THAPELO FOREX COMMUNITY Telegram Channel Review: Scam Channel or Trading Hub?
With the increasing number of telegram channels, which offer signals as the way of making fast cash, it becomes harder to distinguish the scams from legitimate platforms. Though some of them are worth attention, most of them are aimed at making you spend your money. In today's article, we are going to reveal the truth behind THAPELO FOREX COMMUNITY Telegram channel.
At first sight, it sounds quite impressing. With over 106,000 subscribers and 34,000 average views for every post, this channel looks like a serious and trustworthy one. However, digging deep into the trading data provided by the company proves to be completely opposite. Let us find out more about this channel and why you should consider it to be a danger for your trading account.
Channel Overview
Telegram Channel Link -Ā https://t.me/FXGOAT0
Attribute | Details |
Channel Name | THAPELO FOREX COMMUNITY |
Started Operation | February 27, 2020 |
Subscribers | ~106,803 (Large channel) |
Posts Per Day | ~10 (Active) |
Views Per Post | ~34,000 |
Social Networks | |
Main Content | Free signals, Trading Results, Trade Updates, Paid Channel Promotion |
Markets Traded | XAUUSD (Gold) Only |
Free Signals/Day | 1-3 on average |
Trading Style | Scalping |
Trading Session | London |
Win Rate (Free) | 32% (Backtested over 6 months) |
Risk/Reward | Losses are ~2x larger than wins |
Paid Services | VIP Premium Channel |
VIP Subscription | Yes, has a subscription bot |
Real Person/Face | Yes |
Free Education | No |
Our Verdict | Scam / High-Risk |
Red Flags & Analysis: The Truth About "THAPELO FOREX COMMUNITY"
Let's check out our conclusions based on the information about their free signals, which are the basis of access to their VIP signals.
1. The Format of Signals and Trade Management (Recipe for Disaster)
This channel offers signals for XAUUSD (Gold). Here is an example of their signal format:
BUY XAUUSD NOW
4429.72 - 4433.79
TP1 4439.67
TP2 4445.88
TP3 4452.09
TP4 4458.30
TP5 OPEN
SL 4417.10
Although the signal format looks quite professional, the strategy of their trade management makes us doubt their profitability. Very often the suggestion of moving stop loss to break-even point when the price is still in entry zone. Take partial profits after every TP and can do it on any random price level between TPs.
It allows showing a lot of winning trades (hitting small TPs), but when a trade goes wrong, the stop loss is big.
2. Results of Backtesting: Harsh Realities
We backtested free signals of this group for 3 months using AI. The results were disappointing.
Win rate: The average winning rate is 32%, which means that you will lose more than 2 trades from 3.
Risk-Reward Ratio: On average, losing trades are 2 times bigger than winning trades. As the channel suggests taking profits earlier, winning trades are small. On the other hand, the losses are enormous when stop-loss is reached. This way, it creates the negative risk-reward ratio and makes the trading impossible to be profitable.
3. Lack of Consistency and Randomness
The first obvious sign of the channel's inefficiency is its inconsistency. Some days there can be 0 signals, on others, there can be 1 or even 4. This number is always random. This sporadic approach shows that the channel does not belong to the professional trading company, but rather to somebody who is gambling in the markets.
4. The VIP Trap: Garbage In, Garbage Out
The channel promotes its paid premium channel very often. Considering the fact that free signals are forwarded from VIP group, we can say that the VIP signals are of poor quality too. As the "free samples" have 32% win rate, the paid ones are not better, probably even worse.
The Bottom Line: Is THAPELO FOREX COMMUNITY a Scam?
There are many red flags that you should pay attention to before joining their VIP. Combination of low win rate, poor risk-reward ratio, lack of consistency, and poor trade management is the system which cannot help in your successful trading.
0/10 TRUST SCORE
Following free signals of this channel, you will lose your trading account in 2-3 weeks. The channel makes its money from subscriptions, not from trading. Promoting a VIP channel based on such losing strategies, we can only say that this channel is a scam channel, aimed to make money from naivety of unexperienced traders.
