WeTalkTrade provides live Forex signals for traders. Users who invest in the service are advised to copy the signals on their MT4/5 accounts and walk away. They will then be implemented instantly on the trading account.
WeTalkTrade is a company that produces Forex trading indicators and signals. It was established in 2009 but didn’t begin generating these tools right away. Rather, the devs started off by researching different strategies before they developed their own. Years later, they began selling their products commercially, though some of the signal services are free. Unfortunately, we are not introduced to the company owners or the other team members.
WeTalkTrade at a glance
|Currency pairs||EUR pairs, USD pairs, and all other major pairs|
The other features of the service can be found here:
- It can trade currencies, cryptocurrencies, commodities, and indices
- Push notification alerts are available
- Comes with an economic calendar
- There is no fixed time zone or interval for posting the signals
- You can get 4-6 signals per day
- Includes SL and TP levels
- Customer service is provided
WeTalkTrade trading strategy and tests
The team behind this service doesn’t say what strategy it uses to assess the market for signals. We believe traders, especially experienced ones, would like to understand what criteria the team uses to pick some signals and leave out others.
Backtesting results are not available either. This doesn’t come as a surprise. Without a clear trading method, it is impossible for the vendor to conduct a backtest. Subsequently, the Forex community cannot gauge the profits and risks these signals produce.
What about WeTalkTrade live trading results
More disappointment awaits traders who would want to assess the live performance of the service before using it. This is because the trading results are absent. We expected to find this data on Myfxbook, given that the signals supposedly produce a win rate of 80%. Much to our shock, the professionals haven’t posted any trading stats on Myfxbook despite opening an account with it in 2016.
We found a few recent reviews for the signal service on Trustpilot, and unfortunately, none of the customers have anything good to say about it. One of the clients used their signals for 2 years, and they were fine before she stopped her subscription. So, the main problem is that the company deducted money from her account despite terminating her membership. The other trader is frustrated about the service’s low win rate and the lack of a strategy. Notably, more than two reviews are needed to get a feel of the general customer experience.
WeTalkTrade Review SummaryWeTalkTrade
Functionality4/5 GoodThe characteristics of the service are featured in the sales pitch and explained.
Trading strategy2/5 BadThe vendor doesn’t mention what trading technique they rely on to generate signals.
Live results2/5 BadNo live trading results are provided, so it’s hard to determine how the signals perform in the live market before you use them.
Customer support4/5 GoodThere are various customer support options, including a live chat, email, and FAQs.
User reviews2/5 BadThe reviews available are not sufficient to determine whether traders are satisfied with the service or not.
- Free signals offered
- Can be traded on various instruments
- Provides push notification alerts
- Trading strategy undisclosed
- No live trading results
- Lack of a backtest report
- Insufficient user reviews