Must Read: Scams disguised as premium signal groups/channel

[kentrolla]

Before I go any further I would like to clarify that no one can predict the market and I am going to shed some light to the modus operandi of those signal mafia as they add you to their group which is created to attract customers where you will find screenshots about how their signals has helped members to earn a lot of profit and even you can earn huge amount provided you join their premium channel:

Here are some basic questions we need to ask ourselves:
1. If they can help you earn so much profit they would already be ultra rich and wouldn't be spamming your inbox to join their paid group
2. Why don't they share the daily report or weekly to check their accuracy percentage
3. Why don't they make it free even on trail basis so that users can get a first hand experience and join

My observations after being a part of a paid and few free group who provide limited signal for free users and more for premium:

1. Let's say they make `6 predictions/signal a day and even if 5 signal fails they will still share screenshots about that one signal which was succesful and it's a simple maths lets say you have $100 and you divide that investment between 4 bets which the channel/group has to offer and you go for long/short based on the update by splitting $25 each and end up losing everything in 3 signals and gaining 200% (inflated number just to explain) from 1 signal they will take that screenshot and start marketing and use it as bait but you will only have $75 though you won 200% in one coin but lost in other three and maximum number os users will lose everything.

2. Why don't they make a report though it can be manipulated, still sharing a daily report or weekly report to define the profit and loss which members have incurred will help other to decide whether it's worth joining or not. But if they start sharing it, trust me no one will join looking at absolute numbers.

3. If they make it free trail then users will understand it's a trap and will not join the channel/group

4. They will have 4 stage for take profit and if it hits 1st target and liquidates while you are waiting for 4th target to be achieved still they advertise that you have got a profit of 1st target and vice versa

Conclusion:
Rather go for technical analysis nad learn to read indicators and back test the date you will be in a better position to trade rather than joining paid groups.

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[Yamane_Keto]

Crypto singals are a type of copy trading, but due to the lack of any regulatory legislation, such methods are used for fraud. In the stock market, there is a company that has advisors, which takes your money as liquidity and invests it for you to make profits by obtaining recommendations from these advisors. Here, the advisors make a profit, the company makes a profit. He wins and you make a profit.
In cryptocurrencies, due to the difficulty of predicting in the short term and most of the trading does not take place in altcoin, even if these groups are free, they can use the liquidity to pump some scam tokens without your permission, the chances of you being scammed or losing your money are almost certain.
The only non-scam case is when others like to share their recommendations and tell you that DYOR.

[taufik123]

But if the early adopters are in the free group, they will see the numbers given and the motivation to buy with the signals given.
Free signal groups created with thousands of members will attract many people, they actually don't want to provide free signals, but rather promote their premium signal groups which in turn ordinary users will start to be interested in joining.

This happened to me a few years ago, when I was new to crypto and didn't fully understand trading.
Initially, I joined a free group and made some profits. With that success, I went to the premium group, and guess what I got.
Yup the premium signal did not provide a good income, even when it was in a bear market so it made the premium signal vacuum in a few months.

Such groups are better to stay away from, because it will just be an organized trap that will drain the money of anyone who believes in such groups.

They also add members automatically when telegram users do not limit who can add them.
Like this Signal Premium group, I was added automatically in 2021 and they are just a bunch of scammers.

[Oshosondy]

Here are some basic questions we need to ask ourselves:
1. If they can help you earn so much profit they would already be ultra rich and wouldn't be spamming your inbox to join their paid group
2. Why don't they share the daily report or weekly to check their accuracy percentage
3. Why don't they make it free even on trail basis so that users can get a first hand experience and join

Signal providers are scammers and nothing more that we can call them. They only care about their pockets and not the signal they give to people. If they give signal and the person trade with it and the person lose, they are not concerned or bothered but happy because of the money the person paid them for giving him the signal. They are just fake as they are and nothing more good than to avoid them.

[Lakai01]

Signal providers are scammers and nothing more that we can call them.
[...]

I think you have to be careful with generalizations here. There are indeed legitimate signal providers that have been around for a very long time, especially in the stock market, and can definitely demonstrate success there. Some are even free, for example this one: https://www.wallstreet-online.de/aktien/signale


What I think you are referring to here are pump & dump groups on Telegram or signal groups that post signals for coins with extremely low market caps. These are actually scams, as the process is usually as follows:

• the group operator stocks up cheaply on the coins he will post a few days/week later
• the group operator posts the signal in the group and sells his previously cheaply purchased coins at a very good - because pumped up - price
• the slowest participants in the group are left with the losses
• the group operator buys the next low market cap coin and the game starts all over again.

