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SignalTrader.com Review

Overall Rating: (2.182)
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Total Reviews: 15
Last Updated: 2014-07-23
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greg, brantford, on, Canada

Rating:
Date of Post:2013-03-12
Review: I would like to point out that I have been watching signaltrader.com since about September 2012. 1.) I strongly believe that most of the accounts on signaltrader.com are cent accounts and not real dollar accounts they make themselves look like. If you want proof on that go on forexpros and follow the trading history there, you will see the deposits completely don’t match with bubatrades deposits and it indicates they are using cent accounts based on the deposits there. 2.) I did invest in signaltrader.com $5000 and I did make about $ 1500 in about a month. Meanwhile I was doing a lot of research and back testing on Martingale forex strategies and the results were always blown accounts. Around the end of October 2012 my dd was about $ 1800 and I knew if the market goes against me my whole account would be blown so I decided to break even and I ended up pulling out my $ 5000. Since then I have been watching them closely wondering “what would of happened if I didn’t pull my money out”. By December 2012 TacticalFX was completely wiped out and now you can’t even find him on their site. BubeGBP has had some huge losses and I noticed some of the other accounts have had huge losses as well. Some are still making money. My recommendation: if you willing to invest into martingale than just set up your own ea and do it on your own. Don’t use signaltrader.com .

khaba, Gaborone, Botswana

Rating:
Date of Post:2013-03-08
Review: Good people, i sternly warn you of this mafia trading style of signaltrader. This guys are simply here to take your hard earned money. They would open so many positions after analysing knowing that by the time correction comes, your margin is already gone, at the correction, they open big lot sizes positions(this positions will never make it to the clients' accounts) to cover for the ones that are already in negative in their accounts, by the close of the round, they have made huge profits in their accounts and guess what happens in your account....big negative. If you complain, they tell you about the new DD for the trader blah....blah...blah. I strongly urge the rest of the world to stay away from this kind of mafia trading style, they are there just to take away your hard earned money....i learnt this the hard way, i was so convinced when i started using their service that it is the ultimate trading solution.

Stay so far away from this bad guys to protect your money.

JATH, Brisbane, Australia

Rating:
Date of Post:2013-03-08
Review: I was given a promotional 21-day $100,000 demo account with Signal Trader to evaluate their service. I chose the SignalScalper trading room because the professional trader had a conservative approach and a very good track record over the 20-week lifespan of the trading room.. Well, on Friday 08 March 2013, two days into my demo account, SignalScalper found himself in some trouble with a USD/JPY trade. To my horror, using Martingale, he opened up positions of 42.66 and 25.59 lots in order to recoup the losses. To cut a long story short, his strategy did not work and he blew his own trading account as well as $61,866 from my two-day-old demo account. After this performance SignalScalper did not open another trade that night and appears to have been banished to the back rooms of Signal Trader. I had gone into Signal Trader with high hopes after careful research and analysing all the historical data of the SignalScalper trading room. This particular night was obviosly the worst in the 20-week history of this particular trading room and may even lead to its demise. The moral of the story is clear - using Martingale to recoup losses is fraught with danger. It is more akin to gambling in a casino rather than managing the funds of investors. If I had happened to open a live account with one of the Signal Trader recommended brokers, my initial deposit of $5000 would have been wiped out in a matter of hours by the strategy of the SignalScalper trader. If you are a small-time forex trader like me,be aware before opening a live account with Signal Trader.

Nicolas, , France

Rating:
Date of Post:2012-06-19
Review: It works fine. Still be aware that the two best trading rooms are based on martingale systems. Handle the risks cautiously by chosing an appropriate mirror ratio.

Johnny B, Finland

Rating:
Date of Post:2011-06-29
Review: But I feel obligated to warn you more. Lately a so called "experienced future trader", Lewis had a more than 50% draw down after a long and good run. Epic fail, a good way to steal others money. Every other trader of their site have had this kind of huge loss after a good run, and now their ever-trusted Michael is having the same, with almost $5000 floating loss. It's only the matter of time when his 11 open trades hit the stop losses. Come on, are you kidding me!? Even with lower settings this gives me huge losses.

It's obvious that this site is some kind of a scam. Experienced and veteran traders are not supposed to have such huge draw downs or let their losses run indefinitely, or at least shouldn't on a site that asks you to pay $99 per month for their service.

Stay away!

2011-06-20 2 Stars I'm having some serious doubts about this site. In every trade I fall behind a few pips compared to those so called "Experts", even though my trading is mirrored. In longer run this results that my pips earning will hardly be positive! Many times I've lost a trade cause of the spread while the Traderoom Trader has made a profit.

I don't know if the site or the broker (Markets.com) are crooks. But I think it's a cooperation between two greedy and manipulative forces. Signaltrader.com is not there to help traders but to take their money with their $99 monthly bill, that is just extra loss to the money you lost by mirror trading because of spread loss.

And besides, these Experts' average pip earning is way below 5 when viewing their history and doing a bit of calculation. It means if you have a few pips spread loss against the Expert at all time, you'll fall behind and lose your money.

Be warned.

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