Estimated reading time: 6 minutes
Today, we will be providing an honest review and opinion about FX Alerts, a UK-based company that claims the title of the leading signal provider in the Forex marketplace. This company believes that they will get you on the fast track to success the day you sign up for their service.
FX-Alerts.co.uk is definitely worth reviewing because we have seen a few client testimonials giving a very bad impression about the service.
When we checked their background details, we discovered that FX Alerts is an entity owned and managed by Phoenix Finance Group Ltd. The company is registered with the number 9990773. Their physical address is 29 Fenton Road, Chafford Hundred,Grays, ESSRM16 6EP, United Kingdom.
You might have looked for this information on the website and failed to find it there. That’s because this information was not published on the sales page of this company. But it is on who.is.
We can say that this is a good sign for a start. Most companies dealing in this line of business will simply keep their details private.
So, does this mean that FX Alerts is truly a leading market specialist in the UK as stated on their website? You’ve got to find out in this review:
For the best trading systems, look here.
The first thing that you will notice when you land on the sales page is that they are offering a free 30 day trial. The website claims that they have a worldwide customer base which is always relying on their effort and skill to analyze charts and study news events. This is supposed to ensure that all clients who register with FX Alerts are always making money since the win rate for these signals is 81.6%.
The company claims that when you sign up with them, they will send you daily signals without fail. There are at least 10 signals to be received each day.
All signals are sent out to their clients between 09:00am & 12:00pm, Mon-Fri. These signals are supposed to be delivered through email and Whatsapp (whichever is convenient for you).
Going back to the homepage of the FX Alerts website, we notice a couple of pictures which supposedly represent their active customers.
It is hard to verify the authenticity of these testimonials. That’s because FX Alerts is probably using stock photos and editing their own testimonials to give the impression that their clients are really happy with the service. This might actually be far from the truth as we are used to dealing with evidence as opposed to claims.
The win rate for this signal provider is extremely high to start with. We are yet to see proof that this provider is actually sending out signals that will turn out profitable most of the time — according to that win rate.
But it is also disturbing that FX Alerts is doing nothing to legitimize these claims. This is especially true with many signal providers who don’t trade their signals. These vendors never see the need to open a live trading account, and thus no account statement will ever be produced if you ask for one.
For us to get to understand what is happening here, we will need to provide a detailed review of how things work here.
So far, we can see that there is a 30 day free trial in place. All traders definitely begin testing this service here. Of course this is a no brainer. You can’t subscribe right away when a signal vendor is offering a free 30 day trial. It makes sense to test their signals first before deciding whether shelling some amount of money on that service is worth it.
But there is a catch. If you have to test this service, you will have to trade with one of their recommended Forex brokers.
That’s something you will want to think twice about because it is really a huge trade off. You see, FX Alerts will have nothing to lose when you take the free 30 day trial offer. The cost of your subscription is factored into the spreads of the broker you are trading with. Consequently, this would push the cost of your trading higher, thus denying you a competitive edge in the process.
Besides, if their signals turn out to be poor, i.e. not ”beating” the markets 81% of the time, then it means you will have tested and lost your trading capital to a company that initially over-promised and never delivered. We are hoping that this will not be the case. But it is still a reality to live with when testing their service anyway.
FX Alerts is offering 3 different plans which they claim will suit the needs of every trader. The first plan is obviously free to subscribe to. It lasts for 1 month.
The second plan costs £299, and it lasts 3 months. The third plan costs $399, and is ideal for those who want to remain subscribed for 6 months. According to FX Alerts, this plan is ideal for those who are looking to take advantage of their signals in the long term.
Alongside this, we are also supposed to get free online education webinars and eBook. Customer support is guaranteed 24/7.
That’s nice theoretically. But does it mean that this company will be fulfilling these promises? Well, to find out the answer, we would need to check what customers are saying about this service elsewhere. It has been around long enough to at least acquire a couple of user feedback. We will be getting to this shortly.
When you come across any signal provider preaching how good they are at providing signals that work, confirm if they have an active, verified myfxbook account. If they don’t have one, skip to the next provider please.
That is exactly the same thing we have done today. FX Alerts is run and managed by people who think that a free 30 day trial is supposed to take the place of a verified myfxbook account. That will never happen.
We mentioned earlier on that user feedback was very important. It tells us whether or not we should carry on with our plans to subscribe.
The best thing you can ever do to yourself is to learn from the mistakes of others.
If one particular customer review about this service is anything to go by, then we may become extremely fearful of dealing with a service like FX Alerts.
This particular customer claimed that this company was not helpful at all (which confirms that the alleged 24/7 customer support is just a narrative). They also claimed that they didn’t make any money with this service. Again, this is a confirmation that the alleged win rate of 81% is a hoax. We have provided a screenshot above for your consumption. Have fun in analyzing what that particular customer said.
By now, you should know that we never endorse trading systems or signal providers who don’t keep proof of their trading performance.
We are therefore being forced to kick FX Alerts out of the window because there is no way we can trust their claims. We would rather see them offering a 1 day free access to their signals using a Forex broker of your choice. We would rather have a clean, verified, myfxbook account to look at before making a conclusion as to whether or not this is scam. We are sorry.
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