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rate: 4.00
IntelliForex is a forex trading signals service that was established in 2006. They trade the majors: EURUSD, GBPUSD, USDCHF, AUDUSD and USDCAD, and provide both swing trade signals and intraday trade recommendations. With multiple signal delivery options and clear and good trade signals, this service is quite good for the beginner or more experienced trader to make consistent profit.
Subscription is $127.88 per month, but IntelliForex does offer a 14 day free trial to try out their service. The Performance page on their website shows 4037 pips for 2006, 4775 pips for 2007, and 3602 pips in 2008 so far. Their monthly pips for 2008 are up to date and even current with the current month, November, coming in at 834 pips so far. Very impressive pip count. They do show some negative monthly pips but overall each year is quite profitable. Their signals can be received via email, sms text, or by a desktop dashboard.
IntelliForex separates its trade signals into two categories: swing trades and intraday trades. The swing trade signals are generated by a pattern recognition technology, an artificial intelligence, that locates repeatable patterns in the price action. The intraday trade signals are generated by their IntelliForex experienced traders. Both types of signals are generated any time of day in order to best trade the 24 global forex market. This is an advantage and disadvantage, since you can get signals during the day or night, so it is up to the trader whether to trade them all. First an alert to open a trade is received specifying the market price, the stop loss, and the profit target price. All of the trades are market orders and require the trade to be entered as soon as the signal is received. Often stop loss orders can be 100 pips or more, so these signals are not for overleveraged trading accounts. After the trade is entered, a close trade alert will then be received separately to close the trade with profit or loss. Some trades may remain open for several hours and some may be closed within minutes.
The IntelliForex website is very professional and easy to navigate. Particularly helpful is the Forex Signals page that immediately provides a 4 hour or hourly chart of the current trade signal. Another nice feature to their website is the Performance page. It is actually updated to the pip of all closed trades and any current open trades. So you can go there to see how their current trade is performing with a loss or gain, tick for tick. One disadvantage is that IntelliForex does not provide any tips or recommendations about money management or trade lot size for their trade signals. They do offer a performance guarantee of +100 pips minimum per month.
After trading the IntelliForex signals for 10 days, performance proved to be good with 24 trades signals for a total of 332 pips profit. Only 2 trades were losers. One drawback to these signals is that after you receive a trade entry alert, sometimes the trade close alert will be sent just minutes later, or may stay open for several hours. They do not always wait for their stop loss or profit target to be hit. So it is very important to be flexible and ready to open and close these trades at a moment’s notice. The past 10 days of trades did correspond to the trade log on the IntelliForex website precisely, so it appears that they are very professional and log all losses and wins correctly.
This reviewer would recommend IntelliForex signals service to the beginner or experienced trader, but it is extremely important to use very good and conservative money management on each trade, since IntelliForex does not provide any tips or recommendations for this.
This service receives 4 stars.
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