Forex Live Trade Alerts is a new signal service that wants to make the lives of their clients easier. They hope that their product will allow traders “to easily invest in the Forex markets without spending hours in front of the charts.” This is certainly a problem for many traders, which is why we are such big proponents of Forex robots, but signals can achieve the same goal if used properly. Today we will be providing a complete review, and letting the community understand if this is a viable investment opportunity or not.
Launched on 03-11-2020, the signal service is very new to the market. There is no information provided about where the team is located, and there is no introduction to any of the signal providers. The quote at the top of the website doesn’t specify the name of the creator, just specifies that it comes from the “CEO of FXLiveTradeAlerts.” We do find this a bit strange, and hope that in the near future they will provide more information about their staff. It is imperative that we know who the analysts are, in order to verify their identities and check their reputations. We simply don’t want to receive signals from someone who doesn’t have a proven track record in the Forex industry.
Forex Live Trade Alerts Review
Our first impression of the Forex Live Trade Alerts website is that it’s a bit unorganized and disjointed. The navigation leads to a bunch of random articles, and the design elements are poorly put together. This doesn’t mean that the service can’t exceed our expectations, but an unprofessional website like this certainly lowers them.
Currently, they provide their trading signals through telegram, where they offer a personal Q&A with all their members. This service also promises a 87-93% success rate, 24/7 customer support, live trade updates, analysis and 5-7 signals per day.
Many of the aspects above are what we look for in a best Forex signal service, but we aren’t willing to put this service in that category just yet.
The Forex Live Trade Alerts team provide an article about the different trading strategies available in the Forex market, but it’s more of a generic piece. It’s good to see that they understand the different trading methods that are available, don’t really go into detail as to how they utilize these techniques.
All they tell us about their strategy is that it’s based on historical price movements, current trading conditions and technical analysis. We really would like to see some sample trades and analysis of those trades to get a better understanding of their approach. This should be very easy for the vendor to provide as they mention on multiple occasions that they provide analysis and detail of each trade provided in their telegram channel.
- Type: Forex Signals
- Price: $100/month
- Strategy: Technical analysis
- Founded: 2020
- Signal Frequency: 5-7/day
For traders interested in the FX Live Trade Alerts service, it’s going for $100/month. The signals can also be purchased for $35/week, $499/year or $1,000 for lifetime access. Overall, we find the prices to be quite expensive in comparison to the rest of the market. We don’t believe the prices should be as high as they are because this is not an established or proven service, but that’s up to the creator. You can see the prices are a bit more affordable for other services we’ve recently reviewed like Pips Alert, Forex GDP and Easy Forex Pips.
The developers of the Forex Live Trade Alerts signals service provide a telegram results page on their website. This page shows screenshots from their telegram group with signals that they’ve provided. All of the results provided appear to be from the first two months of service, in March and April of 2020.
None of the results provided are verified by a third party like Myfxbook or FX Blue. They only provide screenshots, which means they can be cherry picking the trades and showing us exclusively winners. This is not what we expect from a new vendor, and especially not one who is looking to charge clients $100 per month.
If they want to be taken seriously, they will have to upload their results to Myfxbook and prove that their service is viable.
There are both positives and negatives with respect to the Forex Live Trade Alerts service, but overall we are not ready to provide a recommendation. We would like to know more about who the trade analysts are, and see some verified results before we decide to join.
If you have anything you would like to add to the review, please do so now.