Signals Factor comes with no hidden costs and claims to offer trades only from the profitable traders. The company provides multiple subscription packages and tracks their records through the FXBlue platform. There are over 45000 members in their community, according to the information present on the website. We will go through the live records to see if the system is good enough for our portfolio.
The company offers its service through multiple subscription packages. Following are the pricing details for each:
- Telegram news package $49.99
- Algobot trade copier $199.99
- Algobot signals package $99.99
- Algobot gold trade copier $199.99
Is the Signals Factory good?
Signals Factory is not transparent in its portfolio. The company does not provide details on their experience and whereabouts and is not using backtesting records to show historical performance.
Features of Signals Factory
The service has the following features:
- They offer copy trading services
- A trading community of 45000 traders
- No hidden costs
- No conflict of interest
- Trades are tracked via FXBlue
|Trading Terminals||MT 4|
|Price||Telegram news package- $49.99 Signals package- $199|
What strategy does Signals Factory use?
The developer does not provide any information on the strategy that they use to trade. Signal Factory only states that they are not using any grid or martingale approach for markets. From their live records on FXBlue, we can observe that they trade on multiple currency pairs and may or may not use a fixed stop loss or take profit for trades. The positions come with a magic number showing that they are placed by an algorithm. An average trade length of 3.2 days shows us the swing trading methodology.
Backtesting vs live trading results
There are no backtesting records available by the company. This is a poor approach as we cannot know or predict what kind of drawdown or profitability we can expect from them in the future without any historical testing.
Verified trading records are available on FXBlue. We have a performance from November 30, 2021, till the current date. The robot makes an average monthly gain of -13.7% for the duration with a drawdown value of 21.3%. This provides us with a poor risk-reward ratio of 4:1 and tells us that the robot has currently lost more than 10% of the account balance.
With a winning rate of 51%, the algorithm had a profit factor of 0.22. In a total of 156 trades, the total gain was -20.7%, where the best execution turned in $7315, and the worst was -$258.53.
The core team
As mentioned before, we have no information on the authors’ names and their whereabouts. This is again a poor approach that raises many concerns on the company’s credibility.
Signals Factory has a total rating of 2.081 for three reviews on Forex Peace Army. One of the traders states that the company is not profitable at all and requires traders to pay more for the losses.