How to identify scamming signal - page 2
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
I advise that if the signal make a negative performance or no any trades in a month, subscribing fee should be returned for that month.
Me too. It appears affordable :D
No matter for burned account. Give me back my twenty US dollars, now!
MQL should abolish Cent accounts!
I totally agree. Trading is like a sea full of sharks. I hope your warning will be listened by a lot of people before buying a signal provider.
Regards.
David.
Advice to whomever believing in extremely high growth signal which thrive suddenly in short term. How to identify scamming signal:
1) Before signal is published, you will see multiple trades opened at similar price level, trades opened at almost the same time and closed at the same time as well. One thing I could assure you that this account is a fake one as you can make one your own by creating multiple account hedging each account and narrow down till a single account with the highest growth. The process consume time and lose some money for spreads, but what's wrong with losing so little money since money can be earned from subscribers again?
2) Scam signal provider always used cent account but the account currency is indicated in USD such as Procent server. It seems like the author has invested a huge sum of capital but the indicated 1,000USD is actually equivalent to 10USD only. Think about it.
3) Fancy description is what drive naive subscribers into thinking the author is a professional. "Many years of experience... investing this and that...a banker...or whatever...'; think about this if a professional really wanted to sell his service for 20, 30 or 40 USD? to earn you huge profit? Please be realistic...
Think twice and seriusly before subscribe, not to put your money at risk...
Advice to whomever believing in extremely high growth signal which thrive suddenly in short term. How to identify scamming signal:
1) Before signal is published, you will see multiple trades opened at similar price level, trades opened at almost the same time and closed at the same time as well. One thing I could assure you that this account is a fake one as you can make one your own by creating multiple account hedging each account and narrow down till a single account with the highest growth. The process consume time and lose some money for spreads, but what's wrong with losing so little money since money can be earned from subscribers again?
2) Scam signal provider always used cent account but the account currency is indicated in USD such as Procent server. It seems like the author has invested a huge sum of capital but the indicated 1,000USD is actually equivalent to 10USD only. Think about it.
3) Fancy description is what drive naive subscribers into thinking the author is a professional. "Many years of experience... investing this and that...a banker...or whatever...'; think about this if a professional really wanted to sell his service for 20, 30 or 40 USD? to earn you huge profit? Please be realistic...
Think twice and seriusly before subscribe, not to put your money at risk...
Actually, Myself I split my trades so i can split my loss by cutting my loss during draw-down while keeping the other, so your point might be wrong....
Paying back the signal-fee it's something like buying a delicious something & asking for a refund if you don't like the taste.... I saw some good signals but they didn't match with some subscribers because of a lot of reasons that's why MQL5 has their equation rules about the similarity of leverage & equity between the providers and the subscribers....
You might want to check this article too, although it's about hedging but most of its commenters are talking about their strategies of opening separate trades with the same size :)
https://www.mql5.com/en/forum/11599