Element Forex has created the Profit Goldeneye MT4 indicator which costs $49 per copy.
While it’s cheap and convincing, this does not necessarily mean it will generate consistent returns like these products that we recommend here.
It is not a free indicator as many of those looking for information about it believe.
The developer also claims that they have the best trading system that costs peanuts compared to other Forex trading systems that cost thousands of dollars.
The Profit Goldeneye is allegedly suitable for trading Binary options, stocks, metals like Gold and Silver in addition to Commodities.
According to the developer, the Profit Goldeneye is the best trading system that outshines competition because it’s created by the top programmers who implements the vendor’s algorithms and strategies.
Buy signals will be provided in green while sell signals in red. Trade alerts are accompanied by a voice that says “Goldeneye alert”!
The developer believes that this is much better than hearing the generic sound of an MT4 bell for your alerts.
Today, our review will find out and let you know whether this MT4 indicator is truly profitable.
The Profit Goldeneye Review
The vendor’s website utilizes a long sales pitch and a traditional approach to sell their indicator.
We don’t like these long boring sales copies as they’re quite cumbersome to go through, so we’ll pick the most important points.
The most outstanding features of this indicator are:
2.Multiple trading styles such a scalping, mid and long term trading
3.Multiple built-in confirmation tools
4.Trade signals based on one trend only
Most of the features above don’t sound as interesting as this developer would want us to believe.
For a trading system that beats the competition, we expect much more than just a list of basic features and advantages.
This is not coming out quite clearly.
Who’s behind the Profit Goldeneye Indicator?
The sales page introduces someone called Gavin Jacobs. He is the head manager at Element Forex.
The salespage claims that Element Forex is an international Forex research, coaching and educational service.
But we have no evidence of this vendor engaging in those activities except selling of this MT4 indicator.
They also have another product called Element FX. This one didn’t inspire us so much so as to do a review.
Anyway, nothing is known about Gavin Jacobs despite their website running since June 2012.
The developer of The Profit Goldeneye does not talk about the specific strategies or trade approach used in their indicator.
We would like them to shade more light on why they think this indicator is profitable compared to the systems that are currently in use in the Forex marketplace.
It isn’t enough to just say that the Profit Goldeneye indicator is made by the top programmers who implemented the companies algorithms and strategies.
We want to hear the specifics before we can opt to spend $49 on this product.
Trading performance of the indicator
The Profit Goldeneye has disappointing performance because we cannot verify the authenticity of their results.
They have a trading statement on their website entitled “profit made in just 2 days”.
The table is just showing profits and no losses. This gives the impression that the developer cherry-picked their trades for marketing purposes.
Furthermore, a simple image file like this one can simply be created with any photoshop software.
So we stopped believing these results from vendors and prefer that vendors should actually sign up for a free myfxbook account if they want to be taken seriously.
In conclusion, we would not recommend The Profit Goldeneye to any serious trader because it fails to meet basic requirements.
There’s zero trading performance to even consider recommending it.
We also feel that the developer is not properly explaining the reason they think their system is profitable.
The Profit Goldeneye is a very old indicator by the way. It is not popular and so chances are that it is not profitable.