So yes, calling this a scam fits quite perfectly.

[benalexis12]

What I see in those signal groups is that almost all those in their chat group channel on Telegram are really scammers. Then, in fairness, they are experts in hyping the community here in the crypto business industry. Because they still have a lot of people.

Because if there weren't so many people being cheated, those groups of signals wouldn't exist by now, right? So my advice is: don't join those groups of signal channels. Believe me, they will eat or just eat your money for sure. Be careful and think carefully before spending money on such things.

[salad daging]

This happened to me a few years ago, when I was new to crypto and didn't fully understand trading.
Initially, I joined a free group and made some profits. With that success, I went to the premium group, and guess what I got.
Yup the premium signal did not provide a good income, even when it was in a bear market so it made the premium signal vacuum in a few months.

Such groups are better to stay away from, because it will just be an organized trap that will drain the money of anyone who believes in such groups.

They also add members automatically when telegram users do not limit who can add them.
Like this Signal Premium group, I was added automatically in 2021 and they are just a bunch of scammers.

I don't believe that this premium trading signal will only benefit the group owner because members have to pay for it, there are always those who say that somehow the free trading signal is always profitable when they follow it, but when entering the premium signal, the profit is no longer worth it, is it because the signal is no longer relevant so the owner distributes signals randomly? That is their expression.

I actually joined a lot of free trading channels, I don't know why I joined them, but they are actually automatically messaging telegram users or a bot that is run to attract all users to join the signal group.
Do not trust any trading group, it will indeed drain the customer's money and the owner only benefits from it not from the trading results.

[Awaklara]

If the group only shares trading signals, whether they are successful or not ultimately the decision to follow the signals lies with us. some traders may not immediately follow the signals given. they process and try other analyses to ensure the accuracy of the signals before they place a position.
I don't like it when there are signal groups that end up sharing advice on investing in shitcoin projects. they benefit from collaboration with new projects. telling their followers to invest in the project. but the results do not match your expectations.

[taufik123]

-snip-
but when entering the premium signal, the profit is no longer worth it, is it because the signal is no longer relevant so the owner distributes signals randomly? That is their expression.

Using premium signals will pay off at first, but over time the performance decreases and there are even no successful orders.
Premium groups that only copy other people's signals will only give numbers without explanation, giving random signals.

They have already benefited from the registration fee.
Just imagine if the entry fee is between $100-$200 and multiply it by the thousands of members who join.
They are already earning hundreds of thousands of dollars without trading.

I actually joined a lot of free trading channels, I don't know why I joined them, but they are actually automatically messaging telegram users or a bot that is run to attract all users to join the signal group.
-snip-

To avoid being added to unknown telegram groups, set the privacy of your telegram account,
it will solve everything and no strangers will add you to unknown groups.

[kentrolla]

Signal providers are scammers and nothing more that we can call them.
[...]

I think you have to be careful with generalizations here. There are indeed legitimate signal providers that have been around for a very long time, especially in the stock market, and can definitely demonstrate success there. Some are even free, for example this one: https://www.wallstreet-online.de/aktien/signale


What I think you are referring to here are pump & dump groups on Telegram or signal groups that post signals for coins with extremely low market caps. These are actually scams, as the process is usually as follows:

• the group operator stocks up cheaply on the coins he will post a few days/week later
• the group operator posts the signal in the group and sells his previously cheaply purchased coins at a very good - because pumped up - price
• the slowest participants in the group are left with the losses
• the group operator buys the next low market cap coin and the game starts all over again.

So yes, calling this a scam fits quite perfectly.

What you are referring to is a pump and dump groups and they neither charge people nor have membership program as their amin source of income is the shit coins or low volume coins which they would have accumulated earlier and just wait for the users to follow their signal and buy that coin which pushes the value of the coin higher and immediately sells off in bulk this the person who are late to sell their coins are losers. I am referring here to the crypto signal groups who shares the details on coins which we have to long or short with the specified there targets and only shows winning side by sharing screenshots and hiding their losing bet. unfortunately people falls trap for this and end up paying for membership. I have personally lost a good amount of money as it's like gambling wherein your mind is attached to the signal that as soon as it's shared you end up buying it to avoid missing out on entry price specified. If they really do offer such accuracy then why to collect membership fee because of their signals are so accurate they don't have to waste time creating group and selling membership and moreover no one will be poor. 

