Estimated reading time: 6 minutes
Shark Tips is a signal service provider that claims to make professional trading accessible to the average Joe. This service currently has a 14 day free trial period for those who are able to download their android app. That’s a good thing because it allows traders to test the service before committing with real money.
Shark Tips is located in the UK since their address is stated as Ori Kaskas. Located at Tech City UK 68-80 Hanbury St, London E1 5JL.
The developer is known as Ori Kaskas, and the product or company name is Shark Tips. What you should know is that Ori Kaskas is an affiliate marketer with no trading history or reputation outside this particular signal product which they are selling.
We did some extended research and were surprised that this developer also runs a gaming website known as PVPchallenge. What does gaming has to do with Forex trading? You wonder. But the answer is quite obvious. This developer is a jerk of all trades. They make money on the internet here and there, which raises the question of whether or not they are committed to delivering profitable Forex signals.
According to the website of Shark Tips, this service was created sometime in 2015 by a team of people who call themselves ”ragtag team of analysts”.
They also claim that their team is composed of tech geeks, traders and analysts who have been experimented with dozens of signal providers before.
This is apparently the reason why they founded Shark Tips. They wanted to provide a far better service than what is currently available on the internet.
They now claim that if you subscribe to their signal service, you will receive 350 winning pips every month. In addition to this, they claim that they won’t charge fees or commissions and that they don’t intend to waste your time.
Now, the sales page of the Shark Tips website does not have any in-depth information concerning the service. In addition to this, the trade logic or method of generating signals is not discussed too.
This website also assures us that they only send signals that they trade themselves because Shark Tips is made up of a community of thriving traders.
The problem is that this promise is not re-assuring enough. Why is this so? Because the only person tied to this service does not seem to be a real Forex trader. How can they claim (without evidence) that they are experts in this field and that they will only send out signals that they trade at the same time as you?
And if they want to use their reputation as a selling platform, they should introduce the so-called tech geeks and traders. This would give us an easy time of verifying their trading background and experience. It makes work easier, plus it builds confidence. Leaving us in the dark does not help. In fact, it makes matters worse because traders will never trust what they say. That’s just how it is.
As you can see, the cheapest plan costs $59 per month. The most expensive plan costs $350 per year. And of course the quarterly plan will cost you $140.
There is no information as to what strategy Shark Tips uses when generating the signals. We don’t know the time frame or even the pairs traded.
The sales page is simply lacking in this information. We wonder how on earth Ori Kaskas expects to acquire clients if this information is kept secret.
So far, we only know that this service has 3 plans or 3 ways to pay for their so-called winning signals.
It is indicated in the Shark Tips website that this service provides between 20-35 signals per month. This has been going on for the last 2 years (as at the time of writing this review).
Now, the problem is that despite claiming that these signals were delivered, there is no transaction recorded on this site.
If indeed they have been running a successful signal service, we don’t see why there should be an excuse for not providing this data on the website so that other clients can see and make an informed decision of whether or not to join them.
It’s already difficult to trust companies or websites working in this niche. Most of them claim to deliver hundreds of pips every month. But when it comes to producing proof, they simply shy away. This is because most of them don’t even have broker statements originating from the accounts where these signals are traded at.
It also helps to connect an account with myfxbook platform so that these results can be tracked in real time. Most of these providers don’t do so because they know that their services are not reliable.
We cannot advice anyone to use such a signal provider because the risks are too big to ignore. It is just too difficult to trust people in the financial niche if they are not able to produce proof that what they say is what they deliver.
Rest assured that past clients have complained about this service, and many more are still talking about it. If there is no proof that Shark Tips works, then it means that they are hiding something.
Apparently, their monkey business was exposed when several clients complained of foul play. Customer feedback is quite negative.
We scouted for these reviews and testimonials on FPA. Most customers were rating it with a 1 or 2 stars.
A typical complaint against this service indicated that Shark Tips delivers signals late and when it loses, they claim that their copy of that particular signal won. When asked how, they claim that they use a broker that provides friendly spreads.
Shark Tips has also been accused of having a poor risk to reward ratio in their signals. The provider always denies these claims when confronted with facts.
It is not surprising that these negative testimonials are finding their way to major trading forums on the internet, considering that this signal provider does not give any information about their trading activities. It’s one sign that they are operating a fishy business.
Their aim is to take your money and deliver mediocre services. When asked why their signals are always losing, they give excuses to defend themselves or probably make themselves blameless. This kind of blame-shifting is not professional. One has to agree that their business is not legitimate. And at this point, they should leave the industry and pave way for others who are genuine.
It gets complicated when a signal provider refuses to show proof of their work for the past number of years which they claim to have delivered a service.
This is the reason why we cannot recommend Shark Tips to anyone who reads this blog.
We do all reviews while maintaining an open mind. We are always liberal in our approach. However, after analyzing this service properly, we don’t see any benefit of signing up because it does not solve our problems in the Forex market.
The same thing can be said about their 14-day trial period. We do not see the need to waste your time, trying these signals to see whether or not they are good. Just stick to these Forex products as usual.
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