Gold VIP Signal belongs to the De-GreatForexSignal group. The service provides daily signals via WhatsApp. All the signals are generated by expert technicians based in Singapore, South Korea, Nigeria, India, Bangladesh, and Switzerland. They ensure you get profits from your trading. In this review, we have evaluated all major features that influence your buying decision.
Signal services are very popular among Forex traders. The various choices available are proof enough of this fact. Just as with a Forex robot system, a signal service also needs to be vetted thoroughly before you decide on using it.
You need to consider the track record of the provider and find whether the service offers automation. There are other aspects like the trading conditions, broker choice, etc. which further make your selection overwhelming. Luckily, our expert analysts have provided a list of the best signals so you can choose without any hassle. Look at our best signals list now and find how easy it is.
Gold VIP Signal Overview
This signal service is part of the de-greatforexsignal, which consists of a team of professional traders who analyze the market and provide the best signals. As per the vendor, the system uses proper money management so the volatility and risk are handled adeptly. The vendor assures a 90% winning percentage with this system. Our initial assessment of the system reveals that the website is not designed properly. We could find grammatical errors, obscure lines, and the most obvious gaffe is the lack of the signal’s name on the webpage. We could see the broker’s name HotForex and De-GreatForexSignal, but no mention of the Gold VIP signal.
We could not find info on the pricing of the signal service. While the vendor has separate About Us, Managed Account, Signal instructions, and Contact us sections there is no mention of the price. As we mentioned earlier the website needs sprucing up to make it user-friendly.
How It Works
As per the vendor info, you need to create an account with any of the recommended brokers on the website and register it. By using the recommended balance of $1000, the vendor assures more than $300 per month. You pay 40% of the money you withdraw from the account. This seems to be the only charge levied by the vendor.
A trend-following strategy is used by the vendor and it is designed to use the H4 timeframe. Several indicators of the trend-following category are used by the system along with support and resistance levels and oscillators to spot the potential entries and exits. All their trades are given as pending or instant execution. The signals generated by them however do not include spread or swap.
A real USD account trading result posted on the site shows the performance of the Gold VIP signal. Here is a screenshot of the results:
From the trading stats, we could see the total gain is 603.8%. But the absolute gain value is 377.58%. The huge discrepancy in the two values looks suspicious. Similarly, the daily gain of 3.20% and a monthly gain of 165.52% indicate the strategy used has a high level of risk. So, we are not surprised by the high drawdown of 41.11%. Another discrepancy we noted is that the system is not automated. Manual trading with the leverage of 1:500 on the Metatrader 4 platform has been started from March 2021 up to April 30, 2021. Over the two months of trading, 427 trades have been executed with a profit factor of 2.55. The lot size used is 0.50 which is very high.
We could not find user reviews for this signal service on trusted third-party sites such as Forexpeacearmy, Trustpilot, myfxbook, etc. Reviews from such sites ensure the feedback provided is genuine and unbiased. With the absence of reliable reviews from users, we are unable to assess the performance, support, and other important aspects of the system.