I agree with you on stock market but crypto is different.
 

[Eternad]

What you are referring to is a pump and dump groups and they neither charge people nor have membership program as their amin source of income is the shit coins or low volume coins which they would have accumulated earlier and just wait for the users to follow their signal and buy that coin which pushes the value of the coin higher and immediately sells off in bulk this the person who are late to sell their coins are losers. I am referring here to the crypto signal groups who shares the details on coins which we have to long or short with the specified there targets and only shows winning side by sharing screenshots and hiding their losing bet. unfortunately people falls trap for this and end up paying for membership. I have personally lost a good amount of money as it's like gambling wherein your mind is attached to the signal that as soon as it's shared you end up buying it to avoid missing out on entry price specified. If they really do offer such accuracy then why to collect membership fee because of their signals are so accurate they don't have to waste time creating group and selling membership and moreover no one will be poor. 

I agree with you on stock market but crypto is different.
 

Probably you only saw those pump and dump signal group on telegram channel that provide buy price and tp/sl with their signal but there’s indeed legit signal that provide better technical overview with their call to back up their signal and not the typical pump and dump.

Signal groups/channel started as legit service and just impersonate by scammers now due to its demand. I do agree that most of this group now is mostly scam but there’s still legit out there that give solid call. Ofc premium membership is required since owner is doing thorough research on bunch of tokens just to find perfect coin that is showing potential pump through TA and FA.

[stompix]

Signal providers are scammers and nothing more that we can call them.
[...]

I think you have to be careful with generalizations here.

Yeah, we must generalize to such an extent that absolutely no ground of disguised pump and dump scammers are left outside.
Every single one of those so-called signal groups is a scam, either by tricking newbies to buy subscriptions to garbage or tricking them to buy a ton of useless shitcoins just so the scammers can dump their load on them.

It makes no sense to run such a channel, why would do it if you know you're profitable, having hundreds of others doing the same as you just nullifies every gain.
That's why the ones that buy courses on how to win the lottery don't win a single time while the authors of that non-sense are laughing their asses in cash, would you spend the money and go through the trouble of writing a book when you just win the lottery with 1$?

There are indeed legitimate signal providers that have been around for a very long time, especially in the stock market, and can definitely demonstrate success there. Some are even free, for example this one: https://www.wallstreet-online.de/aktien/signale

If those are legitimate and free why is that not everyone following them is a billionaire already?

[Mahanton]

This happened to me a few years ago, when I was new to crypto and didn't fully understand trading.
Initially, I joined a free group and made some profits. With that success, I went to the premium group, and guess what I got.
Yup the premium signal did not provide a good income, even when it was in a bear market so it made the premium signal vacuum in a few months.

Such groups are better to stay away from, because it will just be an organized trap that will drain the money of anyone who believes in such groups.

They also add members automatically when telegram users do not limit who can add them.
Like this Signal Premium group, I was added automatically in 2021 and they are just a bunch of scammers.

I don't believe that this premium trading signal will only benefit the group owner because members have to pay for it, there are always those who say that somehow the free trading signal is always profitable when they follow it, but when entering the premium signal, the profit is no longer worth it, is it because the signal is no longer relevant so the owner distributes signals randomly? That is their expression.

I actually joined a lot of free trading channels, I don't know why I joined them, but they are actually automatically messaging telegram users or a bot that is run to attract all users to join the signal group.
Do not trust any trading group, it will indeed drain the customer's money and the owner only benefits from it not from the trading results.

Premium groups or totally free, it doesnt matter or something that do talks on having no difference on which it would really be just that normal that there would really people who would really be that willing on paying up those sub fees just for them to get inside and get those kind of access but to those who do have joined which they do make out that kind of realization that those information and trading tips and suggestions is never been that too different on what they could really get on free groups on which this does proves out that there's no way that you could really be able to benefit even if you do join up with those premium groups. Always come in mind  that this market is really that unpredictable and there's no way that you could really be able to have that kind of edge because you do know on where its going? Totally impossible!

Surprisingly there are really just still those people whom do really easily believe that there would be those kind of advantage if you are inside of a paid group. Sooner or later then you would really be that able to tell
that it wasnt worth. So far basing up into my own experience and ideas in mind that its never been that considerable on making such act on trying out to join up for the sake of advantage.
Its up to you somehow whether you are willing on paying up on the said fee or not.

