Many signal providers offer their servicesfor free in exchange for depositing on a broker…Is it possible they are the same brokers? Is it possible they’re masquerading to attract new customers to cheat using the same signals?
Yeah, many brokers disguise and provide signals. But there is two point of view. In one way of thinking you will see it has negative effect and there is also positive effect. At first let’s talk about negative effects: If a trader execute a trade then no matter what the trader win or loose the trade, broker will earn money or commission from the trade. That is why many broker disguise them and provide signal but don’t care whether traders getting profit or loss from the signal. Their motive is just make traders to execute trade so that they can earn money.
Again, from positive point of view. Many new broker wants to promote them that is why to create positive mind set up to the traders mind they provide signals. But they try to provide best signal so that traders get attraction towards the brokers. But ether way brokers are getting benefit.
Yeah. Some of the signal providers do this thing, just to get commissions from broker side. But there are also some who just tell you to get signals for a special fee rather than providing free signals. So when they give 2 choices to customers free and paid, obviously customers go for the free one and you know how this free Signals work and how they earn.
Expertise: Market Analyst
After a Master's degree in Finance from SDU University, I worked for some of the largest brokerage houses in Germany.
Now I’m an independent trader after a twelve-year career in online trading. My experience ranges from stocks, indices and commodities for my personal accounts.
I’m specialized in combining fundamental and technical analysis with money management.
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