SWIQ© Forex Signals was established in July 2020 but claims to have attained +25,000 pips with a success rate of 91% in 2019.
Obviously the vendor was not in business back in 2019, so we’d like them to provide an explanation of how they were running the service without an official web presence.
This is critical because earning a slot in our most coveted list of recommended trading products and service is never easy.
SWIQ© ForexSignals also claims there are over 3000 members worldwide who trust the performance of their signals.
These claims appear to be far-fetched and so we will strive to get to the bottom of this to ensure nobody is making the mistake of subscribing without our direction.
In the meantime, we also wanted to know who owns or runs this service and from which part of the world.
The service is operated from the website swiq-forexsignals.com (which is anonymously registered) and charges €29.99 in monthly subscription fees.
It is possible that they’re working out of Europe. There is a possibility that the anonymous vendor is operating from a home office as the service does not have a definite location.
Currently we can contact them from the official website because no email or phone numbers have been provided.
SWIQ Forex Signals review
SWIQ© Forex Signals fails to disclose who owns or runs the service.
This means that we can’t verify their trading experience.
We feel that this lack of transparency is not consistent with the message that SWIQ© Forex Signals is preaching across their sales copy.
The only thing that this vendor has is a professional-looking website.
The vendor advertises “high performing Forex signals” and then goes on to say how unique their service is.
They remind us that SWIQ© Forex Signals makes 2K pips monthly on average.
The rest of the sections on this website talk about compatibility of the service with any Forex broker, monthly subscription (where signals are delivered through Telegram) and an invite to ask questions.
SWIQ© Forex Signals Trading Strategy
In as much as this service is providing some insights on how they trade, the strategy is not clearly stated.
They tell us that the signals are generated through a combination of price action, technical and fundamental analysis.
They believe that this is why their signals are unique,
For us, we feel that this is a shallow and more general description of how signals are generated.
We needed more information such as how trades are managed, what deposit is best for working with the signals etc.
Breakdown of the signal service in details
These are the key highlights regarding how this service is offered to subscribers.
Forex pairs: Major pairs like EUR/USD, GBP/USD and USD/JPY
Frequency: 5-10 signals per day
Mode of Delivery: Telegram
SWIQ© Forex Signals provides a performance page on their website.
The performance page is nothing more than number of pips won from the month of January 2020 up to now.
First of all, we do not approve performance results if they are presented in this style because doggy vendors are always cherry-picking their trade results or manipulating the figures to appear profitable.
At the moment, there is no maximum transparency in these results.
The competitors of this signal provider are currently documenting their results on myfxbook and we feel this is the most transparent way to demonstrate achievement.
Therefore, this presentation is short of what we expected from this signal vendor.
We do hope they will consider adding a myfxbook account for the purpose of convenience and transparency.
SWIQ© Forex Signals reviews
I’ve not seen any reviews of this signal service except from TrustPilot.
Endorsements from this platform are always questionable since the owner of this reviews platform will pocket at least $200 monthly for doggy vendors to post and moderate fraudulently produced reviews.
Therefore, the best way to tackle this issue is to start posting your feedback on the comment section of this article as there will be more transparency.
There is no way we will recommend this signal service because their performance lacks transparency and their introduction is full of lies.
The vendor can rectify these things to start building their reputation or ignore the shortcomings and end up with a bad name.
Thanks for reading.