Breakfree Trading Review: Is it legit?
Welcome to Breakfree trading review. Breakfree trading (BFT) is a website that claims to offer a new and simpler way to trade the financial markets.
They believe that the “old way of trading” no longer works and is very complicated.
However, with the Breakfree trading system, they claim that traders can easily compound and multiply their money from anywhere in the world.
Now, most financially unsophisticated people will find the above statement quite appealing.
Our review lets you know whether Breakfree trading is legit or a scam.
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Breakfree trading review
The “trading system” comes as a 3-in-1 package.
These include the proprietary trading algorithm itself, 12 hours of video training course and a community of over 1,800 members to interact with.
The company behind this trading system is known as Breakfree Trading Inc.
Their website, Breakfreetrading.com, was created in May 2018.
They also claim to have a network of other sites under Breakfree Trading Inc.
We’ve tried searching for more background information about the company but to no avail.
It seems that this “company” was never incorporated. Otherwise, a Google search would bring up positive results.
We can also see that Breakfreetrading.com is a very popular website.
According to Alexa, most of their traffic is coming from social networks and referrals. This means that the owners of Break Free Trading are aggressively marketing their product.
The question is that if BreakFree Trading system was that good, do you think there would be a need to aggressively promote the website?
Very unlikely!
BreakFree Trading Review: The algorithm and details
The vendor claims that their algorithm processes and decodes financial markets in real time.
It scans over 100,000 financial assets in a minute. BFT is allegedly going to pick the good trades and filter out the bad ones.
It is then going to ask you to buy or sell an asset based on its judgement.
The trading system works in every kind of financial market, whether this is in Forex, stocks, commodities, metals, indices or Crypto.
According to “BreakFree Trading Inc”, the system was subjected to a “stress-test” for 1 year and it returned an accuracy rate of 70.3% in determining price reversals.
They also claim that it will adjust risk according to one’s equity. It never risks more than 5% of your account balance in one trade.
Additionally, the vendor claims that BreakFree Trading system is what they use on a daily basis for trading.
If this is so, we believe that the vendor is in a position to produce their redacted broker statement showing the trades they took using their system.
They also want traders to know that this system is so diverse and even compatible with over 120 different trading platforms.
They’ve listed down a number of compatible brokers including FXchoice, ICMarkets, Interactive Brokers among others.
Breakfree Trading requires 30 minutes of your time every day. It does the rest for you.
Breakfree Trading Review: trading results
After going through the sales page, we were very much interested in seeing their verified live trading results.
Indeed the vendor has provided a 3 months sample of “trading results”.
They tell us that they started with $10,000 on a live account and grew their equity to $29,664 3 months later.
As you can see, these trades could have been cherry-picked and therefore real or could have been fabricated for the sake of marketing.
The bottom line is that there’s no assurance that the results they’re trying to show us are real.
This is why we prefer vendors who use statement sharing platforms like myfxbook.com.
With myfxbook.com, vendors of trading systems actually have more time to focus on their trading system instead of worrying about how to present results.
In fact, myfxbook.com makes vendors look very professional in the eyes of potential consumers.
A vendor with a verified myfxbook.com wins trust instantly. Unfortunately, this is something that Breakfree Trading has refused to use to pass their message across.
So how can they compete with vendors who use myfxbook.com results?
And how different is BreakFree Trading from trading products like FX Vortex, Winning Solution System, TrendSpider and many others that don’t show verifiable trading results?
You need to think about it before you even consider signing up for Break Free Trading system.
For us, we’re not convinced that it is as profitable as the vendor claims.
Consumer feedback or reviews
The only reviews that we see can be found on the controversial reputation building website called TrustPilot.
We’ve always said that TrustPilot is where anyone wanting to fabricate a testimonial can publish.
It is the Mecca of fake trading reviews. Almost anything that appears on this website is a lie.
We also see that Forex Peace Army admins created a thread hoping to see traders contributing regarding their experience with BreakFree Trading system.
This thread has not received any response.
It is literally a ghost town thread, which simply raises questions regarding the legitimacy of TrustPilot reviews.
The other reviews we can find are on their Facebook page. Of course these reviews are unverifiable.
How do we know whether the reviews in question were published by the admins of this page but using different pseudo accounts?
Conclusion
We don’t want to be too stupid so as to believe that BreakFree Trading is the next big thing after we’ve seen many indicators come and go.
