The Promise Of Huge Returns Are Common In Forex Scams
We chose to give this provider a try prior to writing anything with regards to them. There is a lot of bad chit chat on the internet with regards to the dishonesty level of their Currency Signals program therefore we had to discover for ourselves if it was true or not. Regrettably, it’s all accurate. The performance numbers they publish, including all the trade details, are completely and absolutely different than what you would likely have. They are not even close. There is no denying it.
When we e-mailed them about disparity with the trades, they would swiftly answer “Oops, thanks we will fix this immediately” which would come from the CEO Mauro Sciaccaluga but nothing at all was ever fixed. When we inquired to cancel our membership and for a reimbursement per their guarantee, there was no response. Not really a large shock. If the service is bogus, so would their money back guarantee. Hopefully no one is crazy enough to buy into their Life time membership offer. Life time offers are generally tip offs to scams.
Is there any means of getting our money back? Absolutely no! Because Mauro uses for his transaction plimus which works in a similar way to paypal and because his product is a service, under their user agreement, they do not offer charge backs on services. If it was a product, perhaps we would have better luck.
An additional item in which we find is highly dubious 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 means they take the other side of your trade. If you win, they lose. If you lose, they win. Therefore it’s evident to say that very 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 obtain from Buyforexsignals.com. When it comes to forex trading 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 investing hard for you with stop loss searching and re-quotes. And if you happen to conquer 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 3 lessons learned here? One, be very mindful when buying a Currency Signals service or any program for that matter using 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 special to where you need to take on the threat of losing your funds.
2nd, which is more important and will override the first, in no way ever pay for a trade forecasting service no matter whether it is Forex, Stocks, Bonds, Futures or anything that is predictive unless they present a FREE TRIAL. The demo should be for a minimum of 2 weeks. If they don’t offer you a test, run like heck because chances are that they have nothing good to offer and they are banking on you buying into their seductive pledges of major earnings for a Month, Quarter or a Jackpot (to them) One Year subscription. Pertaining to scams such as these, it is not really about renewals; it is about creating that one particular purchase. A purchase that is nothing more than a fraud to take your money.
And last but not least the third lesson; be careful of Dealing Desk/Market Maker Fx Brokers. Their business model is built to profit via your losses. That is not a broker you want or should be carrying out business with, particularly when they partner with unethical companies that do practically nothing but provide you with losing trades.
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