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TrueFxSignals.com Review

Updated: Jun 16, 2015
SCAM
3.474 · 10 REVIEWS
Is this your company?

October 2008-April 2009: A number of fake positive reviews have been submitted for this site. The FPA advises an extremely high level of caution dealing with this company.

SCAM CONFIRMATION 2009-05-21: The FPA has confirmed a scam complaint against this company. TrueFxSignals is now blacklisted by the Forex Peace Army. We recommend against doing business with this company.    We saw a number of good reviews from reviewers that we know and trust.  We are sad that a company that seemed capable of providing good signals decided to engage in such unethical practices.

Website is down.  One less scam company on the web.

TrueFxSignals.com

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Court cases

  • Open0
  • Resolved0
  • Not guilty0
  • Guilty1
Case IDFiledCase nameVerdict
20092009-05-21FPA Scam Confirmation against TrueFxSignals.comguilty

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Scam!
3.474 · 10 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Antony,
South Africa,
Mar 24, 2010,
Guest

I subscribed to their full signal service for the month of February. I took EVERY signal, exactly according their instructions. My results for the month was 950 pips loss, which was made up of a steady progression of far more losing than winning trades.

TrueFX report a profit of over 1000 pips for the month. On the morning of the last day of the month (26th Feb), they had already posted their monthly results EVEN WHILE THERE WERE STILL LIVE TRADES OPEN.
SO, IT IS OBVIOUS THAT THE RESULTS ARE A COMPLETE SCAM, AS THEY MAKE THEM UP BEFORE THE END OF THE MONTH.
I have tried to query this with them numerous times, but they had the cheek to come back to me and say that it is probably due to me using a different broker, with slightly different prices.
That is absolute BS, as it is impossible that using a different broker would result is a 200% difference. Maybe a 10% difference, not 200%.

STAY AWAY - THIS IS DEFINATELY A SCAM
schl,
bolivia,
May 26, 2009,
Guest

FPA, what a shame your rating for this provider!!! I am trading the truefx-signals and I only can say that this provider ist the best I have ever used. Highly profitable, the results are honest, 100 % set- and forget. It seems that a lot of fake votes against a good program were made from dishonest people. Do not believe them and test this service. The most stable one during several months.

Review Moderation Team Note: As far as we can tell, all the currently posted reviews are made by real people. Well over 1 dozen fake positive reviews were deleted.

The Scam rating that this company earned has nothing to do with how good or bad their signals are. It has to do with the fact that this service posted an obvious lie about their relationship with the NFA on their website and repeated that lie in email. The FPA cannot recommend doing business with a company that has such severe ethical lapses.
oriana,
ar,
May 18, 2009,
Guest

Issue escalated to Traders Court FPA Scam Confirmation against TrueFxSignals.com | GUILTY
This is SCAM
1) They claim on their website they are NFA registered and monitored.
This "company" was NEVER NFA registered.
2) If they make a lot of pips monthy why the web site was designed trhu the cheapest and lowest quality designer (Website Tonight - goDaddy $ 4)?

I can not trust in a person who simply lies.

2009-05-21 Scam Investigations Committee Update: The FPA has confirmed this scam complaint.

More. Community discussion of this issue >>

Magoo,
USA,
May 9, 2009,
Guest

I subscribed to this service for a month and on the surface seemed like a good system...then for almost 2 consecutive weeks there was nothing but losses. I implemented all of the signals meticulously just to make sure I was on par. Well, when the results were posted I was stunned. At this time my account is in the hole over -500 pips yet this guy posts that they are + 1528 pips. I am very disappointed as I thought I had found an honest system and service - unfortunately NOT the case. The bottom line is that THE RESULTS POSTED ON THIS WEBSITE ARE HIGHLY INACCURATE AND FALSE.
Alvi,
Boston,
Feb 11, 2009,
Guest

I received the signals from Truefxsignals. I had the membership for a month following the majors Maybe january was a bad month, and overall I lost a lot of pips.

Jana,
Czech,
Jan 22, 2009,
Guest

I have a subscriber to True Fxsignals two months. The system is very good. Allan responds to the question always. Little works with your computer, orders are entered once a day. The best signals.
JB,
United States,
Jan 3, 2009,
Guest

I have been a subscriber to True FX Signals for two months. I would describe it as a set and forget intraday breakout system. It's so simple to follow that even a monkey could do it. So far, the system has been profitable to the tune of several hundred pips (I did not trade the crosses with the system). I have had some small difference in the pips I have earned vs what they reported, but nothing major. It's probably due to slightly different exit times on the trades. Overall, I would say they are honest in their performance reporting.

As with all breakout systems, it can have a series of losses (50-60 pip stop loss is used per trade) before it catches a big move, so you need to be comfortable trading such a system. Those losses will start to add up if you have several in a row, so you must keep your leverage sensible. You also must be sure to enter the pending orders/signals EVERY NIGHT, without exception, because you don't know which day you will catch the big breakout. This consistency is required of all breakout systems. I would recommend using a fixed spread broker for this system so you don't get stopped out on a widened pre-news spread.

The signals are reasonably priced (packages start at $99/month for signals on majors) and it works great for me because my full time job demands about 60-70 hours per week of my time. There are probably services that generate more pips with less risk if you are willing and able to sit and watch your trades all day. But I am giving it 4 stars because it requires virtually no effort to follow, it makes money and it seems to be an honest service.
Alvi,
Boston,
Dec 23, 2008,
Guest

Hello traders,

I want to inform you the possibility of a HUGE SCAM in this TRUE FX SIGNAL service. !!!

It is passed 2 days from my payment fro the combo service, but I'm still waiting a reply from them.

Be aware...... Do not subscribe to this service till I will give you some updates !!!!

Review Moderation Team Note: We removed the rating from this review. Many smaller services are closed for the holidays. We encourage Alvi to leave a followup with a rating sometime during the first week or two of January.
petersurrey,
UK,
Nov 1, 2008,
Guest

A solid few months from this provider with staggering returns, although it will always be susceptible to large drawdowns due the large stops and sell/buy pending order entries. They have managed to tweak their system to produce very high returns in extremely volatile market conditions -it will be interesting to see how it adapts to less turbulent conditions -but for the recent performance a solid 5 stars.
miroslav uhercik,
slovakia,
Oct 12, 2008,
Guest

very good service ,,easy to trading .with good real results n reasonable price ,i recommend for everybody