GOLD PRO TRADER Review: Is This Telegram Channel a Scam?

Forex trading is a fast-paced environment, and trying to find a reliable signal provider via Telegram is like trying to find a needle in a haystack. However, GOLD PRO TRADER is a Telegram channel that has close to half a million subscribers, which makes it a significant player in the gold trading environment. However, after conducting extensive tests and analysis, we have found that the GOLD PRO TRADER Telegram channel is not a reliable source of income and is, in fact, a sophisticated scam that uses false information to entice traders to join their premium service. The following is a brief overview of the channel before we proceed to the analysis of the GOLD PRO TRADER Telegram channel scam.

Channel Overview:

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

Feature	Details
Channel Name	GOLD PRO TRADER
Operates Since	27 November 2022
Subscribers	486,991 (Majority appear to be fake/bot accounts)
Activity	Very Active (25+ posts/day)
Average Views	~1,600 per post
Main Content	Free signals, trade updates, paid channel promotions
Markets	Gold (XAU/USD)
Trading Style	Scalping
Free Education	No
Paid Services	Premium/VIP Channel
Verification	No real person/face behind the channel

The Signal Analysis: Why We Believe This is a Scam

We have tested and used the popular free Gold signals Telegram channel and have found several significant red flags that lead us to believe that the GOLD PRO TRADER Telegram channel is a scam.

We will first discuss the way the GOLD PRO TRADER Telegram channel provides signals to traders. A normal free signal provided by the GOLD PRO TRADER Telegram channel will look like the following:

BUY GOLD@ 5043

TP1: 5046

TP2: 5050

SL: PREMIUM

At first glance, the signal seems like a normal market order. However, after conducting further analysis, we have found that the GOLD PRO TRADER Telegram channel uses false information and that the free signals provided by the channel are, in fact, pending orders.

Most often, this price will never reach an entry level for limit order activation, but the channel owner will say that this winning trade is caught. This enables the admin to send dozens of “winning” signals every day without ever risking any real market execution.

Secondly, we can see that free signals do not have a stop loss. The truth is that VIP - Paid signals are actually the same as free signals. The real difference is that the VIP package includes a stop loss level. This is a huge red flag. A stop loss is one of the most fundamental risk management strategies that any trader uses. It is unacceptable for any channel to not provide this.

The Fatal Flaw: Reward vs. Risk

After testing free signals from this Telegram channel, we found that the average size of TP1 is merely 30 pips.

We measured the average price deviation in an unfavorable direction from the entry level for 50 free signals, which are claimed to be winning ones. The average deviation is 80 pips.

This shows us how this scam actually works. This means that one will need to set a huge stop loss to reach that magical 34% winning percentage that these free signals offer. Let’s analyze this data for a trader:

• Average Take Profit 1 (Gain): 30 pips

  
  

• Average Required Stop Loss (Risk): 80 pips

  
  

• Win Rate: 34%

Despite the fact that the win rate is 34%, the huge stop loss will offer an awful reward to risk ratio for these signals with huge potential losses and very small rewards. In short words, you are right only about one third of the time, but your losses are almost three times bigger than your profits. This is the mathematical formula for wiping out your trading account.

To take your attention away from these false math calculations, the owner of the Telegram Channel, mt4 trading account, with running profits, will try to mislead you with screenshots of unverifiable mt4 trading accounts.

Conclusion

GOLD PRO TRADER is a classic case of a Telegram Channel that uses false information regarding their subscribers, false information regarding their pending order signals, and false information regarding their winning rate to sell their premium subscription package. They are hiding their stop loss and offering a signal with a very poor risk/reward ratio, which is a setup for failure.

0/10 TRUST SCORE

Verdict: SCAM. Do not subscribe to their channel and never try their "VIP" subscription package.