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  • #16
    Something I'd also like to mention is that we'll be increasing our partnership with Tallnex to help support our US clients.

    The VIP club will remain open and available to US clients and we'll be dropping the minimum investment amount to only $5k for a limited time.

    Our poor US brothers are limited in their options, however I've been doing a lot of homework on Tallinex and have to say that they seem to be fantastic based on my personal experience dealing with them as well as the homework I've done online.
    Click here to check out the most popular forex channel on YouTube

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    • #17
      Originally posted by Nick View Post
      On the 1st of May we'll celebrate the 4th anniversary of this great site! It's quite an achievement and I'd like to extend a big THANK YOU to all you guys for being part of it and coming along for the ride.

      Over the past few months I've been reflecting and doing some research into how the site and industry have evolved over this period, and we've come to the conclusion that it's time for a shake up.

      The original idea when I first thought of the concept for this site was was to provide a free trading room where our members could exchange trading ideas and discuss the market, we'd then make revenue by offering the ability to subscribe to our traders in return for a monthly fee. This was during the golden age of EA's like Million Dollar Pips and Forex Growth Bot when forums like DonnaForex.com had thousands of members buzzing daily about automated systems in an attempt to find the holly grail. But since then the industry has changed significantly.

      Let me give you an example:

      The first signal I launched back when our domain was LiveForexTrading.info (cost me $2 and had zero traffic) was known as Erio's Earner. I posted a 3 month track record on DonnaForex.com and ForexPeaceArmy.com and within a month I had 400ish subscribers, 500 daily emails and dreams of quitting my current job within the month.

      If I tried to use the same model today I'd be lucky to get a single subscriber.

      This isn't specific to our site, it's across the industry. EA's are dead, ZuluTrade's funds under management have dropped by 95% and MyFxBook's Autotrade has been an undeniable flop after what seems like suffocating amounts of advertising over the past 2 years.

      People now either want guidance on how to trade for themselves, or they want a set-and-forget solution where they can stick their money behind a trader and leave it.

      If you're not growing, you're dying, so it's time we adapted and embraced this change by offering a solution.

      So what's the plan?

      A new trading room


      We're going back to basics with a focus on the trading room as the heart of our site. The existing room will be expanded to provide a more interactive experience for you guys with live streaming and commentary from professional traders. We'll be displaying live charts, trading news events live and offering a level of interaction that should make our site the go-to destination to discuss trade ideas.

      As always, it'll be free of charge and open to the public.

      We're also hoping to invite you guys to participate if you desire by posting organised trade ideas and even potentially running guest moderation spots.

      Signals will be replaced with MAM's
      Signal subscriptions will no longer be offered to new clients. Instead there'll be individual MAM's offered for each strategy at one of our preferred brokers (Mt Cook) with the ability for investors to allocate capital on a performance only fee basis. Mt Cook have an automated MAM solution that allows us to support potentially thousands of clients seamlessly compared to the more well known brokers who run antiquated 3rd party software that requires manual monitoring and administration for each client.

      I know this second point may upset many of you who enjoy the freedom that the trade copier provides. Rest assured you'll still be able to keep your existing subscriptions for as long as you want them, however I'm confident that offering managed accounts is where the industry is heading. To give you an example, the number of clients joining the managed accounts have grown substantially over the past 2 years, whereas the number of signal subscribers have plateau'd over the same period.


      The video below explains in a little more detail what I have in mind. Thank you once again for your support and I welcome any and all feedback you can provide.

