FX GOAT review
General information
Today we have on our radar a fairly well-known signal provider called FX GOAT. The company was created by two brothers in South Africa. They have a website and are on almost all social networks.
Website
The company's website is quite simple. On the first page we are greeted with the enrollment button. Then they explain what awaits you at the Forex Academy. They talk about experienced trader-teachers, although who they are and the results of their success are not presented.
To the question "WHAT MAKES FX GOAT THE BEST FOREX TRADING ACADEMY OUT THERE?" They answer that they have constant support and quality services. We would like more than support, for example, real trading results.
What's next for us? Next comes a set of courses that are offered for their students. Essentially there are 4 courses and two of them are free and the other two are paid. They're priced at $250 and $300. In these courses you will be taught technical analysis and a popular strategy today is Smart Money Concepts, i.e. trading on supply and demand levels. Then there is a lesson on how to do Challenges at prop firms, etc.
Next is an explanation of the order of the study and a testimonial from a student.
Social network
The provider has a large number of followers and instagram. There are more than 140 thousand people subscribed to them. The average number of audience engagement is very low at 1.35%. In instagram they post analysis of forex instruments, in addition, posts are devoted to lifestyle.
https://www.instagram.com/fxgoat_/
The provider has a large YouTube channel. It has more than 274,000 subscribers. Some videos are dedicated to market analysis, training and other topics such as "how to make $10,000 in a minute".
https://www.youtube.com/@fxgoat_
Telegram
The Telegram channel is the main source of signals. The provider also has a large number of subscribers here, which equals 45,850. Audience engagement is at a good level, which equals to 19.28%. The number of subscribers is growing. It has increased by 9% over the year from 29,760 to the current numbers.
What's on the telegarm channel? There are almost no signals here. There are a lot of screenshots of successful trades. And also simple asset analysis as shown below. There is a lot of advertising of broker and prop firm. And also posts from instagram are duplicated here. And a bunch of promo codes, etc. In addition to the above, the provider gives fundamental analysis to the forex market.
Signals
Let's analyze one of the last signals from the provider's telegram channel on October 4, 2023. The signals were for sell by market EURAUD . Stop loss at 1.6647. The provider gives several take profits at once. The first at 1.6558, the second at 1.6520 and the third at 1.6478. After opening the trade, the price immediately went according to the forecast and the trade reached the second take profit. The provider notified about it.
The second signal was also a buy by market of the pair GBPJPY. This was a pain free trade. The price immediately followed the forecast as in the first trade and the price reached the third take profit level. On all trades the R:R ratio is less than one, i.e. the risk is greater than the take profit. It should be noted that the telegram channel has very few signals.
Reviews
There are many reviews on the Internet about this provider, but all reviews are about their educational course. There are no reviews about signals in the Telegram channel. It is interesting that there are no reviews about the provider on trustpailot - a respectable third-party review platform. There is one review on the website and only that. There is a good review of the provider at the link below. There is a lot of quite interesting stuff here, both about the signals and the course.
https://opwellforex.org/fx-goat-forex-academy-reviews/
There are no reviews on instagram or telegram channel. But there are reviews from people on youtube. There are some negative ones and of course positive ones.
https://www.youtube.com/watch?v=vEXBHBNHbR0
Conclusion
FX GOAT has a large number of followers on all social networks. But has no profiles in myfxbook, which is very important in this industry for sake of transparency. There are no reviews on trusted reviews websites either. Also on the telegram channel there are very few signals, a lot of advertising. Perhaps the provider has good analytical skills and can trade profitably, but there is no confirmation of this.
