OmniForexSignals.com Review

Unfortunately I already signed up after I saw a review from a website called "2016 best forex signal service".( http://fxforex-trading.com/) This website reviewer is a scam. I tried 3 of their 5 recommendations so far and I have not been happy,



Bottom line, I signed for their $4.99 trial. Did a quick backtest of their previous day's recommendations. Looks legit with a 70% win /loss ratio. So i decided to trade some of their 14 recommendation the next day using their daily recommendations. Randomly picked 3 of them. I noticed right away that the 3 forex pairs I picked were all going against the trend. Looks like that their trading algorithm is based on a trend reversal. Against my better judgement, I traded all 3. Big mistake. Two were outright losers (within a couple of hours ). The last one just did not move at all and traded on a range. Based on their website, an open trade at end of the day needs to be closed( according to their manual.) So, I did close it with a small lost. All in all a bad day...

This website makes outrageous claims on their website. Even posted a supposedly p/L of a trader who traded for 15 days one instrument they recommended. I took a picture of the P/L and enlarged it. Clearly a fake. Too many contradicting entries. Prices were all over the place for the same instrument with only a few days apart.

I was so pissed off at being taken by the scam I cancelled my trial subscription with two days remaining. These guys do not have a good system at all. Might as well flip a coin.

Totally Bullsh***t
Whenever you want to calculate signal when trend is up they tell you to buy and in down trend the y ask you to sell. That simple and they make $100 per month out of this....

I cancelled my suscription before the 60 days free trial because it didn´t work well for me, and i was promised to get full refund but i received nothing and Omniforex support no more reply to my e-mails. SPAM

This is a chat i had with Omni

Please wait for a site operator to respond. Meanwhile, please click here to become a member.

You are now chatting with 'Harris Peter'

Harris Peter: Hi there! Thanks for visiting OmniForex Signals. Are you currently an existing member or considering becoming a member?

you: I am not a member yet

tom: are u there >

Harris Peter: Okay.

Harris Peter: Yes, I am

tom: Thank you , what is your stop on your signals

tom: in pips ,

tom: ?

Harris Peter: You will going to set the Stop Loss and Take profit by your own.

tom: So its up to me to deciede to put a stop and tp ?

Harris Peter: Yes.

tom: So what is the point of paying you ?

Harris Peter: We will show you exactly which foreign currency pairs to trade, the way you should trade them in a given moment then when you should stop that trade. Therefore, you won't need to think anymore - all you've got to do would be to simply click the "BUY" or "SELL" button inside the trading platform. For anyone who is brand new to Forex market, we will tell precisely what to do - Inside the Members Area you'll find a step-by-step Manual explaining you how to earn money using each of our signals. All you must have is Internet access at least once a week. Several minutes will do.

tom: You have only one star for a review on forex Peace Army , Now I know why

Harris Peter: We will show you the signals at the time you would like to have.

Harris Peter: All you have to use those signals that will always be updated. As per the trading is concerned, you need to sign up with the broker who will provide you the platform to do so.

tom: Thank you but i have a broker I am looking for a signal service that will call the shots, not just directional trading that is like fliping a coin

Harris Peter: We have no exact performance reports. That's because our system can be used 24 hours per day in all time zones with 18 currency pairs - it's not possible to show all possible results. Only 1 day of trading has over 50,000 possible transactions (number of time zones x 24 hours x 3 strategies x 18 currency pairs) and the real performance can be shown on at least one year period. It's just impossible to show such reports for all possible variants.

Harris Peter: That's why we give averages.

Harris Peter: An average win/loss ratio is 70:30 for each strategy (70% winning, 30% losing).

tom: you have 50-50 chance i can have those odds

tom: If you know your win % HOW MENY PIPS IN A MONTH ?

tom: I bet you cant answer that

Harris Peter: You can go for the Trial Membership and I assure you that you will easily earn enough through our system.

tom: If you know your win % HOW MENY PIPS IN A MONTH ?

Harris Peter: It depends upon the market. We can suggest the aproximate value for that.

Harris Peter: approximate **

tom: No Value for a pip only a pip

Harris Peter: Unfortunately, we do not have the approximate pips available as this all depends upon the market.

tom: You can say a pip is 0.01 or 1,000,000. So its not its value only the amount of pips ?

tom: I think this is another forex SCAM

Harris Peter: Unfortunately, we do not have that prior information

Harris Peter: It's just impossible to show such reports for all possible variants.

Harris Peter: That's why we give averages.

Harris Peter: An average win/loss ratio is 70:30 for each strategy (70% winning, 30% losing).

tom: Every signal service knows how meany pips the make how can you know the win % and not your pip count

tom: I am going to post this chat on every blog and forex review site i go to good day to you and your SCAM

Omniforex is just "Forex automoney" under a different name. Look for "forex automoney" reviews on this peace army site and you will see they are just scammers.
I would suggest you don't touch these guys, they offer the same cheap $4.99 trial as forex automoney and offer the newbie the same game to play on their website which is supposed to show you how easy it is to make money following their buy and sell signals.
It's a load of c***. Take their trial if you want and find out for yourself (on demo) or just go to "Forex automoney" reviews and see what other traders think.

This is a typical example of cheating people who are not an expert in Forex.
What I will do, simple copy here the correspondence between me and the company:

Dear Customer,

Thank you for contacting us.

We have no exact performance reports. That's because our system can be used 24 hours per day in all time zones with 18 currency pairs - it's not possible to show all possible results. Only 1 day of trading has over 50,000 possible transactions (number of time zones x 24 hours x 3 strategies x 18 currency pairs) and the real performance can be shown on at least one year period. It's just impossible to show such reports for all possible variants.

That's why we give averages.

An average win/loss ratio is 70:30 for each strategy (70% winning, 30% losing).

My answer:

Hi,

I have done a weekly test with your signals on demo. Note that the same broker is used by me for years without any problem.
I have performed day trades on 6 pairs, 2 times per day to see if there is any correlation with time.
Plus i have performed intraday trades for a week on the same six pairs(they are majors).

Below is the result:
Day trades: 14 winner, 46 loosers
Inraday: 29 winner, 91 loosers

It would be difficult to continue the test since deposit is almost gone.

I made the trades EXACTLY how you say. Immediate trade after signal, and exact calculation of SL and TP.
M conclusion is that your winning ratio mentioned below in your letter and on your site is very far from the reality.

The above quantity of trades are significant to state that just the opposite ratio is realistic, 25 % winners and 75 loosers. This with your risk-reward will anyway result complete loss of deposits of your customer.
I interrupted the service prescription and kindly ask you to refund my money.

This way we can avoid further complications.
Thank you.
Br,
And finally their answer:


Thank you for contacting us.

There are no guarantees that you will earn any money using the signals or any of the other materials contained in the Members Area. The amount a trader earns is dependent upon the individual.

And finally one sentence from their disclaimer:

OmniForex does not warrant the accuracy, correctness, or completeness of information available on the web site

This for me means, be careful i will cheat you.
So even warning someone about possible cheating, that still remains unethical....

Br
Zoltán