Don’t Always Believe The Promises Of High FX Trading Returns…It Just May Be A Scam
Posted by: William Riley / Category: FinanceWe decided to give this product a look at prior to writing anything about them. There is a large amount of unfavorable chatter on the net about the dishonesty level of their Fx Signals service so we had to see for ourselves if it was accurate or not. Regrettably, it’s actually all accurate. The performance stats they publish, including all the trade details, are entirely and totally different than what you would get. They are not even close. There is no doubting it.
When we emailed them regarding variance with the trades, they would rapidly answer “Oops, thanks we will fix this immediately” which would come from the CEO Mauro Sciaccaluga yet nothing was ever fixed. When we inquired to cancel our membership and for a refund per their guarantee, there was no response. Not really a big shock. If the program is bogus, so would their money back guarantee. Hopefully no one is crazy enough to buy into their Lifetime subscription offer. Life time offers are normally tip offs to scams.
Is there any method of acquiring our money back? Absolutely no! For the reason that Mauro utilizes for his transaction plimus which runs in a related fashion to paypal and because his product is a service, under their user agreement, they do not provide charge backs on services. If it was a product, maybe we would have better luck.
An additional item in which we find is very dubious is their relationship with the forex broker AvaFX. Buy Forex Signals gives members a free membership to their services when you open an account with at least $500 at AvaFX. Why is this suspect? AvaFX is a Dealing Desk Market Maker broker which means they take the other side of your trade. If you win, they lose. If you lose, they win. Therefore it is evident to say that much like a gambling establishment 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 acquire from Buyforexsignals.com. When it comes to currency trading brokers in common, it would be sensible to stay away from Dealing Desk Market Makers. They are similar to online gambling sites that do not want you to win. They will do everything in their power to make trading tough for you with stop loss hunting and re-quotes. And if you are able to defeat them and turn a profit in your account, odds are they will turn up the heat and make it even more difficult until they can get you to blow out your account.
So what are the three lessons learned here? One, be very mindful when purchasing a Currency Signals service or any service for that matter utilizing Plimus, paypal or any 3rd party service as your method of payment. Your best bet is to merely 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 ought to take on the danger of losing your funds.
Second, which is more important and will override the 1st, by no means ever spend for a trade forecasting program whether it is Forex, Stocks, Bonds, Futures or anything that is predictive unless they provide you with a FREE TRIAL. The trial should be for a bare minimum of 2 weeks. If they don’t offer a demo, run like heck because odds are that they have got nothing at all good to offer and they are banking on you buying into their seductive guarantees of huge earnings for a Month, Quarter or a Jackpot (to them) One Year subscription. With regard to frauds 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 con to get your money.
And finally the third lesson; be careful of Dealing Desk/Market Maker Forex Brokers. Their business model is developed to profit from your losses. That is not a broker you want or should be doing business with, specially when they partner with questionable companies that do practically nothing but provide you with losing trades.
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