We opted to give this company a test prior to writing anything about them. There is a great deal of negative chatter on the web regarding the dishonesty level of their Forex Signals program therefore we had to find for ourselves if it was true or not. Unfortunately, it's actually all true. The performance statistics they post, including all the trade details, are completely and totally diverse than what you might get. They are not even close. There is no denying it.
When we emailed them concerning incongruencies with the trades, they would speedily respond "Oops, thanks we will fix this immediately" which would come from the CEO Mauro Sciaccaluga but nothing was ever resolved. When we asked to end our subscription and for a reimbursement per their guarantee, there was no answer. Not really a large shock. If the service is untrue, so would their money back guarantee. Hopefully no one is silly enough to buy into their Lifetime subscription offer. Life time offers are generally tip offs to scams.
Is there any means of receiving our cash back? No! For the reason that Mauro utilizes for his transaction plimus which works in a similar fashion to paypal and because his product is a service, under their user agreement, they do not supply charge backs on services. If it had been a product, possibly we would have better luck.
Another item in which we find is highly dubious is their connection with the forex broker AvaFX. Buy Forex Signals gives members a free membership to their services when you open an account with at the very least $500 at AvaFX. Why is this suspicious? AvaFX is a Dealing Desk Market Maker broker which indicates they take the other side of your trade. If you win, they lose. If you lose, they win. So it's apparent to say that much like a casino in Las Vegas, they want you to lose and how else better to do so than with the use of the losing signals you will obtain from Buyforexsignals.com. When it comes to fx brokers in common, it would be smart to stay away from Dealing Desk Market Makers. They are equivalent to online gambling sites that do not want you to win. They will do everything in their power to make investing hard for you with stop loss searching and re-quotes. And if you are able to defeat them and turn a profit in your account, chances are they will turn up the heat and make it even more challenging until they can get you to blow out your account.
So what are the 3 lessons learned here? One, be extremely watchful when buying a Forex Signals service or any service for that matter using Plimus, paypal or any third party service as your method of payment. Your best bet is to simply utilize your credit card directly as payment. If Paypal or Plimus is all that they make use of, then turn away. No one is that exceptional to where you should take on the chance of losing your money.
Second, which is more critical and will outrank the 1st, never ever spend for a trade forecasting program whether it is Forex, Stocks, Bonds, Futures or anything that is predictive unless they make available a FREE TRIAL. The demo needs to be for a minimum of two weeks. If they do not offer a test, run like heck because odds are that they have nothing at all good to provide and they are banking on you buying into their seductive claims of big earnings for a Month, Quarter or a Jackpot (to them) One Year subscription. Pertaining to scams such as these, it is not necessarily about renewals; it's about making that one particular sale. A sale that is nothing more than a fraud to take your money.
And ultimately the third lesson; be cautious of Dealing Desk/Market Maker Currency Brokers. Their business model is developed to profit from your losses. That is not a broker you need or must be undertaking business with, especially when they partner with questionable businesses that do practically nothing but provide you with losing trades.
When we emailed them concerning incongruencies with the trades, they would speedily respond "Oops, thanks we will fix this immediately" which would come from the CEO Mauro Sciaccaluga but nothing was ever resolved. When we asked to end our subscription and for a reimbursement per their guarantee, there was no answer. Not really a large shock. If the service is untrue, so would their money back guarantee. Hopefully no one is silly enough to buy into their Lifetime subscription offer. Life time offers are generally tip offs to scams.
Is there any means of receiving our cash back? No! For the reason that Mauro utilizes for his transaction plimus which works in a similar fashion to paypal and because his product is a service, under their user agreement, they do not supply charge backs on services. If it had been a product, possibly we would have better luck.
Another item in which we find is highly dubious is their connection with the forex broker AvaFX. Buy Forex Signals gives members a free membership to their services when you open an account with at the very least $500 at AvaFX. Why is this suspicious? AvaFX is a Dealing Desk Market Maker broker which indicates they take the other side of your trade. If you win, they lose. If you lose, they win. So it's apparent to say that much like a casino in Las Vegas, they want you to lose and how else better to do so than with the use of the losing signals you will obtain from Buyforexsignals.com. When it comes to fx brokers in common, it would be smart to stay away from Dealing Desk Market Makers. They are equivalent to online gambling sites that do not want you to win. They will do everything in their power to make investing hard for you with stop loss searching and re-quotes. And if you are able to defeat them and turn a profit in your account, chances are they will turn up the heat and make it even more challenging until they can get you to blow out your account.
So what are the 3 lessons learned here? One, be extremely watchful when buying a Forex Signals service or any service for that matter using Plimus, paypal or any third party service as your method of payment. Your best bet is to simply utilize your credit card directly as payment. If Paypal or Plimus is all that they make use of, then turn away. No one is that exceptional to where you should take on the chance of losing your money.
Second, which is more critical and will outrank the 1st, never ever spend for a trade forecasting program whether it is Forex, Stocks, Bonds, Futures or anything that is predictive unless they make available a FREE TRIAL. The demo needs to be for a minimum of two weeks. If they do not offer a test, run like heck because odds are that they have nothing at all good to provide and they are banking on you buying into their seductive claims of big earnings for a Month, Quarter or a Jackpot (to them) One Year subscription. Pertaining to scams such as these, it is not necessarily about renewals; it's about making that one particular sale. A sale that is nothing more than a fraud to take your money.
And ultimately the third lesson; be cautious of Dealing Desk/Market Maker Currency Brokers. Their business model is developed to profit from your losses. That is not a broker you need or must be undertaking business with, especially when they partner with questionable businesses that do practically nothing but provide you with losing trades.
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Day Trading scams is a blog devoted to discovering the unkown about people and companies such as ifundtraders. Visit today to read informative articles about Mastertrader.
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