Gold VIP Signal is a provider of Forex signals that promises a win rate of 90% for its signals. These signals are provided as a part of its managed account service that is handled by 15 highly experienced professionals.
The team members of Gold VIP Signal are based in different countries like Switzerland, India, Bangladesh, Nigeria, South Korea, and Singapore. According to the vendor, the team consists of professional traders who work 24/7 to deliver the very best services to the users. We don’t know where the headquarters of the company are located. The identities of the team members are also unknown. It is highly likely that this company has not built other robots in the past.
Gold VIP Signal Strategies and Tests
Gold VIP Signal sends you trading signals via WhatsApp. On the official website, there is a link using which you can join the official WhatsApp group where the signals are shared. The vendor claims that you need to possess any experience in order to trade using the signals. Your account is monitored 24/7 by the team, so you don’t need to worry about missing out on trading opportunities.
With Gold VIP signal, you can withdraw your funds whenever you wish. Your money is stored in regulated and trusted brokers and banks so safety is not an issue. The user has full control over their funds at all times. To get started with this robot, you need to make a minimum deposit of $1000. As per vendor claims, you can make more than $300 every month by using this balance.
This system works according to a trend-following strategy that is suitable for the H4 timeframe. It uses a combination of multiple trend-following indicators along with support and resistance levels and oscillators for locating the trade entry points. Take profit levels are identified with the help of price history analysis and Fibonacci expansion levels.
All of the trades are executed instantly or assigned the pending status. Spreads and swaps are not included in the signals. The vendor recommends using a maximum of 15-20% of your funds for all the open positions and 5% of every individual trade. Not following this might increase the chance of loss in case there is a sudden price shift in the market.
Gold VIP Signal Live Trading Account Review
This is a live trading account of Gold VIP Signal that is verified by the Myfxbook website. It has only been active since March 2021, so its trading history is quite short. We can also see that the account has a 99.38% drawdown rate, which is unacceptable. Most traders are wary about investing in a system having a drawdown of more than 30%, so this makes it an extremely risky investment prospect.
It is evident that this account has suffered some large losses since its time-weighted return currently stands at -95.23%. The daily and monthly gains are -3.25% and -75.04%, respectively. Although 79% of trades placed through this account have been won, we can see losses as large as -95.75%. In fact, it has lost the previous 5 trades placed through it.
Unlike other Forex signals providers, you don’t need to pay an upfront fee or a fixed subscription amount to use the services of Gold VIP Signal. Whenever you withdraw funds from your account, you need to pay the company a 40% share. We think this is an inconvenient pricing scheme, as it requires you to share a large part of your profit.
Is Gold VIP Signal Robot a Scam?
On the official website, the vendor claims that the signals have a win rate of 90%. This is not reflected in the live trading results, rather we can see huge losses in recent times. This can be considered as an unrealistic promise on the seller’s part. Thus, we think it is very likely that Gold VIP Signal is a scam.
We were unable to find any customer reviews for this signal provider on websites like Quora, Trustpilot, Myfxbook, and Forexpeacearmy. It seems like not many traders are aware of its presence.
The vendor recommends following a risk management strategy where you choose a lot size based on the invested amount. For instance, a lot size of 0.01 should be chosen for $100-300, 0.02 for $300-500, and so on.
- Verified live trading results
- Strategy explanation
- High drawdown and huge losses
- Lack of vendor transparency
- Short trading history