Is a Profit Forex Signals company garbage?
Profit Forex Signals Brokers Hedge introduces itself as “The best forex signals provider since 2010 More than 1000000 pips provided.”
- 10000 monthly pips
- 90% accuracy
- Myfxbook Verified
- Outstanding performance, up to 300% profit /month
- Online Alerts
The strategy is explained so scamming: “First we will assure you that you cannot lose a cent. Yes, you read well there is no chance that you lose ONE PENNY! Let us explain to you how you cannot lose anything, and how you are only making money.”
We have to register two accounts on different brokers:
“You need 2 brokers account. One with DOITFX or IC MARKETS (or any other broker, we are using IronFX and IC markets because prices are the same). One with DOITFX forex broker – this is mandatory that one of your trading accounts is with DOITFX. Now here what is about. Let say that you deposit $100 with IC MARKETS (or any other broker) and $100 with DOITFX.
Now you have deposited $200 at 2 trading accounts. One with IC MARKETS and the second one with DOITFX. Now you start to trade.”
They explained the start of strategy the next:
“I.e. you BUY EUR/USD with account what you have with IC MARKETS, at the same moment at the same price you go to SELL with DOITFX broker. Now, you won those buy trade and make $10 with IC MARKETS. At the same moment, you have also lost your sell order with DOITFX. Now you have a $110 account trading balance with IC MARKETS and a $90 account trading balance with DOITFX. It equals to $200. So you did not lose a cent, correct? Now you see why we told you that you will not lose and that there is no chance that you lose anything.”
It’s not correct at all, first of all, because of the spreads. Secondly, the numbers of grammar mistakes of the original text say for us more than everything. They even wrote IC Markets without “s”.
It’s garbage. What’s the reason DOITFX to pay losers? There’s no common sense. Where the company gets money from to pay this? How do you know that the correct order will be on ICMakrket not on DOITFX? Reading this is not hard to understand that these guys were hired to attract new traders to a DOITFX brokerage company, because they say that the would pay you 50% of loss upfront. Okey? So, no name guys will pay to us for losing money during trading through the broker? Scammers. It’s a fraud scheme.
Can anyone explain what kind of English it was written? How is it recommended 1000 and after that 10000+ users? We don’t know but it’s not investors and traders oriented text.
Who said this has 95% chances to be a scammer.
It’s another scam tells.
As a result of their incredible success, they introduced a Myfxbook page with only demo accounts and one real with -10% of the profit.
All of this is a lie. 10 years? Lie! Their myfxbook accounts several months old.
We don’t know who give them this award.
The standard membership should bring us to financial freedom. Let’s check Full Details.
We’ve got a Copy of not verified report. I can do this in MSWord, bot a big deal at all.
Looking across the whole site we couldn’t find any sign of a signal. Just wall of stupid and endless text for pigeons.
Everything starts with how to trade on two brokers and ends by giving us $200K to trade please, please, please. So, now they kind of PAMM system. It’s messy. How are they? Signal providers, PAMM account runners, trickers? Look at the photo of Nino. Would you give this guy $100 to carry? No, of course!
In order to get our profit, we have to follow the rules. It smells like they want us to be partners in crime. It looks like we become a content manager on a $100K real account. Seriously? It’s a lie. No one gives you even a $1000 account to log in.
The team
We can believe that the first photo belongs to the real person of this company.
The rest one is from Stock Photo.
Julie is a web-designer Google says.
Trading results
Everything is mixed and over the place.
They said they’ve got at least half a year results, but Myfxbook accounts say “no.”
If we click at “HERE” we’ll find results belong to Golubovic Ninoslav, that can be easily photoshopped.
Okay. It’s now the average account looks like. It’s a Demo USD account on IC Markets with 1:500 leverage on the MetaTrader 4. The account’s gain is +29.49%. The monthly gain is 9.37% with a high max drawdown that equals 26.18%.
There have been traded 693 trades with 604.5 pips, The average win ($15.24) is twice low than the average loss (-$28.95). Win-rate is between 64% and 72%. The profit factor is very low and amounted to 1.14. The average trade length is almost 5 hours.
The signals are ok only for EUR/USD.
It trades all day, without Friday.
The account runs with extremely high risks.
As we can see, there are SL and TP placements.
There are other accounts like this. So, we don’t like this performance.
Fake rating
Using the site you’re haunting by the fake unclickable rating.
These reviews are verified by no one.
Kind of pricing
So, in order to start, we have to pay 200 EUR. Why EUR if the dude is from NYC? It should be USD payment, right?
200 EUR we have to pay for a consulting company as a “FEE.”
This dude runs a company with another name. It’s 100% scam.
There are four offers. All of them are nonsense and fake. We’ve seen the ULTIMATE Myfxbook account there was no 150% investment return. During 4 months there was just less than 10% of the account gain.
Buy Now sends us to pay for the same consulting company.
Summing up
Pros
- No pros
Cons
- Everything looks like a fraud schema
