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My Trading Signals Review Update: The signals provided were far from accurate leading to heavy losses.
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My Trading Signals is a Forex signal service which is based in Utah or at least they are listing an Utah-based address and telling us that their offices are based in this location. The address in question is listed as 383 W Lakeview Road Lindon Utah 84042. We cannot establish whether or not this is a visiting address yet. The team behind My Trading Signals tell us that they have been trading for 20 years now. Their team of research are always analyzing the markets place to find signals that traders can easily execute to make money. They also claim that executing a trade is quite simple under their guidance because the kind of instructions they send to their customers is easy to follow.
There is a pitch video on the homepage of My Trading Signals. This video is presented by someone called Steve Perry.We are not so sure if Steve Perry is the real name of this signal vendor. Upon researching on Google for more information pertaining to Steve Perry, we found the same name in use on another highly controversial site called Apiary fund.
They have a Steve Perry on this website too. However, the picture that Apiary fund is showing us is quite different from what we are seeing on the sales video at My Trading Signals. Apiary Fund features this Steve Perry as an investor. There is no reference or suggestion that Mr. Steve is somehow related to Apiary Fund.
This could either mean that Apiary fund is using a stock photo or My Trading Signals is misleading us with the sales video for purposes of hiding the identities of the people behind this operation. All in all, we will still conduct an analysis of the signals service and let you know what we think concerning the signals service.
However, if you want to to trade Forex right away, our best advice is that you should get started with these Forex trading resources.
Having said that, let’s dive into the real issue right away. It is about My Trading Signals.
The first thing to catch our attention is the figures which are published on the site. These figures suggest that the site has so far netted 174 pips this week and 238 pips this month. In the last 90 days, My Trading Signals allegedly won over 700 pips. These figures do not change, and we can guarantee you that after 1 week, the figures will still be there and unchanged.
The other issue which we are facing with this kind of presentation is that it is simply impossible to verify these numbers. There is no third party verification, plus such numbers when presented in this manner can easily be manipulated by the site admin. We need these results on a verified myfxbook account and not on the My Trading Signals website. That’s the most ethical way of presenting trading results to the people you are targeting.
There are 3 signal plans in total which promise clients unlimited number of signals. The 3 plans cost $27, $47 and $67 per month respectively. Each of these plans will guarantee 2-3 signals per week. However, the first two signal plans don’t offer real time updates and alerts. For clients who are paying more, live webinar and education materials are also provided to justify the $67 per month price. In addition to that, this plan offers weekly review of signals and analysis as well. It seems to offer more than your average signals service.
The site tells us that trading has never been easy. They also claim that they will send us all the details needed to set up a trade before it happens. In addition to this, My Trading Signals is guaranteeing that they will only broadcast quality signals to give you high chances of success. However, they are not telling us their trading methodology. So we do not know what style of trading they are employing in order to find signals that can be broadcast from their platform. Somehow, we feel that this is not convincing at all. The explanation is too vague, and any serious trader who is looking for a professional signals service will always exercise caution when they come across a sales page that offers too vague information.
In the sales video, he claims to be a professional trader. There is a tab on the nav menu labeled ”Steve’s corner”. When we clicked this tab, we were hoping to find some info about the operator of this site. Unfortunately, this tab led us to a sign up form prompting us to sign up with our email address. Apparently, this is just a mechanism for collecting emails for purposes of sending newsletters. Nothing more.
Therefore, we still don’t have a clear picture of who Steve is. He claims to be working with a team who has 20 years of experience. However, we are only treating these proclamations as unverified claims.
We love to read the fine print before making use of any service. The fine print can hide certain conditions that can be unfavorable to you. Unfortunately, this site has made the fine prints at the footer of the site quite ineligible. Users can’t read the risk disclaimer. Even their address is ineligible, making it difficult for us to even figure out what location they are based at. We only zoomed the page for us to figure out that they are claiming to be based out of Utah.
My Trading Signals does not verify their trading results, and so it is quite difficult for us to affirm any of the numbers appearing on the sales page. They would have done a good job if they published their third party verified trading statements or utilized a statement sharing service like myfxbook.com. So far, this has not happened. So the site has zero trading performance. If you want to have a good start in Forex trading, we would advice that you make use of these highly recommended trading tools.
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