ForexSignals.com is a provider of Forex trading signals that claims to take your trading results to the next level. It has a team of mentors with a combined experience of over 55 years that provides customers with trading ideas. Whether or not the signals are truly profitable is a matter that needs further investigation at our end.
How ForexSignals.com works
On the official website, there is a video where one of the mentors explains how the system works and what it’s all about. We have some handpicked user reviews from Trustpilot and a list of features. The vendor has also shared the pricing details and has included an FAQ section.
ForexSignals.com was launched on 1st May 2012 by Nick McDonald. Later that year, he met his business partner, Will Thomas and they started working on the website together. Today, the team consists of 52 full-time members and 3 mentors. Andrew Lockwood, one of the mentors, has more than 30 years of trading experience, while Mark Bennell and Max Norbury, the other two mentors, have 15 and 10 years of experience, respectively.
The mentors at this website provide market analysis for the traders. There are daily live streams where you can review the price shifts for the pairs in real-time. The Trading Room remains active 24/7, and here you can access trading tools and strategies. Through this platform, you can also interact with other traders.
ForexSignals.com has several trading tools, but the vendor has not clearly explained how they work. For example, we can assume the Risk Manager EA tool is used for managing risk during automated trading, but we don’t know exactly how it functions. The Momentum Meter lets you see how each currency pair is performing in the market, while the Support and Resistance EA allows you to draw vital supply and demand areas.
After you sign up, you need to visit the trading room to get ideas published by the community. You can select which trader to follow, after which they will send you trade ideas to your inbox on a daily basis. The website has an education section where you can learn in detail the trading ideas of the mentors.
ForexSignals.com uses multiple trading strategies like naked trading, propulsion strategy, day trading, scalping, swing trading, and trend surfing. Naked trading is a type of price action strategy that does not use indicators, rather focusing on support and resistance levels.
Scalping is a high-frequency trading scheme that earns small profits from each trade and it is not suitable for beginners. Swing trading, on the other hand, uses candlestick patterns and technical indicators to forecast price swings in the market. The vendor has not clearly explained the trend surfing and propulsion strategies, which is a bit disappointing.
ForexSignals.com trading results
Unfortunately, there are no verified trading results for ForexSignals.com. Before investing in a signal provider, it is important to check its live performance. Despite the vendor’s claims, you can’t judge the performance of the system unless you analyze the live results first. Without them, no serious trader would consider investing in this software product.
Pricing & refund
There are three trading plans for this signals provider, namely Apprentice, Committed and Professional. The Apprentice plan gives you 1-month trading room access for $97/month. With the committed plan, you get 6-months room access for a monthly fee of $49.50. The professional plan costs $47 per month and gives you 12-month room access.
With the more expensive plans, you get one-on-one sessions with mentors. The professional plan includes the Trend Surfing EA and the license key to a Forex tester. All of the plans carry high monthly charges and the vendor does not have a solid refund policy.
There are multiple user reviews for this signals provider on the Trustpilot website. Here, the customers have complained about the lack of professionalism on the mentors’ part. They have stated that the live analyses are too brief and that the mentors are always eager to end sessions.