August 9th, 2009 
admin 
ForexOnlineSignals.com
ForexOnlineSignals.com is a very simplistic forex signal provider – it provides signals for 2 market sessions: 00 to 12:00 GMT and 12:00 GMT to 23:59 GMT. First impression is of a simple and stratightforward signal provider. Signal are provided without any analysis or charts – simply entry point, stop loss and take profit position. Signals are sent via SMS and Email, and are covering 6 FOREX pairs.
Nevertheless, this providers shows disturbing anomalies in its reported performance and should be treated with caution.
Trading Style
At first glance the reported performance seems satisfactory as most months are profitable. Looking inside the historical trades, one can get a different picture.
First of all, Stop Loss and Take Profit for trades are generally equal which implies that Risk:Reward ratio is very poor. Trader needs to have an astounding hit rate in order to be profitable with such money management.
Second of all, the historical trades page does not report trade entry time, which makes it very poor reporting with little value at all. If entries are given at the beginning of the market session, results are very different from those reported.
Most disturbing of all, we have found evidence of anomalies between reported profits and actual price. Example is the AUD\USD trade at 6th of August, 2008 (link):
AUDUSD FOREX Trade, as reported
AUDUSD Chart at 6th of August
While a mistake like this can be an honest mistake, historic performance are less than reliable and even if so, the low Risk:Reward is very unprofessional.
Trial
Trial period is not available.
Pricing
Pricing is per signal, that is, client purchase credits that can be converted to trading signals. 17.95$ for Mini package, 34.95$ for Standard package and 87.95$ for Pro package.
Conclusion
1/5
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ForexOnlineSignals.com
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