Elite FX Signals, a prominent player in the world of forex trading, has garnered attention for its audacious claim of being the best forex signal service available. With a little over a year of existence under its belt, Elite FX Signals has managed to captivate traders with its unique approach. Unlike traditional signal service providers, Elite FX Signals operates without a dedicated website; instead, it offers its services exclusively through a Telegram channel.
In this comprehensive review, we delve into the features, advantages, and drawbacks of Elite FX Signals, shedding light on its performance and effectiveness as a reliable signal provider. Join us as we navigate through the intriguing world of Elite FX Signals and uncover whether it truly lives up to its self-proclaimed status as the top forex signal service in the market.
Services Provided by Elite Fx Signals
- Free and Paid Forex Trading Signals: Elite FX Signals offers both free and paid forex trading signals. This allows traders to test the waters before committing to a subscription. The signal service is designed to assist retail forex traders in their journey towards financial independence.
- Daily Disclosure of Free Signals: Every day, Elite FX Signals reveals one free signal on their Telegram channel. This provides traders with an opportunity to assess the quality and accuracy of the signals before considering a paid subscription. The transparency of providing free signals showcases the confidence the company has in its expertise.
- Signal Structure: Each forex signal shared by Elite FX Signals comprises essential information, including the entry point, two take profit (2TP) targets, and one stop loss (SL) point. This comprehensive structure allows traders to make informed decisions and manage their positions effectively.
- Regular Updates and Market Information: Elite FX Signals goes beyond providing signals by keeping its subscribers informed about running positions and offering small updates on the market. This commitment to ongoing communication ensures that traders stay up to date with the latest market trends and potential trading opportunities.
Features of Elite Fx Signal
- Elite Fx Signals provides trading signals for a wide selection of 28 currency pairs. This extensive coverage enables traders to explore numerous trading opportunities and diversify their portfolios effectively
- The service prides itself on offering signals with the lowest drawdowns, aiming to minimize potential risks associated with trading. By prioritizing capital preservation, Elite Fx Signals strives to provide traders with a secure and stable trading environment.
- Elite Fx Signals caters to traders of all skill levels, including both seasoned traders and beginners. Regardless of your level of expertise in the forex market, you can utilize their signals without the need for extensive forex-related knowledge, making it accessible to a wide range of users.
- To streamline the trading process, Elite Fx Signals allows traders to connect their MetaTrader 4 (MT4) accounts to the master account. This enables automatic copy trading, where trades executed on the master account are replicated on the connected accounts. This feature simplifies trade execution and eliminates the need for manual intervention.
- Elite Fx Signals claims to have a team of experienced traders with a collective trading experience of over 25 years. However, it’s important to note that there is a lack of concrete proof to substantiate this claim. Transparent disclosure of the team members’ credentials would significantly enhance the service’s credibility.
- Elite Fx Signals offers a flexible trading frequency, with an average of 5 to 28 trades per week. This range caters to various trading preferences, allowing traders to select a level of activity that aligns with their trading strategies and goals
- Once subscribers purchase full-time access to Elite Fx Signals, they can rest assured that no additional fees will be charged. This feature provides transparency in the cost structure, enabling traders to make informed decisions without encountering unexpected financial obligations.
Forex Elite Signals offers four VIP subscription packages: $35 per month, $99 for six months, $175 for one year, and a lifetime membership for just $60. The significant price difference between the lifetime membership and the other packages raises concerns about the service’s value and reliability. Since there are no verified results available, it is recommended to test their free signals on a demo account for at least one month before considering any paid subscription. This allows traders to assess the signal quality and make an informed decision about the pricing options.
Elite Fx Signals Review Pros & Cons
- Elite Fx Signals provides free signals on a daily basis, allowing traders to assess their performance without financial commitments.
- The service claims to have a team of experienced traders, which can potentially provide valuable insights and expertise.
- Elite Fx Signals lacks verified results and transparency, relying on screenshots and recorded videos to showcase performance.
- The service’s reliance on visual media makes it difficult to accurately evaluate the actual performance of their signals.
- Elite Fx Signals does not provide clear information about the identities of its team members, raising concerns about their qualifications and expertise.
- The pricing structure of Elite Fx Signals raises questions, with discrepancies between the lifetime membership price and other subscription plans.
- There have been criticisms regarding the transparency of the copy trading process and the high monthly costs associated with Elite Fx Signals.
Elite Fx Signals presents a mixed bag of opportunities and concerns. While the provision of free signals and access to experienced traders are positive aspects, the lack of verified results, transparency, and clear identity raise red flags. Traders are advised to exercise caution and refrain from investing in the service without addressing these concerns. Exploring other credible and transparent signal providers with lower costs is recommended. Additionally, traders can consider testing the free signals on a demo account to evaluate their performance before committing financially. The absence of information about the strategies and indicators used by the system further emphasizes the need for due diligence and thorough research when selecting a forex signal service.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.