Today I decided to make something completely new! Today I decided that I will go out there and as a trader try and review one of the very popular signals providers in the field.
I decided to pay extra attention to toolstrades.com. It is trading signals provider that claim that they have everything in their arsenal: CFDs, forex, crypto and stocks’ signals. So far so good, sounds ambitious but we have to put the service to the test.
I want to say that I will not show you their signals implemented on a trade as I thought that it is not going to replicate the whole spectrum of the result that you might have when using their services.
So. I heard a lot about this service from my friends and trading buddies and I decided to give it a try. Some of them told me that recently ToolsTrades have changed their signals service as well as some of the concepts of their website, although I can’t say what they did differently as I have never used them before. But I have to say, I do not know what they did before, But I like what I saw. It seems that once a day the website gets an update on the most volatile forex couple in the market, so that their users can turn to the particular signal for help. That is a PRO check for me.
All of the other articles seem to be advice on trading and money managing… which is interesting if you are up for the reading, I guess.
But I came for trading signals. ToolsTrades are offering a lot of plans and services, as evidenced by their homepage, but clicking on any of them redirected me to the sign up form. And so, registration process seemed to be inevitable.
The sign up took me to the signals page. And it seems that I was right. There are several plans offered by these guys. Each of them have different success rate and different number of signals per day.
Standard offered 7 signals per day as well as 75 percent success rate.
Pro club offered 15 signals per day, 80 percent monthly success rate and 1 power signal, whatever that means. I guess that is the signals with extremely high success rate.
Unlimited plan is not that much better, although it does offer 82 percent success rate which is not bad in the modern market condition, 25 daily signals and 2 power signals.
Pro and unlimited plans also offer SMS service. Are they going to send trading notifications directly to my messages regardless of whether I am on the website or not? Well, that remains to be seen. I might have to talk to their support service which so far has been very helpful and find that out.
So. Time to snoop around the service.
The one really cool feature is that they give out both long and short term signals in case you want to long or to short your assets. But according to their live results feed their clients prefer to short more. 24-7 pips winners. That might seem like an unusually small amount of pips but I have met traders who made their winnings like that. It seems more dynamic for them.
So. I opened up a signal and what was really helpful is the chart that appears when you open one up. Unfortunately, until I make a deposit with one of the brokers that was it. It seems that without deposit going to one of their brokers you can only have 1 signal per day, but their support told me that that is for life. And yes, it was totally free.
So, until I decide to make a deposit that is pretty much it. I also found out that we have the possibility to gain access to their free WhatsApp service – twice a day they send you 8 assets with the direction that has to be given to the trade. Neat! Might try it later on.
Trading results seems to also be in the form of the live feed. You can see their users and the profit or loss that they experienced by using their signals during the day. No one asked me whether I agree for my results to be visible, but I personally do not mind. I thought that my potential results can bring more people to ToolsTrades and I didn’t mind that as well. So far I like these guys.
On the bottom of the page I saw statistics for the previous traders and used assets. No surprise that EUR/USD is on the first place. it has nothing to do with the quality of the signals, it is just that it is the most popular couple in forex market.
What I can really give a thumbs up here is the fact that one of their users earned more than $16 thousand yesterday. That seem pretty hopeful for me as a beginner with them although I am going to have to see that.
So, I was skeptical at first. I didn’t know what to think when my friends started recommending this service. After all we have been burnt before. I think we all went through a bad signals provider and were really unlucky to lose money with them. ToolsTrades offer a pretty wide variety of brokers – right now they have 17 brokers for me to choose out from and it seems that some of them are even regulated which is welcome. I think I will settle with one of them.
Results seem pretty plausible, but then again that is a subjective thing. I am going to have to trade to really understand the effectiveness of the signals, although it is going to be hard having only 1 daily signal.
All and all it seems that ToolsTrades are developing, judging by what my friends are saying. Support was very helpful and their agents are very patient, so there is no point in hesitating to ask them anything especially when you are new to their service ad understandably have a lot of questions.
I would recommend ToolsTrades as a solid signals provider.