UK Forex Signals Review – Another Scam?
UK Forex Signals is a company that believes they can reduce your losses and increase your odds of making money in Forex trading. In addition to that, their sales page states that they can help newbies learn how to place trades and take advantage of the numerous opportunities that the Forex market has to offer.
The very same sales page also claims that this company is on a mission to give out their ”secrets” to all traders who are interested because their signals are of quality. They are targeting both wealthy traders and those who are not wealthy.
UK Forex Signals also claims that they have been ranked number 1 signal provider and that they are among the top 3 all time authors on the Tradingview.com platform.
These claims might be true. But again, they don't say anything as to whether or not we should trust UK Forex Signals with our money.
Therefore, in this review, we shall be going into details to analyze this service. Then we will make a conclusion based on our observations.
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UK Forex Signals Review
UK Forex Signals is registered under the name of someone called Tom Hall. So it is probably owned by this person. However, this detail wasn't revealed on the sales page of the UK Forex Signals company. We had to research it outside this website.
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Generally, this website does a very poor job in introducing who they are. As it currently stands, we do not know whether Tom Hall is a professional trader or not. We do not even know his team. It is extremely difficult to ascertain the qualifications and credibility of these people since the website does not talk about the people in charge of analyzing and producing Forex signals for for this company.
Nevertheless, there is a strong emphasis towards marketing the signals which they are providing on this site. The provider is actually working very hard to paint their business in a positive light. This is certainly very common with signal providers who are looking to lure in more customers in the meantime.
Based on the name UK Forex Signals, we can figure out that this company is operating business out of the UK. This is self explanatory. However, the exact address has not been provided. But a contact form has been provided on the official website to allow potential customers make inquiries.
This is not bad at all. We are only concerned with finding out whether or not this company is providing plans that are worth subscribing to.
One of the main features that UK Forex Signals is using to attract new clients is the free analysis feature. When you subscribe to their signal service, you will get free daily signal analysis via their social media pages.
The company claims that this is the best way to provide a transparent service which re-assures traders before entering any trade in the Forex market.
On top of this, the company is claiming that they have been recognized among the top 3 authors in the TradingView platform.
What is Tradingview by the way? Tradingview is a company that provides free and paid charting services to traders all over the world. In addition to that, they are also offering traders the chance to publish on their platform, the same way blogging is done.
Does this mean that anyone publishing on Tradingview is legitimately offering Forex signals that can make you money? Not at all.
Is there any form of requirement to start publishing trade analysis on this platform? Again, No is the answer. Basically, anyone with an email address can sign up.
One thing to realize is that we do not have proof yet that UK Forex Signals was recognized among the top 3 authors on this platform. And even if this was the case, we can tell you for sure that this approval means nothing. This is something that we cannot use to rate this website.
Overview of services offered by UK Forex Signals
While trade analysis is offered for free, getting signals from the UK Forex Signals provider requires a subscription.
There are 3 plans to subscribe to. The first one costs £29.99 per month. The second and third plans cost £74.99 and £199.99 respectively.
When you choose the second plan, your subscription will be covering 3 months of trading their signals. When you sign up for the third plan, you will be receiving their signals for 12 good months after which your subscription will expire.
All plans come with 4K Video analysis of the signals which they are looking to trade. According to the company, this is meant to build confidence in traders who want to be sure that they are trading these signals the right way.
On top of this, all plans come with a verified myfxbook account, multiple payment options and 7 day customer support. We are not sure why clients have to pay in order to even gain access to this company's verified myfxbook account. By the way, what is the purpose of a myfxbook account?
Well, by now, you should know that a myfxbook account is useful when trying to verify trading performance of a particular software or signal provider. This must be provided prior to any money changing hands. But in this case, UK Forex Signals is only giving access when you have subscribed to the service already. We do not know how this is supposed to work. It is very suspicious indeed.
Trading performance
When clients are looking to verify the authenticity or quality of signals offered by this company, they generally have to trust that this company will offer them quality signals to trade.
In today's Forex market place, all vendors are expected to provide their verified myfxbook account prior to asking their prospective clients to send them money.
