Beware Of Currency Trading Scams

We decided to give this company a look at ahead of writing anything with regards to them. There is a lot of bad chit chat on the web with regards to the dishonesty level of their Forex Signals service therefore we had to find for ourselves if it was true or not. Sadly, it's all correct. The performance statistics they post, including all the trade details, are entirely and absolutely different than what you would certainly get. They are not even close. There is no denying it.

When we mailed them about inconsistencies with the trades, they would rapidly respond "Oops, thanks we will fix this immediately" which would come from the CEO Mauro Sciaccaluga however absolutely nothing was ever resolved. When we asked to cancel our membership and for a refund per their guarantee, there was no response. Not really a major surprise. If the service is counterfeit, so would their money back guarantee. Hopefully no one is silly enough to buy into their Lifetime membership offer. Lifetime offers are usually tip offs to scams.

Is there any approach of getting our cash back? Absolutely no! Because Mauro utilizes for his transaction plimus which operates in a comparable fashion to paypal and because his product is a service, under their user agreement, they do not provide charge backs on services. If it had been a product, possibly we would have better luck.

Yet another item in which we find is very suspicious is their connection with the forex broker AvaFX. Buy Forex Signals offers 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. Thus it's evident to say that much like a casino in Las Vegas, they would like you to lose and how else better to do so than with the use of the losing signals you will acquire from Buyforexsignals.com. When it comes to currency brokers in common, it would be smart to stay away from Dealing Desk Market Makers. They are comparable to online gambling sites that do not want you to win. They will do everything in their power to make trading difficult for you with stop loss searching and re-quotes. And if you happen to overcome them and turn a profit in your account, odds are they will turn up the heat and make it even more tough till they can get you to blow out your account.

So what are the three lessons discovered here? One, be very cautious when buying a Currency Signals program or any program for that matter making use of Plimus, paypal or any third party service as your method of payment. Your best bet is to simply use your credit card directly as payment. If Paypal or Plimus is all that they use, then turn away. No one is that distinctive to where you must take on the risk of losing your funds.

2nd, which is more critical and will outrank the 1st, in no way ever spend for a trade predicting service regardless of whether it is Forex, Stocks, Bonds, Futures or anything that is predictive unless they provide a FREE TRIAL. The demo ought to be for a bare minimum of two weeks. If they do not offer you a demo, run like heck because chances are that they have got nothing good to provide and they are banking on you buying into their seductive promises of big profits for a Month, Quarter or a Jackpot (to them) One Year subscription. With regard to cons such as these, it is not about renewals; it's about making that one particular purchase. A sale that is nothing more than a rip-off to get your money.

And finally the third lesson; be careful of Dealing Desk/Market Maker Fx Brokers. Their business model is developed to profit via your losses. That is not a broker you need or must be undertaking business with, specifically when they partner with unethical businesses that do nothing but supply you with losing trades.

By: Mauricio Williamson

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