Beware of Fox Signals on binary options

Fox SignalsIn this review we are going to have a look at “Fox Signals”. It is a binary options signals service.

On the FoxSignals web page you can read that it is a revolutionary signals service that provides quality signals for people who are looking for profits on binary options. But what is the truth?

Why Forex?

myfxbook-resultsThe biggest problem of Fox Signals is that it should be a binary options signals service, yet they present some trading results from Forex.

They show an account at MyFXbook, but it is a Forex account, so nothing to do with binary options. The account is linked to a broker called GOMarkets, which is a Forex broker, so again, no binary options.

So Fox Signals are misleading people, they talk about binary options but show Forex results. This makes their offer very suspicious in our opinion.

resultsNow let’s assume that they use their Forex signals on binary options. In this case it does not change much, because they have a 60 % win rate, which is far away from the win ratio that Fox Signals promise – around 85 %.

60 % is good enough to be in profit on binary options, but it is just above break even, so not really a very good strategy. We know that you can build yourself a better strategy for free.

If we take the results of FoxSignals from MyFXbook and apply them to binary options, it would look like this: their average win is about $40, so the average investment would be $50. 118 trades in total, 71 wins, 47 losses.

It means $2840 in profits (71 x 40) and $2350 (47 * 50) in losses. So a total of $490 in net profits in 35 days. It is not too bad. But 10 losses can erase this profit totally.

Conclusion

We don’t understand why Fox Signals use a Forex account to show binary options signals. They have a 60 % win ratio, which is far away from the promised 85 %. At present it still means profits, but the system is very young, only one month old with 118 trades.

So we are not sure if it is completely worth the price. Our recommendation would be to wait at least another month to see how the performance of the system evolves.

Summary
Review Date
Reviewed Item
FX Signals
Author Rating
31star1star1stargraygray
Share on FacebookTweet about this on TwitterShare on Google+Pin on PinterestDigg thisShare on LinkedInBuffer this pageFlattr the authorShare on RedditShare on StumbleUponShare on TumblrShare on VKShare on YummlyEmail this to someonePrint this page

38 thoughts on “Beware of Fox Signals on binary options

  1. Thanks for your analysis,
    But we want to clarify some points.

    1. GoMarkets is a broker for Forex and, also, Binary Options

    2. We use myfxbook to bring users more transparency of our results
    (http://www.myfxbook.com/members/foxbinarysignals/fox-binary-signals/1604750)

    3. You can see there our gain (72% for the moment, in less than two month) with investments of 35€ and 70€ (3.5-7% of initial balance, as we recommend, per trade). And the history of ALL signals since April 22.

    4. We explain in the website our trading method, based on a price reversals approximation. We can use two trades for win a signal. If we lost the first binary options (35€) we invest immediately with double amount (70€). Look some example on our results page (http://foxbinarysignals.com/results).

    5. It’s why the real percentage of WINNER signals it’s not the same on myfxbook. If we lost the first, and win the signals with a REENTRY, this operation generate profit. For us, is a won signal. And for the moment, we have a 85% of winner signals.

    1. 1) But you clearly use a Forex account.
      2) These are results spot Forex trading.
      3) The gain is absolutely irrelevant because binary options are not traded in pips like Forex on MyFXbook
      4) So basically Martingale which is very dangerous
      5) It does not matter what it means to you, what counts is real stats and real stats show a 60 % win ratio

      1. Dear,
        1) Please, read more about GoMarkets. Is a Binary Options account, the profit of each order is the broker return for each binary options. https://www.gomarkets.com.au/range-of-markets/binary-options/
        2) See the history on myfxbook, there’re all binary options trades, NOT FOREX.
        3) The gain is irrelevant? The gain is how we increse our initial account (710€ for now) investing 3.5-7% for each binary option. NOT PIPS.
        4) No, we use an aproximation strategy and we place two orders maximum to wait for price reversal (on obviously the second amount is bigger than first to recover the first loss). With this method, we achieve a 85% of profit signals. NOT MARTINGALE, only TWO orders for each signals. It’s so difficult to determine the exact moment that price change direction with only one entry.
        5) Obviusly it matters! If you place an order (35€) and lost it, but with next aproximation (70€) you can won it, your profit is 70*0.75-35=17.5€. Win ratio is 50% but you win money…. it’s simple. Our goal is to make money. You need to understand how our method works.

