Forex Signals Review



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Forex Signals Review

30.09.2007 16:11 Sunday

Forex Signals, known familiarly as FXOS, issues bulletins once or twice a day, depending on market conditions. Each Forex Signal contains just three numbers for each of the major currency pairs: exact entry, stop-loss, and take-profit. It does not contain charts, graphs, editorial or anything else. The information provided and its presentation are the most basic of the basic. There is no guesswork and no strategy decisions to make.

The maximum number of currency pairs for which a subscriber can receive Forex recommendations is six: EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD, and AUD/USD. These six pairs (one pair is one signal) are automatically generated for all but their top-of-the-line product, for which you can select the pairs. This has some significance because of Forex Signal’s unique fee structure, a type of pay-per-signal pricing.

With Forex Signals, there are no yearly or monthly fees. Instead, the subscriber deposits a sum of money, starting at $100 USD, which is converted into credits (1 credit=$.05 USD). Each currency pair is assigned a number of credits ranging from 0.5 for USD/CAD to 4 credits for EUR/USD. These credits are deducted from your total deposit. So, if you received a EUR/USD signal once a day for ten days, you would have 40 credits deducted from your deposit.

You can add money and change receipt specifications at any time. You determine how you want to receive the signals (e-mail or text message), which days you receive the signal, and for how long. Thus, you customize the subscription terms of the service.

To begin, FXOS offers three products, the Mini, the Standard, and the Pro. Each product requires a minimal set-up fee: $17.95, $34.95, and $87.95 respectively. The difference between the three is the amount of flexibility and level of participation in a credit-back program.

As you might expect, the Mini package has the least flexibility. It does not allow you to choose currency pairs and has no credit program. The Standard does not permit you to choose pairs either, but it does offer credit allowances. Both the Standard and Pro give you free credits on your initial deposit, 5% or up to $50 for the Standard, and 15% or up to $150 for the Pro. They also will credit back your signal cost if the advice does not yield a profit. That should give subscribers some level of confidence in the company’s predictions.

The sign-up process is quick and easy. FXOS accepts online payments through PayPal, bank transfers and Western Union wire transfers.

Forex Signals is simple service. If you want to know how the advisors arrive at their advice, or you want to get more information about the current conditions in the FOREX market, you won’t find it here. Forex Signals does offer beginners a solid FOREX glossary and does an admirable job of describing their products and answering any questions you might have.

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