DDMarkets claims to be one of the best FX signal providers in 2021. Founded in 2014, the company focuses on delivering everyday updates and the trading method with its signals. It uses email to send alerts. As per the vendor info, an analysis of the market is also provided to enhance the decision-making process of customers. Crypto signals are also part of the facilities the company provides.
According to vendor info, the company has a seven-year track record and is used by new and expert traders. In this review, we have evaluated the various aspects of this company to find out whether the claims are true or not. As per the vendor, the company assesses the prevailing market environment and chooses the apt method for a particular monetary tool. A detailed explanation is present, which helps users know how they work and help them hone their trading skills.
What is behind the DDMarkets?
The vendor assures dependable and precise info that is apt for all types of traders. SL, TP, and entry price are basic components in all alerts. Additional info that the vendor provides includes the calculated length and approach. The team members of the company conduct detailed market research using diverse approaches and collect possible entries and analyze them using technical analysis. After finding the optimal trade, the alerts are issued through email.
As key features, the vendor mentions its trading plans, signal structure, and trade performance. Day trading and swing trading are focused on by the vendor. Charts for the alerts are mostly weekly or daily charts. Extended time frames are used to ensure decent pips based on the fluctuation in the value of the currency pair. The vendor does not provide info on the currency pairs it supports, the recommended deposit, leverage, and other related info.
Although the vendor mentions using appropriate strategies for analyzing and identifying accurate trades, there is no mention of the approach it uses. In spite of mentioning that the alerts are transparent, the vendor does not reveal the strategy info. This lack of transparency raises a red flag for this service. Furthermore, no backtests are present which is another factor that makes us suspect the reliability of this vendor.
Different packages are available for purchase for this service. For the 14-day Global Trade Alerts plan, you need to pay $59.90 with which you get access to all the trade alerts, regular updates, and secured payment. For the 30-day plan, you have to shell out $87.40 and the cost is $230.60 for the 90-day plan.
For the Intraday Strategies, the cost is $49.70 and $74.40 for the 14 and 30-day plans respectively. An advanced integration plan costing $138.70 per month is present, which is a 30-day plan that comes with tactics and alerts.
There are other plans for crypto, custom research, and more. We could not find a refund policy which makes us suspect the reliability of the service. Furthermore, the price is expensive when likened to the price that other similar providers charge.
Trading performance of DDMarkets
Trading results for each month starting from 2014 are provided under the trade performance section of the official site. The info includes the trading date, instrument, and the pips gained. We prefer trading performance verified by a third-party site like Myfxbook, FXBlue, etc. Results from such sites reveal info like the drawdown, risk-reward ratio, lot size, and much more. Without a verified track record, we suspect this is not a trustworthy service.
For customer support, the vendor offers an online contact form that users are instructed to use if their queries are not answered by the FAQ section. The lack of location address, phone number, and live chat feature further confirms our suspicion that this is an unreliable company.
We found 4 reviews for this company on the Forexpeacearmy site with a rating of 2.538/5. Here are a few of the user testimonials.
From the feedback, we can see that the company provides misleading info and has poor customer service. Further, as per the feedback, the user has suffered losses and mentions the lack of a verified reputation. The reviews corroborate our evaluation of the support and track record of the company.