Black Trading Forex review
On the site the provider at once offers to join the group of the elite, but there is no information about the group itself. Who are these elite traders?
Further the provider is telling about himself. The founder of the service is Abid Rahman. The company is in this industry since 2018, though there is no trading history on the website. 4 years of trading, but we don't really know at what point they became "steadily profitable".
The provider asks from £70 to £450 per subscription for their VIP signals. Traders can access the premium service by purchasing a 1, 2, 4 month subscription or a lifetime subscription. All premium subscriptions offer the same service, consisting of 1/3 signals per day, and promise 1500/2000 pips per month. The entire page consists of brief, similar offers. The provider has a course of education. Customers who want the training will pay £750 and a lifetime subscription to Black Trading Forex membership costs £450. This course is definitely very expensive, and Black Trading Forex doesn't tell you the reason why this Forex course should cost so much. Since the course includes materials that can easily be found freely on the internet.
The provider has an instagram account with 8138 followers. In the main channel it publishes currency analysis and educational posts.
There is nothing on the YouTube channel.
The provider has 2 profiles on Tradingview. He is not that active here. The last post was on September 29.
The main source of signals is the telegram channel. It has 2,914 subscribers. The average number of views per post is about 250 - 300. This is quite small having such a large number of subscribers.
The channel was created in 2020. In the first post, the provider says that it has been in trading since 2017, although the website already shows 2018.
Let's take apart one of the signals on GBPUSD given on December 8, 2022 at 14:21. The signal was to sell the GBPUSD asset at 1.21730. Stop loss was at 1.21830. And take profit at the level of 1.21230. After the deal opening the price fluctuated for some time, but then went upward and the deal was closed with the loss. This was reported by the provider.
Another example. Signals were to sell USDJPY at 138. 890. Stop loss at 139.020 and take profit at 138.360. As you can see below, the price did not reach TP and the trade closed with a loss.
Let's proceed to the reviews of this provider on Trustpilot
The company has only 83 reviews having more than 2900 thousand subscribers on the Telegram channel, the average score accordingly is 4.9. 81 positive reviews are very short and generally express gratitude for successful signals without any specifics. It should be noted that many of the authors of reviews do not have pictures written at this website. This puts their authenticity in doubt. Only one review has a negative feedback.
There are more of the same type of reviews in the telegram channel. There are no negative or neutral reviews of any kind. All of them with gratitude about the success of the signals. Such reviews in telegram channel posts are questionable.
Overall, Black Trading Forex signal provider has quite good analytical skills. But the trades on the telegram channel are not verified. Nevertheless, it would have very easily avoided this situation if they had provided us with their myfxbook profile for verification. Black Trading Forex does not provide any links to their myfxbook account where we can see the alleged success of this trading educator. The provider does not offer any valuable information about their trading. The only thing they have is a sales pitch where customers can rely on promises. We should not trust everything the provider promises.