Estimated reading time: 6 minutes
Buy Forex Signals or Buyforexsignals is a website that claims to sell Forex signals that have an accuracy percentage of between 80-90%. These signals are delivered through email or text message.
Buy Forex Signals is owned by a man called Mauro Sciaccaluga. This guy also owns other two websites called Gainprice.com and Forexsignalsprovider.com.These sites have been accused for scamming investors, so we do not see why Buyforexsignals.com should have a clean record either.
Mauro Sciaccaluga seems to have serious issues with his clients. Buy Forex Signals has been exposed several times on industry forums. However, it appears that traders are not borrowing a leaf from those who have fallen into this trap.
Also, due to the rising number of negative testimonials which past users write against this site, we don’t have confidence that this site is really into helping traders make money.
In fact, Buy Forex Signals seems to be running a skewed business model whose mission is to make money for the owner and not the trader. This makes it a dangerous venture for anyone who is looking for a highly reputable and profitable signal service to use.
Just in case you’re looking for a reliable trading system that can quickly put you on the fast-track to Forex success, these products will suit you best.
If you prefer reading this review first, you’re free to do so.
Please note: Mauro Sciaccaluga is also the owner of Stealth 4 expert advisor which he calls a ‘winning and very successful system’. Unfortunately, these claims can never be backed by substantial evidence. So let’s not even go there because we have nothing to discuss here.
The website only analyzes signals for these three currency pairs: EURUSD, GBPUSD, and USDCHF. That is not a big problem as most traders can make profits even if they rely on a single currency pair. Making profits depend on the strategy being used, not the number of trading instruments being pursued.
With that said, the site claims that it is so profitable that it has never lost a trade since 2003. That claim is a little bit suspicious because this is trading, and occasional losses are part of the game.
The site entices prospective clients with promises that they will get 1,600 pips per month with the so-called winning signals from Buy Forex Signals.
The signals are alleged to have worked well for years, plus a 30-day money back guarantee is in place, just in case you doubt that this is a risky move.
To top it off, Buy Forex Signals claims to have offices in New York and London. It is difficult to verify these claims because even with Google map, we could not get the slightest clue of the exact office where Buy Forex Signals was operating from in the stated physical address.
To add more credibility to the site, Buy Forex Signals implemented various media house logos. One would think that this service was, at some point, endorsed by big media giants like CNN, CNBC, CBS News and many others.
We’d like to remind you that this is a credibility showpiece. It’s meant to manipulate the customer or even play with their psychology because it’s a known fact that people tend to trust businesses that are affiliated with reputable brands, unlike those that are not.
Therefore, displaying a CNN logo on a website does not necessary mean that the site was endorsed.
A money back guarantee is not iron-clad protection against losing money. If anything, some Forex product vendors don’t honor this policy… Buy Forex Signals included.
According to their terms and conditions, one must use this service for 21 days and if not satisfied, they should provide proof of trades before having their money back.
However, it turns out that Buy Forex Signals is never interested in refunding anyone. Once goods are bought, no return!
Buy Forex Signals is known for frustrating their customers. Not only do they refuse with your money, but they also take you round and round with silly excuses.
For example, one customer (who asked us to expose this service) said that he sent several emails to Mauro Sciaccaluga and instead of getting a refund, he was engaged in a game of lame excuses. He was asked to provide proof that the signals he was trading were delivered by this provider.
At this point, one would think that Buy Forex Signals uses paper documents (which could easily disappear without trace) when registering their customers. Why were they asking this particular user to confirm that indeed he was trading their signals? Don’t they have the records?
Anyway, this customer lost 158 pips in less than a week. Similar horror stories involving this service have been told all across the internet.
Now that customers have proved that BuyForexSignals is a dubious Forex signal provider, it would be dumb to believe the trade history posted on this website.
Indeed this trade history or track record is ‘excellent’. It shows that Mauro Sciaccaluga and his team of ”professional traders” really understand the game. So why can’t users simulate those results? One wonders.
But before we can go too far, we should point out the fact that these results have been manipulated and doctored to reflect the opposite of the real thing.
Otherwise, there is no other explanation to justify why customers were losing despite this site posting or indicating that all their signals were profitable.
These traders also confessed that they followed instructions as given by this signal service. Why did they lose money in the end?
This trend points to the fact that Mauro Sciaccaluga and his team of stubborn crooks are playing the Russian Roulette. They wake up in the morning, boot their computers and start sending signals randomly. It’s the reason why all customers have never been successful with this trading service.
After going through this service and listening to what traders have been saying about it, we’ve resolved to black-list it by making it clear that this is a scam.
Mauro Sciaccaluga and his team at Buy Forex Signals have never bothered to address their customers complaints, yet they claim to be a professional service.
Secondly, they were unable to prove their track record for the ”25 years of existence in this industry”. It is not enough to say that ”We made a lot of money in 2003 by trading Forex, and thought it would be wise to help traders make money too.”
That kind of statement is only used by fly-by-night operators who have no track record of success. We can assure you that Buy Forex Signals and any other affiliated entity (like the ones mentioned above) is operating this business with the aim of fleecing investors of their hard earned money. Avoid.
We’ve been researching, testing and collecting evidence from different Forex product vendors. Until now, we have been able to come up with a list of Forex products which can be accessed here. These are the only known reliable Forex products on the internet. We are still in the process of growing that list. So rest assured that we will bring you more options in the future.
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