Topic: Must Read: Scams disguised as premium signal groups/channel - page 5. (Read 580 times)

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.

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.

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.

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.

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.

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

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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.

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.

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.

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.

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.