Today I’m analyzing an older Forex signal service that believe they can enhance your trading experience with their Pro guidance, Forex Signalz. Two trade alerts per week are provided directly to the traders cell phone via SMS, for all of the major currency pairs, EURUSD, USDJPY, GBPUSD and USDCHF.
The creator of this service is Alp Kocak, a Forex trader and contributors to FX Academy. He is located in the United Kingdom, and it’s quite clear that he has a lot of experience in the Forex marketplace. According to the sales page, Alp has been trading Forex since 2003, using “technical analysis based on Japanese candlesticks and Ichimoku Kinko Hyo.” His strategy is focused heavily on exploiting early changes in the trend, and using strict principles in order to secure a high win rate.
Forex Signalz Review
The Forex Signalz service provides traders with the trade entry price, trade exit price and stoploss points all in real time. They feel that they are different from their competitors, because they are able to react to changing market conditions better, and provide their services 24 hours a day, “so no matter what time zone you live in, there are signals for you.”
As for the strategy, it’s not 100% clear what methodology is being used, because we are only introduced to one of the traders that contribute signals. We already discussed his approach a little bit in the introduction to the review, pointing out that he always wants to minimize drawdown and maximize profitability. He believes the clients should never have to “sit tight through severe losing streaks.”
Obviously, I would like much more information from the developers about this service, but they have a very simple sales page, which is in line with many of my most recent reviews of signal providers, Pips Make, ForexGDP and Smart FX Trader.
- Type: Forex Signals
- Price: $69-89/month
- Strategy: Technical Analysis
- Timeframe: All Timeframes
- Pairs: EURUSD, USDJPY, GBPUSD and USDCHF
Traders can choose between 3 different options to gain access to the Forex Signalz service. The first option is to sign up for half a year which comes with a 22% discount and a monthly charge of $69. The 2nd option comes is to sign up for 3 months, which comes with a 16% discount and a monthly charge of $74.99. The 3rd option costs $89 per month, with no long-term commitment.
There is also the option to test the signals on a 14 day trial account for one dollar. I would certainly lean to this option at first, considering that the signal service is quite expensive on a monthly basis.
There really isn’t much in terms of client feedback online. There are a couple of reviews done by review websites, and a handful of comments from 2014, but nothing recent or concrete.
Forex Signalz Performance
The vendor provides us with a performance page, which includes a table that shows us the month, the year and the percentage gain for that period of time. Based on the low numbers, with the last 7 months combine totaling a 0% gain, I do believe that these results are transparent even though they are not verified by any statement sharing service.
Yet, the last month they reported their performance was in April 2015. It’s been over 3 years since the creators of Forex Signalz updated their results page. This is a glaring issue, and leads me to believe that they are no longer interested in offering their services.
Results are very important, so when they are not updated for such an extended period of time, it shows a major lack of interest from the vendor.
At this point in time, I see no reason recommending the Forex Signalz service to the Forex Robot Nation community. While the website comes across as professional for the most part, there is very little information about their trading approach, and their trading results section hasn’t been updated in over 3 years. This service doesn’t seem to be active in 2018, and for this reason, I will be providing a lower rating than usual.
If there’s anything you would like to add to this review, please leave your comments and remarks below the article now.