        It’s clear, in less than two month we increase our inital account from 1.000€ to 1.700€, with 35€/70€ trades. Take a look to the trades history. If you have more questions, please visit us http//foxbinarysignals.com and you can use our chat to ask any questions or read or FAQ’s.

  2. This is the mail I sent them after using their autotrader for 1 week:

    Hi,
    your results you show on your website are completely different from those you achieved in my live binary.com account. This is scamming par excellence! So I cancelled the payments via Paypal. I lost 30% of my live account while your public history shows only winning trades! Shame on you!
    Good bye!

  3. Then, here our answer email:
    “First of all, be careful with the accusations you make! There’s a lot of people working a lot of hours a day trying to provide the best service as possible.

    You can check the verified users testimonials by Ekomi (www.ekomi-us.com/review-foxbinarysignalscom.html) and also prove the results in verified (REAL) accounts of myfxbook (myfxbook.com/members/foxbinarysignals). We don’t accept anyone saying that we cheat, and less than if you test the system for only one week… we make money on long-term! We are not going to make you rich in one night…

    If there is difference between the results can be due to many things. We’re not scamming anyone! Verify that the time of your PC is correct since it is necessary for the platform. Also, you need good internet connection to reduce delays.

    Oh, and if we explain on the website, we launch the trades (directly on MT4) using GOMarkets account (then, their reference prices). It’s why we recommend to use this broker (with copy-trade EA) and get better results. We cannot control if Binary change or use different prices.

    If you need help to make the system profitable, contact us. In other case, you can cancel the subscription with any problem.

    I also attached some more proofs about results……. my personal accounts history on Binary and GOMarkets. That’s all.”

    1. Hmm, if you are so honest, maybe you could explain why did the history of your trades between April 2016 and September 2016 disappear on MyFXbook? I can’t see it.

      1. Dear John,

        First of all, did you test the service? I cannot see any account with your name.

        1. This account was stopped because the broker (on profit), and we decide to move to a new account after improving our strategy. Now, you can follow a new verified accounts (also, a REAL account!) since October 2016.

        2. Ekomi is a verified Google partner, and other important companies use it. Please, read also users reviews on the Facebook Community or look at Instagram posts. Our main goal is transparency and the customers are happy with the results. That’s all 🙂

        3. Try our service by yourself. It is the best way to draw good conclusions. Hurry up, soon we will limit the number of users due to the increasing demand.

        Best regards.

          1. No problem. It is clear that your comments have no meaning if you don’t test our system… Maybe you should take a look at post like these:
            ***links deleted by admin”

            If you don’t trust on myfxbook accounts, please, on the website you can find SCREENSHOTS of our trades directly on Metatrader. Is this not enough evidence of real trades/results?

            After 57 weeks, 350 high signals with 86% accuracy (using one reentry). An accumulated gain of 345%. So clear.

            Best regards.

          2. Please don’t do your promo here. Your testimonials can be real or they can be also fake. You have hidden a part of your MyFXBook history and started a new account. On the live account it shows a 64% win rate this year, which is far of your claimed 86%. This month you have only 56% win rate, which means about break even, no profits. On the demo you have only 61% win rate.

          3. We simply try to show you more proofs about our service, and now you don’t want to post our comments? Please, we made 800€ in two months… don’t try to discredit our two years of hard work 🙁

            Contact us by email if you want to test the service for free and then you can draw better conclusions.

            Best regards.

