Silly signals, shocking business practices and rubbish customer support are all accusations that were brought against a Forex signal provider called FX Premiere at FXpremiere.com.
At this point, I wonder whether FX Premiere is even concerned with addressing these accusations.
As a matter of fact, these accusations don’t even give them sleepless nights since they operate under the shadow of impunity.
This explains why they have since been branded as a scam signal service. Nothing can be far from the truth.
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Do you think those Forex signal services are any different from FXPremiere. You can hardly spot the difference. They all do one thing: Promote, Promote and Promote.
FX Premiere: Overview of services offered and why victims are crying foul
Before you can use signals from FX Premiere website to trade Forex or Bitcoin pairs, you will be required to accept their risk disclaimer as well as terms of service (ToS).
It suggests that the people who manage this site have been receiving abnormal number of complaints from their users, and they are only taking precautions by trying to shift blames or safeguard their unethical business practices which involve fleecing traders £37/month or £379 for 11 months.
They’ve since updated their services to accommodate Crypto currency trading signals as well. These include Bitcoin, Ethereum, Ripple, Dash and Litecoin.
And by the way, subscribing to the trial package will cost you $37 per month.
FX Premiere terms and conditions state that you have to give them a notice of one month in order to cancel your subscription for the trial package.
If you happen to remain subscribed days past your start date, your notice will be carried over to the next month, meaning that your notice will take another whole month for it to be honored.
By the time this comes to an end, you will have done 3 payments for their rubbish hypothetical signals. They deduct the amount from your balance every month as they deploy delaying tactics in order to keep profiting from you.
How do I know this?
Well, I have received a number of complaints from agitated users who claimed that their trial package was just a trap meant to force subscribers to stick a little while longer with their losing signals.
Forex signals from FX Premiere are not worth the price which you’re paying
Remember that the site states very clearly that it only delivers hypothetical signals which are meant for educational purposes only.
But how can someone train you via signals alone? Does it make sense to deliver signals without stating the underlying fundamentals as to why certain action is being taken?
To me, this is nonsensical. In fact, it results in breach of contract because while they claim their signals are meant for educational purposes, the information which users get is clearly oriented for promotional purposes.
And if you raise this issue with FX Premiere signal service, you risk being reminded of the fact that you accepted their disclaimer statement, hence you only have the option of counting your losses and abandoning ship.
About FX Premiere: do they have a track record?
FXpremiere.com claims that it has been actively producing signals for Forex traders in the last 12 years.
I take those claims with a pinch of salt since FXpremiere is currently not the most popular and profitable signal service.
The second thing I’d like to know is whether these signals are generated by professional traders or people who are simply good at internet marketing.
Although FX Premiere states that real signal analysts are involved in their operations, nothing in form of proof shows that the signals they’ve been generating have been profiting users.
It’s so sad that people make big claims which they can’t substantiate.
Secondly, I don’t know much about FX Premiere signal service since their ”about us” page lacks in-depth information about them.
Instead, the site uses this space as an opportunity to market its signal service, leaving their audience in the dark as to who owns FXpremiere.
For this reason, I feel that it’s a little bit risky to recommend their service at this time. In fact, you should never be bothered by their trial signal service which is charged $37. It’s not worth a penny in the real sense.
What do you find inside their signal packages?
The site sends signals with relevant target prices, TP and SL levels.
The site advises traders to always set a default stop loss of 30 pips — just in case a signal arrives in their inbox without a SL level provided.
Do you see that this is not right? An FX signal service that sometimes delivers signals without SL is clearly a phony service.
They do this with the intention of later tempering with the signals (as price changes direction) so they can claim a win while the early signals are losing and probably causing many traders to suffer massive losses.
Again, you have to remember that the site is distancing itself from taking any kind of responsibility. They hide behind the statement that they are not offering any financial advise and that their signal services should only be taken for educational purposes only.
That’s a clever way of saying, ”hey, we don’t care about your losses. We only care about your subscription fee, so don’t blame us when you incur a loss.”
Their methodology for placing TP/SL is not clearly defined
FX premiere is not very clear on reasons why they usually implore users to place a default stop loss of 30 in the event that they don’t deliver their signals with a defined SL.
Secondly, the site always targets a risk reward ratio of 1:3.
This is to say that if you are targeting 60 pips, your stop loss should be placed at 20 pips.
What if you’re targeting 17 pips? Your stop loss should probably be somewhere in the zone of 6 pips. It’s very unusual for someone to make a profit with tight stops especially when the markets are erratic or when unethical brokers are doing what they love to do — stop hunting.
Where is proof of performance?
Shoot this question to them and you will be ignored. You can take this statement to the bank by the way.
FX Premiere doesn’t love to take responsibility because responsibility comes with being transparent.
Look around on their site and you will not find any proof of past performance.
You could call it a lazy signal service because they couldn’t even afford the act of posting fabricated results like their other cousins do on the internet.
The thing is, this service does not have what it takes to make you any money in the Forex and Bitcoin market.
You’re actually paying them for doing nothing. And please do consider that FX Premiere service has been trolled badly on the internet due to their delayed signals (which they advertise as live signals), poor customer support and high-handedness.
This website is definitely a fraud because they don’t get their facts right. They don’t listen to users who have rated them poorly. And most importantly, this service seems to be a one-man army service that masquerades as a serious FX signal provider when the truth is hidden in their scam operations.
Wrapping it up
It’s easy to spot a bogus Forex and Crypto currency signal provider because we at least have access to reviews from users who were discontented with their poor signal service.
Instead of FX Premiere taking the necessary step to address these concerns, they responded with a deaf ear. But all hope is not lost. You can sign up to these top Forex products/services which we are recommending here.