Signals Review: Forex Elite Signals
Welcome to the Forex Elite Signals review. This is forex signals service leading by Mr. Iskander. He claims to have an expert team of 5 professional traders with a minimum of 5 years of experience in the financial market.
Their expert team believes that they are providing the best forex signal service in the market that will help any retail forex traders becoming financially free.
They don’t have any website and there providing their full service at the telegram channel, according to channel history the channel was created on 24th May 2019. So it’s been only a bit more than a year.
Forex Elite Signals is providing free and paid Forex trading signals.
Every day they disclose 1 free signals in the free Telegram channel.
Each forex signals contain Entry point, 2TP & 1 SL point.
Keeping up to date about running positions and giving small updates about the market.
However, in this review, we will let you know whether it’s worth paying money to remain a subscriber of Forex Elite Signals.
Forex Elite Signals Review
This vendor wants to sell their services by tempting people, showing pictures of their luxurious lifestyle just to prove that their service really pays. They don’t even disclose their identity, so you can’t recognize them if they are real people behind this service, or they just pick some random pictures from online.
He tells his stories of how he first started Forex and lost his all investments and how he later became a profitable trader.
His story is very common in forex space. Because if you search on google or youtube, what is forex trading? then you will see that there are many videos available online where people are showing their luxurious lifestyle, making videos while driving an expensive car and teaching about forex, they just want to show how happy they are! to encourage people in forex trading, and sell their services.
They are not showing any verified results.
Instead of verified results, they are sharing profits screenshots and mobile screen recorded videos.
Every time a new member joined to his paid channel, he shares the screenshot in the free channel. His channel is full of member subscribed screenshots. We feel that is really unnecessary, they just do it inspire other members. After all, it’s their service. Who are we to judge their marketing strategy.
Its free channel has 2700 subscribers and its VIP channel has 630 subscribers!
If you calculate the ratio of the free and paid subscribers, you can see that the ratio is 4.2 : 1. Which means in every 4.2 subscribers 1 is a person is a paid subscriber. This is a very unrealistic number compared to other channels.
The reason behind having so high paid subscribers could be its pricing. Because their lifetime membership is only $60. But without any verified results it’s not worth any price.
This signal service provider did not introduce himself or his team members, This service is completely mysterious.
We believe that introducing with market analysts and traders would have gone a notch higher in creating an environment of trust between them and their clients.
They are providing 1 free signals every day, so traders can try their free signals first.
They are giving short-term signals, so traders looking for long term trading opportunities will feel disappointed.
At this point, we would need to look at Forex Elite Signals pricing, what we’re getting, and whether or not this signal provider can show us their trading results.
Forex Robot (EA)
He also sells forex robot trading services, but he does not share his robot’s previous results. Does not show any third-party results.
There are not statements of their robot’s previous records. No details about the risk ratio or when this robot executes trades, what is the strategy behind it.
We will not encourage you to buy their trading robot.
Forex Elite Signals – Results:
Forex Elite Signals doesn’t provide any verified results. Instead of verified results, they publish profit screenshots and screen recorded videos to convince traders that their service really pays. But only screenshots and videos do not just count.
Each signal comes with 1 entry point, 1 stop-loss, and 2 take-profit points. But when they publish their weekly report they count two take profits, but stop-loss count only once, this is how they hide losses.
So that the accuracy of the signal will be the same but the profitability will be lower.
It becomes quite difficult for us to verify the alleged trading results, that is why we always insist that signal vendors must use a statement sharing services like myfxbook.com or fxblue.com.
It makes our work easier when it comes to analyzing the figures they are showcasing to persuade traders and the trends of their trading account.
There are 3 signal packages offered by Forex Elite Signals.
- Type: Forex Signals
- Price: $60 Lifetime
- Signal Frequency: 7-10/day
- Target: 3000 0pips/month (Not Verified)
- Accuracy: 90% winning rate (Not Verified)
Forex Elite Signals pricing is very weird, they offer four types of VIP subscription packages.
Which charges $35 per month and $99 for six months and $175 for one year. But lifetime membership is only $60! Which makes no sense.
If you like their service please consider testing their free signals at your demo account at least for 1 month since they are not providing verified results.
There is no similarity between his words and deeds. He only wants to make a profit by selling his services to new traders. They are trying to persuade traders to buy their services by showing their huge profits.
Just sharing unverified results history and screenshot are not gonna prove them a verified signals provider.
However, Forex Elite Signals would have avoided this situation very easily if they provided their myfxbook profile for our verification.
If you like their signals service we will recommend you use their free signals at your demo account first, as this signals provider doesn’t provide any verified results.
Thanks for reading FOREX ELITE SIGNALS review. Let’s see what the community has to say in the comment section.
- Free Signals
- Keep updated about positons
- No verified results
- No info about team members
- Show off to persuade traders
- Hiding Losses