WeTalkTrade is a Forex signal provider that, according to the developers, helps traders to predict the market movement and to confirm their very own predictions. The company has a debatable reputation because they have never provided us with trading results and there are many negative testimonials on Forex Peace Army written. The only claim is “Free Live Forex Signals App.”
The service was created in 2014 but developers started thinking about it in 2009. We have decided to write a detailed WeTalkTrade review because we have received many emails from traders interested in investing in this Forex system.
What is behind WeTalkTrade?
The presentation includes various information about the system and how we can use signals.
- There’s money-management that covers orders with proper SL and TP levels.
- We can be connected with the service via MT4 and MT5 platforms.
- All deals will be proceeded and executed automatically.
- “The UI is very elegant and simple that can be easily understood and used by any Trader.”
- The signals can help us with better understanding of Forex.
- All signals have proper details and explanations why they were generated.
- “We can easily check between the currently active and the most recently closed signals.”
- We have information provided from an economic calendar with explanations.
- We have to check the signals on a demo account first before going live.
- The signals can be provided for all cross pairs and other financial instruments like commodities, indices, and so on.
- The signals include SL and TP levels.
- The system allows us to customize risks well.
- An average win rate is over 80%.
- The time frame can be any.
We don’t know the strategy details. So,it can be price action, trend, or any other. The presentation doesn’t include any sign of backtest reports. It’s a huge disadvantage because we don’t know how well the system was tested and what results we can expect to receive on our accounts. At the same time, it’s important to know with what broker those signals work the best.
The service has an offer of two packages. We can follow the Basic pack for free all the time. There are all asset classes, no copy trading, instant notification alerts, average success rate, and limited support. The premium pack can be purchased for $79.99 every month. It’s 1.5-2 times more expensive than the similar services on MQL5. There are signals for all assets, hassle-free copy trading software, instant notification alerts, higher accuracy, and 24/7 live support.
Trading performance of WeTalkTrade
The developers not only decided to skip sharing backtests but also trading results. It’s unprofessional for a copy-trading service not to show from what account these signals will be copied from. Usually, we can check verified by Myfxbook or Fxblue trading results to be sure that the system is profitable and work safe.
The devs provide average support within 5-8 hours during work days. It’s not the best time, but it’s not the worst either.
There’s a profile of the WeTalkTrade company on Forex Peace Army. It was created 8 years ago. There were 36 reviews with a 3.195 rate published. This profile got various warnings from FPA. Also, there’s no trading account connected either.
Clients mentioned that those signals aren’t that good. Both posts were from registered users.