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Signals Reviews

SignalSamurai Review – is it scam or safe binary options robot?

Aug 24 2017
By
Jonathan Smith

SignalSamurai is a binary options system, which claims to make money for the people who follow its signals. It comes absolutely free of charge, which immediately sounds fishy. In this review will give our honest assessment of the system.

 

Who is behind the SignalSamurai?

 

The Signal Samurai was allegedly created by Kinjo Oda, a former Japanese stock broker. We couldn’t find any information of the existence of such an individual. Had he truly been a successful stock broker, who has decided to start a new project, he would have surely wanted some PR – an interview with CNBC or Bloomberg, for instance. His very name sounds generic. In fact the use of a popular historic clan as his family name almost makes it funny.

 

A quick check on the domain, at which this system is being offered, reveals a Luxembourg-based owner. While the rest of the information is mostly hidden, we suspect there is little connection to Japan or the Tokyo Stock Exchange.

 

Strategy 

 

There are three strategies behind the SignalSamurai:

 

1)The Shumu which is available to all members and allegedly “determines supply and demand levels”;

 

2)The Koudo, which is available to “Apprentice VIP” users and is supposed to be based on Fibonacci numbers, 

 

3)The Ankyo, again only for Apprentice VIPs and being trend-following. 

 

First of all, the title of “Apprentice VIP” sounds like an oxymoron. Besides that, the strategies are all traditional ones, offered by other similar systems. They aren’t anything special or exciting and will probably not work out in the long run. We were expecting something with a Japanese theme, like Ichimoku-based trading or at least Hiken-Ashi or Renko candles. Here is what the system’s dashboard looks like (click to zoom-in):

 

 

At least some risk-management controls are present, which will prevent the system from blowing-up your entire investment.

 

Historical Performance

 

The SignalSamurai does not have any historical record. While some binary options systems do provide a list of recent trades, they can often times be hard to verify or simply fake. By the way, this consistent problem with binary options systems has been dealt with in the world of social trading. For instance, eToro, the world’s largest social trading network keeps the track record of all its traders, as time moves forward. Here is a snapshot of the results of one of the most popular traders there:

 

 

As you can see he has had winning month, loosing months and he even took a break from trading in the beginning of 2016. Would you trust a portion of your money to this trader, given his past performance? If so, or you would like to browse the results of other similar ones, feel free to register an account with eToro and explore the possibilities.

 

What are the estimated returns?

 

The SignalSamurai does not provide estimations of the returns it will generate. Some binary systems have absurd claims which you may have seen, like a “94% accuracy of predictions” or “3,543% per month”. These levels are so high they are hilarious. If a system could make such returns it would have been run by Goldman Sachs or a major hedgefund, in fact its developers could have bought-out Goldman Sachs in several years.  Still, the fact the SignalSamurai doesn’t not make such claims does not make it a credible strategy.

 

How does the SignalSamurai make money? 

 

As we mentioned above, the SignalSamuray comes free of charge. At this point you may be asking yourself “where’s the catch?”. The catch is, that the system providers make money, as a commission payed by the binary broker you register with.  This business model is not that uncommon in the world of binary option robots. 

 

You can easily recognise such a scheme if it fulfills two criteria:

 

a) it is absolutely free;

b) the providers of the robot, offer you one (or a few) brokers with which it works. 

 

While the website claims the system is free due to the “Bushido code of honor” and that “this is Kinjo Oda’s way of giving back to the world that made him so successful.”, in reality the people behind this project are making money on every deposit somebody makes to their broker of choice which is BinaryOnline. 

 

You can read our full review of BinaryOnline here. In essence they are an unregulated binary options provider. The lack of regulation always carries significant risks, the most important of which is that the company will refuse to pay you any winnings you have (or your initial investment). 

 

For those of you who don’t know, financial regulation provides traders with some sort of protection. For instance, some binary options brokers are regulated by CySEC, which grants a significant level of security. They enforce the principle of segregated accounts – a broker can’t freely access its clients’ funds. Additionally all companies must participate in the compensation scheme. This is a collective pool, to which participating brokers must periodically contribute. The funds are later used as a guarantee against one of the brokers going bankrupt. If you trade with a CySEC regulated forex or binary options broker, you will have coverage up to €20,000.

 

The bottom line 

 

At the end of the day, the SignalSamurai isn’t anything special. Such systems are fairly popular and represent only a way of attracting new customers to the partnering binary broker. While the SignalSamurai doesn’t announce any unrealistic claims, it still doesn’t prove it works, before you deposit funds with its partners. A ritual “sepuko” of your trading funds will be the most likely end if you choose to follow the SignalSamurai way. Here is a summary of this system:

 

Pros Cons
Some form of risk management (not ideal) No-regulation (including partnering broker)
No wild claims about trading results or accuracy No historical performance
  Only one broker to trade with
  The story about Kinjo Oda seems fake

 

TAGS: signalsamurai  signalsamurai robot  signalsamurai binary  signalsamurai binary options  signalsamurai binary options robot  signalsamurai review  signalsamurai scam  signalsamurai binary options robot scam 
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

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