8Alert advertises itself as the leading GPS for traders that provides up to 8 winning signals in real time on a daily basis. Their “vision is to a race the line separating experienced players in the global Capital Market from ordinary households worldwide.” They want to give daytraders the exact same advantages that the more experienced and more funded traders have at their disposal. With having access to this information, and a platform to trade, this group believes that anyone can develop a second career trading Forex.
The signal service is owned and operated by 8Alert Ltd., started in 2015. There is no information provided about their location, but traders can get in touch with support via livechat, email at email@example.com or phone +1 347 491 3862.
The 8Alert signal service aims to provide multiple signals for both day trade and swing trading opportunities, including the entry price, stoploss and potential price targets. The platform works for stocks, futures, commodities and currency trading all under a single umbrella.
The service comes with applications that are compatible with iOS, Android, and PC. These options make it easy to receive trades, as they can also be received via text and e-mail.
4 Reasons for Success
The 8Alert trading group feels they are different from other signal service developers due to 4 separate reasons.
- Partner in success: they work alongside their traders offering guidance and follow-ups throughout the entire trading process.
- Expert analysts: the analysts provide detailed explanations of each signal, which include charts and trading history. In the latest signals section, we can see that there are 8 different analysts available, but there doesn’t seem to be an area on the website that introduces us to these analysts, and explains their approach. This is certainly something we would like to see added to the website at some point in time.
- CSM compatiblity: these services compatible with “the CSM system and uses an algorithm that provides currency strength indicators.” We aren’t exactly sure what this means, and it should be elaborated.
- Never miss a signal: essentially, due to their applications, traders have easy access to the Forex signals at all times.
- Type: Forex Signals
- Price: $500/month
- Strategy: Not detailed
- Signal Frequency: 8 per day
- Pairs: EURCHF, USDCHF, USDJPY, NZDUSD, and more unlisted.
There’s no two ways about it, the 8Alert team are positioning themselves as a premium Forex signal service. Coming in at $500 per month, this is certainly the most expensive signal provider that we have ever reviewed. While they are certainly professional, at this point of the review, there doesn’t seem to be in major separation between their service in many of the others we’ve reviewed.
The vendor also provides a 14 day free trial, which gives traders full access to the service to test it before paying the exorbitant fee.
Considering the high price, we are expecting the 8Alert team to knock our socks off with their performance. Yet, this doesn’t appear to be the case. Their performance page is made up of some statistics from over 2 years ago, and then a “latest signals” table which shows us the last 15 signals provided. These signals are impressive, and when you click on them you are shown multiple images throughout the process, including updates, which is a positive.
The issue with this signal table, is that it’s a very small sample size, and the results are not verified. This service does have a connection to automated trading, and Collective2 so I’m sure they do have verified results somewhere, but they don’t seem to be provided on their website. This is something they should certainly add to the results section.
Another concern we have with this table is more specific to their Forex trading signals. There are 5 Forex signals provided in total, and the signals are all from over a month ago. Which means that the vendor isn’t actively providing Forex signals. So, if you use the service, you would certainly have to trade more than just Forex in order to get your money’s worth.
The 8Alert group is certainly professional, and provide an interesting signal approach, but at this point in time it’s hard for us to stomach the $500 monthly fee. In order to get to a point where we would be willing to spend this money, we would need to see a general explanation of their strategy, an introduction to each analyst, and a verified track record of longer than their last 15 trades.
If you have anything you would like to add to the review, please leave your questions and remarks below the article now.
Price - 40%
Strategy - 70%
Trading Results - 60%
Client Feedback - 70%
Customer Support - 70%
No analyst detail
No verified results