Signals Review: JKonFX

Today I’m reviewing a signal service that provides market insights and trade ideas directly from a professional trader, Joel Kruger’s JKonFX. Unlike most other signal services, this one provides traders with much more insight into the trading approach, and build up of each trade. Joel wants to help traders win, but at the same time help them grow to become better traders. He wants his service to be both transparent and educational.

Announcement: it has come to our attention that Joel has suspended his Forex signal service. The suspension started on August 16th, and will continue until at least the end of 2019. He claims that there have been “various developments in his personal life” that have led to the decision. We hope all is well with Joel, and that he returns to the Forex community when the time is right for him. His service was listed in our best Forex signals page, so he will be missed.

Owned and operated by Joel Kruger, this trader has over 13 years of trading experience and 21,000 Twitter followers. The service comes across as a one-man operation, so there is no address for the head offices, because Joel is likely working out of a head office. In order to get in touch with support, traders can fill out a contact form located on the main website.

JKonFX Review

The JKonFX services built on 6 fundamentals, that are meant to help traders improve their trading strategy. The 6 are comprised of technical analysis, fundamental analysis, dashboard analysis, bank reports, trader psychology and the trade journal.

For technical analysis, Joel provides traders “a daily video with technical insights and trading strategy for markets on the move.” When it comes to fundamental analysis, he lets traders know what fundamental drivers are currently impacting market direction. For dashboard analysis, Joel looks at the average daily range, and the currency strength index to ensure the accuracy of potential trade setups.

The 4th fundamental aspect is the bank reports, which Joel curates daily so that his clients are aware of what the larger market players are thinking. For trader psychology, Joel teaches traders how to be more positive, and lead into trades expecting to win. The last fundamental, is the trade journal, which is a report showing trading results from 2014 to 2018. I’ll be analyzing these much further in the trading results section of this review.

Unlike most signal services, this service is focused more on education, than trade alerts, which is unlike my recent reviews of Trends2Trade, Arrow Pips and Signal2Forex.

Breakdown

• Type: Forex Signals / Education
• Price: $30-$45/month
• Strategy: Technical Analysis / Fundamental Analysis
• Timeframe: All Timeframes
• Pairs: Undisclosed

There are 2 monthly options available for traders looking to utilize the JKonFX service. The first package is the pro-researcher, which goes for $30 per month and provides traders with 5 weekly technical analysis, 5 weekly fundamental analysis, one weekly market mover report and 10 daily bank reports. Despite going through the sales page, I’m not hundred percent sure what Joel means when he’s referring to the technical analysis and fundamental analysis reports. I’m not sure if these are trade setups, signals, or just market insights. I’m leaning to the latter.

The 2nd monthly option is the pro-trader, which provides everything the researcher account provides, +3 trade finder dashboards, party customer support, trade journal history and instant trade alerts via telegram or email. This account leads me to believe that the first account type doesn’t provide signals at all, because the instant trade alerts option is only available with the pro-trader account, which goes for $45 per month.

Trading Results (JKonFX Trade Journal)

On the front page of the JKonFX website, we are given access to Jules trade journal, which he claims is the “pillar of success in transparency.” According to this section, the members area journal comes with a line by line overview of positions including stop losses, a snapshot summary with the position overview, as well as personal notes on each trade from Joel. While this sounds well and good, I would much rather see this information up front, before I have to purchase my membership.

The numbers being provided aren’t very aggressive, so I’m of the opinion that these results are realistic. According to the sales page, the Journal performance in 2018 is at +1.72%, which means they’ve had a small gain through 8 months. Last year, the journal actually lost -1.57%, so Joel really doesn’t come across as the marketing type, which is good from a trader that’s holding himself accountable and trying to educate the community.

I still believe that these results should be uploaded to a Myfxbook account for greater transparency, but I don’t have an inkling that Joel is fabricating any of these numbers.

Conclusion

While the performance hasn’t been very impressive over the past 2 years, I do appreciate the educational approach and obvious transparency being provided by the JKonFX service. In going through this website, and analyzing other sources of information, I believe that Joel is an honest trader that wants to help the community by spreading his knowledge to the public.

If you have anything you would like to add to this review, please leave your comments and experiences below the article now.