Hi everyone. I’ve got some news related to the forex “trading signals marketplace” industry. Apparently the forex trading signals marketplace “Rent a Signal” has decided to close its business operations. Rent a Signal worked pretty much like ZuluTrade. I’ve tried to use them in the past but never got around to actually funding an account and checking out the signal providers they offer. This means that there are only 2 of these forex trading signal marketplaces left on the net – as far as I know. Those two are Zulutrade and Collective2.
Here is a copy of their press release/mailing list notice:
Dear Rent a Signal user ,
Since 2007, Rent a Signal is proud of providing with its services to thousands of clients around the globe. However, it is the time to focus on the rest of the services provided by the firm who owns Rent a Signal and accordingly, it was decided to discontinue the Rent a Signal’s operations in October 2012.
In order to ensure an ordered disconnection of its services with regards your Broker trading account, Rent a Signal will be disconnected according to the following calendar:
– October 14, 2012: your account on Rent a Signal will no longer receive any new incoming trades from any Signal, even if you are still subscribed to them. That means that your Broker trading account will only receive changes made by the Signal Providers with regards the trades opened before October 14, 2012.
– October 21, 2012: the Rent a Signal Platform will be disconnected completely from the Signal Providers. This means that, if you have any open trade into your Broker trading account, you will need to manage it manually, through your RAS account or your Broker trading account.
– October 28, 2012: the Rent a Signal website will be completely disconnected. Accordingly, any open trade on your Broker trading account, must be managed by you directly and only through your Broker Trading Platform.
In order to avoid any misunderstanding, we would like to stress that any open trade that you may have on your Broker trading account, must be managed manually by you from October 21 on. Note that Rent a Signal will not receive/send communications automatically from October 20 on. In the case of any discrepancy between the information on your Broker Trading account and the information of your Rent a Signal account, the information of your Broker Trading account must prevail.
We would like to take the opportunity to thank you all your confidence.Sincerely,
The Rent a Signal team
Happy trading everyone!
Alan
I always thought that companies as small as this one would not stay for long , they are beeing overshadowed by large companies like zulutrade and until someone will find something super inovative things will stay the same.
Yep, I agree with you. At least Collective2 is trying to be a bit different and offer stock as well as option trading signal provider. Whether that’s enough of an innovation to compete with the zulutrade juggernaut it remains to be seen. I kind of doubt it as what is to stop zulutrade from offering stock and options signals as well. Nothing, that’s what.