ProfitsWithUs review
General information
A signal provider called Profit With Us is a forex signals channel. It claims that its traders have more than 10 years of experience. Let's see if they are really experienced or not.
Website
There is nothing special on the provider's website, like most providers, the site is quite simple, even you can say that it is not professional. It promises 90% accuracy and over 1000 pips of profit per week on the main page. The provider writes: "Join our premium channel with over 90% accuracy and averaging over 1000 Pip's per week with our unique trading strategy!".
In the about us tab, the provider writes about strategy and team. But what kind of strategy? Could it be scalping or swing trading? I would like to know more about the stasistics of this strategy or what were the results of the backtest. There is also nothing about the team. No names or backstory. If they have 10 years of experience can we look at the track record?
Next, the provider advertises a premium group. In this group it promises 4000-8000+ pips per month. It writes: "Our premium members also get chart analysis and larger take profit targets for more profits". But big take profit doesn't mean profitable.
On premium channel the company offers 5-7 signals per day. For its services the provider asks 50$ per month. Accordingly, 145$ for 3 months and 350$ for a year. The provider promises a monthly income of 4000 pips with a win rate of 90%, which raises doubts. Because the provider immediately disclaims any responsibility, saying that the future results of signals are not guaranteed.
A real red flag is the presence of fake reviews on the provider's website. What this means is not quite clear. Why fake reviews about a provider that has a winning percentage of more than 90%? They also claim that they are supposedly credited in publications as (no link at all):
Social network
The provider has an instagram account on their website. But . . .
https://www.instagram.com/profitswithus/
There's also a Facebook page
There are only 3 videos on the provider's youtube channel. The last one was published a year ago. It has only 140 subscribers.
https://www.youtube.com/@ProfitsWithUsFx
Telegram
The main source of signals is the telegram channel. There are 5,305 people subscribed to it. The average number of views is 51. Audience engagement is at a very low level and equals 0.96%.
If you look at the number of subscribers, you will see that it has been steadily declining since last year. From about 6,000 to the current number, which means a loss of 50% of the audience. That means the provider has a lot of fake podrisers. In the Telegram channel, the price for premium services is a little different than on the website.
Signals
Let's analyze one of the signals on USD/CAD given on October 25, 2023. The signal was to buy the asset USD/CAD at the price of 1.37606. Stop loss at 1.36800. Take profit at 1.38000. TP2 1.38400. TP3 1.38800. After opening the trade, the price immediately followed the forecast and the trade closed with a profit. Risk/profit is negative in all trades of the provider. With such R/R ratio one can lose capital very easily.
The next signal was given on October 24 to buy gold at the price of 1960.450. 3 take profits were placed at once at the levels of 1952, 1946 and 1940. Stop loss at the level of 1972. After opening the trade the price reached the stop loss. Note that the stop loss is very large and there is a negative R/R. All signals are from the premium group. Nothing is said about the loss.
Reviews
There are same-type reviews on the provider's website. Naturally, as their either negative or neutral reviews there are none. All of them are with thanks about the success of signals. Such reviews on the site raise doubts.
Trustpilot
https://www.trustpilot.com/review/profitswithus.com
There are 32 reviews on traspilot. The average rating is 4.7. The weird thing is that all the reviews all gave it 5 points. There's not even an average. There's a lot of off-topic reviews. A lot of questionable reviews, for example there are 2 similar reviews from 2 two people.
Conclusion
On the public Telegram channel of ProfitsWithUs provider, successful closed trades from the premium group are actively posted without confirmation. The negative R/R ratio and audience engagement is worrying, i.e. less than 1% which is very low. The provider does not give any damage about winrate of 90% and 1000 points per week. We do not know if it has even 60%. Also we don't know traders with 10 years of experience. Who are they?
