the ‘trades’ value which allows you to change when your stop loss will be activated.
To run your Expert Advisor even after you turn your computer off, you need a Virtual Private Server (VPS).
Fx Profit Signals Recommended Broker
FX Profit Signals recommends XM as its go-to broker for all your trading signals. This is a regulated broker authorized by the FCA, ASIC, and, CySEC. Traders from more than 190 countries trade with XM. You will get support in over 30 languages which make it easy for traders to get support. XM offers over 300 trading assets for forex and CFD trading. They offer 3 different types of trading accounts: Micro, Standard, and Zero. XM offers leverage up to 1:500 and the lowest spreads (as low as 1 pip). They also offer Islamic account and the best part is you only need to deposit $5 to start trading with them.
Forex Education and Tools
FX Profit Signals is one of those rare signal providers that provide a comprehensive source of forex education. This includes a basic introduction to forex trading where they cover the basic concepts on currency exchange. Other topics include fundamental and technical analysis, trader’s psychology, charts, and trading signals. Among forex tools, they offer economic calendar, currency calculator, pip calculator, profit calculator, position size calculator, and risk and reward calculator.
Contact & Support
You can contact FX Profit Signals via live chat available in their website. Their users also get 24×7 email support for any assistance. You can also get in touch with them by sending them a message via their website. In addition, they have social media pages such as Facebook, Youtube, Twitter, and Instagram where you can contact them.
Pros and Cons
This signal provider ticks a lot of boxes, but disappoints in some sectors. We will go through the benefits this signal provider offers and the areas where they can improve.
- Wide range of forex signals
- Dedicated telegram channel
- High-win rate
- 4 different subscription plans for signals
- 24/7 email support
- Daily free signals
- Transparency in trading results
- Previous trading results history
- Forex education and tools available
- Trading results are not verified by MyFxBook or similar sharing service
- Testimonials doesn’t seem genuine
- Identity of the signal provider is unknown
After reviewing FX Profit Signals, we can say it is one-of-a kind forex and binary options signal provider. Traders get a lot of flexibility in choosing different subscription plans. The best part is they can trade with free signals first before purchasing any plan. However, the paid forex signals have a better win-rate than the free ones. The signal alerts on telegram is convenient as the app is available on both mobile and pc. We are pleased with the results of this signal provider. In conclusion, FX Profit Signals allows traders from all walks of life to make forex and binary options a profitable avenue.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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