Iron FX Signal is a new company that purports to offer Forex trading signals to subscribers. They have a wide range of plans which they claim can suit individual traders as well as those who run established entities for their clients.
From the word go, this website looks like it represents a horrible company. Usually, if you want to know what lies underneath the hood, the website is the first point of contact that will tell you whether or not the service is of quality.
In the case of Iron FX Signal, nothing gives us confidence. We don’t see the need to pull out our wallets with the intention of subscribing. Here’s why:
A rock-solid signal service should have a presentable website and not a poorly done website full of spelling and grammar errors.
The theme of this website literally sucks. It’s like the owner didn’t want to invest a dime in building a professional sales page that would attract a large following. Yet they still insist on collecting subscription fees here and there. Is there any reason to justify the horrible look of this website? Does the owner know how much this is costing their business?
Well, this should not be our concern. But it will surely affect our opinion about it. We cannot write a review and just ignore the small things that mostly play a critical role when it comes to making a purchase decision.
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In the case of Iron FX Signal website, the content is generic. The only unique thing here is the pricing. The rest of the content is rehashed from Google, probably with the intention to fill up space.
Nowhere in this website do we find a detailed description of who owns this service. Instead, the website has a page called ”Why our Signal” where they state that they are a group of professional traders. A group of professional traders? Really?
What proof is there that these people are a professional group of traders who specialize in reading the markets everyday to predict the future direction? We guess that there is not a single grain of proof.
Now, it appears that Iron FX Signal is based out of Panama (according to who.is). However, the name of the owner is hidden. Therefore, we may never know who owns this service.
Generally, we don’t feel comfortable subscribing to a signal service whose owner prefers to maintain a low profile. Clearly something looks fishy here. And we believe that most visitors who come to that site would equally be hesitant to pull out their credit card in the name of buying a service provided by a ”group of professional traders”.
The owner of this service does not see the need to identify themselves. But of course they see the need to introduce their service in details. This is quite typical of what scams do. They tend to put more prominence in the service than in the qualifications of the person providing the service.
So far, Iron FX Signal claims to deliver winning Forex signals to their traders under various plans. The first plan is called trial. It costs $25 per week. Signals are delivered through email and SMS. Entry price and take profits are also included in the signals. In addition to this, the signals come with ”updates on stop loss” to minimize losses and maximize profits.
If a user does not want to subscribe to the trial plan, they can opt for the $70 per month plan. This plan basically has the same features as the trial plan. The only difference is the length of time that a user will stay subscribed.
For those who want to subscribe on a quarterly basis, there is the premium plan which costs $180. This one offers the same features as the above plans.
And of course they have a trade copier service as well. This one costs $150 and $400 respectively. Features remain the same with the only difference being the length of time that users will remain subscribers.
So far, so good. They have told us what they offer clients. But in all this, we did not find verifiable performance record. This is what we are getting into in the next paragraph.
How do you vet a signal service before subscribing? How do you figure out that a particular service is better than the other?
There are a few indicators to help you determine what’s best for you, and one of them is trading performance. Iron FX Signal failed the first test of credibility. Anonymous signal providers don’t have a place in the market right now. If someone does not want to introduce themselves, you can always move to the next provider who is legitimate — who doesn’t see any problem identifying and proving that they have been trading successfully.
So far, we only have a link of the Iron FX Signal website which points to a page that supposedly updates trading records for their signals. The problem with such pages is that they are prone to manipulation, and Iron FX Signal is very much aware of this.
This pushed us to send them an email asking in a polite way if we could gain access to their trading statements or myfxbook account for that matter. Is asking for these records disrespectful? Not at all. It is a crime to request for a redacted broker statement? We don’t think so because we have never come across any law that prohibits traders from sharing their broker account statements.
So when we sent out an email, we expected them to mention any of the following: that Iron FX Signal was providing signals for educational purposes only, or that it was illegal or unprofessional to provide these details. At the same time, we were expecting them to ignore us altogether because most signal providers who are into this business to steal customers’ money often hate inquisitive people like us.
Alas, they responded. However, the response was something that we had anticipated. In that email, the person in charge of Iron FX Signal website claimed that their service was created to make traders’ work easier, and that they were not in any way providing investment advice.
At this point, we wondered whether providing trade entries and exists was not considered investment advice. This guy just contradicted himself in that email. We didn’t see the need to carry out any further conversation with them.
So far, there is no guarantee that Iron FX Signal will work for you. The only guarantee here is that you will get signals as agreed in those plans, and that you will pay the stated amount of money.
But without evidence of a track record suggesting that traders who manage Iron FX Signal are proficient, you will end up ruining your account.
We are not recommending Iron FX Signal website because it looks like a scam already. The credibility of this website was ruined by the theme and lack of transparency. We were put off to the extent of not wanting to test their trial plan. It wasn’t worth it. Good thing, you can use these trading solutions meanwhile.
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