According to its website Profit, Forex Signals is the best choice for all traders since 2010. The site claims trustworthiness and a proven winning streak because of its vast customer base. Throughout this article, we perform an EA review on Profit Forex Signals, analyzing its stats, website interface, and trader reactions to confirm if the bot has a basis for these claims.
What is Profit Forex Signals?
Profit Forex Signals is a forex expert advisor that claims to have more than a ten-year run in the market today. Nino owns the forex bot, and its headquarters is in Trade Business Center, New York. The EA offers many tools and trading resources.
According to its site, the bot promises that once traders start using this platform that they won’t do margin calls, they won’t overtrade, and the information the site provides won’t mislead. The sales page claims that the EA was created using the top mathematical precision and is highly user-friendly.
Traders can choose between the four packages that Profit Forex Signals offers, including:
Standard 1000 that costs $49 per month. With this plan, you get an average of 1000 pips net profit up to 50% investment return. Aside from customer support, you also get Free VPS and Copy Trader. Professional 2000 costs $99 and will get you an average of 2000 pips net profit and more than 20 signals every week in addition to all Standard 1000 benefits.
Ultimate 5000 costs $249 a month and comes with an average of 5000 pips and a 150% investment return. And 90% trading accuracy. Pearl 9000 is the most expensive and costs $499 a month with an average of 9000pips net profit and 300% ROI.
Features of Profit Forex Signals
- Frequent trade alerts
- Numerous channels of customer support
- The effective loss recovery technique
- You can use the robot with a mini account
- Short stops and low drawdowns
- Both amateur and professional traders can use it
- It’s not broker specific
EA Review: Profit Forex Signals
The EA is compatible with MT4, has fast signal execution with SL, TP, and adjustable lot sizes. You get free VPS hosting with this bot and 24/7 support. They have two services; automated trading by studying market trends and providing forex signals. Despite being completely automated, the creator still monitors the trades, adding a manual essence to the bot’s functionality. The cluttered website and explanations don’t look professional.
Profit Forex Signals claims to make at least 400 pips profit monthly on their cheapest package, rising to 10000pips for their most expensive one. They say this is because of their prompt trade alerts, which they disburse to traders via SMS and email. Once a trader gets an alert, they have a one-hour window to trade. They also have an option whereby you can trade with your PC off by using the free VPS they offer.
The robot places pips of not more than 35 pips from the entry point. Any alert that the robot receives is a pending order, and it will come fully packaged with an entry, stop and target point. This package ensures that you have the full backing of an entire team of experienced traders when making a trading decision.
EA Review: Stats and User Reaction
The creators want us to know about their key pointers, including affordable prices, reliability, and verified performance on Myfxbook. There are so many promises and guarantees but no explanation as to what they do.
The creator also seems fixated on the 350K Facebook fans and harps on it all through the website. The user reviews on his site are amazing, but on review sites, they are rated poorly. The bot trades within different currency pairs and seems to be more of a forex consultation service than a forex bot.
Profit Trading Signals on MyfxBook
The robot’s demo account begins with the trader depositing $200 in September 2020. The account has grown to $1,256.78 and accrued a -$45.65 interest. Profit Trading Signals here used the 1:500 leverage and the EURUSD currency pair. The absolute account gain stands at 528.39%, with the account gaining 0.73% daily and 43.25% monthly. The drawdown was at 70.77%, which is an all-time high. Profit Trading Signals updated the account last on 22nd February.
The trader won 381 out of 491 trades, which represents 78% of the total trades. It won 72% of the long trades and 80% of the short ones. The average trade length is 16 hours and 21 minutes, and the profit factor, 1.43.
For the monthly analytics, we witness very odd numbers in 2020, and the data isn’t consistent as some months are missing from the stats. Everything tanked in January this year as the account experienced a massive freefall to -7.97%, which picks back up in February.
Judging from the demo account that the developers provided, we can safely say that the robot is very unstable in making a profit. The instability is on display, especially with how erratic the graph is. We can judge the massive 70% drawdown, which would eat into profit such that there’s very little profit left for the trader.
We don’t think this robot is genuine. Profit Forex Signals has provided us with numerous user reactions to show how legit his bot is, which led us to question what they were overcompensating for. The creators seem to be putting up a front.
We checked the stats and were shocked by the unrealistic monthly gains in the demo; for example, in October 2020, the robot made 104.55% gains. The robot also seems only to find good reviews on their sales page and nowhere else. Popular review sites seem to be swarmed with negative thoughts and claims of scams. It also seems like the developers paid people to type fake reviews on the review sites and were caught.
We haven’t seen stats from a real account from Profit Forex Signals, and judging from the erroneous stats to the dishonest reviews, we already know we can’t trust them. We don’t recommend using this robot.