Smart Forex Trades Review: Scam Forex Signals? - Topedgefx.com

Smart Forex Trades Review: Scam Forex Signals?

Welcome to the Smart Forex Trades review. Smartforextrades.com sells Forex trading signals through the Telegram app. They charge $35, $50 and $90 respectively depending on the duration of subscription.

Smart Forex Trades believes that they’re the right people to “skyrocket” your Forex account with their “trusted” signal alerts.

Smart Forex Trades domain was registered in 2018 but did not provide any Forex trading services until the year 2020. At the same time, they claim that they’re a team of 3 Forex traders with 10 years of experience.

Obviously this information is questionable because this team is anonymous and there’s no way they could have provided Forex signals services with an incomplete website or no website at all.

Furthermore, someone with 10 years of trading experience should provide verifiable trading performance or at least provide some evidence of successful trading.

Smart Forex Trades Review

 

As at now, Smart Forex Trades does not have a location and their contact page is not setup yet. There’s no phone number or email to reach them with questions prior to purchasing their FX signal alerts.

They just expect clients to click the PayPal “buy now” button and from there, I guess their clients will somehow find a way to contact them using their payment email.

Of course traders don’t want to go this extra length just to contact a Forex signal provider.

Also, this is quite a setback and we could have just ended this Smart Forex Trades review right here.

However, since they’re announcing abnormal number of pips acquired in the past months, it would be fair to analyze their service to find out whether it is indeed true that Smart Forex Trades Forex signals are truly viable.

In the meantime, if you’re looking for a sure Forex signal provider or an automated trading system to use, we advice finding some good companies or tools to trade with on this page. 

Smart Forex Trades review

Even if we wanted to trust this signal provider, it would be difficult to do so because their identity remains undercover and so is their location.

The only thing they can tell us is that their history is 100% legitimate and unedited. How do we trust the vendor on this?

Moreover, they proclaim that Smart Forex Trades signals have an 85% win rate and are provided with a stop loss and 3 take profit levels.

They tell us that with their Forex signals, we’re guaranteed to succeed in the FX market. The team’s Telegram channel states that up to 2 high-quality free signals will be sent daily.

According to their Telegram channel, Smart Forex Trades generates signals through news and Technical analysis. For more information, they’re directing customers to read on the smartforextrades.com website.

On the paid plans, Smart Forex Trades provides between 3 to 7 signals daily. They also promise 1000 to 2000 pips every month, of which they’ve also provided “trading records” in screenshots.

They claim to provide tips on money management in addition to support during working hours.

Trading strategy

In every signal provider review, we always provide a short analysis of how the signals are generated depending on the explanation of the vendor.

We’ve done so with our previous reviews for signal providers like Currency Wolf, Forex signals Club or Arbtrader Signals.

Unfortunately, there’s no clear information regarding how Smart Forex trades perform their market analysis.

They briefly mentioned on their Telegram page that they study the market using technical analysis.

However, the term “technical analysis” is so broad. It does not describe the specifics which we need to write this part of our review.

Even if Smart Forex Trades cost of subscription is on the bottom of the food chain, we still believe that traders can’t subscribe if they’ve not been told how signals are generated by these traders.

We need a proper disclosure of their strategy in order to feel inspired about their service and hopefully consider paying for a subscription. Otherwise, their free signal plan on Telegram would be the way to go.

Smart Forex Trades trading results

This signal vendor has proclaimed that their earned pips are standing at 34,983 pips up to date.

They’ve also provided some screenshots of their alleged pips earned during the period of time they claim to be trading Forex. According to the screenshots, the smallest pips they’ve earned in a month is 541 pips.

Of course this would be amazing if we could find a way to authenticate these results.

Unfortunately Smart Forex Trades does not provide a way to verify their alleged trading results and pips achieved.

They could have easily fabricated those results, which is why we don’t trust screenshots.

Also, if they believe to be so successful, we don’t see any reason why they can’t document their trading results using a statement sharing platform such as myfxbook.com.

For them to be competitive in the signal selling business, they must use myfxbook.com as opposed to documenting their “trading results” in this manner.

Customer reviews

There are no reviews or customer feedback regarding this signal service.

This is a major setback and we actually find it strange that despite claiming to remain profitable every month, they haven’t found even a single customer yet. It appears their trick of marketing through fabricated screenshots don’t yield any results.

Whatever the case, if they manage to convince a few traders, we’ll probably see reviews showing up on the internet.

However, for now we don’t have any reviews about this signal provider.

Conclusion

Smart Forex Trades is definitely a no for a serious trader wanting to build a career in trading Forex.

They should be transparent enough with their results as well as their identity.

We also feel that a signal provider with no customer feedback is quite suspicious especially if they continue to announce positive pips every month with no losing month at all.

Thanks for reading our Smart Forex Trades review. We want to hear your opinion regarding this signal provider and if you want a serious Forex signal provider, please find a good company on this page. 

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