  4. John, we’re not doing promotion. It was simply a link to our Facebook Community with more than 500 users (I think 500 fake users is difficult…) commenting and sharing results.

    As we said on the first post, myfxbook is designed for Forex… it has nothing to do with percentages for our strategy (“5. It’s why the real percentage of WINNER signals it’s not the same on myfxbook. If we lost the first, and win the signals with a REENTRY, this operation generate profit. For us, is a WON signal.”). Then, since we started 86% of 350 signals!

    In the REAL account you can not see a profit of + 80%? We won 800 € in two months (IT’S ON MYFXBOOK!) and you said no profits?? Please, check the trades history to understand our method. The account is growing, is so simple!

    Best regards.

    1. Anything can be faked, including any Facebook community. You can buy anything on Fiverr. I always wondered why would a profitable trader sell his signals and bother with a website, payment system etc. and even run an affiliate program to pay people to refer new customers, instead of trading his own signals and making lots of money. Maybe you can explain this to me?

      1. 1. Yes, it’s possible, so we just wanted to recommend you to test the service by your own. Many distrustful users finally agreed to test it, and now they are satisfied with the results.

        In addition, we use Ekomi as an external service for reviews and VERIFIED accounts on myfxbook. You will agree that we carry +80% gain in a REAL GOMarkets account, right?

        2. Of course I can explain it to you, it’s very simple. It is a business – if we can help the users to earn money, we will win more. Obviously the REAL account of myfxbook is from one of us, you can see how much we are earning using Autotrading.

        We’re a group of traders that developed a method with which we started to generate profits in BO. We first created the copytrade EA for our family ands friends and finally decided to start this service to expand it worldwide. Thus, we not only generate profits with our trading, but also with the small fees (not like some scam services that are worth more than $ 200/m.) that our customers pay. In the end, we all win.

        Obviously the REAL account of myfxbook is from one of us, so you can see how much we are earning using our own Autotrading.

  5. I’ve had success with Fox Binary auto trader so far for first month 85% win rate and they have re entry signals which is automatically set up through an EA on MT4. Go Markets and many forex brokers offer binary options now so you can trade both platforms on their sites. Without trying the signals there’s no point commenting and in their defense their is nothing wrong with being successful and still want to make more money selling the product. The most wealthy people in the world still continue to make money this way, it’s called success.

    1. 85% win rate? If that was true, Wall Street Journal, Barron’s, Bloomberg and similar media would be full of Fox Binary auto trader. It would be the cheapest and best trading software in the world. Yet it is quiet, owners are anonymous and by selling their software they effectively provide illegal investment advice. Where is their licence?

  6. Not sure what Wall Street or Barrons would have to do with it. There are so many excellent traders out there and hundreds of individuals who provide signals auto or manual. I’m a trader myself but I also use an auto signals service and manual signals as well as the Fox autotrader as extra sources of income. 85% is the norm if you are a good trader, some days you would get 90%-100% success, other days when the market is more volatile it would be less. These services generally cost between $100-$200 per month which is fairly inexpensive compared to the profit you make. Unlike the so called free auto robots which are scams, you have to pay if you want to profit. Most of these signal providers would not be licensed and who cares, they are not really giving any financial advice, they are making me extra money.

    1. You really think that people are stupid, don’t you? Be it free or for $100-$200 per month, it is the same, if it can make make you tens or hundreds of thousands of dollars per month. This is why all the media would be full of such systems and signals, because almost everybody could afford them and they could quit their jobs. And then the economy would fail. You see, you are saying total nonsenses that are physicaly impossible in this world. Money is value, so $10,000 per month in earnings cannot cost $100 in signals. Stop your BS, please.

