Forex Lens (Forexlens.com) review is about an innovative trading room, managed account, and signal service provider. ForexLens is claiming to have experience in the signal service and have the proof for it. What is clear is that the team behind this platform is fully professional in all their dealings. Thanks to their high probable rates, users don’t have to use analyzing charts anymore. To find out more about this platform, we had to conduct an in-depth and thorough investigation.
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Once you visit their homepage, it’s clear that the design is aesthetically pleasing. And this is done to show the level of expertise to expect with the platform. Information about their services is well-shown for all to see. Navigating the entire website is also easy, which makes learning about their services interesting. There is no need to use industry jargon as the information is simplified to suit newbie investors. From daily live trading sessions to price action trading, all information is there for all to see.
When it comes to the learning materials, the platform offers a variety of educational content. Users can view YouTube videos, articles, and webinars. Members also get sign up with a weekly newsletter that informs them of the market conditions. And this is a perfect recipe for newbie traders. The platform is an easy way for naïve investors to learn more about trading in the Forex market. We give kudos to the developers for availing the much-needed learning materials to members.
It appears that the Forex Lens Inc group is located in Toronto, Canada. The platform also seems to have offices in London, United Kingdom. As for their physical address, we have not yet confirmed it. And this is a cause for concern since traders in these regions have not confirmed the location. The entire platform could be in Europe or the United States. One big problem with the lack of a confirmed physical address is anonymity. Members should also take note that the mother company is not in any Company register.
Thanks to feedback from investors, we can learn the different trading conditions. One such user who is appalled by their trading services is Allan. He claims that the program almost made him lose everything. Richard, on the other hand, claims that the platform uses signals from other providers. He claims that the vendor uses signals from other vendors and sells them via Telegram. Suhaly claims that their MAM service is an absolute joke. With these few comments, we now know what customers should expect with the platform.
According to domain checker tools, the website forexlens.com went live on 24th April 2016. It means that they are over four years old in the industry. What got us shocked were the different IP changes noted by the domain tools checker. Records show that there are a total of 42 changes on their IP address for over 13 years. And this means that the website was once sold to sell other products. It is a bad sign as the website’s original owner probably sold the domain to scam artists.
Some of the features to get with this signal provider include buying back time on charts. Users are also promised more signals for less and learning in a risk-free environment. The vendor boasts of having the best customer support, which we will look into. Members can also learn by watching live trading sessions. According to the vendor, they help breakdown the market and teach different strategies. We have seen that the vendor uses Intraday/swing trading strategies. The signal frequency is one to six signals per day.
Forex Lens is yet to show any documents to prove their license status. We checked with all regulators in the two regions where they claim to have offices. According to the regulators in the UK, the vendor is far from being legit. The FCA has received several complaints from users regarding this platform. Without a valid trading license, it means the risks involved are way too high. And this is the reason why we have to expose this platform. Traders have to be extra careful with unregulated products.
The problem with unregulated products is the fact that they don’t offer any protection to users. The vendor has no permit to operate in the online trading world. If the vendor has any license documents, they would have posted them. The disclaimer at the footer of their homepage has no such details. And this points to a platform that has a huge problem. Those that sign up with the vendor should know that there is no security of funds. When the vendor decides to sell the website, no user gets compensated.
Forex Lens is furnishing users with three subscription plans. With their Forex trading room plans, users get to choose between Apprentice, Committed, and Pro Trader. Each of these three plans comes with a different set of features. The apprentice offers 50 percent off for the first month, while the committed plan offers a 33 percent discount. Pro traders will save 45 percent once they purchase the plan within the month. Some of the enticing features include seven-day risk-free trading and full trading room access.
As far as their contact and support team goes, this is where the platform loses all credibility. The comments we’ve seen from users all show lack of concern from the vendor. Users can leave a message via the chat button and expect a response within one business day. It so happens that the vendor might take longer than the quoted time. And this is what makes us question the intent of this platform. Social media platforms are of no help as the vendor does not comment on them lately. We have seen a pattern where the vendor fails to update any content on their social media pages.
To qualify for their managed account services, users have to register with one of two brokers. One has to sign up with FX Choice or Vantage FX. It seems that these are their affiliate brokers, and ForexLens earns a small percentage for sign-ups. Traders will access their trading profile with these brokers and apply to the managed account. The minimum deposit with each of the broker is $500. It is way too high, considering the set industry minimum deposit is set at $250.
The trading room offers three daily live trade sessions. Two trading sessions are for forex, and one is for Crypto. According to the YouTube Videos, John helps traders analyze the market and provide trading ideas. John will come up with all the ideas when it comes to all major currency pairs. The Crypto trading sessions involve talking about major digital currency news and fundamental analysis. After viewing the videos, it’s apparent that the creators know about crypto trading.
When it comes to valid trading results, the platform offers past results. These results are presented in an online form, which is beyond ridiculous. A serious vendor will allow an independent third party, such as FX Blue and myfxbook, to verify results. Without verification of their results, all they present are random numbers. We will not trust any of their trading performance since they don’t relate to any real trading account.
Forex Lens is a good platform to learn about online trading; it doesn’t make them legit. The platform has a fair bit of valid information when it comes to Crypto and Forex trading. Once you go through their videos, you will learn a lot about online trading.
We will not be recommending this platform as it fails to produce valid trading results.
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