DD Markets has been providing trading signals to the Forex fraternity since 2014. The vendor claims to have been documenting all its signals in the most transparent manner. Furthermore, they supply the strategy for each Forex signal plus all updates that were issued to traders through emails.
But this company comes across as a scam. As we will realize later, their signals are not that profitable. In fact, their strategies seem not to be working as real customers have attested to incurring losses while using their services.
What is DD Markets?
Some of the features of DD Markets are:
- Full email support is provided
- Easy to follow
- Can work with all brokers
- Accessible from both mobile and desktop
- Simple interface
- The signals provided are compatible with all Forex brokers
- They are also compatible with trading platforms like MT4, MT5, cTrade, JForex, NinjaTrader, etc.
- Prefer analyzing daily, weekly and monthly charts
Official DD Markets website
The presentation of DD Markets on its official website is beyond disappointing. We noticed that the team puts too much focus on non-issues. The website is divided into 6 main sections: performance, pricing, Forex signals, crypto signals, trading education, and about us.
All these pages are flooded with irrelevant information that cannot help traders to make informed trading decisions. One cannot help but get tired reading all through the long texts before they come across useful data.
Vendor transparency is absent. The About Us page on the information doesn’t disclose much about the DD Markets team. A lot of space is spent on highlighting what they do. Simple details like the profiles of its analysts, company history, achievements, physical contact details, and experiences would go a long way to convince us of their authenticity.
How can we use DD Markets?
In essence, DD Markets provides trading signals. These encompass buy (long) or sell (short) for a specific currency pair, commodity, cross, or index. These signals are mainly sent to traders through email.
According to the vendor, the signals provided often go through a 4-step process. The initial step entails researching the market for the instrument in question using the vendor’s strategies.
The developers then conduct a technical analysis to identify potential entries. After that, they discuss which entry can generate optimal benefits. Lastly, they send signals to users through email along with the chart they applied for the signal.
Pricing & refund
There are several pricing plans available.
- The Global trades alerts feature a 14-day plan that is priced at $59.90, a 30-day plan which is $87.40 and a 90-day plan at $230.60.
- Intraday strategies incorporate a 14-day plan and a 30-day plan which cost $49.70 and $74.40 respectively.
- Advanced integration (Global trade alerts + Intraday) includes a 30-day plan which is being sold at $138.70 and a 90-day plan which is going for $392.40
The vendor acknowledges that they apply intraday and swing strategies. When it comes to the intraday approach, the key focus is on intraday time frames to serve full time traders. They note that the price action models used for this strategy may vary to accommodate different conditions in the market. Although the developers do not give valuable information about the swing approach, it mainly focuses on profiting from peaks and dips in momentum.
Backtest results are unavailable. Backtesting is vital as it evaluates the trading strategy by revealing how it would play out based on historical data. In this case, it is unclear if this test was done, and if it was done, then how were the results? This uncertainty may cause traders and analysts to have doubts about the workability of DD Market’s strategies and hence fear to try their services out.
The company has not displayed live trading results from trusted sites like Myfxbook.com, FXBlue or FXStat. Instead, they have posted their performance data from 2014 in the form of tables. It is hard to trust this information since we have no means of verifying if it is genuine. Let’s have a look at some of the data from 2021 though:
March is so far the losing month. Only one instrument (Crude Oil) managed to make profits. All the other months made significant losses.
April is by far the most profitable month. All the traded instruments were profitable with EURCAD attaining the most profits (113 pips).
What customers say
There are only 4 customer reviews for DD Markets on Forex Peace Army. This is perturbing given that this vendor has been in the market for nearly 10 years. Perhaps traders have realized that this is not a trustworthy vendor.
In any case, we have looked at the two negative reviews available on this site. One customer indicates that the developers provide misleading information as they hide info showing their losing streak. We also found it suspicious that the vendor does not provide trading results from May 2019 to December 2019.
The other client complains of experiencing losses for 3 consecutive months starting from May 2019. According to him, customer service is pretty much non-existent.
Summary: is DD Markets a trustworthy service?DD Markets
Trading results2/5 Bad
- Supports many trading instruments
- Vendor transparency is wanting
- Unverified trading results
- Backtest results are missing