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Does this look fake to you..? Forexsignal30

Discussion in 'Scam Alerts' started by fxrulez, Nov 22, 2009.

  1. fxrulez

    fxrulez Recruit

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    G'day everyone,

    Ive been doing some research on different successful fx trading systems sold on the internet. I managed to find one. The person/company selling the indicators or software package has give his FXDD demo account log in details to prove that he has made profit consistently. I logged in and to my surprise (take a look at his statement)...You'll have to download it from the link below..

    zSHARE - Statement-Demo.htm

    Main website: ForexSignal30 - Forex Signal Indicator 100% accurate, system really works

    Can this be a haox? Can someone really fake an fxdd broker statement..OR is it for real..?

    Thanks for any input
    fxrulez

    ----
    P.S

    If you have a Demo FXDD installed on your pc you can actually log in and check the statement.

    Login : 7364584

    Investor password : t5ryplq

    ----
     
    #1 fxrulez, Nov 22, 2009
    Last edited: Nov 22, 2009
  2. fxrulez

    fxrulez Recruit

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    Im sorry, not sure why those links didn't get posted up properly. Exclude any brackets in the above links...

    Thanks
     
  3. Doji Dog

    Doji Dog Private

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    Let me see if I have this right. This is a $999 system that never loses. It is now for sale for $30 with a $1000 in free bonus stuff. What is wrong with this picture?

    I looked at the account. First question I have if it is so good, why such low returns per position? Why was there no increasing position size?

    What is all that historical bonus stuff really worth? One of the best things I ever did for my trading was to throw out all the historical free bonus stuff unless it was something specific I nneded and focus my energy & time on the here and now.

    Full disclosure time. I obliterated 3 50K demo accounts in 60 days when I started with Forex trading. Learned many things including Forex is a here-and-now trading environment affected more by news than anything else. My commodities/stock trading did not work very well in Forex.

    Current account opened Nov 01. 50K account. Up approx 40K gross. Net 30K+. All lossed were due to stupid brainfarts and not following the rules.

    Net-Net: Take the time to learn the movements of the Forex markets. Learn to fish instead of listening all hypsters handing you fish.:err:
     
  4. Pharaoh

    Pharaoh Colonel

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    Let me see what I can tell you without actually doing a download or logging in. This advice would apply for checking anyone's broker statement.

    First, it's good that you actually have an account to login to. There are ways to fake statement uploads, even to "independent" sites. Directly viewing the account while connected to the broker removes statement tampering from the list of potential issues.

    That being said, now comb the statement more carefully. Check the trade amounts carefully. How much of the account would have been lost if the stoploss would have been hit? Is there a stoploss. It's not that hard to make a LOT of profit quickly if you take excessive risks. The problem with this strategy is that there's also a good chance of getting wiped out in a few trades.

    Another thing is to monitor the statement (and what account info they share) over a period of several months at least. Someone could create 20 demo accounts, trade using 20 different strategies, and then display the best one. You want to be able to follow an account that is used for continued trading, not pray that you weren't showed the "pick of the litter" only after trades are placed.
     
  5. fxrulez

    fxrulez Recruit

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    Great post!

    What you said does make a lot of sense. If you take a look at the statement, you'll notice that he/she has bought about 30 different 1.00 lots one after the other other consecutively without actually using a S/L of any amount. The person has done this as thought he/she was 1000% sure that the market was going up for at least another 50 or so pips which is strange.

    Will keep monitoring the account for another week or so like you suggested.

    Thanks
     
  6. Tomas Bocek

    Tomas Bocek Recruit

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    Hello

    Hello Guys, is somebody from you using those ForexSignal30 indicators?
     
  7. Cool Men

    Cool Men Recruit

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  8. 4x4Ever

    4x4Ever Private, 1st Class

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    Strange...aren't testimonials alot like back test results??? Unless you can of course 110% verify all testimony. Just a thought

    Have a great weekend!

    Markus
     
  9. Pharaoh

    Pharaoh Colonel

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    There's a difference. Testimonials are even easier to fake than old results.
     
  10. Johnfa

    Johnfa Private, 1st Class

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    Forexsignal30 is 100% SCAM!

    Hi all,

    Forexsignal30 is 100% SCAM!

    This site show A LOT accounts performance very good result. Why it's not show 1 account only? Because if any account has BIG DD they will move to new one.

    Here is example: MT Intelligence - Statement for forexsignal30. This account #996333 (I forgot the investor password).

    At this moment it's DD ->48k and they post a new account on their site:

    Login : 1011989

    Password : ypyf0bs

    MetaTrader 4 Trading Terminal / MetaQuotes Software Corp. (MT4).

    I am sure 100% if this new account begin get BIG DD they will change a new one and so on... forever!

    Stay away to this SCAM!

    There are a lot scam system on FPA called "100% accurate signals system" or so. You MUST ask the performance or public forum signals evidence at least 1 year before buying any thing.

    If they can not give evidence, stay away from them!
     
    #10 Johnfa, Apr 2, 2010
    Last edited: Apr 2, 2010

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