Anyone can put up a website to sell forex trading signals but just how reliable are the trading signals? If I do an online search for forex trade signals almost all the top ten results offer trading signals with no audited results and questionable client testimonials.
One forex signal provider charged $295 per month for daily forex trading signals delivered to your email or SMS. The trade signal performance page was well written and leads me to believe the forex predictions are spectacular and I'll earn money trading forex immediately. The site also had many client testimonials persuading the reader just how great the forex forecasting is and that the trade signals were timely and accurate.
I guess some forex traders are so desperate they'll try anything only to get ripped off with bogus websites offering fake forex daily signals, bad robot generated forex alerts, and fake client testimonials.
Before you invest your hard earned money subscribing to any forex alert provider here are some tips to make sure you get what you pay for:
1.First and foremost make sure the forex recommendations are independently audited by a reputable third party such as Collective2 or Myfxbook. These companies help you search for a money manager and show the trading signal provider's public portfolios for you to see if they are capable of making the returns you're looking for. Remember, the results you see are real and verified.
2.Don't pay over $200 per month to a trading signal provider. Accurate forex signals are hard to come by, but good honest and verified trading signals do exist and will make you a lot of money over time.
3.Accurate forex trading signals are not generated hundreds of times per day or week, but good quality forex alerts are sent once per day or three to four times per week. Be cautious of any signal provider offering over 5 trading alerts per day.
4.Customer service is always a good sign of reliability. Does the forex signal provider respond to your emails, do they offer Skype, or other means of contact with your questions? Make sure you can communicate with a living breathing human being and not some auto-responder.
5.Make sure the forex signal provider has some expertise in the field. Do they write forex articles or are they quoted in periodicals? Check their website for useful forex trading information.
Just remember that forex trading offers many opportunities for profit as well as fraud so be careful. A rule of thumb is if the performance is not audited by an independent third party it's faked and ignore any client testimonials.
Whether you're a seasoned trader, or a novice, we are sure you will find our suggestions useful!
If you have a suggestion, idea, question, or just a comment, you are welcomed to contact us.
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