Centre Forex is a signal providing company that has offers other services like PAMM-management and market analysis with education.
How Centre Forex Works
Let’s gather together the info that was parted across the site and focus on features:
- There’s an experienced team with over 15 years of trading experience.
- The vendor provides a list of brokers to work with.
- Trading results of the master account are verified by myfxbook.
- For the PAMM account, the vendor charges fees only from profits. No profits, no fees.
- The company provides lightning-quick support.
- For the PAMM account, the minimum deposit can be as low as $3000.
- The signals have Stop Loss, Take Profit and Entry Price.
- They’re delivered before the opening of the London Stock Exchange.
- There are many satisfied customers.
- The list of approved brokers is not cool. There can be only IC Markets trusted.
- This widget tells us that most pips were gotten on Gold.
- The system uses 30-100 pips Stop Losses.
- Some of the signals are provided as executive orders, not pending ones.
- If we pay for a monthly subscription, we can use a trade copier.
- FIFO-clients are accepted.
- The monthly profit expectations are over 1000 pips.
- Signals are delivered via email, Facebook, Skype.
- There are InterDay Trades, Short Term Trades (up to three daily), and Long Term Trades (maximum one monthly).
- The Lot Size is 0.01 for each $500 of the deposit.
- We can trade signals on any broker.
- The profit range for short-term signals is 25-100 pips.
- The profit range for long-term signals is 50-200 pips.
- Signals have this format.
- The risks should be 1%-2% per trade.
The robot performs a Technical Price Action strategy on the next symbols: EUR/USD, GBP/USD, USD/CHF, EUR/JPY, and XAU/USD.
Centre Forex Trading Results
The developers didn’t provide backtests because an Arbitrage strategy which they use in gettings sky-high profits is just a system that works with slow and fast brokers, trying to reflect where the market goes on the slow broker.
We’ve got a demo USD account on Range Markets. This account is traded manually, as the system said, but this is not true. It’s an Arbitrage account that is run by the robot mimics as a manual trader. The EA trades with 1:300 leverage on the MT4. The track record of the account is not verified. It was created on September 13, 2016. Since then, there are three years of good-for-nothing results. The absolute gain has become +4545%. An average monthly gain is +7.75%. The maximum drawdown is 28.24%.
The drawdown periods are consistent and long-term.
The robot closed 2066 deals with 84083 pips. An average win is 232.20 pips when an average loss -216.88 pips. The win-rate was between 55% and 59%, as it should be on an arbitrage account. An average trade length is one day. The Profit Factor is 3.03.
EUR/USD and GBP/USD cover arbitrage trades of XAU/USD. The pips counter that we mentioned before showed pips gaining. Instead of losing, we see in the trading results.
The robot trades during a European trading session.
Tuesday and Thursday are the most active trading days.
The risks to the account balance are good now.
The robot trades horribly, losing many trades in a row.
These past trades showed a difference between Lot Sizes of Arbitrage deals (Gold) and the rest of the symbols.
The last four months have ended with little losses.
Pricing & Refund
The monthly fee for signals is $250. It’s an overpriced offer when in any MT4 there are endless signals for $30-$40. There’s no refund policy at all.
We’ve checked their Twitter profile to understand where the owner is from. As we can see, the account was registered in India about ten years ago. Most of the posts aren’t connected to Centre Forex trading activities.
The LinkedIn page doesn’t look better. There are four employees in the company.
The system can’t identify them, or information about working for them was removed.