Estimated reading time: 6 minutes
This review will be looking at an anonymous Forex and Crypto signal provider known as Elite Signal. Although a brief research into the history of Elitesignal.com reveals that the domain was registered in 2012, there has never been any user feedback specifically focusing on the services offered by this company.
It is rather strange that despite this website going online nearly 5 years ago, no one has ever reviewed or commented on the quality of their signals before.
Is it something to do with promotion? Or is it that Elite Signal is just another outright scam with so many obvious red flags such that it naturally repels opportunity seekers? We will find out in this review.
This website is managed by an anonymous group of people who want traders to believe that a solution to their problems can be found on this website.
It appears that Elite Signal is operating out of Denver, City of Colorado since the company is registered with that address in their location details. But the names of the people behind it have never been revealed.
Now, you should have a reason to exercise caution when dealing with such a signal provider. The owner has never seen the need to disclose their identity, yet they want traders to part with real money in the name of subscribing to their signals.
In our opinion, this is unethical. But most importantly, this discreetness shows that this signal provider is hiding something. Unless we get to the bottom of this, this website will always remain covered under the cloud of mystery.
The main line of service that Elite Signal deals in is crypto trade signals. But when you visit their pricing and plans page, you will see that Forex signals have been listed as a service that is provided by this website.
The website claims that this company is managed by professional analysts and traders who have 40 years of combined experience in the industry, and that these professionals will monitor the markets on the behalf of the customer.
We don’t know about you. But we find it extremely difficult to believe these claims. This is motivated by the fact that we are already dealing with an anonymous signal provider who thinks that it is completely fine to sell signals without following the standard procedures of the industry.
We would never buy signals from strangers. That’s the fact. There is nothing that can change this. At the end of the day, it’s your money, and you are entitled to conduct due diligence when vetting potential signal providers. If you cannot vet them based on their identities and trade history, then you’d be better off skipping that service for the next available one.
Nothing is outrageous about the plans offered by Elite Signal website. There are 3 plans under which traders can register to start using this service.
The first plan costs $99 per month. The second plan costs $199 per month. The third plan costs $349 per month. When traders subscribe to any of the 3 plans, they will receive signals for pairs such as EURUSD, USDCHF, USDJPY, USDCAD,GBPUSD and EURJPY.
Besides, Elite Signal promises Binary options signals, online support, a detailed signal analysis and trading education.
However, for traders to ‘enjoy’ one on one webinar and live trading sessions, they must subscribe to the ultimate plan. Is $349 per month affordable? Well, the issue of cost is subjective. Some traders may say that this is fair while others will say that this is exorbitant.
But if you’re like us here, you will definitely conclude that this is a rip off. Paying $349 every month to receive Forex and binary options signals isn’t pocket-friendly in any shape or form.
We do not have any reason as to why traders should part with this much when Forex signal providers are offering the same alleged service for way less than $349 per month. If it makes sense,find a good signal service in this list and subscribe. We’ve vetted those companies and found that they are credible and transparent.
At this point in time, you might want to seek our opinion on this company’s cheapest plan. Although $99/month is the going rate for most signal providers out there, we still don’t think that there is any justification for testing out a signal service for that much. Besides, we have raised critical issues with this company, and we believe that if these issues are not addressed, then chances are that you will waste your money.
Note: Elite Signal is offering free signals as long as you’re willing to sign up with their recommended brokers.
This is largely an issue of personal preference. Do you want to stick to your current Forex broker? If yes, then you might not find this offer any convenient. But what if you decide to trade with their brokers anyway?
Well, the biggest challenge sets in when those Forex brokers you’re being forced to open an account with are well-known scammers. They might not necessary be scammers. But if they have a poor reputation, your efforts to make money would be frustrated. You would not get value for your investments regardless of whether you’re using good or poor quality signals.
A section of the Elite Signal website has ‘trade history’ for us to analyze.
We find it quite interesting because we only have 3 trades to analyze here. These trades were for binary options and not Forex.
After seeing these ‘trading results’, we thought to ourselves that Elite Signal was the biggest joke on the internet. First, there is no way to legitimize these results. And secondly, a sample of 3 trades cannot be used to judge future performance. It is just not possible to work with such a small data sample.
And last but not least, Elite Signal does not have a myfxbook account where they can demonstrate their trading operations from. This did not catch us by surprise considering that this website is very non-communicative. We would never be surprised that those who manage this website are not professional traders but marketers who are only looking to capitalize on the ignorance of many traders.
We would have preferred a verified myfxbook account as opposed to a screenshot of trading results which obviously lack authenticity.
But as you can see on the website, asking for a myfxbook account would be like making an unrealistic demand. Again, let’s remind you of the fact that witty investors never pay for illegitimate services whose owners are hiding behind a computer and hoping to extort traders in the process.
Unfortunately, Elite Signal is a funny website, an extremely discreet business that doesn’t deserve any positive review. By the way, it’s the reason why this business has never received any feedback from their supposed customers. We are not sure why this is happening.
Usually, when a rogue business resurfaces on the internet, it sucks wallets dry and in the process, it leaves people broke and complaining about their predicaments on the internet. But in the case of Elite Signal, there is deafening silence.This is a big big red flag. We will not be recommending this signal service.
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