Gold VIP Signal is a Forex signal service provider that claims to let you trade efficiently without any special experience. As per the vendor, this system monitors your account at all times to make sure you don’t miss out on any trades. Furthermore, the traders have full control over their funds at all times.
How Gold VIP Signal Works
On the homepage of the official website, the vendor has provided us with a brief overview of what the system is about and how it functions. There are several other tabs where you can find out more about the vendor, the signals, the trading strategy, and more.
The link to a Myfxbook account showing live trading results has also been provided by the vendor. We also have a “contact us” tab where the phone number and email address of the vendor are shared. There is also a link to a WhatsApp group
The team working behind Gold VIP Signal consists of 15 members. These individuals are based in Switzerland, India, Bangladesh, South Korea, and Singapore. As per vendor claims, these are experienced and professional people who work round the clock to improve your trading experience. But we don’t know their identities, and no physical address has been provided for the company, which is a bit disappointing.
With this signal provider, the trader’s funds are kept stored at regulated brokers and banks. The vendor recommends starting out with a minimum deposit of $1000 and claims that it is possible to generate a monthly profit exceeding $300. The minimum lot size for a balance of $100-300 is 0.01, and it increases with the balance.
In the signals, the take profit, stop loss, and entry are mentioned and there is no spread or swap. The trades are executed instantly or with pending orders, and the entry signal target lies between 100 and 300 pips. The vendor recommends using a maximum of 15-20% of your funds for all the open positions. For individual deals, a maximum of 5% should be used, in order to prevent losses caused due to drastic market movements.
Gold VIP Signal applies a trend following strategy that is suitable for the H4 timeframe. A combination of multiple indicators and oscillators are used with support and resistance zones in order to locate the entry points and find out the take profit levels. Fibonacci expansion levels are also used in the strategy.
Unfortunately, the backtesting data for this signal provider is not available on the official website. Thus, we have no idea about the system’s historical performance. Backtests are considered vital by most Forex traders, who wish to know whether the system can survive long drawdown periods. We hope the vendor decides to share this in the future.
Gold VIP Signal Trading Results
This live trading account on Myfxbook has been active since 2nd March 2021, which means it has a very short trading history. We can see that the time-weighted return for this account is -95.23%, which is a very bad sign. To date, 437 trades have been placed through this account, out of which 346 have been won. This means the trading account has a profitability of 79%.
Currently, the daily and monthly gains are -4.14% and -75.04% respectively, while the drawdown is incredibly high at 99.38%. Thus, it is clear that the signal provider follows a risky approach that leads to huge losses for traders. Although the profit factor of 1.45 is quite decent, we can see some sizable losses made during the last five trades, the highest of them being -95.75%.
Pricing & Refund
You don’t need to pay an upfront fee for Gold VIP Signal. When you withdraw money from your trading account, you need to pay the vendor 40% of what you take out. We think this an odd pricing scheme, and furthermore, there is no mention of a money-back guarantee.
There are no customer reviews for Gold VIP Signal on the web, but this is hardly surprising considering the short trading history of the system. It seems not enough people trust this signal provider as of now. It may take several months of live trading before traders finally start to notice this service provider.