M15 Signals is an FX signal provider offering trade alerts for FX and Gold trading on the M15 timeframe. The vendor assures full accuracy and reliability claiming that the service is offered by a team of trading experts. As per the vendor info, the company has been in operation for nearly two years and has assisted more than 100000 traders.
The team members have over 9 years of trading experience and provide quality professional services and guidance to customers, according to the vendor. Other than the mention of the firm being based in Singapore, we could not find other company details like the location address, phone number, etc. The inadequate vendor info raises doubts about the reliability of this company.
The highlights of M15 Signals
Here are some features that according to the developer set M15 Signals apart in the market:
Live Telegram alerts
The alerts are sent via the Telegram channels of the firm to ensure subscribers get them on time. For traders to receive the alerts irrespective of where they are located, the signals are sent between 8.00 and 9.00 GMT.
You can receive alerts for 29 Forex and Gold pairs. Along with the basic info like SL, TP, etc., the vendor also provides risk management advice. The expert traders of the team give recommendations and guidance on managing risk when you trade.
Unique trading approach
Unlike the common method of using risk to reward approaches, the vendor claims to use accuracy strategies. The new approach helps to minimize the risk level which is not so with the other methods.
We find the risk management and strategy info provided are not sufficient to know the efficacy of the service. The lack of transparency raises a red flag for this company.
Trading strategy of M15 Signals
The trading approach is a vital part of the process that ensures you get maximum returns. But the vendor does not provide adequate info on the method used which raises doubts regarding the reliability of the system.
To make use of this service, you need to pick from the three different premium plans namely the one, three, and six-months plans. Once you choose an appropriate plan, you can join the Telegram Channel group of the vendor where you can verify your account. After verification, you will receive the signals from the company which you can use with any broker.
We could not find backtesting reports for this service. By failing to provide strategy tester reports, the vendor raises suspicion on the dependability of the firm. While it is true that the tests are based on historical data and do not predict a similar performance in live trading, they still provide useful info. With the strategy tester report, you can have a better insight into the approach.
Trading results in real time
A separate section of the site is allotted to display the performance results. Here is a screenshot of the trading history results.
From the above report, we can see the details present are minimal. You can know about the winning and losing trades and the pips you won. We prefer trading results verified by sites like Myfxbook, Forexpeacearmy, etc. Such sites reveal detailed info on the trading stat: drawdown, lot size, the risk to reward ratio, and more. The absence of a verified track record raises another red flag for this company.
M15 Signals price
Free plans are present for this company. You need to subscribe to the Telegram channel group of the company to receive 2 to 5 free signals per week. Paid premium plans are of three types namely the one-month plan costing $60, the three-month plan costing $120, and the 6 months plan priced at $190. Some of the features common to the three paid plans include 2 to 8 short-term trade alerts via Telegram, a 90% accuracy, profit of 1500 to 3500 pips, 3 TPs for a signal, risk management advice, and no manual closing of trades. No money-back offer is present for this service.
For customer support, a live chat feature and an online contact form are present. Here is a user review for this company indicating poor support.
Are traders happy with M15 Signals?
We found user reviews for this company on the Trustpilot site. Here are a couple of the reviews:
From the reviews, it is clear that the service lacks efficiency and transparency. Users complain about the bad signals that end up in big losses.
M15 SignalsM15 Signals
Customer Testimonials1/5 Awfully
- Free signals
- Risk management advice
- Lack of vendor transparency
- No proven track record
- Expensive pricing plans