Profit Forex Signals claims to be the topmost signals provider in the industry since 2010. As per the vendor’s claims, it has generated more than 1000k pips in profit over the years. Also, they guaranteed to deliver over 9000 pips per month.
There are four pricing plans for this service, namely Standard, Professional, Ultimate, and Pearl. With the more expensive plans, you get higher average pips and ROI. Also, the costlier plans have higher trading accuracy. The monthly charges for the plans are $49, $99, $249, $499, respectively. None of them are cheap by any standards. Moreover, there is only a 7-day window during which you can apply for a refund.
Is Profit Forex Signals good?
The vendor promises reliable service and high ROI on the official website. However, the plans are much too expensive. Also, the live trading account has not been active for too long. As such, we don’t know whether the signals are profitable in different market conditions.
Features of Profit Forex Signals
There is a highly experienced team of analysts behind this signals provider service. With the Pearl package, for example, you get 4 dedicated pro traders. The vendor has shared the live trading results of the signals in the verified trading account on Myfxbook. You don’t need to deal with complex indicators and configurations. The signals tell you all you need to know.
Usually, the stop loss is 35 pips away from the entry point. The vendor recommends trading with the IC Markets broker for optimum results. This broker offers the lowest spreads, flexible leverage up to 1:500, and is fully regulated.
Profit Forex Signals supports pairs like EUR/USD, USD/JPY, EUR/JPY, USD/CHF, GBP/USD, AUD/USD, USD/CAD, NZD/USD, EUR/AUD, AUD/JPY, GBP/CHF, GBP/JPY, CAD/JPY, AUD/CAD, EUR/GBP, EUR/CHF, NZD/JPY, and CHF/JPY. When trading micro-lots, you can get started with as little as $250.
| Trading Terminals | MT4 |
| Strategy | N/A |
| Timeframe | N/A |
| Price | $49/month |
| Money Refund | 7 days |
| Recommended Deposit | $250 |
| Recommended Leverage | 1:500 |
| Money Management | No |
| Customer Reviews | Good (4.5 out of 5 rating based on 393 reviews on Trustpilot) |
What strategy does Profit Forex Signals use?
On the official website, the developer has not properly explained the trading strategy. Thus, we don’t know how the signals are generated or what type of markets they are most suitable for.
Backtesting vs live trading results
Here we have a live trading account on Myfxbook that was launched on January 24, 2022. It has spent a very short period of time in the live market. This means, there is no way to determine whether the signal service is profitable in the long run. To date, 109 trades have been conducted through this account, out of which 93% have been closed in profit. The win rate is quite high compared to other systems.
At this moment, the daily and monthly gains for this account are quite impressive 0.61% and 20.08%, respectively. The profit factor of 4.35 is higher than most, while the time-weighted return is 42.88%. Currently, the total profit for this account stands at $376.27. It has a very high drawdown of 41.65%, which indicates a high risk of ruin.
From the live trading history, we can see that the system conducts trades with a fixed lot size of 0.05. To date, it has suffered only a few losses, but all of them were substantial. On average, this account holds an order for 21 hours and 3 minutes. The average win and loss are 10.71 pips/$4.84 and -26.79 pips/-$14.05, respectively. There are no backtesting results for this system.
The core team
Nino is the CEO of the company and other key members include main trader Anna, manager Chris Doe, support member Julie, and trader Robert. The headquarters of this company is located in New York, USA. You can get in touch with the team using the official email address or phone number.