Have you heard of a genuine signal service charging as little as $4.99/month and still delivering quality signals?
A signal provider by the name Dux Forex claims to offer the cheapest and genuine signals on the internet.
It’s hard to believe that ”good signals” are now being hawked for less than 5 bucks.
It means every Tom, Dick and Harry can now jump on the bandwagon to bank easy Forex money, don’t you think?
Well, we’re going to review Dux Forex Trading signals and find out if certain claims made by this provider are true or false.
Please note: before we did this review, we scouted user reviews online to find out what others were saying about the service.We discovered that people were giving mixed opinions concerning Dux Forex Trading signals.
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Some were extremely positive while others were very negative about this service.
It’s hard to know who is telling the truth or who was paid to write positive reviews.
Let’s review it anyway. At the end of the day, it’s you and your money. You can choose to invest your cash on our recommends Forex products or take it elsewhere if you wish to.
The site is very attractive to look at, thanks to their experienced web designers.
However, this is also where we find all the claims, some believable while others are hard to believe.
You see, these days Forex signal providers say one thing and do the other. So unless there is proof that they stick to their word, we can’t just give them 100% trust rating.
First of all, this website claims that Duka Forex signals are very accurate because they are impeccably calculated.
And for less than 5USD, you will receive these quality signals every day for as long as you are willing to pay 5 bucks each month.
A quick research on this website reveals that it was first registered in September 2014 and updated in 2016.
The site is registered with the name Dux Forex Trading Signals and operates out of Nottingham in England.
According to the information given on the website, signals are only delivered into their members’ email inboxes after they’ve been analyzed by their top traders and analysts.
The owners of this site claim that Dux Forex uses candlesticks, price action, correction, news, swing-trading on economic spikes, and hedging.
They actually tell us that these signals are only generated by world-class traders who have participated in competitions before and won several awards.
But the problem with these claims is that the site doesn’t mention names to back up what it is telling its audience.
In addition to this, the site also claimed that some of their top traders are ‘champions of Etoro”. Again, no names are mentioned.
This makes it extremely hard to research this information and find out the truth. So we are actually left in the dark.
We don’t know who is running the show and analyzing signals that are supposed to make us money on a daily basis.
This is a signal service provider. They sell signals which can be traded on any broker’s platform.
The site claims that signals are delivered with complete, actionable information that consists of TP1, TP2, and TP3 levels together with SL.
We must admit that this is the first time we are encountering a Forex signal provider offering up to TP3 levels per trade.
As always, these signals are delivered by email, text or even through Facebook. We don’t know how Facebook alerts work here given that this provider doesn’t look very active on social media.
The company claims that it is ahead of its competition because its signals can be used with any broker.
We don’t think this is unique anyway. Most signal providers do allow this kind of thing.
And even though this website claims that signals can be accessed for the cost of $4.99 per month, traders later realize that they have to pay $47 instead of $4.99 in order to sign up.
This information is not indicated anywhere on their pages, hence you have to find out on your own when checking out this product.
We don’t know why Dux Forex is not being transparent with the way they market their products to us.
It could easily amount to hidden charges so to speak.
There are no myfxbook results on this website. What we have is a two column table with currency pairs on one side and number of pips made on the other.
This cannot be used to sell performance of this signal service. It cannot be used to conclude that Dux Forex has given solid evidence of their performance since these can always be manipulated to favor the company.
We wanted myfxbook results with complete details, you know? Not the kind of statements with hidden names or account numbers.
In our opinion, Dux Forex has failed to show us credible evidence on how their signals have been performing in the last few months.
Some say that Dux Forex Trading signals are good. Others say that most signals do not end in the money.
One user said that he tried Dux Forex Trading signals on a demo account and ended up losing £6000 in the first month alone.
The second month was not an improvement either. This user also claimed that Dux Forex offers huge stops which automatically puts the user at great risk of failing to capture pips.
Other users have also requested for a trial account only for Dux Forex to go quiet on them. We don’t know whether their customer support is selective on these issues because there are quite a handful of people who reported that they were ignored.
Users complain of the fact that they have to be online in front of their computers to catch the signals. Otherwise, they lose trading opportunities.
Others claimed that they took time to trade these signals for 3 consecutive months but never made any profits at the end of the day.
Another thing is that the company has never introduced their team. We don’t know anything about the people running this or the professionals working behind the scenes to generate the so-called profitable signals.
And since they don’t offer a trading EA that makes your work easier, you are likely to miss out on signals the better part of the day.
Unless you’re willing to sit in front of your PC monitoring your email all day long, there is no way to trade their signals conveniently.
This is one reason why some traders have since abandoned this service. Most people can’t afford to sit in front of their PCs 24/5.
One thing we didn’t mention is the win rate. This is estimated at 95%. This is just too high and unrealistic. It’s not realistic for someone to charge $47 and deliver such quality signals.
It’s just too good to be true, and you know how things go whenever you pay a cheap price for a product or service. Simply put, if you don’t want to get frustrated, just sign up to any one of these Forex products.
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