      Good luck nick .. you worked hard for it ...
      I would just like to know if you will we closing the current mamms at icmarkets. .. as for me by no means will i ever join mtcook as i dont feel.my money will be safe there ( and so many other customers i know here also ) ... i see it a sort of set back forcing on such broker ... especially with the multiple market scams we see every day ... i cant imagaine myself passing the chances of beating the market and winning then the broker takes away my money ☺...
      There r no guarantees whatsoever for our money under their south african regulations ( thats their own companies reply by the way ).
      Honestly nick .. as i know u appreciate honesty .. i saw it a bit self-centered from the website forcing it on us ... dont know what the deal was but it must be pretty damn good .. i would rather you would have forced extra processing fees on me than joining an unregulated broker..
      I would just like your confirmation regarding the current mamms at icmarkets ... how long will u make them last so that i would prepare myself and look for alternative investments or opportunities to employ my money .. also i hope the move will be when we get flat whensoever..
      Its has been noce dealing with all the team here and u specifically ... but this step just means for m3 i have to leave ..
      Thank you all guys for your efforts for the past years

      Sent from my SM-G900H using Tapatalk
      Last edited by Sherif; 04-13-2016, 12:32 PM.

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      • #18
        1st issue When I look at the Home page of this website is it isn't clear what is offered to a newbie and may be causing confusion.
        2nd issue is why trust this website ? when they come to the site ingrained in their mind of being screwed over multiple times by other websites, Why trust this website ?.


        Maybe it should lead people via 2 different directions.
        On the home page is a link to Each choice which which further explains what has been selected.

        Home Page:

        It is 1 service with 2 different ways of connecting Investors to Professional Traders which do you prefer to use to make your money work for you 1 or 2 ?.

        1/ Do you want to invest in a MAM with Pro trader and Sleep and watch your investment grow .... ?

        2/Do you want to be more active and manage it all yourself ...... ?
        To Copy you need to .........
        Last step before signing up.. 2c/Last is the offer of a VIP account for Option 2/.

        You have to guide and hold a new customers by the hand with information (Not overloading but information to guide).Guide them from the beginning to what they have to do get started with the choice they have chosen.
        Last edited by genki7; 04-13-2016, 12:49 PM.

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        • #19
          A change is always better, if indeed its a good change. Concept of MAM, streaming videos etc is definitely a good sign. Straight to the point --> Following suggestions / input: -
          (1) Paypal doesn't support many countries. You literally went out of reach by limiting yourself to Paypal only and no VISA Debit / Credit options. However, Skrill support definitely ease up things.
          (2) Swap-Free Accts remained scarce. Just recently (maybe 2-3 months back) IC Markets started support for swap-free accts. MT Cook still has not be able to manage that. People who will going after swap-free MAMs, many of them will never be going after swap based MAMs. A messy sit here and maybe you can figure out some solution to these issues later, however, as you mentioned that ST will remain open so maybe the problem will not arise.
          (3) I don't know if u had seen ForexBold.com when it was under beta testing. It used to fetch summary of traders positions / sentiments from different brokers and used to display data of 1 instrument (selectable) with traders positions across (almost all brokers). (Traders positions / sentiments as on https://www.instaforex.com/ and https://www.dukascopy.com/swiss/engl...tch/sentiment/ and myfxbook etc).
          (4) Streaming video seems an impressive idea and I don't know how will that come up in the overall framework of ForexSignals site. However, if it doesn't prove much appealing, then maybe it will create a drag for progression of your site. (When no streaming available, then what? When requirement to shut it down then turning on / off option should exist and in that case dynamic re-arrangement of widgets may be required). To look from a different perspective of this thing --> You know the bell / alarm in the trade room has been one of the most exciting things for many. (But I guess maybe u knew this already. lol)

          Good Luck
          Last edited by Bangash; 04-13-2016, 06:37 PM.

          Comment


          • #20
            Nick, I got to admit your delivered message is a bit funny to me. In video you mentioned people don't get what they expect when they come to forexsignal.com website.
            Hmmm, what do they expect then? Isn't it clear in the name of domain? I am 100% sure they get what they expect.
            They are not coming onto bakingsoda.com or powerflower.com and expect forex signals. They come to forexsignals.com and probably expect forex signals not recipies of how to make a meatloaf? Or do they really expect something else rather than forex signals??

            I believe you should be honest and admit you believe in this traders and you know 30% of performance is a lot more than $70 per average subscriber.
            Why aren't you doing the same with SimpleTrader traders? Because $60 per subscriber without any risk on your side is more than 0% of performance fee if traders fail.

