FX Leaders are the company that provides forex signals, forex brokers, forex news, forex trainings and other forex services. That is all I, actually, can see in the main menu bar on the home page www.fxleaders.com. If I’m being honest, the website is beyond my understanding as of a trading platform. I get it, we do need to stay updated about current financial situation in the world and stuff, but why place so much news to the description of your software? I am sure that’s just another insidious strategy on how to allure clients and get them believe you, but what to believe? There’s no information regarding the service and the follow-up steps after purchasing or subscribing to the product. The bunch of news posted on the home page is a really good smokescreen for scammers. I can easily conclude that the developers didn’t bother with the system depiction, but the news tack is quite interesting. In other words, you may profoundly educate yourself there, rather than earn money.
Moving further, FX Leaders claims to provide these signals telling traders when to buy, sell, stop loss, take profit for a given currency pair. Mind, that there’s no intel on the currency pair you may trade with, no timeframe info, no strategy presentation. Everything is blurred. They offer free signals, but for paid subscribers, the service is broader and includes phone SMS alerts, email notifications, sound alerts and a training guide (worth $49). There are two ways to get a premium account:
Pay $9.90 per month or $118 for a year subscription, OR
Open an account with their preferred broker and fund it, and you will get FX Leaders premium account for one year free of charge.
FX Leaders – Financial Magazine
You like reading newspapers or magazines? Turn off your TV, that very website is a perfect place to read more about the finance and marketing. The FX Leaders EA is quite a sketchy software. Take a careful look at the address they are registered in, currently it’s 1 Kaf Gimel Yordei HaSira, Tel Aviv-Yafo, Israel 6350801. Now, please, take a look at other reviews, where writes state their former address in 168 1/5 Handelskai, Vienna, Austria, 1020. Two completely different countries, it is very shady, isn’t it? Why would they not only change their name, as earlier it was FX Market Leaders, but also the country they are located. I loathe this apparent lie. Despite their professionally designed website, regular news updates and positive testimonies on their site, there are some unclear details about them that raise doubts about their credibility. Some of these are:
Affiliation with Trade.com Brokers
No Trading Results
Affiliation with Trade.com brokers
Trade.com is introduced as the preferred broker for the FX Leaders EA. It seems that forex traders are being lured to www.trade.com in order to get free access to the premium product. That sounds like an agreement for commission between Trade.com and www.fxleaders.com. If that is the case, then the reliability of their signals are questionable as the entire arrangement could constitute a conflict of interest which would not be beneficial to the users of the robot.
The website clearly states that their signals system is based on trading analysts who make decisions directly into the system and turn them into buy/sell signals. They also faulted systems that use a robot to create forex signals. So, since they don’t use robots, who are these analysts? FX traders want to know who they are so that their experience and success can be ascertained.
No Trading Results
There are no trading results for their signals. They are expected to maintain a verifiable live forex trading account. This live account will use their signals to trade forex. This would have given traders an idea of how their signals are performing in real live accounts. Traders would have loved to follow their day to day trading in order to verify the accuracy of their signals. They only claim that premium subscribers make good profit using their system. The question is this: are they releasing signals just for others to trade and make money?
Most customers who have used their premium signals gave them low ratings.
FIND A BETTER TRADING SOLUTION
First off, at the moment, FX Leaders is being rated 2.7 out of 5 stars. Such deplorable rating leads to lack of trust from the customers side. FX Leaders may be doing a good job with its other value-added services such as provision of forex news, commodity news, signals and other forex resources. But the conflicted affiliation with Trade.com and lack of profitable performance results are big sources of concern. Also, the lack of openness about the strategies behind their trade calls as well as the hidden identities of their forex analysts raise doubt and questions about their genuineness. I would definetely not recommend you the presented newspaper-trading platform, while there’s a way better trading systems compared to this one.