  7. lol there are many traders making a lot more than $10,000 a month. Good traders success rate are around 80-100% these are the same ones that offer signal services because they are good plus they want to make more money and why not. People use their own brokers and obviously trade different amount sizes according to their budgets. Most newbies would only deposit $250-$1000 and if they were smart they would let it compound and then start drawing out every month. Signal providers don’t have any idea what trade sizes people are trading. It takes a while to find a good signal provider, some have only 60% success rate so it’s trial and error. I don’t give advice on who is good or who is not, it’s up to the individual. I make a bit less than that per month and obviously don’t have to work but it saves me spending hours in front of the computer trading myself. No one forces anyone to do anything, if you don’t like it, then don’t do it, simple as that.

  8. A negative attitude and discrediting good experienced traders who have worked hard on their strategies to achieve excellent results is not the way to go. Your loss!

  9. Lol I’m not a signal provider, I’m a trader who takes signals and yes 85-100% is the norm for good traders. You’re obviously a newbie.

    1. I’ve been a trader for 11 years, this is why we’ve built this website, we share our experience and help people to recognize scams. 85-100% win rate is the norm for your dreams. Because you try to persuade people about these numbers, I now know that you are a scammer.

  10. Totally agree with you Trevor! Thanks for your support! Luckily we have users who value our work and we’re very happy with that. We do not need anything else 🙂

    John, please… it’s so easy, just take a look at our REAL – repeat, REAL – account verified by myfxbook. More than 130% gain only this year….. http://www.myfxbook.com/members/foxbinarysignals/fox-signals-autotrader-ea-high/1937123

    Sorry, illegal investment advice? We’re traders posting signals on a website, and we offer a platform where users can link their account with to place the trades. The user manages his own money. That’s all.

    We launched this project only few months ago, we started with different myfxbook test accounts with ALL type of signals and now are hidden or deleted, right. To avoid confusion, as we now have different types of signals and performance has improved for HIGH probability signals.

    Since we started with Autotrading platforms (October 2016), and opened this service to customers, we create the new myfxbook account with only HIGH signals to verify our performance, why you don’t stop looking at the past and look at the results we are having each day??

    Please don’t try to discredit the hard work of the people, and even less without trying the system. I offer you again to test it by yourself… maybe you’re right: “It would be the cheapest and best trading software in the world”.

    Best regards.

      1. Again…. stop doing that lol

        Autotrading started on October, this account was an old account (22/04/16 – 27/07/16) using ALL signals. Now we improve only HIGH probability signals and we’ve a new myfxbook account (for 7 months!!) with more than 140% gain to avoid confusion! It’s so simple… you do not want to listen us but only discredit the service, it’s frustrating…

        And also, a REAL account using Autotrader EA with 130% only this year!

        If you do not want to use the service and make extra icome, ok… but don’t accuse anyone of scam. We worked very hard to achieve our gols. Be happy my friend 🙂

        1. You don’t have to persuade me, I am trading my own strategy and I am not looking for signals. Based on my experience, I don’t trust you, it’s my right. I explained why. You are hiding past performance and you call it “not confusing people”. I call it hiding the long term performance. You are doing two re-entries, which is partial Martingale that can accelerate your drawdown significantly. I said what I had to say, now it’s up to people to make their own judgement.

      2. Oh! Also, as we said several times, we don’t use martingale and expose account to blow up. We only place one reentry. Check things out well before making reviews, please…

  11. We’re not trying to persuade you, but when someone does a “review” without even testing our service the only thing we want is to try to make things clear. You did the review after less than two months of launching this project… now, after one year improving the service, we’re using a new account on myfxbook with, as you said, LONG-TERM performance! We started this account when we lauched Autotrading on October with High probability signals (less and more accurate). Simple, proofs not words.

    7 months with 145% gain! Forget the old account. Why you don’t say anything about our present results?
    If you want to do great reviews start using the services for 1-2 months and don’t discredit the work of people. You would have to be a little more honest.

