Forex Profita Review Update: Your biggest scam of the year, and no one got to withdraw a penny.
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There is this Forex signals service called Forex Profita, and it's promising to make trader's financial dreams come true. Forex Profita claims that they have enlisted the help of real professional traders who actively monitor the markets for signals that they can trade on their live accounts. This would also mean that forexprofita.com is quite transparent if at all they are willing to reveal details of their trading prowess in these accounts.
This signal provider is owned and operated by Admond Brosnan. Brosnan and his partner, Clark Bennet claim to be managing a team of financial analysts and other employees who are making the site a success in their work. There are 3 ways to get in touch with support. Customers can either call, email or Skype them.
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So right now, we want to find out if the site's operations are legit and whether traders can actually trust their signals. It is very hard to trust marketing declarations without first seeing some evidence that this provider is actually trading a live account and with the signals which they deliver to their clients.
First of all, this website seems to be having some grammatical errors here and there. We hope that gets fixed because this issue is really costing them their professionalism. As usual, the homepage meets us with a simple marketing declaration that Forex Profita is currently providing signals for thousands of traders. However, when you dig a little further, you will come across the claim that this service has a little over 500 clients at the moment. If indeed any of these figures are true, it would be bad for the site to assume that there are no discrepancies in the way figures are being presented. Traders want to know which figures to trust. Rather than telling their audience that the service has thousands of clients, it should say that they have a few hundreds of clients.
To start utilizing their signals, it is as simple as purchasing one of their signals plans and gaining access to the members' area where signals will be sent to. This signals provider is not delivering their signals through email or text unlike many other providers in the market. It is not quite clear why Forex Profita is restricting their clients to finding signals through the members area and not through any other means.
For some reason, it is weird that the vendor is telling us somewhere on their website that their signals are delivered through mobile apps like Whatsapp and Viber and yet when traders subscribe to their plans, they are required to check signals from their members area instead of receiving them through the stated apps. This is quite contradicting, and we are thinking there is no need to create unnecessary confusion.
Besides this, Forex Profita is not telling us what kind of trading methodology they are using in order to identify trading signals in the market. So we don't actually know their style of trading or what they are looking for in a potential trading signals before this can be relayed to the client. The site only claims that they are a group of expert traders in the Forex trading marketplace and that they use the same exact signals to trade their live accounts. This lack of information is a problem among many average signals providers in the market. For some reason, most of them are not able to give a complete picture of how their services generate signals.
Forex Profita is trading major pairs in all time frames. The signals are sold under different plans so that clients can simply choose what they believe is best for them. There are 4 different types of plans to subscribe to. However, these signals plans are all the same in terms of features. The only difference is pricing and the number of signals which they can send in a day. Apart from the claim that they are providing signals that win 75% of the time, their signals are delivered with the exact entries, take profits and stop loss so that the trader will not have to figure it out on their own.
The signals are also being offered in both the New York and London sessions. This is also where they say that their signals will be delivered through Whatsapp and a personal account manager will also be assigned to clients.
It is important to note that this service has a trial plan which is costing $30 a week. In this plan, traders receive 3-5 signals a day in order to test their quality. The standard plan on the other hand is providing up to 8 signals and costing $100 a month. There is the business plan which is costing $250. This is paid in every 3 months and it's guaranteeing up to 12 signals per day. The final plan costs $400 and it delivers up to 15 signals a day. This is a 6 month plan.
Forex Profita tells us that they have their most popular plan, which goes for $83 a month. From what we can see based on the number of signals which they claim to send out every day, this signal provider is simply scalping the market. The methodology which they are using to scalp the market is however not known.
Now, Forex Profita is providing us with some results in a section of this site. However, it's worth noting that none of this information can be verified as they did not use a statement sharing website like FX Blue to publish these results. How do we know that they are not cherry picking their winners in order to fool us that indeed their trades are winning 75% of the time? It is hard to trust the information which they are giving here.
We are definitely not pleased by the fact that this signals provider is not meeting our expectations in terms of trading performance. Therefore, we will just stick to these Forex trading resources at the moment.
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