WeTalkTrade is a company that focuses on providing Forex signals. The developers have a debatable reputation among the traders community. The presentation includes a claim that it’s a “Free Live Forex Signals App.” They mentioned that they got together in 2009. Forex Peace Army has their page created in 2014.
The owners shared two packages. The free pack includes an all asset class, no copy trading, instant notification alerts, average success rate, and limited support. The premium pack costs $79.99 a month. There are signals for all assets, copy-trading software, alerts, higher accuracy, and 24/7 live support.
We have grouped all information that looks like something viable for making the final decision about the system in the list below.
- The system behind this service generates signals for all cross pairs and other trading instruments.
- We can expect that our orders will be protected by SL and TP levels.
- We can use them on MT4 and MT5 platforms.
- Executing orders will be automatic.
- The win rate should be over 80%.
- The system is easy to use.
- “The UI is very elegant and simple that can be easily understood and used by any Trader.”
- We can learn how to trade Forex from those signals.
- The signals were delivered with proper explanations.
- “We can easily check between the currently active and the most recently closed signals.”
- There’s intel from an economic calendar provided.
- We can give those signals a try on a demo account.
- The copy trading software will be delivered either.
- We can decide what risks we can handle.
- The devs don’t provide more intel especially about strategies.
WeTalkTrade trading approach
- The robot can spot trading opportunities.
- It calculates lot sizes, SL and TP levels.
- The copy trading system copied the signal to our terminal.
- It takes into account our desirable risks.
- The order is placed on the market.
- It will be closed automatically for us.
We have no backtest reports provided about the system and what results it could achieve on each cross pair. The final report would show us that the system was profitable and that all pairs are well-tested. If we have no reports, this looks suspicious because every developer usually does them.
WeTalkTrade live trading results
There’s a system behind the signals mentioned but the developers decided not to share a link on verified trading results. It’s a huge con because we don’t know if the signals make profit on the real market. If the data could be verified by Myfxbook or Fxblue, we would be able to check all charts, tables, and diagrams that would make everything clear.
What are the risks with WeTalkTrade?
The risks are truly high because we have no idea what’s going on in the real market with the signals that are provided by WeTalkTrade. The devs couldn’t convince us that we are safe and sound with the signals.
The company has a profile on Forex Peace Army deployed in 2014. There are 36 reviews with a 3.195 rate.
Many testimonials claimed that the service isn’t profitable and signals are dangerous.
What are the pros & cons of investing in WeTalkTrade?
|Acceptable pricing||No team revealed|
|No strategy explanations|
|No risk or money-management advice given|
|No backtest reports provided|
|No pips counter applied|
|No trading results shown|
|No free signals available|
|Many negative reviews on FPA|
WeTalkTrade is a trading company that provides signals for traders. The presentation and the developer couldn’t prove that the signals are profitable, that its win rate is high, and that we are safe with the service.