M15 Signals is a company that promises profitable and accurate signals for Forex and Gold. Headquartered in Singapore, the firm comprises a team of professional traders and experts in the stock market. As per the vendor, traders will have a profitable and easy trading experience with the services the company provides. Almost 90% accuracy is assured by the company.
M15 Signals: to trust or not to trust?
In this review, we have evaluated this signal provider comprehensively. After looking at the various aspects of the service like its features, trading approach, performance, support, etc. we find this is not a reliable company. Before we delve deeper into each of the pertinent aspects that make this an untrustworthy system, let us look at the features this firm offers.
Some of the features the vendor divulges that give it an edge over its competitors are:
- Profit of 1500 to 3500 pips per month.
- Short-term signals of 2 to 8 per day with an accuracy of nearly 90%.
- Alerts are sent via Telegram.
- Works in London, USA, and Asia times.
- Advice provided for managing risk during the trading.
- No manual close option.
- The signals cover 29 Forex currency pairs and gold pairs.
To use the service, you need to pick from one of the premium plans and join the Telegram channel of the company. After verification of your account, you can receive the Forex signals and start trading.
After assessing the features, trading approach, performance, and other characteristics of this service we found the following key factors that make it untrustworthy.
- Unverified trading results.
- Overpriced service.
- Lack of vendor transparency.
- Strategy is not disclosed.
Unverified trading results
The vendor does not provide verified trading results although they have been in the market since 2019. In the FAQ section, the vendor states that all results can be manipulated except when the user tries out the service through the free plan provided. We feel this is just a lame excuse for not posting verified trading results.
Real-time trading stats from reputed sites like myfxbook, FXBlue, etc. provide important details like the profit-generating potential, the risk to reward ratio, drawdown info, and more. By failing to provide authenticated stats the vendor comes off as unreliable. The info provided for proving their performance shown in the screenshot below reveals only minimal details which are not sufficient for assessing the efficacy. Furthermore, there are no backtests too which confirms our suspicion that the company is not reliable.
A paid plan and a free plan are present for this service. Under the free plan, users receive the 2-6 signals daily via the Telegram Channel group of the company. The premium plans include a one-month plan costing $60, a 3-months plan costing $120, and a 6-months plan priced at $190.
All packages include the same features such as 3 TPs per signal, no manual close, 2-8 short-term signal alerts live via Telegram, and assurance of 1500 pips to 3500 pips every month. We find the pricing is expensive when compared to the cost of other similar services. Furthermore, there is no money-back guarantee, which makes the service unreliable.
Lack of vendor transparency
The vendor mentions that the company is based in Singapore and is made of a team of expert traders and analysts that has over 9 years of experience in the field. While the vendor claims that the company has been in operation for two years, we could not find details like team members’ info, location address, phone number, etc. The lack of vendor transparency is another downside that makes us suspect this is not a trustworthy firm.
Strategy is not disclosed
The vendor mentions that the company uses accuracy strategies instead of risk to reward strategies for better accuracy. With this type of strategy, the chances of loss are minimal as per the vendor. But no particular strategy/strategies are mentioned. Nor is there an explanation for the trading approach. The lack of transparency regarding the strategy is another red mark for this company.