Centre Forex is a new signal service that claims to have more than 10 years of trading experience in the Forex and commodity markets. They send trade alerts twice a day via the website, Skype, Facebook and email. We aren’t sure why they are using so many different sources, but it must be so that they can reach as many of their clients as possible. This provides a fair amount of accessibility, which isn’t always required, but is an extra step that should be noticed. Today we will be providing a review and letting the community understand if this is a viable trading service.
The team tell us that they first launched the service in the year 2000, with their professionally experienced traders. When doing our research on the history of the website, we found on their WHOIS page that the website is currently available for purchase for $10,000. This means that the vendors are actively shopping the website, and that the service could seize to exist at any time. It’s possible that they have some sort of plan to shift their clients to a new website, but this is not specified anywhere on the website. We certainly need some sort of answer on what this is all about, before we can provide any sort of recommendation. We don’t want to tell any of our clients this is a worthwhile service just to see it disappear days later.
To get in touch with support traders can email firstname.lastname@example.org.
Centre Forex Signals Review
The Centre Forex team currently offer a managed account service, and a signals service, but for the purpose of today’s review we will be analyzing the signals only. They have a system which produces many signals throughout the day, and their analysts sort through them and pick out the best. In fact, they will only send signals that work with a 1:1 risk reward ratio and a maximum stop loss of 100 pips alongside pre-defined take profit levels.
They send the signals daily before the London market opens, and provide the signal in the following manner:
- Entry value
- Stop loss value
- Take profit target
- Profit value
Each signal is sent in this format to ensure the client uses the signals properly. This is a normal format that we expect all of the best Forex signal providers to follow.
The Centre Forex Signals are “calculated by studying trend lines, support and resistance levels and psychological levels.” They do not go into great detail about this methodology but we do feel that they have a fair amount of knowledge of the Forex markets.
The signals focus on five pairs at a time, and avoid all emotional decision making. They feel that this focus in conjunction with having reasonable risk tolerance is a requirement to use their signals. In fact, they don’t want traders to join their service if they are not able to handle losses, as losses will happen.
- Type: Signals
- Established: 2000
- Price: $250/month
- Strategy: Support and resistance / Trendlines
- Trading Time: Before London open
- Signal Frequency: Undisclosed
At $250 per month, the Centre Forex Signals service is one of the most, if not the most expensive we’ve ever reviewed. This is not a good thing, because most traders don’t have hundreds of dollars available on a monthly basis. Especially, when the majority of signal services are around $50 per month and often less, as you can see in our reviews of Spy FX, Silicon Signals and FX Profit Signals.
The Centre Forex Signals service currently provide a single Myfxbook demo account with the Range Markets brokerage to prove their trading performance. This account showed normal gains for an extended period of time, but have made some really strange, borderline insane gains in the last few months. The account is showing a gain of 4775.83% with a drawdown of 28.24%. This is over the course of 4 years, 2021 trades with an average trade length of 1 day. The risk reward ratio is 1:1, with the average win registering at 224.23 pips and the average loss at -215.15 pips.
While the numbers are impressive, we are having a hard time believing something untoward isn’t happening here. For years, this account traded normally, showing a gain of just over 100%, but then made a sharp 300% gain, followed a year later by a 4000+% gain. This gains are made up of a few really high lot size trades that turned into very large returns. One of the trades lasted 5 days and made 14509 pips, which seems too good to be true.
With results like these, we always want to see client results to see if they match up. We hope a client will leave their results in the comments under our review.
The Centre Forex Signal service is certainly interesting, especially with the large gains they are boasting. Though, the fact that their website is for sale, and the lack of professional feel with their aesthetic, there are aspects that need to be addressed by the vendor.
If you have anything you would like to add to the review, please comment now.