Forex King Signals review
There is nothing special on the provider's site, the website is quite simple. Forex King Signals website does not provide any information about their company.
The provider charges from $110 to $250 per subscription for its VIP signals. Traders can access the premium service by purchasing a 2-month, 12-month or lifetime subscription. All premium subscriptions offer the same services, consisting of 5-8 signals per day, and promise a 90% win rate and up to 2,500 pips per month. The whole page consists of brief similar offers.
On the next page they show an unconfirmed history of results from the company's VIP group. There is no proof or list from any reliable source like myfxbook. The results and success rates raise a lot of questions. You can't blindly believe these results.
Then the provider shows a screenshot from myfxbook. There is no link to the profile and to the results.
The main source of signals is the Telegram channel. It has 24,978 subscribers. The average number of views is 3,211. The engagement of the audience is at a low level and is equal to 12.85%.
During the year the provider lost -23% of the audience from 32,500 to 25,000. This suggests that the provider may have screwed up their channel. About the channel description the provider promises:
Weekly 2000-5000 pips.
Daily 1/2 free signals.
95-99% winrate. 99%
Let's break down one of the last signals from the telegram provider channel on September 23, 2022 at 4:30 pm. The signals were to buy the asset XTIUSD(USOIL) at 79.00 Stop loss at 76.00, and 3 take profit levels: 80.00, 82.00, 89.00. Risk/profit is negative in all trades of the provider.
After opening the trade the price went up and reached TP1 and then it went down against the forecast and the trade closed in the negative. But the provider claims that the price reached also TP2. Although it is visible that the price has reached the stop.
Another example. The signals were to buy gold at 1647. Stop loss at 1640, and 3 take profit levels: 1652, 1657, 1680. Risk/profit is also negative. After opening the trade the price went up according to the forecast and the price reached TP1, TP2 and TP3.
There are no reviews on third-party websites for this provider. There are many single-type reviews on the website. There are no negative or neutral reviews, of course. All of them are with gratitude about the success of the signals. Such reviews are questionable.
On the public telegram channel of Forex King Signals provider actively posts the results of deals from the VIP group, which can not be checked. The negative R/R ratio is also worrying. With such R/R one can lose capital on 2-3 trades. There is no proof that the provider has at least 50% of winrate, not to mention the 99% as claimed by the Provider. Clearly, this provider lures inexperienced traders.
During the month of September provider has "made over 12 000 pips" of profit. Of course, these screenshots of exorbitant profits per week raises serious doubts, and simply providing screenshots of trades made in VIP group does not confirm these results. Provider would have very easily avoided this situation if he had provided a link to his myfxbook profile and there isn't one. If the provider is really that good, then why doesn't anyone write reviews on third-party websites.