I was looking for forex robots that I came across NCM signal, however, it’s not a robot for sale but it’s a signal or copy trading service that its signals are generated by an EA.
I got impressed by the results of the NCM EA, slow but steady. Unlike newbies, I don’t get mesmerized by an EA that has gained thousands percent in a few months.
Because we don’t have such a thing in reality, at least if we don’t use pure gamble.
Normally I don’t review signal providers but as the results of this forex robot caught my eyes, I decided to do complete research about NCM and see how realistic their results are and how well the service is.
So without further ado, let see what I found….
What Is NCM Signal?
NCM Signal is a system of copy trading that use a forex robot or EA to generating signals. In copy trading, you don’t need to open trades manually. The trades are placed on your account automatically.
NCM Signals provide subscription service and you can register and pay a monthly fee in order to receive signals.
Basically, you invest in their EA; however, you don’t deposit your investment into their account. Instead, you open an account with a broker and then connect it to the NCM service so that the signals can be copied onto your trading account.
Is NCM Signal Reliable?
There are some factors that we can consider to see whether a forex robot in particular and a signal provider, in general, is reliable or not.
Since there are lots of scams in this area, you need to equip yourself with some kinds of understanding of the results and stats of a strategy used by a signal provider whether they come from manual trading or the automated one.
You also need to do a background check on the reputation of the provider as well as study their terms of service and also the deal you are going to get after registration or subscription.
I did all of them on NCM Signal so that I can write a genuine review and also figure out if the service is worth subscribing to.
With that said, let’s start with analyzing the stats of NCM Signal EA…
NCM Signal Results
There are some factors that I look at to see first if the results of an account are reliable and not fake and second how well they are.
First off, NCM signal has a fully verified Myfxbook account that their EA has been running on since February 18 so the result is for more than 2 years which is a reliable time period and is related to a completely verified account so that you can trust it to a great extent.
Although having an account, verified by myfxbook, authenticates results more than 90% but there are still some tricks that an account holder can do to skew the results of their accounts.
One of the common ones is depositing to the account over and over in order to decrease drawdown. Since lower drawdown means less risk and is one of the metrics showing the quality of a strategy, you see some people do such a trick.
Now, how you can find that?
If there is a difference between Gain and Abs.Gain (absolute gain) in the results of an account, it’s the sign of money injection.
As you can see, there’s no difference between gain and abs gain in the results of NCM signal account — a few percents don’t matter.
The robot has also traded 791 positions within the 2+ years which is an acceptable number.
Now that we know the NCM account has enough reliable data, let’s examine other factors demonstrating the quality of a strategy.
As we saw earlier, drawdown or max drawdown is one of the factors which is considered important when it comes to the results of a strategy.
It means how large a strategy is prone to lose.
So the lower the less risky but in general, below 30% is acceptable.
As you can see the NCM account has only 12% max drawdown that puts it in the category of low-risk strategies.
However, there’s an option, when you want to subscribe to the service, that allows you to choose the maximum drawdown you accept for your equity.
You can pick something from 30% to 100% so if you want low risk, you can pick max 30% and if you want to increase your chance of getting more profit, you can risk more and set a higher max drawdown.
The next factor that I look at is profit factor.
Basically, any strategy with a profit factor bigger than 1 is profitable, however, 1.5 and above is the PF that I look for and I think represents a good strategy.
The result of NCM EA shows a profit factor of 1.88 which is another reason that convinces me to accept this strategy as a profitable one.
Another metric that I notice is to see if an account has a large floating loss.
If an account has a massive floating loss, it means there are lots of trades that are kept open, some for a long time, because the owner of the account doesn’t want you to see the real gain.
And sometimes when he/she closes those open trades, you see something like this:
The way that you can see if an account has a floating loss in myfxbook is to see what percentage of balance is equity. Since floating loss is actually current drawdown so we treat it like max drawdown which means less than 30%.
As you can see there’s no difference between balance and equity on NCM results and equity is 100% of the balance.
The next factor I look at is the results during the time period of the account. I want to see if the result is just for a few months or the account has the trades for every month.
Some people trade for example two months while the age of their account is one year. It means they’ve selected just a few months to trade but let their account grow older to get credibility.
But it’s not what you see in the account of NCM Signal. Their robot has traded every month since they opened the account.
This service is not some kind of hocus pocus promising you a large profit percentage.
As you can see on the above pictures, what you can earn each month is something like 5% on average. One month you may get 1% and another month it brings you 10% as profit.
I like this kind of real results. First off, it’s definitely possible and second, the combination of it with other factors such as drawdown and PF makes sense and shows the authenticity of the results.
NCM Signal Trial
NCM Signal has a one month trial so that you can use their signals and see if they are really profitable and whether you want to pay for the service or not.
That’s another type of transparency that makes this service reliable.
On the website of NCM Signal, it’s stated that their EA uses moving averages as the base of its trading system in a way that one moving average detects the direction of the market, it must be the MA with the larger period, and the robot uses another MA to find the best entry point.
The EA also applies a grid type of money management to get out of a sequence of trades with a profit in the end.
Grid strategies are like a double-edged sword. They are dangerous and destructive in the hands of inexperienced traders but they really come in handy when a professional trader utilizes them.
I looked at the statement of the NCM account to see what their strategy really is and I have to say they‘ve combined those tools and methods very well and created a highly reliable strategy.
How to Subscribe to NCM Signal
There are two types of subscription fee: $39 and $ 79.
First off, you must have an account with IC Markets broker because NCM Signals only accepts clients who have an account in that broker.
I don’t think that would be a problem because IC Markets is one of the top forex brokers in the industry. I’ve reviewed forex brokers for lots of categories and this broker has always been on the top 10 in every category so that’s a good choice.
NCM has 2 reasons for that…
First, they say that their system or EA has been running on an account in that broker and has worked well so they don’t want you to change that factor.
Second, they are IC Markets’ IB so they receive commissions from every trade that are made if someone registers via them.
Of course, it’s not gonna affect you in any way because brokers share their own revenue (spread and commission) with their IBs and IBs get paid because they bring clients to brokers.
As a result, NCM Signal receives money for the clients registered with IC markets under their affiliate or IB code.
That’s why they have 2 purchase plans. If you open an account in IC Markets under their IB code and deposit $2000, you pay $39 per month; otherwise, the subscription fee goes up and becomes $79 and the minimum deposit is $1000.
It’s worth noting, since we expect 5% per month on average, less than $2000 won’t actually give us any profit.
All in all, if you don’t have a very large account in IC Markers with some extra benefits, you’d better choose the $39 plan.
You can purchase NCM Signal service from the subscription section on the NCM Signal site.
The Bottom Line
Most signal services lack transparency and an unbiased result confirmed by a third party site because they are not really profitable so they try every trick in the book to enchant prospects and convince them to purchase their shoddy signals.
That’s why finding a transparent and profitable service in this atmosphere is rare.
After reviewing NCM Signal from different angels, I’m convinced that they are reliable and true to their words and can benefit their subscribers.