WeTalkTrade has been providing trading signals for the Forex market for a while now. One of the main claims about these signals is that they can attain a win rate of 80%. The vendor also says their platform can be used for learning about the Forex market.
WeTalkTrade is a US-based company that has been providing Forex products and services for over a decade. The team states it began conducting researches on trading strategies way back in 2009 before they ventured into creating indicators and supplying trading signals years later. That’s as far as the company description goes. The identity of the team members remains hidden.
How WeTalkTrade works
The company offers the following:
- Push notification alerts that enable you to remain updated only on your preferred currency pairs
- An economic calendar to view different economic releases of different countries and their impact on currency pairs
- Signals that get executed immediately on your account
- All services are normally up and running for 24 hours on all 5 market days
- There is no fixed time zone or interval for posting signals. Each time a new opportunity arises, a new signal post is provided
- On average, 4 to 6 signals are sent daily
- The service comes with precise TP and SL levels
Timeframe, currency pairs, deposit
The company says it offers precise signals on all currency pairs, but most cover the EUR, USD pairs, and all the other major pairs. Info on the timeframe used and the deposit required to trade is missing.
The vendor is not transparent about the strategy they apply. We would like to know what technique they use to establish whether they will pick a signal with a buy/sell order. How do they know a certain signal is profitable and another one is not? And how does the team set the SL and TP levels? These are just some of the questions we feel the vendor should answer to provide insight into their strategy.
Pricing and refund
WeTalkTrade offers you 2 different pricing options. You can opt to try the basic pack that is free of charge. It will allow you to access free signals for a lifetime. However, feature wise, accessing high precise premium signals won’t be possible. The premium offer, which is $79.99, holds more precise signals and provides hassle-free copy trading. All the other features are pretty much similar for both free and premium users. The company notes that it doesn’t offer any refunds.
No backtest results are available. It is unfortunate that WeTalkTrade has downplayed this test. Going forward, the company should strive to ensure that its strategies work well before asking traders to commit their capital, and what better way than to backtest them?
Live performance results are also missing. WeTalkTrade has a registered account on Myfxbook, but there is no data in it. This is a major blow to prospective clients who would want to confirm if the vendor’s promotional claims are true or false.
People say that WeTalkTrade is…
The company has a page on Trustpilot, and many customers have commented about its products and services. We noted that most traders provide their opinion on one of the company’s indicators (Pipbreaker). Though we found a few reviews on the signals service, most of them were written way back in 2017 and 2018. So, we can only look at the most recent one, which indicates that the service has a 42% win rate. Even then, we need more current reviews to assess customer experience.
|A free trial is present||Trading strategy is not disclosed|
|Push notification alerts are available||Costly pricing|
|Lack of past and current performance results|
WeTalkTrade offers a free trial period and push notifications, which can be beneficial for traders. However, information regarding the strategy and the trading stats is not presented. Therefore, it is advisable to use the free service first and assess how the signals perform before committing real money.