M15 Signals is a telegram based Forex signals vendor with sparse strategy insight. The vendor is allegedly operating out of Venice, Italy. On their sales page you will see screenshots of expired signals with little or no trading direction. Apart from this, there is nothing much interesting we saw on their website.
There are 4 pricing plans available to subscribe – Free plan, 1month Premium, 3 months Premium and 6 months premium plans. All claim 90% win rate. Focusing on the Premium packages, signals frequency is 2-8 signals /perday, 1500-3500pips per month and 3 Take profits signal. The signals time is Asia, London and USA; signals asset is currency and gold while the strategy is based on risk management advise.
The Freemium plan comes with most features of the paid plans. The difference is in the number of signals expected per day (2-5) and pips per month (250-600pips).
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What is M15 Signals (m15signals.com)? Either is M15 Signals scam or legit?
M15 Signals Scam
- M15 Signals is a program that claim to sell profitable signals. Traders can follow the signals blindly knowing that their trades will be placed exactly at the designated times. Sounds easy, right?
- Forex signals like m15 Signals are getting a lot of hype of late and Forex signals scams are not far behind. The promise of Forex Signals is that it will make you between 1500-3500 pips per month.
- We confirm that m15 Signals is a scam, since M15 Signals failed to provide a verified result to back its claim.
- Most Forex signals scams are easy to pinpoint and would seem obvious to any investor. But even with blatant false promises of huge profits “while you sleep” millions of dollars are dropped into these Forex Signals scams every day.
M15 Signals Vendor
A little research shows that their website and facebook were created a year ago. Both platforms were created to drive clients to their telegram channel. Now, no information were provided on the persons behind the lucrative signals you are buying. We could not track the experience and activities of these people in order to ascertain the efficiency of the signals.
M15 Signals Methodology
Aforementioned, the M15 Signals lacks in strategy explanation. Apart from what the features they mentioned under each pricing plan, no where on their website they explained the actual method their analyst use to pick a trade. You will not see them explain import strategies for technical analysis.
A method of forecasting market movements in the commodities, equities, or futures markets that analyzes price movement, trading volume, open interest, and other numerical and chart-based data. Technical analysis doesn’t consider fundamental factors such as supply and demand.
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M15 Signals Result
M15 Signals provided a table showing trading stats updated from December 2018. Now, this is a good innovation. The problem with this kind of approach is that, there is no way we can verify the authenticity of this kind of result.
The right thing to do in 2020, is to upload a verified result on a third party statement sharing sites like myfxbook and FXBlue for us to track.
We have also observed that this website is not as professional as those belonging to serious developers who sell serious products.
Conclusion
Because Forex trading is still relatively unregulated, the number of scams seem to be ever-increasing. One area in which this happens on a regular basis is with signals/ automated Forex trading bots. Many of the systems make some pretty unrealistic claims, and promise a successful trading career, even when you’re asleep. They even seem to be able to publish positive results on their sites. However, a word of warning: These amazing results are often the result of back-testing, or based on hypothetical results.
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