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FOREX ABUSERS review

6 Aug 2023

General information

Let's take a look at a signal provider called FOREX ABUSERS. The provider provides paid and free signals on Telegram channel. The provider has a website and an Instagram account. Let's take a closer look at the provider under the fancy name FOREX ABUSERS.

Website

https://www.forexabusers.com/

The website of the provider does not give enough information about it. The provider writes the following about itself: "We have been changing people's lives since 2020 and are committed to continue helping people, what makes our company special is that we are all about helping our clients, we ensure they get more than what they paid for, we value our clients' time and capital. This website will introduce you to all of our services." What trading strategy, risk and money management they use is not said or nothing is written about the team in the company. 

Forex Abusers guarantees your success in forex trading and it is just a matter of time.  

On the next page the provider offers the following services premium signal, education, books, indicator and robots. For education the company asks for $94 for information that can be easily found on the internet and they promise to give you a secret strategy as well. 

The provider asks for their VIP signals from R500 = $27, R1700 = $94, R3000 = $165 for subscription. Traders can access the premium service by purchasing a 1, 2 and 3 month subscription. 

Social network

The provider has an instagram account with 636 people subscribed to it. The main channel publishes already closed successful trades, as well as posts teaching trading.

https://www.instagram.com/forex_abusers

Telegram

The main source of signals is the Telegram channel. There are 811 people subscribed to it. The average number of views is 230. The audience involvement is at a relatively good level and equals 28.33%.

 

If you look at the number of growth of subscribers, you will see sharp jumps up and down. The number of subscribers fell from 3300 to 820 people, that is, the loss is about -75% for the year. And this indicates a high probability of fake subscribers.  
In the pinned message, the provider writes that customers with them can double their account in 2 hours. In 2 hours? Isn't that an impressive promise?

Signals

Let's break down one of the latest signals from the provider's Telegram channel was on October 18, 2022. The signals was to sell US30 at the current price. Stop loss at the level 30470, and take profit the provider did not give. 


 
After opening the trade, the price immediately went against the forecast and the trade closed with a loss.

Reviews

Let's move on to the comments about this provider. No reviews on third-party web sites on this provider were not found. There are a few reviews on the site, all of them with expressions of gratitude about the success of the service.  Certainly, as their either negative or neutral reviews are not present. These reviews look fake and therefore the reviews are not trustworthy.

A client writes in the reviews: "I bought a robot from Forex Abusers three months ago and have earned over 100 thousand rand ($5000) with it. Thank you very much for such a powerful robot".

Conclusion

The provider actively promotes his VIP channel by showing screenshots of their profitable trades. And as usual providing a history of results as well as screenshots will not prove that the results are verified. The provider would have avoided this situation very easily if he had provided his myfxbook profile. The public telegram channel does not have a convenient design of signals, there are no specific numbers for entering or exiting a position, thus making the understanding of signals much more difficult. The provider does not provide some of the most useful information that traders deserve to know before trading their signals. Who gives these signals, who is behind them? What is their trading strategy, etc.?