[el kaka22]

ALL signal groups are scams, do not trust them, the ones that are obvious scams are the ones where the creator is aware that he is scamming you and they are asking for money and trying to just make as much profit as they can while trying to scam others and convince them. The ones that do act like they are not scams are the ones the creator is actually trying to help you but it's just a signal and the signal is tied to indicators and those indicators can't be all right so you are going to lose anyway.

If it was that simple we would all use those indicators and we would all be getting richer, don't you think that if a single could be made for bitcoin wealth, we would all be aware of it today and get rich thanks to it, we would all be millionaires by now. So all in all, the idea of a signal group itself is a scam, you can't make profit via signals, nobody could give you signals that could make you rich, it is impossible and you should stay away from them all.

[Stepstowealth]

Conclusion:
Rather go for technical analysis nad learn to read indicators and back test the date you will be in a better position to trade rather than joining paid groups.

The people who they attract the most are the lazy trader who are just looking for the easy road to be profitable in trading. Depending on signal groups is not a good plan if you want to continue trading, because whenever they demand money, you will always want to pay and if something happens to them, you will find yourself not able to continue trading. It is just some very few traders who are profiting from trading, some other traders are just trading their knowledge for money.

[DVlog]

I was in one of those groups. Actually one of the youtuber i was following was sometimes the owner of the group and later I figured out that he was doing sponsor videos for some altcoin projects and telling his community to invest in those projects. In the mean time he was taking promotion charge from those projects and making investments before releasing the video and he later dumped his bag when his community started buying. These were low cap coin so it wasn't hard for a small community to pump up the price. His secret was revealed to me after he took a significant loss from a project.

[Captain Corporate]

I agree with this, I have seen them and have heard about them as well, this is why I have been in crypto for ten years and yet never been part of any signal group, in fact I haven't even been part of any "free" ones neither. Thats another thing that people have to look out for, there are people who claim that their stuff is free and then they end up being a little bit different and act as if they are doing it from the goodness of their hearts, or there are free ones that are "demo" for the paid one and tell you like "you get one signal per day here, you get 30 at the paid one" and if that one is right, then they gain a customer, if they are wrong, then no customer. Never been part of any of them.

[Hyphen(-)]

Here are some basic questions we need to ask ourselves:
1. If they can help you earn so much profit they would already be ultra rich and wouldn't be spamming your inbox to join their paid group
2. Why don't they share the daily report or weekly to check their accuracy percentage
3. Why don't they make it free even on trail basis so that users can get a first hand experience and join

Just as you are working and hustling to make money, they are doing the same too; they take doing this as their source of income. That is why they do all this to call people to join their channel for trading signals that they are not sure if will be successful or a loss.

Conclusion:
Rather go for technical analysis nad learn to read indicators and back test the date you will be in a better position to trade rather than joining paid groups.

Learning is the best option for them; after learning, you will keep enjoying trading for free without relying on any signal or joining any group that may expose your privacy and lead you to be scammed or lose your money.

[Jegileman]

Here are some basic questions we need to ask ourselves:
1. If they can help you earn so much profit they would already be ultra rich and wouldn't be spamming your inbox to join their paid group
2. Why don't they share the daily report or weekly to check their accuracy percentage
3. Why don't they make it free even on trail basis so that users can get a first hand experience and join

This question must have rang in so many people’s mind and they will still neglect the red flag and go ahead to pay this scammers for signals. There is something we should be aware of, rich or successful people hardly share their means of wealth until you’re close to them and have access to them and this does not have exception to some certain set of people or region. If they are super rich, they won’t waste time selling signals to people and be earning from there.

Conclusion:
Rather go for technical analysis nad learn to read indicators and back test the date you will be in a better position to trade rather than joining paid groups.

This will absolutely be the best way to learn about indicators and signals. Trading is kind of technical but when you have the right knowledge of it, it will be more simpler for you to understand and apply them during trading.

[gabbie2010]

Here are some basic questions we need to ask ourselves:
1. If they can help you earn so much profit they would already be ultra rich and wouldn't be spamming your inbox to join their paid group

This is exactly my thoughts about the paid signals channel I believe a very good trader would rather trade anonymously and earn decent profits instead of creating a paid signal channel that would be distracting their job, In Twitter I followed many experience forex traders who are trading six figure funds with Prop firms yet none of them has time for establishing a telegram signal provider service but would occasionally post pictures of trading chart for their followers to learn some trading Price Action and strategy, meanwhile the so-called paid signal provider generate their income mainly from their subscribers of course their are not regulated thus carried out their fraudulent activities unchecked.