SignalStart Reviews 106

Dear reader,

In my experience, the returns on SignalStart do not reflect real-world returns. DO NOT USE.

I am copying a trader known as 'Bluewhale Capital' using the recommended broker Liteforex with 1:500 leverage ECN account. The broker I am using is identical to the the one suggested by Bluewhale. I have run the software for a few months now, and it is absolutely clear that commissions are NOT being included in the official returns. I have confirmed this over chat with the support team at Liteforex.

Currently I have sent all of my attachments to Chris at the generic signalstart support email address, who to be fair has been very helpful in my setup and initial questions - although I did ask at the very start of this journey if the published results include commissions and broker charges to which he answered yes.

This is clearly not the case. So far I am awaiting a reply to the email I sent today, but I am not hopeful this will be resolved. I have sent screenshots and text threads from Liteforex confirming what I have experienced in my real account.

I look forward to Signalstart's reply as to why my real-world account returns do not match the published results using the identical broker and identical settings.

Signalstart claim this is down to the broker - however with Liteforex you only have 2 options: ECN or classic account. ECN has MUCH tighter spreads in line with the entry and exit points of the historically recorded trades. The classic account has no commissions, however you will not be able to replicate the entry/exit points shown by Bluewhale Capital using the classic account, since the spreads are 7-8x wider. Signalstart claim that the signal provider has a 'swap and commission-free' account. No such account exists! I have asked them to provide me with the EXACT account type that the signal provider is using and they have not given me that information - because no such account exists!

I have requested they refund me my subscription fees, since they are selling a system that CANNOT be replicated in the real world.

Please note - Signalstart have been forced make a change to include swaps in their results since I raised this issue but still have NOT included commissions in their returns. I feel like I am banging my head against the wall with their support team. I have provided many screenshots and supporting evidence which they continue to ignore - specifically on commissions still not being included.

The signalstart platform is fine, but 99% of the signals are Trash and sooner or later will destroy your account! Overall not a good offer!

I've used SignalStart since 2017, both as a trader and as a trade follower. This is absolutely the best signal provider on the market in terms of their VPS, trade execution, and user friendliness, however I can understand people's frustration with blown accounts when following traders who appear in the top 10 list. You have to do your research and due diligence though, if you follow a trader just because he's in the top 10 then clearly you don't know what you're doing and deserve to lose your money. Do you even know how the ranking algorithm works? If not then why would you blindly trust it without some investigation first on your part?

SignalStart on the other hand also needs to improve their ranking algorithm coz it's clearly designed for them to make money from inexperience gullible customers. Instead of looking at important things like how long the account has been around, the trader's risk profile, average time duration of open trades, broker trustworthiness, capital investment, the algorithm seems to be only interested in the current week's or current month's percentage growth for a trader's account. It doesn't even factor in total lifetime deposits vs profits & withdrawals. Somebody who started with a $10 account and grew it $100 (1,000%) then deposited $1,000 but eventually lost $500 will still appear as having a 1,000% growth even though ultimately they made a loss of about $400.

I don't believe signal start will ever change this. Because it's not exciting to customers. They know customers only want to see 200% growth, 600% growth, 10,000% growth, etc. This is what makes the inexperienced and gullible rush to sign up and follow a 1 weak old trader. Only to lose all their hard earned money in a few days while signal start makes $$$.

Yes I know my money is at risk when trading, however this is simply a money vaporizing machine...

I deposited 10K EUR on a broker and divided the funds on 2 accounts (which is safer, right?). Then I started following 2 signals (paying service fees for each) which were in the top 20 and showing very steady growth results. Now 6 DAYS later all my hard earned money is GONE (except for a couple of hundred). And the signals are nowhere to be found on the front page. They have been replaced by other “well performing” signals. Like everything is normal and healthy.

Now I found 2 things very alarming when starting this and that should have warned me:
- the signals have no link to actual myfxbook resultspage. So no proof that the performance graph is legit.
- there is no option to get in touch with the signals or any other user on this platform. You are simply in your own restricted “balloon”. There is only a mailto support option.

I got half of my service fee back, however support is ignoring my questions and not excusing for anything.

I am SO angry!
Please AVOID SignalStart

My 2 blown accounts: search for DeVisdude on Myfxbook

I have not yet started using the service because I am not sure of the signal provider that all my money will be tied to. Is there a way that someone can communicate with the signal provider?
Also I have been wondering why we only have accounts that are 2 years and below whereas signal start commenced operations 5 years ago

SignalStart is a very good solution to follow signals of traders without managing a server (and rent it) as they provide a complete and high secured solution in premium datacenter.

i have experience with signal statt for around 15-18 months.

there is only once the signal wasnt follow, i have to engage them and they reconnect the signal for me.

selection of signal to follow has a huge variety,

1 signal provider help me gain 5 fold over 15 months. but he left signal start.

what a pity. unable to contact the signal provider.

over all experience is good with signal start

This looked to be a promising signals provider although the fees, coupled with the customer experience, is horrible. They charge $25 for EACH subscription in addition to the signal provider fees, apparently for VPS uptime, notwithstanding the fact that you can rent a VPS for about $10 monthly for multiple MT4 instances.

In addition, there's no way to communicate with signal providers which is very strange given you're trusting them with a lot of money. I regretted paying any money to these guys and should have opted for MQL instead = cheaper fees, ability to interact with traders, a market for EAs, and generally a much more friendlier customer service team.

I opened a following account with Signal Start, then followed a signal provider with suscription fee of 300$/month, which is not really cheap at all and he has had a good perfomance result for 4 months.
The problem is that the signal provider blown nearly all of my trading account of bunch of money within couple of weeks, then I stopped/deleted my Signal Start Account from Aug 14, but Signal Start got my money deducted again on my credit card on Sep 2 for the next month suscription fee without asking for my permission. (I did not allow them to renew automatically my payment, no one could ever accept the automatically payment from any website - that's horrible).
And the signal provider that I suscribed also stopped giving signals as he nearly burned all of his trading account (drawdown 99%) but Signal Start charged me 2 months for the Suscription fee, is this refundable???

I need feedbacks asap for this crazy mess, as this is unacceptable. I will never use the services of myfxbook and signalstart anymore

I use the service and I am very pleased, e.g. thanks to Signalstart I’ve made quite some money. No scam here. Support is very fast. As this is their first review, I must emphasize that I am in no way affiliated to the company. The company itself is a spinoff of the much more recognized Myfxbook.