FXTP Signals Review: Is FXTP Signals Scam or Profitable?

FXTP Signals Review: Is FXTP Signals Scam or Profitable?

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FXTP Signals that was created to take advantage of superior market timing on a single Forex pair, EURUSD. If you want automated trading, provides that opportunity as well since they have a trade copying feature that makes this possible.

So all traders have to do when they sign up at FXTP signals is connect their trading platform to the signals. The provider promises that it’s easy to set up and that no experience is required in order to be successful.

N/B: Check out these trading resources.

In terms of the company, all we really know is that the signal service was first launched in 2017. The vendor provides no information about their location, or their trading history outside of claiming that they have 4 years of experience in testing. It would be beneficial, if they introduced some of their Forex analysts, so we know exactly who was sending the signal. That way, we could do additional research, and find out the Forex trading history of the vendors.

In order to get in touch with support, traders can email [email protected], during their office hours Monday-Friday 8:00am-8:00pm GMT. The group also have very active Twitter and Facebook accounts, although we do believe that their follower counts are bloated by bots.

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FXTP Signals review

Despite only being around for a couple of years, the FXTP Signals website looks like it was created in the early 2000’s. Their website is very simple in design, and one that doesn’t provide us with much information about the services. The only real page with much information is the about page, which we do appreciate, because it is quite well written.

About this signal provider

They provide the following info on their about us page:

”FXTP SIGNALS uses cutting edge financial technology to provide live Internet-based Forex Trading Signals, Auto Trade Copier, Fund Management, Research, Market Updates and Trading Services to everyone, from individuals to large corporations, from portfolio managers to financial institutions.

Our trading, research and analysis team have over 40 years experience in testing, developing and trading quantitative, statistically backed trading models in the financial markets. Through extensive research we have tested and analysed virtually every type of trading methodology conceivable, from long term multi-year trend following, to the most rapid HFT (high-frequency trading).”

FXTP signals trading Strategy

The signal provider doesn’t going to detail about the strategy, but they do tell us that they focus on short term scalping. They feel that this approach measure with a single pair, allows them to provide “robust performance through choppy and trending” market conditions all-in-one system.

They claim to have “tested it analyze virtually every type of trading methodology conceivable, from long-term multiyear trend following, to the most rapid HFT.” In doing this research, they decided to settle on short term scalping, to take advantage of market movements and evolving market conditions.

It’s worth noting, that the majority of the trades are very fast, and very small which means you will need a very low spread account in order to be successful. Generally, Forex signal providers focus on long term trades, like Forex Trade Forecast and Blue Mind FX.

Overview of the Signal service in summary

Type: Forex Signals, Price: $197/month, Strategy: Short Term Scalping, Signal Frequency: 100+/month and Pairs being traded is EURUSD.

They are two ways to sign up for the FXTP Signals service. You can either pay $197 per month, or sign up and deposit a minimum of $1000 with either HotForex or XM. If you choose to follow the second route, you have to make sure that you open the account through their specific affiliate link, and then email them directly afterwards to tell him that you have registered. This entitles you to lifetime access, and really makes it difficult to fathom paying the $197 per month.

Client Feedback with regards to the level of service offered by this signal provider

We were only able to find one client review, which happens to be a one star review on FPA. This client was making the following claim on the Forex Peace Army traders forum.

”This site claims to be providing signals. As per the google search under this company is not us based and is based somewhere in Pakistan. Upon approaching them for live chat they will never respond. And they will only respond when you send them a message in there favor i.e I have opened an account and the details are so and so. I have tried to ask them similar question to give me the investor password for any live account you have but no reply and they suddenly disappear.
Watch out of this scammer.”

If you read this feedback, you realize that this person has not tried the service. He was making conclusions based on FXTP signals service refusing to answer his questions. Whether this is fair or not depends with how you want to view it. But in our perspective, we feel that this signal service is not offering what they have promised on their website. That is why they are not able to answer questions which they are being asked by potential investors.

Does FXTP signals offer any Trading Results?

The FXTP Signals trading results come across as quite impressive, but they don’t seem to be updated regularly, and that is in line with the main issue, which is that they don’t verify any of their results.

It’s difficult to trust the validity or the viability of the trading results provided, because they are not uploaded to a statement sharing service provider. The statement is simply uploaded to the website, by the developers, which means they have full control over the results. This means that they can add wins and remove losses or cherry pick trades however they see fit.

Our best advice for you

All of the best Forex signal providers available have a much higher level of transparency, and we believe that this vendor should follow suit.

Therefore, in terms of trading results, this signal vendor has disappointed us. Based on this fact alone, we cannot include FXTP Signals the list of the best trading resources.

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