Price Action Forex Ltd Review

Sep 20, 2021 08:07 AM ET
Price Action Forex Ltd Review

Price Action Forex Ltd (PAFX) is an FX trading firm that provides steady growth and low risk with consistent profitability. The PAFX team of experts generates profitable signals which you can receive via the Telegram channel of the company. As per the vendor, the team has more than 12 years of experience which you can use to learn the proven approaches they use. 

Price Action Forex Ltd

Type

Signal Provider

Price

$17/month -$299 (single payment)

Strategy

Price action

Compatible Platforms

MT4

Currency Pairs

EURUSD, GBPUSD, EURJPY, GBPJPY, and USDJPY.

Timeframe

N/A

Recommended Min. Deposit

$500

Recommended Deposit

N/A

Leverage

from 1:500

Trading strategy explanation

Features of Price Action Forex Ltd.

As per the vendor, the company provides more than 90% accuracy in the trades resulting in consistent profits. At present, there are more than 6000 VIP members. About 3 to 8 signals are generated daily. Some important features the vendor provides include notification of the specific setup the team is analyzing, SL, TP, trailing SL to reduce risk, and a risk to reward ratio of 1:2.

For the premium clients, 5 to 8 signals that include the entry price, SL, TP, etc. are provided. The team of experts analyzes the best opportunities including intraday and swing trades. This provider makes use of the New York and London sessions to exploit the large market momentum. 

Regarding the strategy, there is no mention of the strategy/strategies used with the vendor just stating that many strategies customized to different market situations are used. The lack of explanation of the trading approach raises a red flag. It makes us suspect that the system is not trustworthy.

Backtest data analysis

No backtests are present on the official site. The lack of backtests further strengthens our doubts about the reliability of this service. Although the vendor mentions providing proof of its performance, we cannot find backtesting reports.

Live trading data analysis

As per the vendor info, the company boasts an accuracy of over 90% which ensures the drawdown is very low while the profits are high. For proof of their performance, the company does not provide verified trading results. 

Trading results of Price Action Forex Ltd.

Instead, there is just info on the deposited amount and the profits made without mention of important details like the drawdown, lot size, balance, equity, profit factor, etc. We prefer trading results verified by sites like myfxbook, FXBlue, and FXStat. 

The results displayed on such sites have all the crucial details you need to know about the trading account. The lack of verified results reveals this is not a trustworthy service.

Pricing

Pricing packages for Price Action Forex Ltd.

Features included in the Price Action Forex Ltd.

Multiple packages are available for this service. These include the Novice pack that costs $40 per month, the intermediate package for 3 months at $30/month, the Advanced package for 6 months costing $25/month, the professional package for 12 months at $17 per month, and a lifetime Expert package costing $229. 

The main features included in the packages are 3 to 8 signals, 24/7 monitoring, query, and trading support, a high risk to reward ratio, a free eBook, and technical analysis of the provided signal. We could not find info on the refund offer the company has which indicates this is not a reliable service. 

User reviews

We found 55 reviews for this company on the Forexpeacearmy site with an overall rating of 1.431 which indicates poor performance. Here are screenshots of some of the recent testimonials of users:

User complains that this is a big scam.

User complaining of consistent losses with Price Action FX ltd.

From the above feedback, we can see the company is not trustworthy with the user calling it a big scam. More than one user complains about the heavy losses incurred on using the service.

Customer support

Support methods for Price Action Ltd.

As per the info on the official site, the service is open 24/7 and includes support methods like live chat and an online contact form. The vendor claims that users will get a fast response after sending their queries.

Review summary

Pros

Cons

  • Signals for all financial instruments
  • No mention of the strategies used
  • Free trading analysis
  • No verified track record
 
  • Lack of vendor transparency

PAFX promises consistent profitability with its enhanced trading approach and assistance. From our evaluation of the features, performance, user reviews, and support we find this is not a trustworthy company. The lack of info on the strategies used and the absence of backtests reveal the unreliability of the vendor. Further despite boasting a big customer base and more than a decade of experience in the field, there are no verified results. The negative user reviews further confirm our assessment that this is not a trustworthy service.

Rating: 5/10


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