            Basically you are moving "best" traders to MAMs due to your other reasons as written above and leaving ST traders to generate income without your risk involved.

            Don't get offended with my message but you won't be able to convince me that I'm wrong.

            You had very bad traders and bad situations in the past years on ForexSignals.com, however people were still paying for subscriptions and supporting your project nonetheless to what happened. But now you are saying to them "screw you" we are taking advantage of really good traders at this point and moving into more lucrative direction.
            You will do whatever you want but with respect of what I've just written I believe you should think about everything again.

            Perhaps you might think about something else too. I have some funds invested with Viper and am planning to withdraw soon because I have zero ability to interact. By subscription I can do free decisions when I see trader has gone wrong way.
            Your decision at the end but think again. Thanks for reading my message.

            Comment


            • #21
              I agree with Vidster the changes are more about trying to get more revenue for forexsignals.com (Nick and his team).

              Reducing choice is not the way to go (Cancelling copy service and having only MAM is strangling the business rather then growing the business).


              I think most people who come to this site have considerations:

              1/Is this trader going to blow my account or can I trust he is doing his best to protect my capital.
              2/Is this another Bull shit forex website with everything is fake.
              3/Broker Risk if closes due to insolvency/Bankruptcy (Location, regulated, well known, good reviews).
              4/Location of the Broker:Is it a pain in the country the sub llves (Tax wise, Deposit/withdrawal)
              5/ Is this a fly by night and only interested in suckin me dry.

              Nick my concern for Forexsignals.com is that if you try to grow to fast you will burn existing clients and may struggle to find new clients.
              As a result alot more effort and still the business didn't grow.

              Keeping the copy service:
              -: Alleviates Point 3 and 4 above, Broker Risk and Location of broker.
              -: No need to spend hours on reconciling accounts for the Performance fee calc.
              -:Point 5 above can be alleviated if it is a dynamic subscription fee. (Month no profit no sub fee or Double profit sub fee increases)

              It would be great to see Vipers signal brought back as a copy service as well.

              Going with MAM is good but:
              -: Consider where the MAM is located (Existing sub's shave already screamed loud and Clear South Africa Regulatory system isn't where they want their money. (These are your "Trusted and Loyal existing Client base" , A new sub at this website who has No trust or loyalty with this site will have even less interest.
              :- Alleviates Point 5 above (Performance fee paid on HWM).

              There has to be a better way to increase your revenue and not killing this site. (Have some patience, you and your team at forexsignals.com have done a great job. Best not make rash decisions.


              I first found this site by Google searches.But didn't trust it for almost 1year back in 2013 to 2014.
              What inspired me was reading the support in Donnaforex signals about Viper . The Posters there have dropped off alot, Last post was October 2015 and maybe once per month prior to that.

              It is damn hard to find a decent/Trustworthy forex site and when they disappear in to the other thousands of posts on other independent forums you are losing people being able to discover you. (Maybe have the Forum component of the site on Independent sites such as Donnaforex or Forex Factory etc... People are constantly talking and helps make this site discoverable as it was 2 years ago with all the posts that flu thru those sites.
              Last edited by genki7; 04-13-2016, 11:09 PM.

              Comment


              • #22
                Originally posted by genki7 View Post
                I agree with Vidster the changes are more about trying to get more revenue for forexsignals.com (Nick and his team).

                Reducing choice is not the way to go (Cancelling copy service and having only MAM is strangling the business rather then growing the business).


                I think most people who come to this site have considerations:

                1/Is this trader going to blow my account or can I trust he is doing his best to protect my capital.
                1/Is this another Bull shit forex website with everything is fake.
                3/Broker Risk if closes due to insolvency/Bankruptcy (Location, regulated, well known, good reviews).
                4/Location of the Broker:Is it a pain in the country the sub llves (Tax wise, Deposit/withdrawal)

                Nick my concern for Forexsignals.com is that if you try to grow to fast you will burn existing clients and may struggle to find new clients.
                As a result alot more effort and still the business didn't grow.

