XO Signals is a new service that works to develop signals “that are among the most accurate in the world.” They provide alerts for Forex, CFDs, commodities and cryptocurrencies. The service offers free signals, and also a premium VIP version which goes for $29/month. In analyzing the signals feed it’s apparent that the service is very difficult to use if you aren’t paying for it. The free version doesn’t work well, because it would be very hard to monitor and place the trade without any sort of notification.
The vendors aren’t very transparent about who they are, or where they are located. This is especially important when dealing with a signal service, as we always want to know who is sending us the signal. The developers tell us that they are “a group of mathematicians and big data specialists merged.” This does not provide any actual detail, or information about their trading history or reputation in the Forex markets. These are aspects that we hope they add to the website when they see our critique.
In order to get in touch with support, traders can email email@example.com.
XO Signals Review
While the XO Signals service is advertised as a free one, this is more of a tactic to pull in new clients, than it is a viable option. We don’t really take issue with this though, as it’s quite clear once you get on the website that you will have to upgrade your account to benefit from the signals completely.
There are three main features of the service that the vendor highlights on their front page. The live feed which provides updates on all the signals, the stock tips and the live chat which contains messages from over 300,000 users. This number does seem a bit high, and it really isn’t as active as you’d expect with messages coming in ever 5-10 minutes.
Will they qualify as a best Forex signal service? Stick around to find out.
The XO Signals team uses “software-generated technical analysis” to provide their trading signals. This means that they are essentially using a Forex robot to provide the trades.
The robot uses technical analysis, to “predict the variations of values within an economic system long before they appear in the marketplace.” The system also takes into account data mining, algo-trading and more.
This still isn’t a very detailed account of their actual methodology, and more of a brief overview. We understand all of the buzzwords they are using, but don’t really see how they all fit together in their explanation.
- Type: Signals
- Established: 2017
- Price: $29/month
- Strategy: Software generated technical analysis
- Trading Time: 24 hours
- Signal Frequency: Very frequent
For traders interested in signing up, the plans range from $29/month to $10/month based on the contract length. There is also a 1 year of free service for traders who sign up with their partnered broker Alvexo. All of the membership plans come with daily market signals, email signals, 1-on-1 sessions, SMS signals and complete mobile access.
It is very difficult to track the trading results of the XO Signals service. There are pages of active trades, and there is no verified account on Myfxbook or FX Blue to anlalyze. So, the vendor is in complete control of all their trading data. They don’t seem to make any outlandish claims about their results though, which is a good sign.
That being said, we would like to see verified trading results so we can truly analyze how well they’ve been doing for the past few years. Without a verified account, they are simply behind the marketplace. We have made the same observations of our recent reviews of Trade X Signals, FXStreet Signals and ForexSignals.cc.
We are impressed by some elements of the XO Signals service, but they are missing the most important aspects. They give very little detail about their trading strategy and have no verified results. In order to compete in this market with the largest signal providers available, both of these aspects need to be resolved.
Thanks for reading the review, and please leave a comment if you have anything you would like to add.