Expose Review: SimpleCharts Free Forex Signals Telegram Channel – A Proven Scam

Forensic examination of the Telegram channel "SimpleCharts Free Forex Signals" demonstrates an advanced, highly deceitful operation. Pretending to be a traders' community, the channel is actually used for exclusively advertising purposes as a promotion for a paying VIP service, the performance of which is constructed on the basis of simulated and impossible math results. Everything on the channel—rarely occurring, weakly constructed free signals to outrageous profitability announcements—is constructed for taking advantage of vulnerable traders' need for quick profits. This analysis finds the channel to be a scam, and we recommend all traders avoid the channel in full to avoid severe financial loss.

Channel Overview 

Telegram Channel Link - https://t.me/simplechartseng

Aspect	Details	Implication
Channel Name	SimpleCharts Free Forex Signals	Presents as a source for free trading ideas.
Launch Date	November 14, 2022	Has been operational long enough to build a facade of legitimacy.
Subscriber Count	~7,691	A medium-sized audience, making the scam more convincing.
Avg. Posts/Day	1-3	Low activity, focused on promotional content, not analysis.
Avg. Views/Post	~1,400	Indicates a mostly real, engaged audience being misled.
Primary Market	Forex	A complex market often targeted by scam operators.
Free Signals	Yes, but extremely rare and low quality	Serves as ineffective "bait" for the VIP "switch."
Paid Services	VIP Channel Subscription	The primary revenue source, predicated on false advertising.
Verifiable Trader	No (Fully Anonymous)	Zero accountability, a major red flag for financial advice.

Value Illusion - Disassembling the "Free" Offer

The channel's free content is the first point of contact for potential victims and is deliberately engineered to create a false narrative.

Strategic scarcity: only providing one free signal every 1-2 weeks is a strategic choice. There is no scope for building any substantiative record among the followers, so empirical verification becomes unattainable. Also, it creates false demand, compelling the users to feel, "If the free ones are so scarce, the paid ones must be really brilliant."

Intentionally Designed to Fail: Not only is the free signal's architecture poor, but it's fundamentally flawed and either represents gigantic incompetence or malice.

Let's dissect the example below:

📣 ATTENTION: Free signal

🤏 SELL AUD/CAD 0.9018

TP1 - 0.8998 (20 pips)

TP2 - 0.8968 (50 pips)

TP3 - 0.8918 (100 pips)

Stop Loss - 0.9068 (-50 pips)

Risk-Reward Ratio: To the nearest first profit target (TP1), the distance is just 20 pips, with the stop loss at 50 pips. This results in an awful risk-reward ratio on the order of 1:0.4 (risks 50 pips for potential gain of 20). Good trading is the polar opposite—reward needs to substantially outweigh risk.

Spread Impact: AUD/CAD is one such cross pair that tends to have a larger spread. A 2-3 pip spread would eat up most of the 20-pip TP1 target, bringing the effective risk-reward ratio near 1:0.3.

Partial Close Trap: Several TPs with partial closes are misleading. Even after TP1 is reached, the remainder of the open position is left vulnerable. Gains on the initial close on the whole do not counterbalance the full loss initiated in the event price reverses to the stop loss.

Empirical Evidence of Failure: Our independent back-testing of all free signals over a six-month period confirms the structural failure. An average win rate of only 32%, when combined with the horrific risk-reward profile, would have resulted in catastrophic and rapid account depletion for any follower.

The Fabricated Fantasy - The Impossible VIP Dream

The majority (90%) of the channel's coverage centers on self-promotion for its performance statistics for its VIP package that defy all reason and economic logic.

The Impossible Numbers: Publicly advertised pip gains for the channel's monthly VIP membership are the following:

• January: 8,970 Pips

• February: 10,604 Pips

• March: 10,143 Pips

• April: 11,491 Pips

• May: 8,975 Pips

• June: 10,545 Pips

• July: 10,180 Pips

Why These Numbers Are a Mathematical Fairy Tale:

Consistency is a Mirage: In actual trading, markets fluctuate between trends and ranges. No strategy could possibly make such hyper-consistent, linear profits every month. This robotic consistency is a surefire indication of faked results.

Scale is Nonsensical: To make over 10,000 pips in the course of a month would involve taking hundreds of trades with gigantic position sizes. This would imply an edge-capturing strategy that would register on each slight market tremor, impossible without full-time, high-risk. Scalping that would certainly involve enormous, frequent losses—losses that for some reason aren't seen in the reports.

Inconsistency with Free Signals: This is the most severe weakness. If the owners had a system that would yield 10,000+ pips monthly, why would the free signals be meager with only a 32% winning ratio? In actuality, an expert would have no issue publishing one high-quality signal per week in order to create value and establish credibility. Inability to do so verifies the results in the VIP program are not legitimate.

0/10 TRUST SCORE

The Hallmarks of a Scam - Additional Red Flags

Anonymity (No Face, No Name, No History): There is totally no transparency. The invisible parties hiding behind the channel accept no responsibility for the losses which their signals will cause. You are entrusting your money with a phantom.

No Educational Content: There is no market analysis, education, or trading information on the channel. Its only intention is to be an ongoing infomercial, bombarding the subscriber with promises of money to wear down their disbelief.

Unprofessional Operation: Not having a separate VIP subscription bot indicates manual processing of payments, which is unprofessional and doesn't provide the security and transparency automated systems afford.

Final Conclusion and Strong Warning

The channel "SimpleCharts Free Forex Signals" is the best example of the finance scam existing in the unregulated market of social trading. The evidence is irrefutable:

The "bait" (free signals) is designed to be ineffective and unprofitable. The "switch" (VIP service) is advertised with provably incorrect and unattainable performance promises. The entire operation is anonymous and unaccountable.

The sheer gap between the non-performance of the free signals and the claimed performance of the VIP service is the surest evidence of deceit. We definitively assert that the channel has no other purpose but to squeeze money out of would-be traders. You should by all means not follow its signals or buy its VIP service subscription. To buy it would mean voluntarily risking your capital on a substantiated falsehood.