Signals Review: Dux Forex

Dux Forex is a Forex signals service promising an accuracy rate of 98% for only $5 a month. A guarantee of this nature has to be false, and while it’s important not to judge vendors on the first impression, it’s increasingly difficult to avoid that in cases like these. Regardless, in this review we will provide a full analysis of their trading signals, and so-called “world-class Forex traders.”

The service is located at New Port, Cardiff, CF23 9AR, United Kingdom. They claim to have been established in 2002, but the website was only first registered in 2014, so there is a 12 year gap that isn’t accounted for. It’s likely the developers are exaggerating when it comes to the date their company was established in order to seem more legitimate. In order to get in touch with support, traders can email support@duxforex.com or fill out a contact form at the bottom of their webpage.

Dux Forex Review

The Dux Forex signal service claims to be serving over 40,000 traders around the world, which comes across as another exaggeration by the vendor. There is some discussion around the product, which I will get to later, but not enough activity that would warrant to a company with over 40,000 clients.

The signals are sent to clients via email, mobile alerts or their easy to access web platform. With each trade, the alert will include the pair, the direction, the entry price, the stop loss and 3 separate take profit levels, so that the client can decide if they want to trade to run on longer and increase their risk in doing so. Providing 3 take profit levels is certainly a benefit of this service, and something that should be more commonplace in the Forex signal market.

In terms of strategy, the market analysts “use price action, correlation, reversals, volume, candlestick patterns and economic news when analyzing the Forex market.” They do not rely on any indicators, and find that their best opportunities come from relying on the manual trading talents of their signal providers. There is no real in-depth strategy insight, just this generic outline which claims they use multiple different strategies and trading approaches. The lack of strategy insight, is common in this market as our recent reviews of FX Hubs, Forex Lens and Pattern Sniper make glaringly apparent.

Breakdown

• Type: Forex signals
• Price: $4.99/month
• Strategy: Multiple strategies
• Signal Frequency: 1 per day
• Trading Results: Video
• Pairs: GBP/USD, USD/CAD, EUR/USD, GBP/JPY, AUD/USD

The best thing about the Dux Forex signal service thus far, is their price point. At $4.99 per month, it’s easy to stomach of multi-month test of this product, because the price is significantly lower than any of the comparables. The vendor also offers a one year plan at $47, and a three-year plan at $112. Obviously, you should test the Forex signal service on the monthly plan for a few months before you decide to sign up long-term.

Performance Reports

The most important area of any review is the trading results. Sadly, Dux Forex does a poor job at providing transparent, verified performance reports. There is no area on their website dedicated to keeping track of how their signals have been performing in the markets. There isn’t even a single trading statement, so in this area the vendor is certainly well behind the rest of the community, which is why they are probably charging so little for their service.

The only results they do provide, comes in the form of daily Forex profit performance videos. Yet, these videos are far from impressive as they don’t even show the trade. The video consists of a date, the pair they traded, and the result in pips. These videos are sporadically updated, and it’s been over 2 weeks since their last result posting, the which is also concerning.

Client Feedback

In going through some forums, I found both positive and negative reviews for the service. The review I agree with most, is one that questions why the vendor isn’t keeping track of their trading results. You can see this review below.

Conclusion

The Dux Forex service is laid out professionally, and sold for measly $5 per month which makes it very appetizing. They also provide a good explanation of what traders can expect when they receive a trade. Yet, there is no information about who their trade analysts are, no strategic insight into the trading strategy and no performance results whatsoever. If you are interested in this service, you will certainly have to test it in order to see if it’s a viable. There is not enough information on the site that leads me to believe that the signal service is worth it, because there are no results.

If you have anything you would like to add to the review, please leave your contributions and remarks below the article now.