MYC Signals claims to be an industry-leading service offering a diverse range of services. The traders’ team of this company focus on generating consistent and passive income. Besides its trade alerts, the company also offers extensive education and training for newbie traders. We could not find info on the company like the founding year, location address, phone number, etc. The lack of vendor transparency makes us suspect this is an unreliable company.
MYC Signals overview
Some of the key characteristics that the company focuses on are:
- Generation of 50 to 70 trading signals every month
- Consistent results provided by the real trading team which has more than four years of experience, having been in the field since 2017
- A full-time 24/7 customer support
- Fully automated trading
- Three different products to choose from according to your style of trading.
The company boasts over 900 premium members and more than 34000 community members. To use the services, you need to first choose from the premium packages and pay using fiat money or cryptocurrency. Once you have completed the payment, you will receive the trade alerts, which you can follow manually or automatically. With the trading tips and alerts the vendor promises better trading and higher profits.
The idea behind MYC Signals
As per the vendor info, this company was founded by a team of professionals skilled in Forex and cryptocurrency trading. A combination of technical analysis and macroeconomic monitoring is the main concept used for predicting market movements. On average, the team reviews numerous signal setups to handpick a few profitable ones.
Other than the mention of the team members having experience in FX and crypto trading, the vendor does not provide much info about the team. We could not find the experience, expertise, and other credentials of the individual members. The lack of info raises suspicion on the dependability of this company.
Safety of MYC Signals and the network
As with other aspects of the company, we could not find info related to the safety and security measures present. Without adequate security methods, users will not feel safe making the transactions whether it is via crypto or fiat currency. The absence of security details raises a red flag for this provider.
As per the vendor, any exchange can be used with the service except for the BTC Futures where you need to use a Futures exchange. The signals can be followed automatedly via exchanges like Bybit, BitMex, and a few others. For the spot signals, Bittrex, Kucoin, are among the four compatible exchanges. The vendor recommends using Binance especially for spot trading of BTC and Altcoin combos.
Pricing plans are based on the risk level and the trading approach you prefer. The BTC-Only spot costs $60 for one month. It includes features like swing trading on long positions with a maximum of 2 signals per week and without leverage.
For signals that cover Altcoins and BTC, the cost is $120 for one month. The features included are swing trading with unleveraged long positions and up to 5 signals per week. For advanced and intermediate level traders, the $150 per month BTC Futures plan offers features like day trading, up to 125 x leverage, and a maximum of 5 long- and short-term signals.
Compared to other competitor sites, the pricing is very expensive. With the vendor showing a lack of transparency concerning the strategy, results, and other aspects of the service, we feel the company is not worth the money.
We could not find user reviews for this company on trusted third-party sites like Trustpilot. The lack of feedback from users indicates this is not a popular platform for crypto traders.
Is MYC Signals a legit investment service?
Our analysis of the features, functionality, performance and other characteristics reveals this is not a legit service.
Our verdictOur verdict
- Automated and manual trading options
- 30 signals per month
- No proven track record
- Lack of vendor transparency
- Expensive pricing plans