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Forex Training Group Review: is it a Scam?

Forex Training Group Review: is it a Scam?

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An India based signal provider Forex Training Group (Forextraininggroup.com) review is here. FTG is the signal provider that has a relatively good chance of making a mark in the world. They provide seven to ten signals per day, which is rare to see. The fewer the signals provided, the more accurate the signals. Before we heap praise to this platform, there a few issues that are worth mentioning. Read this entire review and find out more about this trading signal provider.

Forex Training Group Review

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About Forex Training Group

The platform shows a lot of promise when it comes to providing accurate signals. Upon landing on their homepage, one might think that it is a blog. There are many articles on the page regarding online trading. Investors should not get confused as this is a site with many features. We noticed that the platform claims to offer all major currency pairs. From what we saw, the platform tries to inform users of what to expect. The only problem is the delivery of this information.

Forex Training Group is a platform that claims to offer no BS to users. They claim that risk control is in their mind and strive for a reward risk ratio of 1:5. The platform provides 27 currency pairs and uses swing trading strategies. Users receive signals via three channels, email, member’s area, and SMS. They also claim that one of their core principles is to enter trades with limit orders. The platform also states that its trading philosophy is based on pattern recognition and technical analysis.

All the information on the signals provided

Information on their premium trading signals shows the platform continually scans the markets. They claim that the signals are based on the four and eight-hour chart timeframes. The platform also uses the daily timeframes as these three timeframes offer the best combination of success. Information retrieved from the site claims these signals last for two to seven days. They send the signals well in advance as their execution model allows users to use the signals. The signal provider knows what they are doing.

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Compliance, License, and Registration of Forex Training Group

Forex Training Group is not mentioning their regulatory status on its platform. And this makes us wary of the fact that the platform will not be able to secure funds. Features such as money-back guarantees are a problem for users. The platform is not a valid training institution that changes the whole perspective. With over seven years in the industry, the platform ought to have a valid license by now. The reason why they have no permit even now remains to be seen. And this is why we have to blacklist this platform.

A valid license to show that they comply with trading regulations would have been ideal. It helps to show that the platform has passed all tests to provide trading education. Without a license, the platform remains to be another provider with no assurance from regulators. Such a platform does not guarantee the security of funds. A closer look at the Reserve Bank of India shows no platform is licensed under the above name. And this is where users have to be extra careful when committing to such a platform.

Developer of the platform

Forex Training Group Developer

Vic Patel is the person who is said to be the owner of this platform. He has a team of experts who help with the day to day execution of trades. The problem with ownership details is information on their level of experience. For all we know, Vic could be an investor who has a working platform. He should be open in terms of the team behind him and whether they are experienced enough. A closer look at Vic’s LinkedIn page shows that the developer has two listed jobs on the profile.

Domain information

Due to the importance of finding out the truth about a platform, domain details are crucial. We found out that their domain went live on 18th March 2013. It means the site has over seven years of online presence, which is a good sign. One of the biggest problems that we found was concerning their IP history. It seems that the platform has made ten changes over the past 14 years. The information means that this site has changed hands and also the products on offer.

Feedback from clients

With their years of trading existence, we could not find any meaningful comments. And this is a problem considering that the platform has been around for seven years. Most of the traders in India seem to give good reviews on the platform. In this era of social media, we did not get to find their social media presence. The platform should be able to sell its products via social media platforms. And this could be the reason that their signals are not available on platforms such as Telegram.

Features of Forex Training Group

They claim that the Forex Training Group is a discretional swing traders platform. They make decisions on a favorable risk-reward ratio and incorporate strict money management rules. What we found out later is that the platform also claims to offer minor currency pairs. Even though they fail to mention it, the platform might, in the future, deal with crypto pairs. The platform also uses exact entry, stop, and target principles. It gives subscribers plenty of time to place trades with the signals.

Available Plans

Forex Training Group Packages and Subcriptions

Forex Training Group is offering users with two plans to choose from. The first plan is a 14-day free trial, and users must deposit $59. After the trial, users must file $97 per month and enjoy the signals. The second plan goes for $97 per month and is recurring. All the features on trial and real accounts are the same. We should caution traders that the platform does not indicate any money-back features. It leaves a huge hole to fill, which we don’t feel comfortable with. They should follow due diligence and offer the safety of funds.

Performance and results

The platform has a performance page that goes back to the 2017 fourth quarter. What we find unacceptable is a signal provider offering charts and tables as evidence. It is the case with this signal provider as they merely provide a table. They think that we are naïve investors and will easily buy whatever is sold. And this is the main problem with the platform. There are no verified results to prove that their signals work. Without a credible third party verifying these results, we can’t trust them.

Scam or legit Forex Training Group

Forex Training Group is a signal provider with the right mentality. The only problem is that they fail to produce valuable results. And this is a problem with most signal providers. They should be able to share their results on FX Blue or myfxbook. It is for this reason that we fail to recommend using this platform. Any investor who has used this platform should share their experience with us. It will help create a better picture of how well the platform works.

Our verdict

There is no way we will recommend a platform with no proven results.

Safety is the number one priority when it comes to trading. Go for authentic forex trading robots that offer security for your investment. It is what most successful traders use to get ahead of the trading world. Ensure you use these robots for a chance to make reasonable profit margins.

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