MegaMindFX Signals is a Forex trade alert provider that want to introduce the every day trader to their expertise. They claim to have 15 years of experience in the Forex market, which makes them the perfect teachers and analysts. Today we will be providing a full review, and letting you know if you can trust this service or not.
Despite making claims about their experience, we have no proof that they are telling the truth. The issue is, that they don’t introduce any of their trade analysts, or signal providers. So, they are really just making claims, and not verifying them with any proof. This is common in the Forex signal marketplace with services that fail to produce positive results. If they want to be taken seriously, all they have to do is introduce us to their actual team of traders, given they exist.
The head office is located at 79 Replingham Rd, London SW18 5LU, UK. Support can be reached at +4407874387979 via phone or [email protected]
MegaMindFX Signals Review
Our first impression of the MegaMindFX Signals service isn’t all that good. The website is filled with spelling mistakes, and grammar errors which makes the service come across as amateur or unprofessional. In fact, they spell signals wrong in their main product title in Google, which is a major oversight. It is very difficult to trust a team to provide investment advice, or trading signals when they are making such simple mistakes on their website.
The team makes exorbitant claims as well. They claim that their service has generated 85000 pips of profit, over 7000 signals for 1250 active clients. As much as we would like to believe these numbers are true, there is nothing to suggest that they are. Based on the numbers they are providing, they would be making over $50,000 a month, which would make them one of the largest signal services in the market. Yet, there is little to no information about this service anywhere, which makes us believe that they are being deceptive. They want to appear to be a best Forex signal service, with lots of clients, in order to attract new clients. It’s an old trick, and one that isn’t getting by this review.
The MegaMindFX Signals team makes mention of technical analysis, historical data and current market movements as part of their strategy. They also lean on statistics, chart analysis and indicators. They also discuss funadmental analysis, and the benefits of this trading approach too. The more we go through their strategy, it seems more like an explanation of what common approaches are, but not a detail account of the approach they are using.
A lack of trading strategy is something we take not of in many of our reviews. At times it makes us seem like we are beating the top off of the same drum, but it’s important. Each signal provider, should provide details about their analysts, and the approach that they are utilizing to generate trading opportunities.
We’ve made the same observations in our recent reviews of Easy FX Signals, Trader Pulse and Forex Signal Factory. As potential clients, we deserve to know what strategy or methodology is being used by a service before we sign up. This is a basic request for transparency.
- Type: Signals
- Established: 2018
- Price: $50/month
- Strategy: Technical / Fundamental Analysis
- Trading Time: Undisclosed
- Signal Frequency: Undisclosed
Traders interested in the MegamindFX Signals can sign up for $50/month or lower depending on the length of contract. It costs $100 for 3 months, $150 for 6 months, and $250 for 12 months, so the savings are pretty steep when you lock in for a longer term.
The trading results section of the MegamindFX Signals website provides a “weekly report” that traders can click on to zoom in. These reports really only cover a few months in 2018, and a few months in 2019. They have not shown any results in well over a year, and the results they do provide are not verified by any third party.
At this point, it’s apparent that their trading results are not meeting the market standard. The fact that they haven’t updated their results in over a year is obviously concerning, and makes us wonder if the service is even active in 2020.
Based on all of our research, we find very little reason for traders to sign up with the MegamindFX Signals program. The website isn’t very professional, and they don’t have any trading results in over a year. The only thing we want to do here is poke them with a stick to see if they’re even alive.
If you have anything you would like to contribute to our review, please leave a comment below the article now.
- 4-8 signals per day
- 1000 minimum pips per week
- Signals via telegram app
- No verified results
- Unprofessional website
- No strategy