We have reached the end of our three month trial of ForexSignal.com and here are the final results:-
| Profit/loss: | +42 pips* |
| Trade Success Rate: | 67% |
| Bank Growth: | 4.2% |
| Cost: | $69/month or $99/month with trade copier |
| Average number of trades: | 3 per week |
| VERDICT: | NEUTRAL |
| Rating: | 2.5 out of 5.0 stars |
You can view full results here.
* please note these results are using the TP2 profit target
ForexSignal.com – Full Review
Forexsignal.com is a long-running service, having been going since 2000 and having made good profits over the years according to their website.
It should not be confused with the similarly-named forexsignals.com (plural), which is an entirely different service.
Forexsignal.com trade across a range of pairs including EUR/JPY, GBP/USD, EUR/USD, USD/CHF, NZDUSD and a number of others.
They monitor the forex markets 24/7 and send out an alert both by text and email when they identify a trade opportunity. The alerts come at different times of day, anything from 4 in the morning (UK time) to midday and later. Most are early in the morning however.
There is also a PRO subscription that allows you to replicate the trades on a trade copier, making it much easier to follow the service. That is an extra $30 per month.
Each signal comes with the three profit targets, TP1 (25 pips away), TP2 (35 pips away) and TP3 (70 pips away). The stop loss is always set 60 pips away. For the purposes of this review we recorded results using the TP2 target.
It is worth noting that quite a few of the signals are orders rather than immediate trades and some won’t be filled for a day or two – indeed one from a few weeks ago still hadn’t been filled at the time of writing.
We followed the signals for three months and in that time there were 39 signals given. The success rate of the signals using the TP2 target was 67% and the total profit was 42 pips at the end of our trial.
Whilst that isn’t too bad and one should never complain about a profit, it isn’t anything to write home about either so we think a NEUTRAL rating is fair in this instance.
Service Breakdown
Ease of use: There are around 3 signals per week on average which makes it a pretty easy service to follow. As mentioned above, the signals can come in at any time of day or night though so it can be tricky to execute them all straight away. If you are concerned about this there is a trade copier service you can use for an extra $30 per month.
Transparency of results: Although they use three take profit targets (which can be method of services to manipulate their results), in this case they present the results for each TP on their website (if you click entry and exit point trades), which is good to see.
Did our results match those on their website? For the most part, yes – apart from a couple of recent losing trades.
Trade success rate: The success rate for the trial was 67% which sounds okay in itself but with the TP2 being just 35 pips away and the stop loss 60 pips, you would expect a high success rate.
Subscription costs: The subscription costs are reasonable at $69/month or $99/month with a trade copier.
OVERALL VERDICT: NEUTRAL 2.5 out of 5.0 stars
ForexSignal.com is a long-running forex service and is simple to use with around 3 signals per week on average sent out by text and email.
We ran a three month trial of the service and in that time made 42 pips profit, which isn’t bad but once subscription costs are taken into account wouldn’t leave you with much left over, so for us it’s a NEUTRAL rating for this one.
ForexSignal.com – Results Update
29th May 2020
There’s been an improvement for ForexSignal.com recently, with a profit of 170 pips since our last update a month ago.
That means they are now 47 pips up for our trial overall.
You can view full results here.
Just a reminder that the signals come with three profit targets, so for the purposes of our results we are using the second target, TP2.
There is still one trade open and one order that hasn’t been opened yet on the USD/CHF.
Good to see the recent improvement here, let’s see if it continues.
ForexSignal.com – Results Update
25th May 2020
There’s been a bit of a downturn in our trial of ForexSignal.com, with a loss of 110 pips since our last update a couple of weeks ago.
That means they are now 123 pips down for our trial overall.
You can view full results here.
Just a reminder that the signals come with three profit targets, so for the purposes of our results we are using the second target, TP2.
Let’s see if they can get things turned around and moving in the right direction by the time of our next update.
ForexSignal.com – Results Update
11th May 2020
It’s been a quiet start to our trial of ForexSignal.com, with a small loss of just 13 pips so far after just under a month of our trial.
You can view full results here.
The signals come with three profit targets, so for the purposes of our results we are using the second target, TP2. This seems a fair midpoint to judge the signals on, although obviously your results could differ a little if using the other TPs.
There are generally 3-5 signals per week, making it a very manageable service to follow.
Let’s see if they can get things going and move things into profit for our trial by the time of our next update.
ForexSignal.com – New Review
15th April 2020
Today we are starting a new trial of a forex signals service with the rather appropriate name of Forexsignal.com.
This shouldn’t be confused with the similarly-named forexsignals.com (plural), which is an entirely different service.
Forexsignal.com is a long-running service, having been going since 2000 and having made good profits over the years according to their website.
They trade across a range of pairs including EUR/JPY, GBP/USD, EUR/USD, USD/CHF, NZDUSD and a number of others.
They monitor the forex markets 24/7 and when they identify a trade opportunity they provide an alert with an entry level, stop loss and take profit targets.
There is also a PRO subscription that allows you to replicate the trades on a trade copier, making it much easier to follow the service.
Other features available include a trend trader and mentoring but we will be focusing on their forex signals as they will provide us with verifiable results.
Judging by the results published on their website their profits seem fairly consistent so let’s hope that proves to be the case during our review.
We will publish regular updates here on how things are going.
In the meantime you can check out Forexsignal.com for yourself here.
The contents of this website are intended for educational and information purposes only and do not constitute any form of advice or recommendation and are not intended to be relied upon by you in making (or refraining to make) any specific investment or other decisions. Appropriate expert independent advice should be obtained before making any such decision. We cannot and do not offer individual investment advice.
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