Signal Factory is a free signal service provider with unknown vendors and location. Today we will be reviewing this EA to ascertain if the service this vendor is offering is worth the purchase. Read through our review to see what experts have to say about this Forex trading software.
Table of Contents
What Are Forex EAs, Signals or Indicators?
An expert advisor (EA) is software that directs and guide you on what trades to make or pass on, it even automatically initiates and carries out trades according to a set of already programmed instructions. Expert advisors are most often deployed on the MT4 or MT5 forex trading platforms.
Do You Know You Could Get Back Your Money If You Have Been Scammed? Great News! Click HERE to Get Started
We cannot overstate the advantages and usefulness of Expert advisor. Among the many advantages is the slight learning curve involved in using the Expert Advisor. That is to say, you need little learning to use an EA as the trades are being carried out by a set of instructions already made by an expert. Another advantage is that it can consider a lot of variables that humans may not have the time or potential to handle.
It is normal and not out of character for a Forex EA vendor or signal providers to lay claims to their product being a sure-fire way for you to get richer (it’s mostly just marketing.). This is because anyone who is looking for a signal provider is searching for a hassle-free way to make some profit.
However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit vendors at the bottom of this article.
Signal Factory EA Review
Signal Factory’s sales page says that it aims to provide a bridge between professional Forex traders and retail traders that are looking for real-time advice. They claim that their signal provider’s trade live accounts with their own money, therefore they are more obligated for best performance and low-risk trading.
They give these following reasons to choose them:
- They claim that their traders don’t have to be confused with hundreds of signal providers: They make it easier for you due to their tough preliminary conditions which guarantee better results.
- USE YOUR EXITING ACCOUNT
- NO HIDDEN COSTS
- NO CONFLICT OF INTEREST
How Signal Factory EA Works
In this section, we cover the strategy and methodology the EA works. We also take a look at the trade result if any is provided. For the trade results we hold results that are posted on myfxbook to be standard but we also consider fxblue and other alternatives.
This EA works on multiple currency pairs GBPCAD, EURNZD, GBPAUD, EURNZD, GBPNZD, EURAUD, EURCAD, EURJPY, NZDJPY, USDJPY, GBPJPY, GBPUSD, CHFJPY. Their Trade frequency is 10-20 signals a day.
As it is usual practice for free EAs, this EA also doesn’t provide any strategy insight.
Signal Factory EA Price
Free
Client Feedback
Customer feedback is a vital instrument for us to offer up a quantitative review and analysis of an EA. We mostly consider feedback a third-party site as we have found that reviews on the official page might be manipulated, concocted or paid for.
We couldn’t find enough reviews by paying customers to come a decisive conclusion about this particular EA.
Conclusion
After going through all aspects of this EA, we are not satisfied with gaps between what it promises and what it delivers. Due to lack of feedback we couldn’t gauge the overall satisfaction of the customers.
We recommend caution when dealing with this EA as we aren’t sure of its efficiency even for the free price tag.
EXPERT RECOMMENDATION: Use the Best Forex EAs/Robots in the Market Below
Accounts
Free Trial
Projects
SSL
2
Strategy: Scalping
Time Frame: M1, M5, M15 and M30
Currency Pairs: All Pairs
License fee: $147
30 Day Money-back Guarantee
1
Strategy: Stop and Reverse
Time Frame: All time frames
Currency Pairs: EUR/USD, EUR/GBP and USD/CHF
License fee: $149
60 Day Money-back Guarantee
3
Strategy: Scalping
Time Frame: M1, M5, M15
Currency Pairs: All Pairs
License fee: $147
30 Day Money-back Guarantee