Forex Signals Club is a signal service that promises even “beginners can trade profitably without years of experience.” They make aggressive claims, like their promise to earn 426 pips per month, but we don’t feel this is realistic. In today’s review we will go through their entire presentation, analyze their statistics, and let you know if this $97/month signal service is worth your hard earned money.
The service first launched in 2007 by Lars Henriksen, and his partner Joshua. The met at an unknown international trading convention, and decided to start a “private trading venture.” Since that time, they’ve decided to make their service available to the public as it is now. There is no head office location provided, likely because each trader is working from home.
In order to get in touch with support, traders can email email@example.com.
Forex Signals Club Review
The Forex Signals Club team want to help the average trader earn more pips in the Forex market. They feel their long term experience can help traders diversify their portfolios and begin to profit on all available Forex pairs.
There are 6 reasons why they feel their service excels above the other best Forex signal providers in this market.
- All signals can be automatically copied to the trader’s account.
- The promise of profitable trades.
- World class quality and support.
- The service is easy to use and doesn’t require any manual trading or paying extra for a Forex VPS.
- Signals are provided on all Forex pairs to ensure trades are always available, no matter the market condition.
- They claim that it’s a limited offer, though this doesn’t make much sense considering the service has been around for many years.
The Forex Signals Club team doesn’t get into great detail about their methodology, but they do provide a handful of rules that they follow. This gives a little insight into the type of traders they are, but still leaves a fair amount to the imagination.
In terms of risk, they believe that traders should never risk more than 2% of the total account equity on a single trade. This is their money management approach for their copy trading as well, which keeps the risk low. They also never trade around news releases, as these times offer extreme volatility with low liquidity. This is another way they look to avoid risk. Next, they tell us that they always place a stop loss. They don’t want trades running into huge deficits and are willing to take a loss when necessary, to avoid a greater evil. Lastly, they want traders to know that “demo trading is not for idiots.” They believe that demo trading is critical to success, and that every trader should start trading on demo to work out the kinks before using real money.
- Type: Signals
- Established: 2007
- Price: $97/month
- Strategy: Low risk trading
- Trading Time: Undisclosed
- Signal Frequency: Undisclosed
Traders interested in the Forex Signals Club service can sign up for a monthly fee of $97. With this price traders get the Forex signals, the “best support in the industry,” and the trade copier for automated trading.
The team does not make mention of the time signals are sent, and how often they are sent. These are two aspects of the service that any trader will want to know before signing up.
The Forex Signals Club website gives traders access to a Myfxbook account which they claim proves that their signals make an average of 426 pips per month. While this is accurate, and their trading account shows a 9.84% gain, there are obvious concerns that need to be addressed by the creators.
The Myfxbook account provided is from April 2016, to November 2017. There hasn’t been a single trade placed since 2017, which is a major issue. Seeing this makes us wonder if the service is still providing signals in 2020. In addition, even if they are in business still, we can’t imagine trader would be interested in a signal service that hasn’t been able to provide any trading results in over three years.
The vendor needs to fix their trading results immediately.
We appreciate the majority of the Forex Signals Club presentation. They give decent insight into their approach to the markets, but leave out a lot of important details. This lack of details in conjunction with their trading results that haven’t been updated in over 3 years certainly hurt their overall rating in this review.
If they want to be taken seriously, they need to make adjustments fast. Thanks for reading, and please leave your thoughts and experiences below the article now.
Forex Signals Club $97/month
Forex Signals Club is a signal service that provide trade alerts for all available pairs.
Signals on all pairs
No experience required
Results from 2017