We decided to give this company a try out ahead of writing anything concerning them. There is a lot of unfavorable chit chat on the net about the dishonesty level of their Forex Signals service so we had to find for ourselves if it was true or not. Unfortunately, it’s all true. The performance figures they post, including all the trade details, are completely and absolutely diverse than what you would likely get. They are not even close. There is no denying it.
Whenever we mailed them concerning variance with the trades, they would swiftly answer “Oops, thanks we will fix this immediately” which would come from the CEO Mauro Sciaccaluga however nothing was ever repaired. When we asked to cancel our subscription and for a refund per their guarantee, there was no answer. Not really a large surprise. If the service is counterfeit, so would their money back guarantee. Hopefully no one is crazy enough to buy into their Life time membership offer. Lifetime offers are normally tip offs to scams.
Is there any way of acquiring our money back? No! Because Mauro uses 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.
An additional item in which we find is very suspicious is their connection with the forex broker AvaFX. Buy Forex Signals offers members a free subscription to their services when you open an account with at the very least $500 at AvaFX. Why is this suspect? 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 evident to say that much like a gambling establishment in Las Vegas, they desire you to lose and how else better to do so than with the use of the losing signals you will get from Buyforexsignals.com. When it comes to currency brokers in general, 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 hunting 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 tough until they can get you to blow out your account.
So what are the three lessons realized here? One, be extremely watchful when buying a Currency Signals program or any program for that matter using Plimus, paypal or any third party service as your method of payment. Your best bet is to only 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 exclusive to where you ought to take on the threat of losing your cash.
Second, which is a lot more important and will outrank the 1st, never ever shell out for a trade predicting service regardless of whether it’s Forex, Stocks, Bonds, Futures or anything that is predictive unless they provide you with a FREE TRIAL. The trial ought to be for a minimum of 2 weeks. If they do not offer you a trial, 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 pledges of big earnings for a Month, Quarter or a Jackpot (to them) One Year subscription. For frauds such as these, it’s not necessarily about renewals; it is about creating that one particular sale. A sale that is nothing more than a rip-off to take your money.
And finally the third lesson; be leery of Dealing Desk/Market Maker Fx Brokers. Their business model is constructed to profit through your losses. That is not a broker you need or must be undertaking business with, particularly when they partner with sketchy organizations that do practically nothing but provide you with losing trades.
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