1wildhorse
Private, 1st Class
- Messages
- 434
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 bull**** and I’d be happy to prove it when asked.
here are links
http://www.fxblue.com/users/xm-signum
this comes from company called censorino
http://www.censorino.com/en
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 bull**** and I’d be happy to prove it when asked.
here are links
http://www.fxblue.com/users/xm-signum
this comes from company called censorino
http://www.censorino.com/en