2.753 · 10 REVIEWS
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2.753 · 10 REVIEWS
Forex Peace Army

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Traders Reviews

Dec 6, 2006,

have been using prosignal for about two weeks now, and I must say at the moment its worthless.It seems prosignal does not facter in economic data at all,they give buy/sell signals before eco-data releases??? You will lose money very fast with them stop-loss is anywhere between 80-150pips not good. Luckly I did not take any of there trades. I always trade the reaction after data releases, they do not!
May 21, 2007,

It was disapointing as I was expecting to get signals,but instead I had to do the work,which I could do myself without paying a fee
Abilio Remondes,
Jul 18, 2007,

They don,t send signals regularly. No money worth. Its sad.
His Dudeness,
Aug 26, 2006,

They have good support. Can't Win with system anymore. They are sucking. I actually like the product, but 3 of the 4 pairs they give signals for are higly correlated. Sometime they send buy signals for gpb/usd and sell signals for eur/usd. Then turn around and have you buying usd/chf at a top. Lots of mixed signals. Those big ass stops get hit very often.
Horace Case,
Powder Springs, Georgia, USA,
Oct 10, 2007,

I have been using this for about two weeks on a trial basis and have not made or lost any actual money. They have made it very easy to try the system risk-free. They do not even require credit card information. The platform is very user-friendly. They use very large stops so you can stay in the trade even if the price moves the wrong way but you would need a pretty big cushion in a live account to ride out the drawdowns. My view of this is cautiously optimistic.
Los Angeles,
Dec 28, 2006,

I tried Prosignal and I have to say the posted results are accurate. The problem has been in their preformance in '06. 3 months of negative 200 pip lose in a row. I can't vouch for their results before Nov. '05. Also their stop loss are large, usually 90 to 135 pips
Aug 7, 2006,

I have been a subscriber with them for the past 6 months. I was unlucky to enter at the worst period in there performance (march) lost $10k. But since then they have been doing great profit and it's reliable. The only thing is that with a large leveraged account say 100:1 the drawdowns are tough to handle you can loose 300-400 pips in a week and win it all back the next. So if you have a decent size account $50k and are willing to use 100:1 it's good.
Jonathan Bartsch,
Mar 17, 2007,

After trying ProSignal for 9 trading days, I have had success and failure as any trader does in a given time period. Prosignal has excellent support and a very sound and proven tradingstrategy.There is a learning curve of about a month I would guess, to be completely competent with their trading strategy and the use of the Mega Charting Package of "FXtrek". WithProSignals partnership with FXtrek, I think their package subscription of $200/month forcharting and signals is a very fair value as FXtrek desktop Monthly subscription alone is $100/month. There strategy of 2 to 1 (win to loss ratio) with respect to Price Action in relation to Support and Resistance is excellent. Example, they only believe in generating a signal that has the potential to win twice as much as what they can potentially lose and yes, they advise stops. Trades may be stopped out several times before reaching there target win trade and making up for those minor losses. They also believe in very low leverage. 2 to 1 leverage believe it or not. Conservative to say the least, but over time and given a decent full sized account with a compounding effect, one would see their monies grow over a few years. A few things I personally did not agree with is the low leverage strategy - why do they come and trade the forex? Let's face it, in an unregulated market, higher leverage is the only reason to trade the forex! Otherwise, stick your monies in a Panamanian Savings account and earn 9% interest per year; or go back to trading stocks (with accounting fraud and insider trading); or futures/options where only the big dogs profit. 50:1 leverage is better but, on the plus side, the ball is ultimately in your court as long as you can learn to fully trust their signals and have the right sized account $10000 + minimum. FXtrek is a monster charting package in itself. One can automate their own signals from it or automate trend analysis, pivots, etc from custom programs generated and running in the background. Similar but way more involved than Meta Trader. I also did not like FXtrek's choices for Price Feed. There is a good selection of brokers.Unfortunately, all are less than desirable. All choices are from brokers that have higher spreadsthat trade against you to fill your orders. The various broker's thatFXtrekprovides and; therefore, one you must open an account with, have their own best interests in mind - not yours. Keep in mind that ProSignal does. I contacted FXtrek and they have no future plans to add or - what a shame. As long as you meet the requirements and know who is on your side then I would whole heartedly recommend ProSignal as a Signal Provider. Send signals to your email and Cellular phone because signal do come at odd times in a market that never sleeps. Honestly, out of the half dozen signal providers that I have researched and went through their trials, this one in the least hyped and sensationalized. Very conservative and honest. I do believe their track record from July of 2005 onwards, before that keep in mind, results are solely from back testing.
South Africa,
Jun 23, 2007,

This is an honest service and I found the customer support was top-notch. I traded their signals for six or seven months starting March 2006. To begin with I made excellent returns but ultimately came unstuck when the signals went through a bad patch and the drawdowns killed my account. However, I would say this was my own fault for trading on way too high leverage and also taking too much profit out of the trading account to spend! It was a good lesson for me and the only reason I haven't re-subscribed is because I decided take the trouble to learn how to make my own trades.
New England,
Apr 5, 2006,

Monitored their signals for about three months. They post all their wins & losses. They were consistently around 75% to 80% wins until Feb 06. Not very good in Feb & March, but from what I understand they are back on track. I started with a $5,000 mini account and in 2 months brought it up to about $43,000.00. Then in Feb I traded a live account and ouch! Overall I think they are pretty good but 100 pip stop limits scare me a bit.