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Ultimate Forex Signals Review: Is this a Scam?

Ultimate Forex Signals Review: Is this a Scam?

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Ultimate Forex Signals (ultimateforexsignals.com) is a Forex signal service that claims that their service takes you 5 minutes of your time each day and that you will always trade like a professional. They tell us that their service sends out one email every day at 12PM London time (7AM EST). This email consists of 2 signal alerts which entail entry, take profit and stop loss. It is not clear whether these are pending orders or live entries. This is quite a specific approach and if you are a trader who will not be available at this time, there is no need to look at the service.

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According to the website’s sales page, the service consists of a group of currency traders who started trading back in 2008. In the last 11 years, the team have gained enough knowledge and experience in currency trading which has contributed to a significant and steady growth of their trading accounts. Because they have enough experience, they feel that they can help traders achieve this success by distributing their signals for a fee. The one thing that we need to know is whether these 11 years of trading can be backed by at least a few months’ trading statement because there are many signal services that make nearly the same claim. If there is no proof of live trading for the said period of time, it becomes difficult to trust these vendors when they say that they are professionals. But we hope this is not the case here because even the website of Ultimate Forex Signals looks and feels very professional unlike many of the similar services that we have reviewed here before. here is no verified information about their whereabouts, or identities. In order to get in touch with support traders can email [email protected] At the moment, we are recommending these Forex trading resources to the community and if you are actively looking for a trading software or a signal service, this page will help you a lot.

Ultimate Forex Signals review

The website of Ultimate Forex Signals sales page is straight forward, but it doesn’t provide much detail about the intricacies of their service, nor their trading methodologies. In fact, they provide zero insight into their Forex trading approach, and the rules or analyses they utilize when triggering a potential trade. They claim that the signals are manually researched, and that they use a reliable strategy they’ve constructed over the years built on the foundations of technical analysis. In our Forex signal reviews, we frequently come across vendors that miss key elements in the description of their service, and that’s no different in this case here.

In terms of their signals, Ultimate Forex Signals stresses the traders only need 5 minutes per day to trade. These trades will have a maximum stop loss of 80 pips per pair, which makes for a total of 160 pips per day. On average, traders can expect to receive 40 signals per month, 20 EURUSD, and 20 USDJPY. It’s also worth noting that the signals will sometimes hedge with trades on the same pair running in both directions. They do not offer automation of their trades, as they rely solely on email to provide them.

A breakdown of what Ultimate Forex Signals offers

At this point, it is worth noting down details such as pricing, frequency of which they send out signals, pairs which they trade and whether they use technical or fundamental analysis. These guys charge 100€/month (in the lowest end) and there are 3 plans to subscribe for. All of the three plans are the same in terms of what they offer. But the reason why Ultimate Forex Signals charges different price tags is because the length of subscription can differ. A one month subscription goes for 100€, a three month subscription 250€ and a 6 month subscription 420€.

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We can say that this kind of pricing model is making the service look a bit expensive considering that most signal providers charge half the amount. We do believe that this vendor should seriously consider lowing their price, considering the fact that they only provide to signals per day, and they don’t offer many of the other distribution methods that cheaper signal service providers do. Now, apparently the service does not offer a free trial. This is a setback because when we have such price tags for a signal service, it is imperative that the signal service should show us their performance or at least let us test their signals for a period of 14 days.

Do they have any performance results?

They have a table of trading results which is updated at the end of every month to reflect performance for a particular month. The results go all the way back to November 2016, and during this period of time the vendor claims that they have earned 6111 pips in total. One question that most people will ask is why Ultimate Forex Signals is opting to display performance results on a table instead of displaying on a statement sharing service like myfxbook. We needed a Myfxbook account or anything third-party verified to prove that the signals are reliable. On top of this, the vendor doesn’t provide a trade by trade breakdown which would be very easy for them to organize, considering that they email the signals to their clients every single day.

At this point, we are thinking that the vendor needs to provide proof that their signals are profitable so that we can subscribe. We have no idea why they do not have a myfxbook account despite operating the business for the alleged number of years (its over a decade so they claim).

Our best advice for you

There is only one positive element on the Ultimate Forex Signals website. Their straight forward nature makes it easy to go through the page and grasp everything that they are saying. But the manner in which they present performance is lackluster and we think they should fix this. In the meantime, we are encouraging traders to get started with these trading resources because we have no confidence in Ultimate Forex Signals service.

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