Signals Review: Forex Specs (forexspecs.com)

Forex Specs is a signal service, with a 200 pip monthly guarantee “with high success rate and big reward ratios.” The creator of the service, Vasil Burlyanov believes that skill and confidence are the key aspects in turning a failed trader, into a successful one. Today we will provide a full review, and let you know if these signals are truly as effective as they are marketed to be.

According to the sales page, the service launched in 2013. This aligns with the WHOIS data, but for a service that’s supposedly been around for 6 years, they have little to no reputation in the Forex marketplace. There were a few reviews on Trustpilot in 2014, and then a couple blog posts in the last three days, which is certainly odd. All logical signs point to this service just being launched within the past few weeks.

The signal provider is Vasil Burlyanov, a trader located in Bulgaria. He’s been trading since 2008 and believes that the concept of minimalism is vital to his success, and his service. In order to get in touch with support, traders can email support@forexspecs.com or phone +359 882 243 249.

Forex Specs Review

The Forex Specs website is aesthetically pleasing, and comes across as quite professional. They provide separate pages for their history, frequently asked questions, performance, features, testimonials and pricing.

They also claim to provide a weekly video analysis where they show you real time trade setups. Though, when you click on the video, It’s from February 7th, 2018, and there are no newer videos on the YouTube channel either.

It seems as though the video analysis promise, was a failed concept. It gives the appearance that the signal service isn’t very active either, which doesn’t make it seem like a best Forex signal contender.

Strategy

In terms of strategy, the Forex Specs team breaks down their service into four essential elements. The entry point price, the take profit price, the stop loss price and the signal update which is on the fly changes to active signals.

The vendor believes that these elements, combined with signal preconditions, the weight of the signal and duration of a signal makes their service stand out from their competitors.

While these explanations are interesting, and the images are flashy, they lack any real substance. The bottom line here, is that we don’t really know the signal methodology. This information should be updated, as the vendor does seem to have a fair amount of Forex knowledge.

The service also includes education and training. Which is made up of trading psychology tricks, trading techniques, strategies, education tips and trading videos.

Signal Analysis

• Type: Forex Signals
• Price: $60-120 per month
• Strategy: Undisclosed
• Signal Frequency: 18-31 trades per month
• Pairs: Undisclosed

There are three plans available for traders looking to sign up with the Forex Specs signal service. The essential plan, the professional plan and the premium plan.

The essential plan goes for $120 per month and promises a monthly guarantee of 200 pips. This plan offers just about everything the other packages do except for strategy preconditions, medium term signals, crypto signals and the weekly market outlook video.

The professional plan goes for $90 per month, billed on a 3 month cycle, and promises 500 pips guaranteed per quarter. This plan comes with everything, except for the medium term signals, which can only be found in the premium plan.

The premium plan is billed annually and costs $60 per month. This plan comes with a guarantee of 2000 pips per year, and every single feature available including the medium term signals.

All in all, the plans are quite expensive compared to their competitors, as you can see in our recent reviews of Pipster FX and I Trade Aims.

Trading Results

The Forex Specs performance page does not meet our standards. On this page they promise a 77% success rate, 1320 monthly pips, 65 pips per trade and a reward ratio of 2.45. These are excellent numbers, but none of them are verified or proven in any way.

There are eight boxes with “real trading results,” and you are supposed to be able to click on the box to see the results, but clicking has no result. So, there are essentially no results, and if there are, they aren’t working properly.

Conclusion

The Forex Specs website is impressive. It’s laid out professionally, and really comes across well. Yet, the service has accrued almost no popularity in its years of service, and they have no results to show us. They need to resolve these issues before we can take them seriously.

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