As a signal service promising financial independence, Elite FX Signals claims to provide accurate trading results. It assures a reliable, convenient, and transparent trading system. This signal service is part of the Elite FX Group, which also owns and manages the Elite FX Training academy, and the Elite FX Robot trader.
Most often such services have lofty claims but fail to deliver what they promise. Does this service fall in this category? In this detailed review, our experts have analyzed various features of the service and its performance. We hope our evaluation of the Elite FX Signals service will help you make a better decision.
How Elite FX Signals Works?
As a provider of personalized trading solutions, this service operates globally with the Netherlands as its base. The Forexpeacearmy site indicates the service is owned by Ricky Bijland. From the official site, we could find a contact address for putting forth any queries or complaints regarding the system, and an email address. The website also has a WhatsApp phone contact for reaching out to the support people.
From our perusal of the site, not much info can be gathered about the significant details we look for like the strategy, trading results, etc. Instead, the content merely mentions some of the features and how the system helps you earn passive income.
On the working method, the vendor claims the service is 100% transparent and provides full control over the funds you have in your trading account. To use this service, you need to choose the package of your choice, make the payment, check the email, and follow the trades and instructions or allow the automated system to take over.
There is no other info on the approach used or how the service provides profits for traders. Despite the mention of transparency by the vendor several times on the site, the absence of strategy explanation indicates it is not a reliable system.
Applied Strategies
The vendor does not provide any explanation of the strategy used. While there is mention about maximizing profits with the breakeven feature and minimizing losses with the trailing stop, the specific trading approach is not revealed.
And, no strategy reports are provided. Without backtests and strategy explanation, we are unable to know about the approach used and the performance. This lack of transparency makes us suspect that this is an unreliable system.
Elite FX Signals Trading Results
Trading stats of real account using this system are not revealed by the vendor. Despite the mention of accurate trading results, we could not find any results verified or otherwise posted on the site. We would like results verified by a trusted site like myfxbook or FXBlue.
This is because we can make a thorough analysis of the various aspects of trading, such as the gain percentage, drawdown, trading history, lot size, etc. These components provide proper insight into the strategy used. Since this service does not provide verified results our suspicion about the system’s reliability is confirmed.
Pricing & Refund
The vendor offers a VIP pack that costs €199.00. Some of the feature highlights include a real and a demo account, the ability to choose lot size, MT4 indicators, daily signals, installation video, and software updates.
We find the cost highly expensive as the features offered are not unique and many competitor signal services offer more features at a more reasonable price. And, a refund offer is not provided which is another factor that confirms the system cannot be relied upon.
Customer Reviews
We found several reviews from users for this service on the Forex Peace Army site. Some of the negative reviews are shown in the screenshot below.
The reviews reveal that the system is a scam and does not make profits as assured by the vendor. One user mentions that the default setting recommended by the vendor resulted in a big loss rather than a profit. From these reviews, we find that our earlier evaluation of the system’s unreliability is true.
Trading Course
An exclusive trading course is offered by the vendor. It provides instant access to practical and theory related to Forex trading. According to vendor info, the course equips traders to trade independently.
