GUILTY Case# 2016-001 | 1wildhorse vs forexsignum.com

Based on the available evidence, do you believe that ForexSignum.com is Guilty?

  • Guilty

    Votes: 79 100.0%
  • Not guilty

    Votes: 0 0.0%

  • Total voters
    79
  • Poll closed .

1wildhorse

Private, 1st Class
Messages
434
Original FPA Traders Court Submission:

I am submitting the case against: forexsignum.com

My Case is: After browsing through several signal providers, I decided to try out this Forex Signum. According to their website, they provide a signal with an impressive average of 5000 pips a month. They offer 2 options, either via payment or the client subscribes with their recommended broker. So I created a $10k account to get the signals for free.
Initially, I opened an account with fxgrow, but after a couple of weeks(profitable) Forex Signum decided that they didn’t want to work with this broker anymore, so I was forced to switch brokers to XM. And this is where the whole issue started.
First the copier that they supplied was opening trades much larger than the recommended (and set by me based on their instructions) size of 0.08 per 10k. Instead, the size of the first 2 trades was 0.3 and 0.5 lot trades.
I questioned what was happening and was met by the response that trade sizing was correct, and “we know what we are doing”. After enquiring a bit more, I was met with a rude answer “your copier is now switched off and go play elsewhere”.
I apologized for the repeated enquiry and asked them to run the copier again, but for some reason the copier no longer worked. So they offered to add my account to their personal VPS. I reluctantly agreed.
Within 18 hours, the account lost 20% of its equity, which is a lot for a $10k account, especially that their website results clearly show a drawdown of no more than 16% for the past several years. At the 20% DD marker, I closed down the trades and changed the trader’s password, so that no more damage could be done by this sham company. They accused me of using a different EA on this account which is clearly bulls*** and I’d be happy to prove it when asked.
here are links

fxblue.com/users/xm-signum

this comes from company called censorino
http://www.censorino.com/en

New thread in the Scam Alerts Folder:

Review is submitted by justin canada on 12/15/15

The company was first contacted about the issue on 12/10/15 the last contact was on 12/15/15

Details: EA, I'm sure tomorrow will close positions and only you have a loss ( no loss, open positions)

Today signals a very good day, the earned a lot of pips - Trade Copier.

EA Today very bad day.

We will not offered to you EA, Trade Copier or other services. Trade Copier functions for 3 years and earn all the time and our customers.


I will not respond to other messages, to your e-mail marked as spam.

Company representatives' emails: Marcin Dabrowski<infoforexsignum@gmail.com>

 

Attachments

  • orders-xm-signum.csv
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AsstModerator

FPA Forums and Reviews Admin
Messages
5,629
Please go ahead and email the company one more time. Invite them back to your thread in Scam Alerts. Post an update here when you've done that.
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,629
Instead of emailing the invitation, I've posted it in your Scam Alerts thread. I phrased it in a way which I hope convinces him to address the issues instead of making baseless accusations against you.
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,629
Originally, this case was dismissed. The problem was that the company's representative behaved so badly, he got himself banned.

Another representative, or the same guy under a new name, got in touch with the FPA about having a warning removed from Forex Signum's review page. I explained that resolving the issue was the best way forward. 1Wildhorse's first offer of resolution was rejected. A second offer was made. I added to it so that Forex Signum would benefit. The representarive's reply was that he did no negotiate with cheaters.

From what I can tell, anyone who has a disagreement with ForexSignum is automatically considered to be a cheater by the owners of the company.

One note. The first representative account from ForexSignum denied that 1Wildhorse was using their services on the account. The new one admits it, but then did not provide a chart when I asked him for one.

Since the representative has access to the forums, and since he claims that 1WildHorse "cheated" by closing trades early, I invite him to post his evidence in this thread. I also invite 1Wildhorse to show a chart of where price went after he closed the trades.
 

1wildhorse

Private, 1st Class
Messages
434
Originally, this case was dismissed. The problem was that the company's representative behaved so badly, he got himself banned.

Another representative, or the same guy under a new name, got in touch with the FPA about having a warning removed from Forex Signum's review page. I explained that resolving the issue was the best way forward. 1Wildhorse's first offer of resolution was rejected. A second offer was made. I added to it so that Forex Signum would benefit. The representarive's reply was that he did no negotiate with cheaters.

From what I can tell, anyone who has a disagreement with ForexSignum is automatically considered to be a cheater by the owners of the company.

One note. The first representative account from ForexSignum denied that 1Wildhorse was using their services on the account. The new one admits it, but then did not provide a chart when I asked him for one.

Since the representative has access to the forums, and since he claims that 1WildHorse "cheated" by closing trades early, I invite him to post his evidence in this thread. I also invite 1Wildhorse to show a chart of where price went after he closed the trades.
yes of course i love to cheat by losing my own money.i take great pleasure in it.honestly....
anyway as requested,here is a chart showing the trade price taken(the red line).this can be confirmed by going to the fxblue page,where under closed trades it clearly shows a 1 lot trade taken on 15th december which resulted in a $1200 loss-by far the biggest loss on the account.if you look at the forward prices on this chart,i believe price reached 1.07 at one point,which would have presented over a $3000 drawdown ON THAT TRADE ALONE.again signum have made absolutely no attempt whatsoever to address this matter,and resorted to throwing insults from the very first day.anyway proof is there,and more is readily available if required.
 

Attachments

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1wildhorse

Private, 1st Class
Messages
434
also here is a screenshot of the fxblue page clearly showing the trades taken and the losses made when i chose to close it down at 20% drawdown level,which was far greater than the 14% advertised by the companies website.
 

Attachments

  • Screenshot (46).png
    Screenshot (46).png
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1wildhorse

Private, 1st Class
Messages
434
i have stressed a number of times that my initial account fxgrow,which i personally set the trade copier,made approx $2050,and all trade sizings were the same at 0.08.
my complaint is that when i was forced to change brokers by fxsignum withdrawing from fxgrow,and it cost me approx $1000 to transfer the monies from fxgrow to XM,that immediately the lotsizings changed,initially 0.3 and 0.5 lots and thereafter i noticed not only some kind of martingale strategy being used on my account,but also alarmingly large lotsizings for the size of that account.
the trading was so haphazard it caused me a sleepless night because i just didnt trust what was going on,and i made the decision to close out trades once the account had drawn down 20%($2000).far from attempting to reach a satisfacory agreement,various representatives from fxsignum(censorino) have responded with verbal abuse and have made absolutely no attempt whatsoever to actually resolve my issue despite offers being made to them that should ensure mutual satisfaction if they are indeed a reputable company.therefore i have only ONE possible conclusion.that their entire operation is a SCAM.
 

1wildhorse

Private, 1st Class
Messages
434
my other complaint would hinge around their terrible customer service.as proven by the constant verbal attacks i have endured over the past few months(look at the thread).thankfully i had taken enough abuse from them and hit back in kind finally after they called me a cheater after i proposed that i deposited $1k into an account that would be subject to honest and integral screening.that was the final straw for me.
 
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