The last thing you should be concerned about is the subscription options. It is obvious and reasonable to pay for net profits. Why pay for services which do not make you money even if the provider publishes good results on their website? Guaranteed profits or pay for net profits options are very popular among forex traders and forex signals provider customers. You just pay for net results on your broker account. If you have two similar providers, but one offers pay for a net profits options and the other one does not – consider subscribing to the one that provides it, even if you are going to subscribe to a monthly subscription. A variety of subscription options gives a provider more credibility. If the provider has a pay for results option, it means that this provider is confident in the services they provide to their customers.
Remember!Choose a forex signals provider with guaranteed profits and a pay for net profit subscription option even if you are subscribing to a limited period of use.
If you can't find any information about the company and the services you are going to use, it does not mean anything at all. There are thousands of great companies, you have never heard of. Unfortunately, nowadays you can't trust anyone but yourself or your close friends and relatives. Most forums, review websites and ratings do not reflect the obvious picture of anything (too many competitors and not so honest customers, etc.) However, if you can't find a single piece of positive feedback, it may be not a good sign.
Remember! You are the only person you can trust; do not allow competitors to blacken someone's reputation. Try the services yourself on a demo account first. However, if you can't find a single positive message about a company – this is not a good sign.
Be aware of!
The final part of this article is devoted to unwanted features of a forex signals provider. If you find any of the following features, try finding another provider. Each feature is accompanied by reasons and possible consequences.
a.Promises of huge profits every month
If you have found a provider which promises a higher monthly income than an average provider does (approximately 20%-30% a month), it's more likely you have found a cheating provider. Though there could be months with profits above 100%; it's absolutely impossible to have every month's profits above this figure. Just do not waste your time and money – it is a scam.
b.No loss trading guarantees
Not a single trader in the world can trade without losses from time to time, like it's impossible not to have a drop of a rain for the whole summer. Any professional provider which is offering reliable and honest forex signals will show both profit and loss trades. No loss results seem more like a fake rather than being a trader's paradise.
c.Forex brokers' recommendations
There are basically two ways of making profits from providing forex signals: subscription fees and brokers' rebates (commissions paid by brokers). The first option is obvious and normal. However, the second option is very dangerous for forex signals users. If your forex signals broker is looking for broker's commissions only, it means you will be making dozens of trades just for trading. The results of your trading do not correlate with the profits a provider receives. It does not matter for a provider, how profitable your trading is. The only thing which matters to the provider of forex signals in this situation is the number of trades made. You have to be driven by the following rule while choosing the right provider – you came to forex to make profits not to trade. If you see messages like these: "open an account with broker X and get our signals for free" or "deposit $100 to broker X, and you will get $100 for our services" – you may be sure that this signals provider is either affiliated with the mentioned broker or is even owned by it. The main purpose of this provider is to attract clients to that broker.
©Michael D. Winter 2012. ©Signalator® 2012.