Golden Option Trading (goldenoptiontrading.com) is advertised as a VIP signal service and they claim that while 90% of traders fail, all their students are in the 10% category of successful traders. This is quite hard to believe and we actually have to look into this service in details to establish where the truth is. They claim that Golden Option Trading is providing an opportunity for traders to copy paste profits. It’s a catchy little tagline, and it’s accompanied by an emoji of a smiley face with money in his eyes, so you know it must be serious. Okay, all jokes aside, today we will provide you with a full analysis of the service, and let you know if they are providing enough verifiable data, to prove that their signals truly work or not.
The golden option team is located at 3200 Desserte S Autoroute 440, Laval, QC, Canada, H7T 2S4. None of the members of the team are introduced, but at the bottom of their terms of service the contact page takes us to a website for “Sam Ovens.” I’m not sure who Sam is, as he has no reputation in the Forex market, but considering the websites are linked, we would have to assume it’s the owner of the signal service. Although, the main way to get support seems to be through telegram @hustle_mindset. Since there seems to be an element of selling and nothing is being presented in the way of actual facts, the best thing to do would be to use these alternative trading products and services as we look carefully into this sales page to establish where the truth lies.
According to the signal providers at Golden Option Trading, over 90% of traders fail, but all of their students “are in the top 10%.” Whether this is just marketing, or not, it is a very aggressive claim, and one we would like to see proof of. The vendor does provide many video testimonials from clients, but all of these testimonials are either coming from their website or hosted on their YouTube channel, so they aren’t exactly from a third-party source. Our extensive research, found very little client feedback at all outside of what is presented on the vendor sales page. This isn’t a major negative, but most of the best Forex signal providers, do have a fair amount of outside reviews. The reputation for this vendor is still relatively under wraps.
The Golden Option Trading signal service is managed by NickFX10. A trader who focuses on medium-term periods, with a swing trading methodology promised to “bring home an average of about 800 to 1200 pips monthly.” Outside of this statement, the strategy isn’t elaborated in much detail. In terms of the provider, Nick doesn’t have an extensive reputation in the Forex marketplace, but it is a positive that we are provided access to a real person. At least this way, we know who is behind this service, and then we can make our determinations from there. This is better than signal providers that don’t provide any information about their traders.
This signal service sends out signals for pairs like GBPUSD, GBPJPY, USDCHF, GBPNZD, GBPAUD, GBPCAD, EURAUD, EURUSD and USDCAD. The strategy behind their trading is called swing strategy which basically means that they can hold trades for more than one day since take profits are usually placed at a far distance to take the most profit in the process.
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The signal frequency is 4-10 Per Week and they are charging $100 per month to have traders subscribed full time. There are currently 3 plans available for traders interested in the Golden Option Trading signals. Each plan is essentially the same, with what it had signals per week, signals sent and all sessions, and an average 200 pips per week promise. The only difference, is the length of term and the associated price. The one month package goes for $100, 3 months goes for $200, and a lifetime membership goes for $997. With the lifetime membership, the signal service comes with a full Forex course as a bonus, but this bonus is not explained in any detail.
With promises of 200 pips per month, we expect much more from the Golden Option Trading team when it comes to trading results. As it stands, the only trading results provided are screenshots of Myfxbook accounts, and trades in the MT4 app on someones phone. None of these results show an extended sample size, and only one of the images shows any activity in 2019. Vendors who rely on Myfxbook screenshots are very hard to trust. With the types of screenshots they are providing, they could easily be taking these images from anyone’s account, and just claiming it as their own.
The only way we can truly trust any of these results, is if the vendor upload their personal trading statements to their own Myfxbook account. This action literally takes under 15 minutes to complete, so there is no reason why the vendor can’t do that for us. This is the same request we have for many providers as you can see in our recent reviews of FX Premiere, and FXStrikes.
While there seem to be many reasons why a trader would want to subscribe for this signal service, the problem is that this sales page is lacking in terms of presenting their trading results in a proper way. The majority of the site look decent and professional. However, their trading results cannot be taken as the gospel truth since we are not able to verify those results. Certainly nobody is able to verify those results too.
So the main reason why we are not recommending Golden Option Trading is because they are not providing us with transparent results. They need to upload their actual trading statements or at least a myfxbook.com account.
While all has been said and done, we are looking for a reliable way to trade and these products provide such an opportunity.
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