WeTalkTrade is a company that mostly provides signals for Forex traders and investors. Since 2020, they have designed an application for smartphones. So, the main claim is “Free Live Forex Signals App.” The developers have united and started providing services in a period between 2009 and 2014. We know this from the site and a profile on Forex Peace Army.
The presentation has some details and settings explanations about what we have to expect from these signals and a system behind it.
- The system generates signals for all possible pairs and other financial instruments.
- Those signals have SL and TP levels applied.
- They can be traded on MT4 and MT5 platforms.
- We are able to execute them automatically.
- We can rely on the win rate of 80% or even higher.
- It’s an easy to use solution.
- “The UI is very elegant and simple that can be easily understood and used by any Trader.”
- The signals provide us with an opportunity to learn more about Forex.
- There are explanations of why those signals were generated.
- “We can easily check between the currently active and the most recently closed signals.”
- We can check everything in the economic calendar.
- The devs mentioned free signals for us to give them a try.
- There’s copy-trading software provided.
- We are in charge, so we can control risks that are suitable for us.
We have two packages on the board. The Basic pack is available for free. We can rely on alerts, solid success rate, and limited support. The premium pack is available for $79.99 a month. There are signals for all assets, copy-trading software, alerts, higher accuracy, and 24/7 live support.
How it works
- The system generates signals for us.
- Through copy trading software, it delivers signals to us.
- The software checks our risk settings then applies an order.
- This order is executed automatically from the start to the finish.
- We don’t know details about strategies.
- The devs claimed that we can work with all cross pairs.
- There is no info about the time frames the system works on.
The presentation doesn’t include backtest reports that would convince us that the robot was properly prepared and tested before setting it to generate signals. The final report can show us what win rate, risks, and profit factors the system had. Another important part is to understand what broker tick data was used.
Alas, the devs decided not to provide us with trading results verified by well-known sites like Myfxbook or FXBlue. It’s a huge con because we are not allowed to see from what master account those signals will be copied.
There’s a profile of the main company on Forex Peace Army created. We can find 36 reviews with a 3.195 rate. There are no trading accounts connected. We may note that the page was created in 2014.
We have so many negative testimonials that mentioned that the traders couldn’t be profitable with those signals at all.