The only thing that matters in 2020 is to see that a trading product vendor is using a myfxbook verified account to display their trades and authenticate their claim to fame.
Otherwise, we consider Break Free Trading just another sales page promoting a magic trading indicator.
Yes, they do provide free 7 day trial for this product.
You can use this to test the trading indicator but at the back of your mind, you should know that a week’s trading sample is very short and insignificant.
You cannot use this small data sample to judge potential results in the future.
We usually look for 6 months track record of trading to determine whether or not a system is profitable.
Thanks for reading our BreakFree Trading review. We don’t recommend this product at all.
Dave
I used breakfree trading and wanted to cancel before the 7 day free trial after which they charge you $60 per month. I have made more losses from their signals. They provide support from 10am to 7pm. When I sent a message well within their opening hours, I received a response that they are closed for the day, even though it was Thursday a normal trading day. This was to ensure I could not cancel before the free membership ends.
I would not suggest this for anyone. Both the young guys behind this product do not really understand trading either, based on their videos so most likely they have bought this algorithm from somewhere else.
Paulo
Thank you for your opinion Dave, I came across their ad in Facebook and immediately found it sketchy.
Peter
It’s a scam. They make good money with their subscription fees alone. If their system would work they could easily use the money they make from subscriptions and use it for trading and then post their myfxbook. Their system doesn’t work.
An angry BFT ex-subscriber
I started live on May 2020 and after 3 months, I was losing 20% of the trades. They have a telegram group and the people inside are mostly sheeps. Whenever it is a bad day, they will tell you to have faith and trust in the algo. When there are gains, they will praise the algo as if it was the next best thing.
There are 3 areas which BFT did not tell you,
1) The 1:1.7 risk reward is not what you think
The thing is, for 100,000 assets, there should be some markets that the algo is successful with, but I have my doubts about their “70.3%” winning rate. They claimed that their risk-reward ratio is at 1:1.7, but it is only achievable if the price managed to hit their 2nd take profit price (TP2) which for over 3 months, I hardly seen any of the signal in the FX market achieved it. The rate of the signal returning 1.7 profit is so low, you will not be profitable.
2) The subscription + drawdown will not make you profitable using this algo
The team recommended a 1000USD account for profitable trading with the algo. However the team do not share or may not have, what is the maximum drawdown to expect from the algo. Like what the article said, the team has time and time again refused any challengers in the tele group to share any myfxbook journal of their trades. Personally for me I have a 1000 account in Oanda, lost about 20% in the first month, the signal recommends a 3% risk for every trade (which loses more than gain). In addition, I have to pay subscription for every 3 months and I have not even mention the broker fees. It is almost impossible to get back to break-even with this algo.
3) This is not really for beginners
The admins in the group claimed that if you are an experienced trader, you should be able to judge if the signal has a high probability of winning. I came in as a new trader, without any prior experience of price action, the course recommends me to take the signal and have faith (except for not trading more than 2 of the same currency), and it was the same recommendation that caused me to lose my money. Whenever I goes to the group and rant about it, members will tell me that I would still need discretion when taking the signal.
It does not work as advertised, what kind of breakfree trading did it achieve if a trader still need discretion? The algo just calculated the support and resistance levels over multiple timeframes and indicate a certain level is strong because of the confluence over the multiple timeframes.
BFT are making YouTube videos with their subscribers’ “success stories” as part of their marketing campaign, I don’t see any myfxbook records or trading history from these successful folks. These are all 30 minutes of self-satisfactory review videos. If any of you guys are convinced by it, don’t be rash!
Emitt Evans
According to these reviews, Break Free Trading sounds like a broke joke.
hoong
ok
Rabie Georgey
I am a current customer of break free trading, i am very happy with the results i received, the customer service and the informative and supportive community they have created. alot of these bad review can not be trusted. i signed up for the pro package and its well worth the money. you got nothing to loose i think everyone should sign up for the 7 day trail.
Emil Karlsson
Wow. The fact that you are stating “you got nothing to loose” gives away what you are really trying to do. Obvious fake user, lol
Rabie Georgey
Emily my name is Rabie I been a paid member since march of 2021. Break free trading offers a free trail for 7 days. the 7 day trail is risk free there for you got nothing to loose. I am very happy with break free trading.
Rabie Georgey
Emil where is your review