    1. Stop your BS, I had enough. Trading is about long term performance and not about switching accounts and showing only the last few months. If somebody is being dishonest, it is you. If you want to be honest:
      1) You cannot hide your previous accounts and switch to new ones
      2) You cannot provide trading signals as an anonymous entity, you give no address, no name, no phone number, etc.
      3) You have to get a licence, because according to the law you are an Investment adviser (https://www.sec.gov/fast-answers/answersinvadvhtm.html) and you have to be registered.

      So again, stop your BS, you are providing illegal investment advice and you are calling me dishonest?!

      1. Again you don’t want to talk about our REAL current results. Switching accounts? You made this review when we just start this project and we only offered manual signals… finally, we launched Autotrading service on October and started sending only HIGH probability signals. All results from that day are on a verified myfxboox account, so simple.

        Sorry, but you’re talking about US law, but also would not be our case: “For the most part, investment advisers who manage $100 million or more in client assets must register with the SEC.”
        (https://www.sec.gov/reportspubs/investor-publications/investorpubsinvadvisershtm.html)

        We would like, after some months (if 7 months of stable profit do not seem enough for you…), you to review again our service and draw new conclusions 🙂

        Thanks for your time!

        1. Can you read? Current results do not matter, long term results matter and you are hiding these.

          Concerning the law, you are twisting it to your needs, any investment adviser has to be registered in any country in the world with a financial regualtion. In the U.S. the turnover can only make the difference whether you have to register with the SEC or the state regulator, that’s all. If you want, I can ask the regualator for you, pinpoint them to your website and ask them for their opinion on your anonymous service. Do you want me to do that? I guess not…

        2. By the way, one recent example. Do you know John Anthony Signals? He does the same thing as you, he provides binary options signals. And guess who is now on the CFTC blacklist? John Anhony? http://www.cftc.gov/PressRoom/PressReleases/pr7551-17 And similar rules and laws are in Canada, the EU, Australia, Japan, etc. In all these countries you have to be registered to be allowed to provide signals, otherwise you are operating illegaly and can get hit by authorities.

          1. Well, as I said, our long-term performance is based on 7 month results. We started one year ago, and after some month improving the service we finally launch fully with AT. Since that day, you can verify and follow the same account.

            About investment advice… it have to be created to advise customers with personalized investment plan or manage their money, this is how we interpret it from our country legislation.

            Our service simply offer to our customers the chance to increase the understanding they have about the nature and development of financial markets, and cannot in any circumstances be regarded as financial advisory. For us, signals are only constitute an indication of a trading scenario where statistical analysis indicates a higher winning probability; and we assume that they can not be followed without further analysis.

          2. You say 7 months, but you don’t even show 4 months (http://www.myfxbook.com/members/foxbinarysignals/fox-signals-autotrader-ea-high/1937123). You did hide the older history.

            Concerning regulation, your site is in English and you should clearly state that you don’t accept customers from USA, EU countries, Australia, Canada, etc. But you obviously are accepting people from these countries, because your sign-up page does not even ask for the country. So you can get slapped by regulators at any time, but it’s not my problem.

            This is a major problem not only for you, because the majority of people does not realize that all forms of financial trading are heavily regulated in all civilized countries. Providing trading systems even for free while suggesting any kind of performance is considered as investment advice and you have to be registered to do that. This is why all the binary options trading systems and services we review on our website are illegal since the beginning no matter how big scams they are, because they are anonymous and not regulated. Plain and simple.

  12. No, this one of 4 months was opened this year simply to show results using Autotrader EA 100% hands-free (is a REAL account, to try to give more proof to our customers). The main account, which the website results are based in, is this one – for 7 months , from Autotrading launch: http://www.myfxbook.com/members/foxbinarysignals/fox-binary-signals-high-signals/1853090

    We are traders, and we know how many problems there are in this industry, and how difficult it is to find a quality and transparent service. That’s why I’m writing these lines and we try to offer our clients the maximum number of proofs as possible. And about regulation, well, we’ll try to comply with all countries standards if it’s necessary. Thanks for your comments.

Leave a Reply

Your email address will not be published. Required fields are marked *