Please read this article very carefully, it wasted money and can save you a lot of trouble. Whether you have subscribed to some forex signal services or not, especially if you have not, there are things that you should be aware of. This article is an effort to educate you about traps and the real dangers associated with subscribing to ANY signals-service. Never forget that, if you subscribe to services that are unreliable or untrustworthy, using the signs might cost you itself. And don’t be tricked by performance reports, or results that were artificially inflated. Many tricks have been used by websites that were unreliable to lure people into subscribing to services that were questionable. Please read below about some of the traps and tricks that are being used against you, so that you could use your common sense and reason to recognize and avoid them.
1) ALWAYS demand a FREE or low-priced trial. If a signals-provider does NOT offer a FREE or low-priced trial of their service, that’s a big red flag right there. Let’s explain why, in detail. If a signals-provider is trustworthy, and provides reliable and profitable signals (for any price), then the bеst thіng thеу саn dо fоr thеmsеlves is to offer a limited-time trial for $1 usd or a completely FREE-subscription to everyone, so that when customers try the service and actually make money, the customers then become monthly subscribers for many years (wouldn’t you do the same?) On the other hand, why would a forex signals-provider NOT provide you with a cheap or free subscription? Don’t they need to make you a subscriber after all? The easy answer is that they can’t give you the opportunity to check their service because you will probably realize it’s a service long before the free trial ends, and you will not pay the subscription.
2) Never rely on past-performance results shown on websites. Anyone can post any results, or use secrets to inflate the results readers are checking those. It might be better to look at those as they are likely either false or inflated.
3) Be careful with services that provide SMS alerts. SMS alerts are NOT bad, but signal services that rely on SMS alerts for trading never work. If informed by SMS, and when you carry a notebook with you-you will miss opportunities. But that’s not the issue. Services that use SMS alarms use trading systems that depend a lot on a quick response.
4) There were cases of sites that were very new, yet claimed to have been around for years or even more than a decade, and they showed completely false performance information, but, they weren’t easily recognizable by the newcomer. You may want to do a “whois” check on the domain to see if you can find any lies uncovered. To do so, use a free whois service (e.g., http://whois.domaintools.com ) and enter the site URL of the supplier, then click on “lookup” and the next page click on “registration.”
5) If you see websites that use those premade, professional-looking stock-photography pictures of people who look like traders in the certain workplace, be suspicious. They are currently pretending to be a business when they don’t even have a proper real professional image, and they use pictures that are stock-photography instead. If you can not tell the difference between company pictures and stock photography, don’t worry too much, there is a ton of stuff mentioned previously. We would prevent websites that have tons of those little free applications or widgets with flashing forex prices and news. They are trying to look professional in a very unprofessional manner since if they were professionals, they would not have to present useless or irrelevant information.
We hope we enabled you to recognize and avoid unreliable or fraudulent services, and helped open your eyes. As уоu саn sее, thеrе іs а tоn of stuff that may expose providers, but the truth is you do not need a checklist like the above to filter out the bad providers.