In this post I will be reviewing the Forex Signal Port forex signal service which is basically a forex signal service that allows you to copy the trading strategies in the Phibase portfolio. You can now auto trade directly on the MetaTrader 4 trading platform (MT4) on any broker of your choice and choose from a combination of the multiple forex trading strategies provided by Phibase who have been developing forex robots since 2011, including RayBot and CabEX respectively.
The Forex Signal Port provider developed this service for copying the trading signals automatically to your trading account.
How it works is as follows, Forex Signal Port trades are sent from the Phibase trade server where the strategies are running and forwarded to the portfolio management module. Only trade signals with current performance metric above longer term performance averages are delivered to the Forex Signal Port subscriber, thus attempting to filter out the weaker less probable trading signals.
The Forex Signal Port MT4 EA powered by always ‘ON’ technology that is running your end, receives the signals instantly and executes the trade as per the risk level chosen by the subscriber.
Phibase the Forex Signal Port developers have been going since 2011 and have previously developed forex robots that I have reviewed on my forex review site. The Forex Signal Port service is basically the signals from these robots combined being copied onto your trading account.
The robots used by Forex Signal Port have been running at this time around 3-5+ years respectively which means there is a decent amount of historical results to refer to. Of course, past performance is by no means any guarantee of future performance
Forex Signal Port combines the following strategies into the signals service which are copied directly to your MetaTrader 4 trading account:
- Currency Strength Weakness – Strategy trades strength or weakness of YEN, USD, GBP, EURO and Gold.
- Support Resistance Gaps – Trades price swings between Support and Resistance on M15 time frame.
- Neural Network Algorithm – Trading based on Neural Network algo which tries to predict the High/Low values of the next H1 bar.
- Moving Average Price Action – Trades GBPUSD based on price action near moving averages – Strategy identifies potential trends and reversals moves.
Full details of each strategy is provided on the Phibase Forex Signal Port official website.
Overall, the Forex Signal Port has the advantage of being fully automated whilst still giving you control over the lot size. Always use a sensible lot size for your account and leverage to minimise draw downs. Trading is risky by nature and you can lose all of your funds.
Furthermore, I would personally be using an ECN forex broker as I find they deliver some of the best possible trading conditions such as low spreads, low slippage and low commissions.
There are a number of packages to choose from with the Forex Signal Port starter package just $99, each option includes a money back guarantee.
I would have personally have liked Phibase to share a verified myfxbook or FX Blue account of the Forex Signal Port performance although I would give this a try, perhaps starting on a demo to begin with to see if performance lives up to that the developer claims.