NCM Signal Review (Trade Copying)

NCM Signal is a new Forex copy trading service promising to be transparent, reliable and stable, all leading to client success. They believe in providing a safe trading experience for their investors. This is an important line for them to take, as they have complete rights to “execute trades on your trading account.” They do not have any direct access to your funds though, which is a plus. Today, we will be providing a review and letting the Forex Robot Nation readers understand the pluses and minuses of this copy trading signal service.

Despite making mention of transparency a handful of times throughout the website, they aren’t transparent about their company. They do not introduce us to their team, nor do they provide an address for their corporate headquarters. Due to this lack of detail, we are unable to research any of their trade analysts, making it difficult to know if they have ample experience in the Forex market. This is information that should be provided by the vendor, to increase the confidence we have in their service. According to our WHOIS search, we can see that their server is located in Amsterdam, so they are likely located in this region as well.

To get in touch with support traders can use the live chat function at the bottom right side of their website. There doesn’t seem to be any contact form, email address or phone number at this time.

NCM Signal Review

The NCM Signal website provides a thorough FAQ, testimonials, strategy details, and live trading results. The presentation is professional, and provides a straight forward explanation of what they are offering.

It is not a normal signal service, in that trader’s don’t receive a signal, analyze it, and then place the trade themselves. Instead, it is more like a Forex robot, in that the trading process is completely automated. The analysts at NCM will look at the markets, place a trade in their master account, and then that trade is automatically copied to the trader accounts. This is exactly the same process used by our last Forex signal review of Waw Forex Signals. In that review, you can actually find an image showing exactly how this works.

The front page provides a profit calculator, where they estimate the profit each client can achieve based on the initial investment, period of use and risk. In the default example, they show a $25,000 initial investment earning over $6600 in profit with a risk of 100%. These calculators are common sales tactics, but they are based on past performance results so we never really take them too seriously.

Trading Strategy

As it stands, the NCM Signal team rely mostly on “a combination of 3 EAs and manual supervision.” So, they use robots to analyze the markets, and place the trades, while intervening when they feel it’s necessary. There is a personal touch, but for the most part expert advisors are doing the majority of the heavy lifting.

The first expert advisor they utilize opens positions based on the market direction. The other expert advisors manage the trades, and use a “light grid-martingale” strategy. We definitely don’t like seeing martingale at any point when dealing with any system, as we’ve been burned by this Forex trading strategy in the past. Martingale and grid strategies often lead to blown accounts if not used properly. Luckily, they do manually intervene and watch the trades, which should help mitigate that risk significantly.

They discuss this further in sections about controlling risk and protecting capital with maximum drawdown numbers and money management.

NCM Signal Analysis

• Type: Forex Signals
• Price: $39-79/month
• Strategy: Light grid-martingale
• Founded: 2019
• Signal Frequency: 4-8/week
• Pairs: GBPCAD
• Signal Time: Any Time

The NCM Signal service price point is affordable at $39/month. At this price traders get access to the copy trading service, with the ability to set a risk value for the software to trade. The service costs $79/month if the client wants to use an existing IC Markets account, and $39/month if the client open a new IC Markets account.

The copy trading service is not available with any other brokers at this time. So, if you cannot access IC Markets, then you are unable to use these signals.

Trading Results

There is a single NCM Signal “conservative” Myfxbook trading account provided by the vendors. This account started in February 2018, and has placed 1006 trades in the two years it’s been running. The gain is at 338.6%, and drawdown at 12%, which are steady numbers that account to a monthly gain of 4.54%. There doesn’t seem to be any degradation of performance in recent times either, with 2020 keeping in line with past performance numbers..

To analyze further, we can see that the average trade length is 4 hours and 20 minutes, which is a big plus for weed smokers. Pardon the pun, the risk reward ratio is approximately 1:2.6 with the average win coming in at 11.52 pips, and the average loss at -27.60 pips. This is an effective risk reward ratio.

From what we see, these results are impressive. We hope that we can see some client results verifying this performance as well.

Conclusion

We like what we see for the most part from the NCM Signal service. Generally, we don’t find ourselves very interested in copy trading as it’s just so close to Forex robot trading, and we would rather have that extra control. Though, for clients that are looking for something a bit more hands-off than robots, this is an interesting service.