Simo Forex Signals
Simo Forex Signals

Istanbul, Turkey

#2 Jul 9, 2013
Scott

Panama

#3 Aug 2, 2013
This is a new trade copier signal service that started on June 17, 2013. I received numerous promo ads from Simo for the service. I did find that my contact information was taken from MBFX Systems, a company where Simo was previously involved. In speaking with MBFX Systems, they informed me that Simo illegally exported their mailing list, left the company, and used their mailing list. Simo also took one of the MBFX indicators called the New Trend Indicator, changed its name, and re-marketed the indicator as his own creation calling it the FX Indicator Predictor. Nonetheless, I stupidly signed up for the trade copier service at the end of June in which Simo claims 70% winners and 10% to 50% monthly (you will laugh at these claims when you see the results). Simo took 1 week to get the copier service properly working on his end. So on the start of the 2nd week, I took all of Simo's trade signals for use on a LIVE account. Here are the results:



TOTAL TRADES: 64

TOTAL WINNERS: 12 (17%)

TOTAL LOSERS: 52 (83%)

CONSECUTIVE WINNERS: 2

CONSECUTIVE LOSERS: 14



DRAWDOWN:-16.2%

MONTHLY PROTRATED DRAWDOWN:-32.4%

After 2 weeks, I had to shut it down to stop the bleeding from having my account wiped out. With such horrendous trade signals, I requested a refund in line with his 60 day guarantee. Before the request, he would respond to an email. But after the refund request 3 times, all requests were ignored. I assume that nearly all the new clients for the new service were also asking for refunds, and he went into hiding.

SUMMARY: STAY AWAY FROM SIMO FX SIGNALS

Someone who rips off his previous work place for their mailing list, someone who rips off indicators and re-packages as their own, and someone who makes false performance claims and puts out signals with performance so bad that it would be hard to duplicate even if you intentionally tried to pick losing trades. Then to top it off, does not acknowledge refund request under the 60 day guarantee.
Parm

Cannock, UK

#4 Aug 16, 2013
Have been subsribed to Simo Fx signals for around 3 months now and I really wish I had never bothered.

The e-mails you get from him claiming hundreds of points profit had been made over x amount of days are completely false. Exactly following his trades, stop losses and target points (as I have done) will mean you end up with heavy losses.

I have been trading for a few years now so I am aware that you cannot end every trading session up but the losses I have suffered have been huge. I was looking for an automated system that I could trust, where I could go to work and come home to find some decent gains. No such luck with this system. I have given it a few months to see if the signals would generate returns but I am now going to cancel my subcription.

I originally went by the reviews that came up when I typed 'Simo FX Signals review' into Google that were really positive. I now realise, however, that all the good reviews that came up from various websites are generic and that they are all making money from him every time someone follows a link from thier pages. If you click on the 'affiliates' link at the bottom of the Simo Fx home page you will see him offer each 'affiliate' 75% of the sale price and then 50% each month afterwards. It's no wonder that certain websites are offering a 'special gift' if you sign to Simo FX following a link from thier pages.

He has been very quick to respond to questions regarding his "system" but as soon as I have requested a cancellation I haven't had any response in over a week. I will be contacting clickbank to make sure I am not charged for another month.

Do not bother with Simo Fx signals, you will not make any money.

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