It is a little bit strange to see that UK Forex Signal is claiming to be a professional service yet they are ignoring the very little things that add to the credibility of a company.
Generally, we are not confident subscribing to a signal service whose vendor is not willing to prove their performance. It would be like playing Russian roulette with money.
Customer feedback
Customer feedback is extremely important when it comes to verifying the authenticity of a signal provider.
We really don't know why UK Forex Signals is not getting any feedback from their alleged customers. Again, this is very strange because we expected to find a couple of reviews and testimonials about this service. So far, there has been none, which makes us question the length of time that they have been providing signals and whether or not they have subscribers at all.
Our best advice for you
Unfortunately, UK Forex Signal did not meet our expectations. The first thing that put us off is that prospective customers were required to subscribe to any of their plans in order to get access to their live myfxbook account. Secondly, we do not have records of previous customers giving their testimonials about this service. It is very strange because we do expect a professional signal provider to work with a number of customers. This isn't the case here.
Therefore, we have no choice but to skip this one too. We will not be recommending them to our readers.
December 16, 2017 @ 10:28 pm
Hi,
I am Tom Hall ( Founder of UK Forex Signals )
There are many false claims above which I would like to address.
Firstly Myfxbook results are live on Myfxbook which means they are not hidden along with a link on our FAQ page.
Customer testimonials is something I agree on this should be published and I will have my team on the case to have them verified and placed on the website.
The video analysis that is distributed to subscribers breaks down not only live positions but also pairs in our portfolio that are on our watchlist, that has changed many peoples trading journey, again I will publish this with the clients consent.
The Free analysis distributed across our social media platforms is only brief and doesn’t disclose any entry, stop loss or take profit levels.
I am all for independent reviews like this as I feel it’s good for the community, however if you had of contacted me anonymously I would have been more than happy to send you the details you are reviewing above.
Many regards,
Tom Hall
March 3, 2018 @ 5:39 pm
Hi Tom Hall.
I had just brought out my card to subscribe to you when I decide to do some reviews which course not encouraging.
However, let me hear from the horses mouth. Are your signals accurate and yes by what %.
Secondly, do your indicate entry point, take profit, stop loss and trade duration with likely pip calculation.
January 5, 2018 @ 9:20 pm
I used Mr. Hall’s service for 4 months and ended up losing 14.28% of my account. His service is a scam using TradingView to pull in subscribers. Other TV traders are working with him to entice subscribers to join. BIG SCAM.
January 15, 2018 @ 6:37 am
I’ve been getting their service for about 9 months now. If you had followed their advice, you’d be probably breaking even right now, as 90% of their signals tell you to risk 1% of your account. If you lost 14%, then you surely made your own decision, and can’t really blame Tom’s suggestions…
March 1, 2018 @ 12:09 pm
And you are another one of his paid puppets. I’ve traded since 2008 and know what I’m doing. Set the signals just as Tom said, so keep spreading the lies.
March 3, 2018 @ 5:42 pm
Need to know more
April 27, 2018 @ 6:48 pm
I have used Tom Halls signals and I know he is not 100% all the time…however he has a higher probability trade setups. So far I am hoping he publishes the reviews and testimonial so people get to see and judge then. Keep up the good work TOM…
May 24, 2018 @ 10:57 am
I tried UK Forex/Hall Co. services. Fortunately I took only one loosing trade, but they have more loosers than winners. The winning trades gave little profits. In overall I lost money with their service. Tom Hall has a talent of finding all those crappy 1:1 risk:reward ratio trades. 2 loosing trades were counter trend opportunities which usually are low probability trades. I can’t understand how is he making money with so many mistakes.
July 19, 2019 @ 3:22 am
Hello, guys! I used Tom’s service and his signals are very very poor. His signals aim to risk 100 pips to get 50 lol
It’s totally random and nonsense. Even a monkey with a little knowledge of technical analysis can do better. In a downtrend you receive a signal to buy on the pullback. It’s not like the trend was broken, but anyway in his analysis you should not only go against the trend as you should risk more than you can get.
It’s a joke.