NCM Signal Review

Nov 20, 2020 10:00 AM ET
NCM Signal Review

NCM Signal is a copy trading service, promising to be reliable, stable, successful, and transparent Forex investment. The developers of this Forex trading software believe that NCM Signal is an excellent trading tool designed to provide traders with a safe trading experience. On their website, the devs point out the following:

NCM Signal presentation

Their website presentation consists of brief product information, advantages of their copy service, myfxbook trading results, detailed information that tells us about how NCM Signal works, price details, and customers’ testimonials. The presentation looks professional and contains a straightforward explanation of what the team behind NCM Signal offers to traders.

In this NCM Signal review, we are going to tell you all about this product, its pros, and cons to help you decide whether it is a good choice for its price.

NCM Signal

Type

Forex Signals

Price

$39/month

Strategy

Light Grid- Martingale

Compatible Platforms

MT4

Currency Pairs

GBPCAD

Timeframe

Any

Recommended Min. Deposit

$2000 

Recommended Deposit

$2000 

Leverage

N/A

Trading Strategy Explanation

We know that the trading strategy of NCM Signal is a ‘combination of 3 EAs and manual supervision’. One is responsible for opening trading positions. This robot analyzes market conditions and places trades when it decides it is the best time for it (this EA was designed to work with an 81% success rate). The other expert advisors manage trades and use ‘a light grid-martingale strategy’. In case the market goes in the opposite direction, EAs open additional positions ‘to get out of the trades as soon as possible’.

NCM Signal Trading Strategy Explanation

We never recommend any trading system, which uses Grid and Martingale trading strategies – it is too risky and can easily blow a trader’s account. Martingale and Grid trading strategies are very dangerous, especially for green traders who do not have enough trading experience and skills to use them properly. However, the good thing is that the developers promise to manually intervene and watch the trades ‘if the situation requires’. It sounds good and seems it should help to limit the trading risk significantly.

NCM Signal is not an ordinary signal service, as a trader does not receive a signal, analyze it, and then start trading on his own. Instead, it is more like an EA, which has a completely automated trading process.

What are the key features of NCM Signal?

  • Traders can copy developers’ trading strategy on to their MT4 account

  • NCM Signal is a copy-trading trades from the master account to traders

  • No subscription for an additional VPS server is required

  • Traders can trade  only on the MT4 platform

  • The devs offer us to execute trades on their server to decrease execution speed

  • Their copy service is said to work with the lowest possible ping to IC Markets trading servers (0.8ms to 2.6ms)

  • Traders can easily set any risk for 0% to 200%

  • Traders can add a fixed drawdown limit to close trades automatically

  • ASIC regulated broker

  • With a $2000 deposit and risk of 100%, we can expect for $3,202.06 of estimated total capital per 1 year (traders can calculate their return on the website of the developer)

NCM Signal calculator

Backtest Data Analysis

Unfortunately, the devs failed to provide backtesting results on their website. It is a red flag, as it gives no opportunity to compare past NCM Signal trading results with the ones we have today.

Live Trading Data Analysis

The devs provide 1 myfxbook trading account results on their sales page:

NCM Signal Live Trading Data Analysis

We can click on the ‘myfxbook history ‘ button and view the current trading performance of NCM Signal.

It is a real USD trading account, which is working on the MT4 platform with IC Markets brokerage and a 1:500 leverage.

NCM Signal Myfxbook

The robot trades with technical indicators and mixed trading. The account was added on February 04, 2018. For over 2 years and 10 months of trading, the account has obtained a +341, 91% gain with 4, 47% monthly gain. It was funded at $300. The robot has brought $1025, 72 of profit and now its balance equals $1325, 72 (with $300 of deposit).

NCM Signal deposit

The maximum drawdown was low and equaled 12%.

NCM Signal drawdown

It has traded 1021 trades and won 830 out of them. The average win is twice lower than the average loss: $2.38 vs -$4.96. The average trade length is 4 hours and 34 minutes. Its profit factor is 2, 08.

NCM Signal trading results

The robot trades only GBP/CAD currency pair:

NCM Signal trading results

It trades several hours daily, mostly between 10 p.m. and 12 a.m.

NCM Signal trading results

It trades 5 days a week, from Monday to Friday. Monday is far behind in comparison with other days:

NCM Signal trading results

SL and TP levels are hidden:

NCM Signal trading results 

Trading Results

Myfxbook Account

Real (USD), IC Markets

Started

Feb 04, 2018

Deposit

$300

Balance

$$1325.72

Gain

341.91%

Daily

0.15%

Monthly

4.47%

Drawdown

12.00%

Profitability

2.08

Review Summary

Pros

  • Live trading results

  • Detailed product description

  • Detailed trading strategy insight

  • Low price

Cons

  • Martingale and Grid trading approaches

  • No vendor transparency

  • No customer review on FPA

  • EA trades several hours daily

  • Works only with GBP/CAD currency pair

  • NCM Signal service is only available for IC Markets’ clients

  • No money-back-guarantee provided

Conclusion & Rating

Its $39 price (which is cheap even for a copy service without VPS) scares us a bit as well as raises suspicions around the product. As we have already mentioned, we never recommend traders invest their funds in trading systems, which use Grid or Martingale. Taking into account that NCM Signal uses them both, provides zero vendor transparency and does not offer a money-back guarantee, we would not recommend NCM Signal to the public.


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