Today I’m looking at a service that promises traders free Forex signals for life, 123 Free Signals. A couple of my readers have recently emailed me asking that I take a closer look at this service, and determine whether or not it’s a viable investment opportunity. My initial thoughts are 2 very positive just by the look of the website, but I will get into a more in-depth analysis as we make our way through the review process.
Despite my efforts, I can’t seem to find any information on who the creators of this service are, or where they are located. When dealing with signal services, it’s extremely important to know who are providing the signals, and what type of experience they have in the marketplace. The last thing you want to do, is receive signals from someone who doesn’t have adequate trading knowledge. In order to get in touch with support, traders can email firstname.lastname@example.org.
123 Free Signals Review
The main sales pitch for the 123 Free Signals service is quite clear, they push the idea that traders can receive free signal access for the rest of their lives. Yet, upon entering the poorly put together website, it’s made apparent that this is not a free service. Instead, the creators of this signal service are using a common tactic used in the binary options market, where traders have to deposit money with the brokerage, in order to gain access to the service.
As far as I’m concerned, this is not free.
There are 3 options available for traders to access the signals. The first option requires a minimum deposit of $200 with EasyMarkets, or a $400 deposit with other brokers on their approved brokers list. The second option requires a $279 fee, and the third option requires the traders request to move their account to a different affiliate. None of these options are free, which is not a good look for the developer, because they are essentially telling us one thing, and doing something else.
- Type: Forex Signals
- Price: $279 / Broker Deposits
- Strategy: Undisclosed
- Timeframe: Any
- Pairs: Any
In the first section of the 123 Free Signals review, you can see that the main focus is on the price and payment process. The reason for this, is that’s essentially all the developers talk about on the front page of their website. In terms of price, I’m not happy that the developers are promising free signals and then asking for nearly $300. This just doesn’t add up.
Before getting into the trading results in too much depth, let’s quickly take a look at when the signals are sent, and in what form. Signals are sent via email and SMS at 8AM GMT. The signal includes stoploss, take profit and the entry price.
The developers claim that they generally put the stoploss around 40 pips, and the take profit around 100 pips. Throughout the week, traders can expect 3 to 5 signals. I much rather prefer utilizing a Forex EA, as it does the trades for you.
The developers claim that the 123 Free Signals service averages 10% profit per month, based on 2% risk. There is a link at the top of their results page the claims to provide third-party proof of their results, but it’s a very old post with just a few proclamations about numbers, and no actual proof.
It’s essentially the same thing on their results page, with images of transactions, and screenshots of Myfxbook accounts, but no actual account of their own.
The developers of this service would benefit greatly by placing all of their signals in a verified trading account somewhere, so they could actually prove the numbers that they are claiming. At this point in time, there is no real proof of anything.
Here are a couple of the most recent client reviews, so you can see how the community is reacting to the service.
At this point in time, I’m not willing to recommend 123 Free Signals to the Forex Robot Nation readers. There are a couple of issues I have with this service, the first being the fact that they advertise it as free, when it’s not, and the trading results are very underwhelming. It’s difficult for me to sign up with any service in 2017, that isn’t using basic statement sharing to prove their viability.
Thank you for stopping by, and please leave a comment if you have something you would like to add.