Million Money FX review
General information
Today we are going to analyze a signal provider called Million Money Fx. The provider provides free and paid signals. The provider has a Facebook and Instagram account. But there is no website.
Social network
The provider has an instagram account. It posts successful trades. The channel is quite active. But with 6,348 subscribers there are only 15-20 likes on posts. Low activity suggests that it has fake subscribers.
https://www.instagram.com/millionmoneyfx/
There is also a page with 782 followers on facebook. The posts here are duplicated from the instagram account.
https://www.facebook.com/millionmoneyfx/
Telegram
Telegram channel is the main source of signals. It has 58,988 subscribers. The average number of views is 18,647. The audience engagement is at a good level and equals 31.61%.
If we look at the number of subscribers from September 2021 to August 2022, we can see that it has sharply increased and decreased several times during that time. This shows that the provider has unnatural subscriber growth. The provider has an additional learning channel. There is nothing special on this channel, only elementary tutorials.
The provider actively advertises his VIP channel on the public channel. It asks £30 for a subscription. The message says the following: "Stop wasting your time and start earning with us in the VIP group! We are the best signal providers with 85% accuracy. Provider promises 2000-4000+ pips per month with 85% success rate.
Signals
Let's analyze one of the latest signals from the provider's telegram channel. The signal was to buy EURAUD asset at the price of 1.4619. Stop loss at 1.4510, take profit at 1.4639 and second take at 1.4669. The risk/profit on this trade is 0.18, which is very low.
After opening the trade the price was fluctuating for some time, but then went up and reached the first strike. The trade closed with +20 point profit. The provider has informed us about it.
Another example. The signal was to buy GBPCHF at the price of 1.1479. Stop loss was at the level of 1.1329. And the take profit was at 1.1499 and the second at 1.1529. The risk to profit ratio is very bad. After opening the trade the price immediately followed the forecast and reached the first and second take profits. The trade closed with a profit.
Reviews
I haven't found any reviews on third-party Internet sites on this provider. There are a lot of similar reviews on the channel's telegram. Naturally, as their either negative or neutral reviews are not. All of them with gratitude about the success of the signals. Of course, such reviews in telegram channel posts are questionable.
Conclusion
Provider Million Money FX has a large number of subscribers in the Telegram channel. Abrupt jumps in the number of subscribers indicates the likelihood of fake subscribers. The provider is active in social networking telling about his profitable trades but the quality of risk management, to put it mildly, leaves much to be desired. The risk/profit as shown above is poor. Even with a high win rate it is possible to lose capital in one trade. And as usual providing a history of results as well as screenshots will not prove that the results are proven. You have to buy a subscription to see the real results.
