Today we are reviewing a service that claims to have attracted some 760+ members since they began operations in 2006, Royalforexsignals.com. Although the site’s domain has a .com extension, their logo suggests that they are known as royalforexsignals.net. So we are not quite sure if they own the two domains. The most important thing that we are concerned with is that this signals vendor is claiming to provide premium Forex signals in the market place. They claim that their trading results have been consistent and profitable since 2006.
Note: To find out which Forex signals are doing a good job, go here.
Royal Forex Signals claims that they are providing a stable source of income for their members, a statement which we cannot confirm or verify due to a number of factors that are detrimental to this web page. In addition to that, they are claiming to provide trading signals together with take profits, stop loss and entries. Their take profits aim for 75+ pips while stop loss is usually set at 45 pips.
We do not know whether these figures are based on the average take profit or stop loss figures. Standard take profit and stop loss does not work in all pairs and all market conditions. These should vary based on the market condition and the pair being traded. They also claim that their signals have a win rate of 69-90%, and have not changed since 2010. Again, this is something we cannot confirm if Royal Forex Signals won’t independently verify these results starting 2010 up to this day.
So the question is, can we trust Royal Forex Signals?
The signals that clients expect to receive from this website are dispatched through sms or their web based platform. The vendor is working with 11 different currency pairs, including Gold. They claim that by the time we are completing a duration of one month, we should be having 1000 or more pips as long as we follow their premium signals.
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However, the vendor’s site has a lot of contradictory statements since in another section of the homepage, the vendor claims that their signals have a win rate of 85% and not 69% as initially claimed. They are also targeting 750 pips per month as opposed to a minimum of 1000 pips. As you can see, these are quite contradictory statements that only serve to bring more confusion as opposed to informing their audience.
We have also checked their records on who.is and discovered that there are 22 records recorded since the year 2012. The most surprising thing is that there is no evidence that the site had an owner since 2012. The signal vendor cannot account for what they were doing between 2006 and 2012. It appears that they were operating under the .net domain at this time. They only transitioned to a .com domain in 2012. This is where the disparity is most likely coming from.
The site also tells us that the signals service is owned and operated by Graydon Services Limited. Their physical address is Suite 102, Ground Floor, Blake Building, Corner Eyre & Huston Streets, Belize City, Belize. This address is quite confusing because the site is also giving us a New York based address on the header in addition to a phone number. So this is just adding more confusion to a matter that is already complicated.
However, close investigations reveals that the signal provider was using a WordPress theme from a developer called Theme Grill but failed to get rid of the developer’s default address and phone number. But you see, most users don’t have the patience to conduct their own research to discover this fact. They will just conclude that Royal Forex Signals is either operating from two locations or is trying to intentionally confuse us.
Also, it can be very difficult to try believing that this signals vendor is professional and serious about their business. If they can’t take small details seriously and are making it up to the customer to point it out on their behalf, this certainly doesn’t paint them in a positive picture.
This service tells us on their site that they have a growing client base which is currently standing at 760. The question that we are asking is why they haven’t fixed basic development issues on their site. They also tell us that they are focused on short term trades which are predicted based on technical analysis. They claim that their members will receive signals in details so that members can know which pairs to trade, which direction to take together with the relevant stops for that particular trade.
On the other hand, the trader is supposed to be patient until price reaches the recommended level before they can execute the trade. The fact that this vendor is confusing and misleading us with contradicting numbers means they are unprofessional. They do not know how to present information to their audience in a professional manner. This is a sign that this vendor will most likely fail to deliver quality signals when it comes to dealing with real matters involving trading of real funds.
Their signals plans can be purchased starting $99 per month all the way to $499. They claim that the service will dispatch between 7 to 15 signals a day. This is the wrong perception which can be misleading because signals can only be dispatched when they form. Markets don’t behave the same way every day. So we cannot tell how many signals can be delivered every day. It is not possible.
This is very disappointing. Many services tend to disappoint us in this segment of our reviews. This is the case with Royal Forex Signals which is only showing us a screenshot of performance tables with monthly gains of 700-800 pips.
None of the numbers we are being presented with in this table can be verified. So how does this vendor expect consumers to trust their claim that they are generating 700 pips a month?
Royal Forex Signals is not a decent signals service to rely on. We are recommending these options for your trading.
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