Signal providers -- and do they work?

I have never used a signal provider, neither the paid nor the free ones. I honestly am very skeptical towards them, because I’m probably thinking like most people, if they are successful as traders, why would they waste their time with a website? It’s like a music teacher who is a music teacher only because he failed to sign with a record label. Not to say that’s the goal of all musicians, but I’m just trying to make a point here.

Long story short, I’m one of the victims who were scammed by Crown Forex and lost a great deal of cash. I had moved on and put this behind me, when suddenly I receive this unsolicited email that was not caught by my spam filter. It was from a website called FXextract.com and a link to their forum, where I could read the latest news about the fraud and liquidation of Crown Forex. I quickly skimmed through the articles and then shortly left after I had satisfied my curiosity. But I couldn’t stop thinking about how this website had gotten hold of my email address and knew I was an ex-client of Crown Forex.

Shortly thereafter, I am spammed again by this site, but this time they are inviting me to use their free signal service. I guess I wanted to confirm my suspicion that they were scammers (with some association to Crown Forex), trying to direct traffic to their new website or start charging for their free service, once they had accumulated enough interest. So I was about to demo the signals yesterday and kept refreshing their signal page every 15 minutes with CTRL + F5, starting at 6:00 am GMT, and then 4 hrs later at 10:00 am GMT, the page had finally been updated with the new signals, but the page said that the update took place 8:30 am GMT, i.e. 90 minutes earlier.

So I wrote in the forum that they were supplying historical price data that are useless and demanded an explanation. The admin and his alter egos lashed out at me and said that the signals were available at 8:30 am GMT and I just didn’t know how to update the page properly. Then when I asked him to post a copy of today’s signals in the forum so that we can get a date and time stamp exactly when the signals are delivered, I shortly found all my posts in the forum deleted. I then wrote back one last time to say I was going to report him to the Forex Peace Army, when he suddenly complied and accepted my challenge.

Amazingly, he did indeed have the guts to post the signals in the forum today. Why, I don’t know, as every single entry price of the 6 forex pairs he posted had not been touched. I did not check the commodities. So I wrote him back many hours later after he had delivered the signals and mentioned his failure to him and asked him why he doesn’t post daily, weekly and monthly results. And again, I found all my posts deleted. I have now reported him to Forex Peace Army and that’s the end of that. I have attached a screen shot of today’s signal page, so anyone can confirm on their charts that what I said is accurate.

So both my initial skeptic feelings about signal providers and first experience with one has been negative. So again, my question is if anyone here has had any success with one? And is it a paid or free service? Just curious.

I have a feeling this is advertisement for this website

Agreed. Plus the site looks like a scam after reading some of the posts from the admin and the whois information.

Wonder whatever happened to Jay Walker...

I really love this site. I think i have seen it all.

I am starting to understand the frustration that others feel when trying to tackle this project( becoming a trader) on their own..

Honestly, If it wasn't for the people who have around since Retail FX blew up, we would continue to fall for these scams.

Wasnt F.P.A a scammish site too?
I don't even know what to believe now. The only advice that I can give, is Be like the critics here. Be very skeptical.

Hi, off course tehre are signal providers which work. some are even free of costs to you, some work on subscription basis.
the problem is to find the right signal on these plattforms.
I found out that more then the % of wins is the drwadown AND are there an Stopps used and how far are the away from entry signal, aswell as the Take Profits.
I think a good provider doesn´t need to have more then 50% of positive trades to be still profítable.

Another potential side effect of these scams (all signal providers); credit card fraud.

I've purchase virtually everything on-line -- computer hardware/software, clothes, music, furniture, hair shampoo/cond... etc., and have been for many years. I've never had one issue with a fraudulent CC charge. I signed up for a signal service out of curiosity... didn't think about the CC issue at the time.

A few months go by and I get a ph call from my bank saying there was a specious charge on my account. Sure enough, it was some bogus overseas based website. The $ amt was low so I didn't catch until the bank inquired.

Sneaky bastards.

It doesnt have to be fraud, I'm a signal provider please check my thread, it has a verified Myfxbook and we are launching in 8 days. A lot of people are scammers but a very few honest people are still out there.

Cheers and get in touch

Never follow signal! Trade on your own! Why do you guys look for signals? That is the easiest way to lose you money! Do you want to lose your money? Then give just give it to me instead! Look man, I have tried all of these services, no one seemed good. Everyone has false claim about profit but they actually manipulate the results regularly. Only once I considered to join a site, Forexprofita.com. They seemed fair to me. But finally, I didn’t try. Because I have doubt that they are also showing false result of 80% winning rate. You can have a go with them and see if they can produce what they claim. Let me know the result please. If they can’t, never subscribe to any signal service again!

found this good free signals telegram channel which I though of sharing with you:

https://t.me/AAAAAEKoefSjjhNmSin6Pw


I hope you like their performance and get profits.