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Castlesfx.com Review: Is Castlesfx Scam?

Castlesfx.com Review: Is Castlesfx Scam?

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Castlesfx.com is the domain where an app for trading Forex and stocks is found. This app is available for both iOS and Android operating systems. According to the website, the developers behind this app had one goal in mind when creating this app. To provide precious as well as easy to read signals that can help traders grow their accounts. This app is owned and operated by a company called  CastlesFX Inc. located at1 Yonge Street, Suite 1801 Toronto, ON M5E 1W7 Canada. They have also provided a contact email on their website which traders can use to reach them if there is need to.

CastlesFX brand claims to have helped traders grow their account balances in the last 10 years. They claim that they have consistently achieved results for their traders. Their website states the following: “follow strict ethical guidelines to best serve our clients and their interests by aligning ourselves with our clients’ interests.”

This simply means that CastlesFX is not affiliated with any brokerage out there. As a result, there will be no conflict of interest between in their trading operation. They feel that remaining a neutral trading partner is the best way to serve the community and even believe that other service providers should follow suit. In as much as this app can be downloaded for free, there are in app purchases which require a monthly subscription to access.

Among the things that CastlesFX app comes with include commission free trading platform, instant trade alerts and an FX calculator. The FX calculator is designed to help traders with money management as it does calculate lot size. This also helps traders so that they can avoid over leveraging their trading accounts. On the other hand, their instant Forex trading alerts are provided directly on your phone together with the necessary details such as entry price, target price and stop loss. In as much as trading signal providers are common on the internet, most of them don’t use apps. So CastlesFX is definitely one of a kind when it comes to how they disseminate information to their audience. 

Having said this, we know that most of you would like to ask whether this app is worth it. In this review, we will be discussing the same issue as well. In the meantime, if you need more reliable trading products that will make you money consistently and in the long run, our advice is that you should use the apps on this page. 

CastlesFX review

The developer of this app does not shade light on what kind of trading strategy they are using. However, they give us a hint of the kind of approach which they adopt in the Forex market place. They claim that patience is a very important factor in as much as knowing what not to trade is as important as knowing what opportunities to take when they present themselves. This simply means that the team behind this app believes in quality as opposed to quantity. If you see this kind of explanation, you should not expect a lot of signals per day. But rather, you should expect one or two signals at most.

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CastlesFX

Even though they have a general approach to trading, we still believe that this is not enough. We need to know whether these traders are using price action or some kind of technical analysis method. We need this information upfront.

CastlesFX: breakdown of the type of service offered and the charges

There are 3 price points that traders will come across when subscribing to this signal service. They have a choice of 3 plans which they can pay $39/month, $69/month or $89/month. The difference between these plans is that one plan only focuses on Forex, while others focus on stocks exclusively or a mixture of both.

But you can also see that these traders are vague when it comes to describing how they trade. They do not reveal their trading strategy, what trading pairs they are focusing on and what frequency they are sending signals to their users.

Again, despite putting together a very clean and crisp website for selling signals, these people don’t even address the most important issue – trading performance. Trading performance is what most traders will look for before deciding to pay for signals. There is no way a trader can fork out a monthly subscription if they cannot see how the app has been performing over the last couple of months.

So this is clearly a set back. We believe that they are losing a lot of potential clients as a result of not providing these details. In our opinion, they should document the trading results for their signals so that anyone who is new to this website can easily see that indeed the app is worth the price for which they are selling the various plans for.

Is CastlesFX worth it?

We would be afraid to say that this app is worth it because after looking at it, we find the most important details missing on this website. We need some proof of work. We need to see some level of transparency on this app rather than claims that their app is profitable when we do not have the proof.

Is this a scam? We don’t think so, but we are 100% sure that you will most likely lose your money to these guys. The reason is simple. If the traders are not confident enough to document their work, we do not believe that they can produce the required results on a consistent basis. You will basically be gambling your money away which is not the wisest decision a Forex trader can make.

Our best advice for you

CastlesFX is a professional website in terms of aesthetics. It also comes across as having a lot of potential. However, we are requesting the team to be transparent with their signals trading results. They also need to describe their trading strategy in order to win the trust of visitors that come to their site. For that reason, these products win hands down.

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