                Keeping the copy service:
                -: Alleviates Point 3 and 4 above, Broker Risk and Location of broker.
                -: No need to spend hours on reconciling accounts for the Performance fee calc.

                It would be great to see Vipers signal brought back as a copy service as well.

                Going with MAM is good but:
                -: Consider where the MAM is located (Existing sub's shave already screamed loud and Clear South Africa Regulatory system isn't where they want their money. (These are your "Trusted and Loyal existing Client base" , A new sub at this website who has No trust or loyalty with this site will have even less interest.


                There has to be a better way to increase your revenue and not killing this site. (Have some patience you and your team at forexsignals.com have done a great job. Best not make rash decisions.
                Respect 👍👍👍
                I would second this ... when i visited another site with really good traders ( not mentioning it here ) .. i loved their system and my only concern was that they provide mamm only through this south african regulated broker .. i didnt comment. . I just left silently .. but because i have been loyal customer here for years i shouted out loud ..
                I believe 100s would just get in see the mamm in a broker they dont trust .. will just click on the close window button of their browser ....
                Like i did with other sites ..
                This is not the direction where business will grow imo .. thanks

                Sent from my SM-G900H using Tapatalk

                Comment


                • #23
                  Originally posted by Vidster View Post
                  Nick, I got to admit your delivered message is a bit funny to me. In video you mentioned people don't get what they expect when they come to forexsignal.com website.
                  Hmmm, what do they expect then? Isn't it clear in the name of domain? I am 100% sure they get what they expect.
                  They are not coming onto bakingsoda.com or powerflower.com and expect forex signals. They come to forexsignals.com and probably expect forex signals not recipies of how to make a meatloaf? Or do they really expect something else rather than forex signals??
                  Let me put it another way. If 1000 people walk into a shop and only one person buys what you're selling, then something is wrong, people aren't getting what they expected when they walked in. This is exactly what's happening on ForexSignals.com, it's not my opinion, it's fact.

                  Originally posted by Vidster View Post
                  I believe you should be honest and admit you believe in this traders and you know 30% of performance is a lot more than $70 per average subscriber.
                  Why aren't you doing the same with SimpleTrader traders? Because $60 per subscriber without any risk on your side is more than 0% of performance fee if traders fail.

                  Basically you are moving "best" traders to MAMs due to your other reasons as written above and leaving ST traders to generate income without your risk involved.
                  We make $15 per subscriber on SimpleTrader and in return we run a huge bank of servers and have a team of support staff working around the clock. If we forced everyone into a MAM structure we wouldn't need to rent the servers or offer such intensive support. We'd also likely make a lot more money, so this argument doesn't hold water.

                  Originally posted by Vidster View Post
                  Don't get offended with my message but you won't be able to convince me that I'm wrong.
                  I'm not offended.

                  Originally posted by Vidster View Post
                  You had very bad traders and bad situations in the past years on ForexSignals.com, however people were still paying for subscriptions and supporting your project nonetheless to what happened. But now you are saying to them "screw you" we are taking advantage of really good traders at this point and moving into more lucrative direction.
                  You will do whatever you want but with respect of what I've just written I believe you should think about everything again.
                  Who am I screwing? Nothing is changing for you guys! This is for NEW clients only.... how many times do I need to say this?

                  If anything I'm looking after our mutual interest, because I'm not going to keep running a site that gradually declines into oblivion. If you want to keep your signal subscriptions then we need to adapt to the changing industry, and as I've demonstrated, signals as a product are gradually dying. The alternative would be to shut this entire site down, sell the domain and offer our traders exclusively on ThinkHugeInvestments.com.

                  Originally posted by Vidster View Post
                  Perhaps you might think about something else too. I have some funds invested with Viper and am planning to withdraw soon because I have zero ability to interact. By subscription I can do free decisions when I see trader has gone wrong way.
                  Your decision at the end but think again. Thanks for reading my message.
                  By all means, but I will say the success rate of clients who have intervened on Viper's trades over the past 3 years is pretty slim.
                  Click here to check out the most popular forex channel on YouTube

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                  • #24
                    I appreciate everyone's feedback here, I suppose on reflection I shouldn't be surprised about the negative comments regarding the removal of signals for new clients, considering you guys are the ones that use them.

