WeTalkTrade Review

WeTalkTrade

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

PriceFree, $79.99
Trading platformsMT4/5
Currency pairsEUR pairs, USD pairs, and all other major pairs
StrategyN/A
TimeframeN/A
Recommended depositN/A
Recommended leverageN/A
Money managementN/A

WeTalkTrade functionality

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.  

User reviews

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. 

Customer reviews
Customer reviews

WeTalkTrade Review Summary

WeTalkTrade
3 5 0 1
These signals can be traded on different instruments of your choice, and the free package allows you to test their efficiency before investing in them. Sadly, the vendor fails to explain how they select the signals or even showcase the signals’ present and past trading data. Since user reviews are very few, we cannot figure out how customers generally feel about the service.
These signals can be traded on different instruments of your choice, and the free package allows you to test their efficiency before investing in them. Sadly, the vendor fails to explain how they select the signals or even showcase the signals’ present and past trading data. Since user reviews are very few, we cannot figure out how customers generally feel about the service.
3/5
Total Score
  • Functionality
    4/5 Good
    The characteristics of the service are featured in the sales pitch and explained.
  • Trading strategy
    2/5 Bad
    The vendor doesn’t mention what trading technique they rely on to generate signals.
  • Live results
    2/5 Bad
    No live trading results are provided, so it’s hard to determine how the signals perform in the live market before you use them.
  • Customer support
    4/5 Good
    There are various customer support options, including a live chat, email, and FAQs.
  • User reviews
    2/5 Bad
    The reviews available are not sufficient to determine whether traders are satisfied with the service or not.

The Good

  • Free signals offered
  • Can be traded on various instruments
  • Provides push notification alerts

The Bad

  • Trading strategy undisclosed
  • No live trading results
  • Lack of a backtest report
  • Insufficient user reviews
Total
0
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