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Signal Factory Review

Signal Factory is a relatively young provider of forex trading signals. According to the company, its signal providers “swap live accounts with their own money,” which sets them apart from other firms in the sector. Additionally, they indicated that they wish to act as a link between expert Forex traders and retail traders in need of real-time support. We examine Signal Factory’s service and overall client experience as part of our review.

Trading signals on well-known financial markets are provided by the Forex Signal Factory, a group of experienced traders. It was established to counter vendors that claim to provide free signals but actually require you to open an account with the broker linked to their service. They were created to counter. FXSF relishes its freedom and the ability to offer free trading signals as a result.

A review of Signal Factory.

More than 45,000 traders are using the Forex Signal Factory service, according to the website. They probably got these numbers from their large followings on Facebook and Twitter, where they have over 13,000 and over 78,000 followers, respectively. Unlike the majority of other free Forex signal providers, this one is genuinely free of charge up to a maximum of $100. On the website, I’ve noticed no upsell, no email request, and no money-making opportunity.

The developers express their dissatisfaction with other services that claim to provide free Forex signals but then demand clients to open accounts with Forex brokers with which they have an obvious affiliation. Customers can continue to trade using their existing trading accounts and will not be charged an additional commission per trade, which is generally imposed by the introducing broker in exchange for referring new clients to the trading platform.

Signal providers don’t reveal much about how they approach the markets in terms of their strategy. Even though this is a free service, I expect to see this type of information in my reviews, so it’s not surprising that I’m disappointed.

Breakdown

– Type: Forex Signals

– Price: Free

– Strategy: Undisclosed

– Timeframe: All Timeframes

Signal Factory’s pricing system is usually included in this section of the review, but I feel compelled to point out that this is a free service. Using a Twitter account and following along with their tweets seems like the most efficient approach to get Forex indications.

Signals are being posted at a rate of 10 to 20 per day, which is extremely frequent. The entry price, trading GMT time, and recommended stop-loss and take-profit levels are all included with each signal.

Traders’ Performance

Because there is no results section available on the Forex Signal Factory website, my own evaluation of their services is severely hampered. Every single free signal offered by the vendor is mentioned on their Twitter account, making it apparent that the provider is open and honest about their free signals. Since 2010, they’ve sent out 97,000 signals, and it’s impossible for me to sift through them all to see if it’s a worthwhile service or not.

It’s ideal if you’re interested in this service, to browse through the tweets from the last few weeks and see if they’ve been providing profitable deals or not. Using the free trading signals on a demo account, and then analyzing these results, indicates that this is too much labor. Going through a million trade signals and back-checking them against past market values would be a very time-consuming task.

Update

The term Forex Signal Factory looks to be used by a number of distinct firms in 2021. I will continue to use this one review to evaluate all of these services because they all have the same name. A telegram group with 34,071 members has started utilizing this name for its signal service.

There is no information offered on the analysts, which is something I would recommend finding out about before you join up for their services. Unless you know who is placing the transactions on your behalf, never use a managed account service.

On Myfxbook and FX Blue, it appears that there are no validated trade outcomes. You can view their trading results by going to the Telegram and analyzing them one by one. They’re a great free resource for Forex signals, but we wouldn’t recommend them for premium signals. The fact that there are merchants in this industry prepared to offer free Forex signals is a positive indicator.

Conclusion

It’s difficult to see why someone would file a formal complaint about the Forex Signal Factory service, given that it’s completely free. I’d want to see more strategy and an organized approach to their trading results, but I can’t really hold the vendor responsible for this. For nothing, they are giving the community access to free Forex signals.

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