Forex Review: Signal Skyline

Today I’m looking at a new signal service that promises trading alerts from expert analysts, Signal Skyline. The developers of this service claim to have over 50 experienced market analysts generating simple straightforward trading opportunities with predefined stoploss points. They want us to feel as if their product is very user-friendly as they make a point to point out that there are no confusing charts, and we are provided with “only the information” we need to know.

The service offices are located at 250 Younge Street, Toronto ON, Canada, M5B 2L7. To get in touch, traders can either phone +1 888-300-8812 or email support@signalskyline.com. We are not introduced to the creators of this service, but there is a message from the CEO that wants us to know that “choosing right signals is as important as analyzing right trade.” This seems to be a grammatical issue, which is rare to see from a company located in Canada.

Signal Skyline Review

The first thing I notice, and appreciate is the vast amount of information provided by the Signal Skyline creators. On the how we generate forecasts page, there is an in-depth explanation as to how the market analysts plan their trades. They believe that they can minimize exposure while maximizing gains due to the usage of technical and fundamental analysis. They have specific fundamental factors that they look at before providing every single signal. Some of these factors include specific news events sorted by country, as well as their opinions on trading psychology and what type of role that can play in their methodologies.

While I appreciate their explanation, I do take issue with the claim that this service uses a team of over 50 market analysts. I believe that the developers of this service are trying to make traders believe that it is larger and more popular than it really is. The main video on the second page of the website was uploaded to YouTube on June 14, 2016. In over a year, this video has only seen 181 views. With this being the main video on their website, it’s quite clear to me that there is no way they could afford over 50 analysts. When your main video has 181 views, you probably only have 5 to 10 clients if you are converting at a rate higher than anyone else in the market.

I also don’t understand why there is a stock ticker the top of the webpage for assets the Signal Skyline service doesn’t provide signals for.

Breakdown

• Type: Forex Signals
• Price: $99-$270
• Strategy: Technical/Fundamental Analysis
• Timeframe: Any
• Pairs: Any

The signal service can be purchased at $99 a month, or $270 for 3 months. There is also a 7 day trial that goes for $7. The only difference between the standard plan, and the platinum plan is that the platinum plan comes with a 30 day moneyback guarantee. Whereas, the standard plan at $99 per month has no guarantee at all.

Trading Results

Despite being in the market for over a year, Signal Skyline does not have any record of their trading history. They claim to provide 120 to 140 signals every month, so I’m really not sure why they don’t have a record of any of these trades.

The creators of the service could easily marked down every single signal that they send, and provide us with some sort of historical analysis that we could use to decipher the viability of the service. Without this information, I don’t see what compels anyone to sign up.

Update

It’s been a couple years since we’ve updated the Signal Skyline, and a few things have changed. They now offer a 7 day trial for $7, and added an “enterprise trader” plan for $757 per month made for full time traders. This is the most expensive signal plan we’ve ever seen, and really don’t see the value in something this costly unless you have a million dollar account.

Another change, is the fact that the vendor is now providing performance reports. These reports show the pips per month for all of the major pairs that they provide signals for. Each pair is showing major gains of thousands of pips on a yearly basis, which seems too good to be true.

The issue with the results presented, is that they aren’t verified by any third party. Essentially, the developer of the service can plug any number they want into their performance page, and it looks like that’s what they are doing. We appreciate that they are trying to be more transparent, but to be a best Forex signal provider, they need actual verified trading results.

It’s also worth noting that the results being provided are a full year behind.

Conclusion

The Signal Skyline review isn’t all bad. It actually started very well, with in-depth explanations as to how the market analysts pick out trading opportunities for their clients. Yet, there are also some problems. I believe that the developer is being deceitful about how many market analysts are actually part of their team, and they are really lacking in the area of trading results, which is of the utmost importance to me and the readers here at Forex Robot Nation.

If you have anything you would like to add to the review, please do so now.