                    The MAM's/Signals are going to be a much smaller part of the site moving forward. The goal is to create a community of traders inside an interactive trading room and if people decide they want to copy what we're doing the MAM option is there, but it's certainly not going to be the focus like the trade copier signals are with the current site.

                    If you don't have any interest in trading yourself I can see why this idea isn't particularly exciting, but what you might not realise is that 90% of retail traders prefer to trade themselves, the remaining 10% is comprised of clients using managed accounts and automated signal services like us.

                    Right now we've got a site that attracts a huge number of retail traders that are looking for help with their own trading, but doesn't deliver.
                    Click here to check out the most popular forex channel on YouTube

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                    • #25
                      Hi Nick, my only request for your new change is that you can extend this deadline to 1 July or 1 June?

                      This is a big change and the new change is only 15 days from now. Will be nice for you to extend it maybe for 1 or 2 more months?

                      Comment


                      • #26
                        Originally posted by Pie View Post
                        Hi Nick, my only request for your new change is that you can extend this deadline to 1 July or 1 June?

                        This is a big change and the new change is only 15 days from now. Will be nice for you to extend it maybe for 1 or 2 more months?
                        No problems.

                        Goldstar will no longer be available from the end of April with the rest of the changes hopefully rolling out around the start of June.
                        Click here to check out the most popular forex channel on YouTube

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                        • #27
                          Originally posted by Nick View Post
                          No problems.

                          Goldstar will no longer be available from the end of April with the rest of the changes hopefully rolling out around the start of June.
                          Appreciate that. So from example 1 July, no one can get new signal anymore? How about those not under you? They will go MAM also?

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                          • #28
                            Just to confirm if we sign up before the deadline for signal, we can continue forever right? You will never close the Copier right?

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                            • #29
                              Originally posted by Pie View Post
                              Just to confirm if we sign up before the deadline for signal, we can continue forever right? You will never close the Copier right?
                              We've got no plans to close the copier for existing clients. I never say never, but it's not likely and certainly not within the next year or two.
                              Click here to check out the most popular forex channel on YouTube

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                              • #30
                                Nick I think you are in danger of throwing the baby out with the bathwater. I take your point regarding the Signals side of the business stagnating, however I think if you were to address the issues regarding getting up and running as a new subscriber you would see an upturn in clients.
                                I have been using the signals service for 2 years now and run multiple accounts on your VPS service. It took me months to realise the interrelationship between the sites, Connect Forex, Forex Signals and VPS.Net and if it had not been for your the hard work and help of your support team I would have also walked away without subscribing.

                                Have you ever sat down with a newbie prospective client and tried to see how difficult the process is to get up and running. You could make it a much more seamless and pain free procedure if you applied some simple improvements.

                                I have friends who were also interested in Forex but when presented with the complications of getting it all together and making it work they just abandoned the concept as too complicated, so yes for some people the MAM is an ideal solution but think that you should have tackled the fundamental problems with the complications of the signals side a long time ago which might have avoided the radical proposals now being implemented/proposed.

                                MQL5 signals in particular suffers from the same if not much worse problems and am not surprised they have very few subscribers, it is an unreliable and badly explained system which results in blown accounts time after time.

                                I hope you enable us existing subscribers to carry on as usual but wonder what is going to happen with Goldstar which I use, is it going to continue to be available? Also can I continue to subscribe and unsubscribe to signals as I open new accounts or am I going to be limited to what I have now?
                                The Mt. Cook broker does not look a good option and I would not be putting money in a South African regulated broker as I prefer to select my own.

                                My hope is I shall be able to continue as at present with you as I have always had great respect for your honesty and integrity in an industry full of scams and sharp practice. I have invested time and money in your business and hope to continue the relationship for a long time to come.

                                Best regards Steve

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