Forex GDP is a signal provider that uses chart analysis and technical reasoning to ensure successful trades. As a believer in quality signal generation instead of quantity, this company offers subscription plans and a free trial offer for its clients.
Founded in 2015, this company focuses on providing different Forex solutions including education courses, expert analysis, and other Forex-related services.
Location information is not provided on the site and customer support options include an online contact form and a Skype ID besides the FAQ section. The company mainly focuses on signal generation and does not have any other trading products.
Forex GDP Review
You can find several services offering Forex signals with the promise of providing profitable results. But not all such services are legitimate. Forex GDP guarantees the best trades for its users with a winning rate of 80 to 95%.
In this review, we evaluate the features, results, and other aspects of this company and provide you with our recommendation. Signals for this service are generated by a team with more than 20 years of experience. Since its inception in 2015, the provider has focused on offering the best trade setup for its clients. But how profitable are the signals generated by Forex GDP? Let’s take a look.
What is behind the Forex GDP Service?
Complete technical chart analysis is provided with every signal from this provider. The analysis helps traders to confidently execute the trades. By sharing the trading approach for the signals, even novice traders will be able to understand and make successful trades.
To make use of this provider, you need to register with them which is free. Once you have registered, you will receive the free signals which you can use on your broker account. Free service comes with market analysis, trade concepts, educational courses in Forex, and more. Email support is also provided.
Besides the free signals, the vendor recommends the use of any account balance amount provided the money management is done as per the size of the account. For instance, the vendor recommends using a lot size of 0.05 for a balance of 1000 USD. The SL value ranges from 10 up to 100 pips and the TP value ranges from 30 pips up to 600 pips maximum. A risk to reward ratio range of 1:1 up 1:5 is present for the signals.
While the vendor mentions that the trading approach used is vital to assess the reliability and performance of a service, there is no mention of the strategy used. Other than mentioning technical analysis, trading concepts, and market insights, there is no clear explanation of the approach used by the vendor. Backtests are not provided which is disappointing as the strategy tester reports help you gain a better insight into the performance and profitability of the provider.
A free trial is present that includes 2 to 4 signals, basic entry, and exit setup, trade concepts, broker compatibility, WhatsApp signal reception, signals that have info on the entry, SL, and TP. The paid service includes two different packages – Premium and Supreme. These two packages provide accurate signals that range from 8 up to 14 for the Premium and 16 up to 25 for the Supreme plan.
The cost of the plans starts from $36 per month for the annual plan up to $74 per month for the one-month subscription plan under the Premium package. For the Supreme package, the range starts from $54 per month annually up to 147 per month for the one-month plan. A money-back guarantee is not offered by this vendor which makes us suspect that it is not a reliable service.
Trading Performance of Forex GDP
The official site has a dedicated results section where various trade examples are provided with the number of pips accumulated for the trades. Here are a few of the images.
While the above images give an impressive performance history, we prefer real account trading results verified by sites like myfxbook, FXBlue, etc. The reason we choose such sites is that they offer genuine results with comprehensive trading details. We will be able to know about important stats like the profit percentage, drawdown, lot size, profit factor, and more.
The support offered for clients is an important deciding factor for the efficacy of an FX tool. This service fails to meet this criterion as the support options provided include just an online contact form and a Skype ID. An FAQ section is present but has very minimal info related to the service.
User reviews for this company are found on the Trustpilot site. Of the 102 reviews, 82% are positive with an overall rating of 4.6/5. Here are a few of the testimonials:
From the user response, we find that the signals are accurate and provide good profits.