Expert AdvisorsForex

WeTalkTrade Review: Things You Need to Know Before Investing

2 Mins read
6.3

WeTalkTrade provides a learning platform for FX traders. The signal service helps to provide accurate market predictions with its efficient services. Live trade alerts, instant notifications, and an economic calendar are part of the features the company provides. As per the vendor, both newbies and seasoned traders will find the info valuable.

WeTalkTrade trading strategy

There is no info present on the approach used. Other than mentioning that the signals have an 80% accuracy, the vendor does not reveal details about the method used for generating the alerts. The absence of info makes it difficult to understand the strategy.

WeTalkTrade backtesting report

The vendor fails to provide backtesting results for the service. It is true that you cannot predict future performance with the info. The reason is that the tests are based on historical data and not real-time data. However, backtesting is a vital tool for assessing the viability of the strategy. The absence of backtesting info further raises doubts concerning the dependability of the service.

WeTalkTrade live results

Unfortunately, the vendor does not provide real trading results. We prefer real-time trading info verified by third-party sites like myfxbook, FXBLue, and FXStat. The verified results have all the required info needed to assess the performance and trading approach that system uses. 

Some features of WeTalkTrade

Some of the key features that the vendor focuses on for this service are:

  • It works on all types of assets like metals, indices, crypto, and currencies. 
  • The signals have accurate TP and SL positions.
  • Using the copy trading feature, you can have the signals executed quickly and automatically.
  • An accuracy of 80% is assured by the vendor.
  • The user interface is easy to navigate.

There are no details related to the currency pairs, recommended deposit, leverage, brokers, timeframe, etc.

Total returnN/A
Maximal drawdown N/A
Average monthly gain N/A
DeveloperWeTalkTrade
Createdyear2009
Price$79.99
TypeSignals
TimeframeN/A
Lot sizeN/A
LeverageN/A
Minimum depositN/A
Recommended depositN/A
Recommended brokersN/A
Currency pairsN/A
ECNN/A

Main things to consider if you invest with WeTalkTrade

If you are interested in this service, then you need to pay attention to:

Live and instant alerts

The vendor provides precise info on the signals for free. You can verify the active and the closed signals. Push notifications are used for sending the alerts to avoid the hassle of opening the app to find the notifications. The vendor also offers the option to choose notifications only for the currency pairs you want info on.

No strategy info

We could not find details on the strategy the company uses for generating the trading info. Further, there are no backtesting reports to check the efficacy of the approach.

 Absence of live verified trading results

The vendor fails to provide verified live trading stats. Without the presence of a verified track record, it is not possible to rely on a service. The reason is that the trading stats help to understand the risks present and the profits you can generate using the FX tool.

Pricing details

A basic package is present which is free. The package includes trading capability on all asset classes, instant alerts, an average win rate, and limited support. With the Premium package, you need to pay $79.99 per month. You get all the features in the free plan with additional features like copy trading, 24/7 support, and a high win rate. There is no money-back guarantee present.

Other notes

Spam complaint by Forexpeacearmy on WeTalkTrade
Spam complaint by Forexpeacearmy on WeTalkTrade

We found 36 reviews for the company on the FPA site with a rating of 3.272. As per the info on the site, there are complaints about the company for using spam instead of authentic methods to promote their services. Here is a screenshot of the user feedback.

User review for WeTalkTrade on the Forexpeacearmy site
User review for WeTalkTrade on the Forexpeacearmy site

From the above review, we can see the user has suffered more losses than wins. The user complains that the 80%-win rate claimed by the company is not true.

WeTalkTrade Summary

6.3
WeTalkTrade offers live and effective FX alerts that have a high percentage of accuracy. Our analysis reveals that while the company provides a free basic plan, there are several downsides to consider. The expensive subscription plans and absence of a verified proof are shortcomings we found in this service.
6.0

Functionality

5.0

Reliability

8.0

Strategy

8.0

Price

6.0

Trading Results

5.0

Vendor Transparency

Pros

  • +Offers free basic package
  • +Economic calendar

Cons

  • -No strategy info present
  • -Lack of verified trading results
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