Raymond Gilmour said after saving countless lives, he was living in fear of assassination.
The supergrass, who now lives in south-east England, was the only witness in a trial of 35 IRA and INLA suspects which collapsed in 1984.
The Investigatory Powers Tribunal examines complaints against the intelligence services.
It has not given reasons for its decision.
Mr Gilmour, who is from Londonderry, has lived under a false identity for 30 years.
He claimed his MI5 handlers promised him Â£500,000, a new home, psychiatric support and a pension.
However, he said he was provided with modest accommodation and Â£600 a month for three years and was not provided with employment.
He also said his false identity did not stand up to scrutiny.
He said he had suffered from alcoholism and post-traumatic stress disorder (PTSD) as a result of his work and had been left destitute.
In a letter to Mr Gilmour, the assistant tribunal secretary said: "The tribunal is only permitted to inform such a complainant that no determination has been made in his favour.
"The tribunal is not permitted to give any reasons for its determination."
Mr Gilmour said: "I'm absolutely disgusted. I don't think they've spoken to the proper people or the proper authorities.
"I can't understand how they came to the decision.
"It reminds me of a kangaroo court with the IRA. It's like the security services are investigating themselves."
Earlier, Mr Gilmour said he joined the Irish National Liberation Army (INLA) in 1976, at the age of 17, as a Royal Ulster Constabulary (RUC) special branch agent.
He said he then moved to the IRA in 1980 before his cover was blown two years later when police used information he supplied to recover a machine gun.
"I brought the INLA to their knees in Derry, I brought the IRA to their knees in Derry and I saved countless lives," he said.
Speaking after receiving the tribunal's ruling, he said: "I was just asking for what I was promised, nothing else."
The case of an IRA informer who claimed he was abandoned by his MI5 handlers has been rejected by a tribunal.