M15 Signals is a provider focusing on intraday signals for FX and gold on the M15 timeframe. The vendor claims to provide accurate info resulting in profitable trades. As per the vendor info, the company was established in 2018 and is made of a team of professional traders and experts in the stock market. Headquartered in Singapore, the team has more than 9 years of experience in Forex. The vendor does not provide a location address or phone number.
For support, a live chat feature, an online contact form, and an FAQ section are present. To choose a reliable service you need to look into various factors like vendor transparency, strategy, performance, and much more. We have made your job easier with our list of the best signal providers. Find out how easy it is to make an informed choice with our list.
M15 Signals offering
From our evaluation of the official site, here are the main things that the vendor highlights as its competitive features:
- The company has over 100 thousand customers.
- It specializes in delivering 2 to 8 short term signals sent via Telegram daily.
- FX currency pairs and gold are the main instruments this service supports.
- A risk management feature is also present.
- Works during the USA, London, and Asia sessions.
- An accuracy of 90% is assured.
As per the vendor info, the minimum balance needed for trading is $100, but the recommended balance for getting better returns is $400. Since the signals are of market execution type you need to enter trades immediately for better effectiveness.
For using this service, you need to choose from the three premium subscription plans it offers. The cost of the one-month subscription is $60 while the three months and 6 months plans cost $120 and $190 respectively.
Features included in all three plans are similar and include live alerts via Telegram, the potential of making up to 3500 pips per month, 2 to 8 short-term signals, and more. When compared to the price of other similar providers we find the cost is a bit expensive. Further, there is no mention of a money-back guarantee, which makes us suspect the dependability of this company.
How it works
To receive the alerts, you need to first pick a premium plan from the packages and after completing the payment, join the Telegram channel of the company. Once you verify your premium plan account, the company will send alerts that you can use with any broker and execute trades.
The vendor mentions the use of accuracy strategies which reduces the risk of losses considerably unlike other providers that use risk to reward approaches. There is no further explanation of the specific methods the vendor uses. This shows a lack of transparency. The absence of an explanation raises a red flag for this company.
As per the vendor, even verified trading results can be manipulated and the only way a user can verify the effectiveness is by using the trial version via the free Telegram channel of the company. Hence, instead of providing verified results, the vendor provides the history results of its signals as shown below.
From the above results, the info provided is limited to the pips gained, the winning, and the losing trades. The results do not reveal the info like the drawdown, the risk to reward ratio, lot size, and more. We prefer trading results verified by third-party sites like myfxbook, FXBlue, etc. as these sites offer crucial info on the strategy and performance. The lack of verified results raises a red flag for this EA.
We found 28 reviews for this firm on the Forexpeacearmy site with an overall rating of 2.095. Here are a few of the responses from users.
As per the above feedback, the company does not return the profits earned from the investments and is a scam service. Another user also maintains that this is a scam service as it is unreliable and that the free and premium services offer mostly the same features which do not work.