WeTalkTrade Review: Does It Win or Lose?

fxrobotz
WeTalkTrade

WeTalkTrade claims to have an 80% success rate on their signals and comes with instant notification alerts. The service is available for free and also for a cost with a difference in the success rate and support. The developers state that they have been in the market since 2009 and scanning various indicators and algorithms since then. They were able to publish their systems in 2019.

What is WeTalkTrade?

WeTalkTrade has the following features:

  • Multiple products offered by the developer
  • Trading blog for education purposes
  • 80% success rate of signals
  • Application available on both Android and iOS

The developer does not recommend any leverage we should use to trade with their signals.

Official WeTalkTrade website

The robot is available on the website, where we can see multiple systems from Automated Forex Tools. Traders can witness the features and the working methodology of the EA. All the information is present on a single page.

How can we use WeTalkTrade?

  1. You can use the service by purchasing it from the website 
  2. Download the application and enter your MetaTrader account number and password
  3. The trades will be copied to your account automatically

Traders can also use it for free, but the signals will not be copied automatically. The stop loss and take profit have to be entered manually.

Pricing & refund

The copy trading service is available for $79.99 and comes with a copy trading service. Traders can also use the free model, which has a lower success rate and only supports manual trading. There is no money-back guarantee. 

Fee structure for the robot
Fee structure for the robot

Trading strategy

The developer states that they trade on multiple currency pairs and metals, including gold. There is a stop loss and take profit attached with each trade. There is no further information on the topic and without any live records present on Myfxbook, we cannot analyze the methodology for ourselves.

The developer does not provide any backtesting records for their signals or algorithms. This is a poor approach by the company, which raises many questions on their credibility.

Current performance

There are no live records present on Myfxbook that we could use to see the current drawdown of their service. We do not know what gains to expect or the strategy due to the non-availability of the data.

What are the real customers saying about WeTalkTrade?

There are 36 customer reviews present on Forex Peace Army, which gives the company a total rating of 3.272. One of the traders says that he bought one of the indicators from WeTalkTrade and is only losing money with it as there are many false signals.

Customer review
Customer review

Another trader says that the technical support is only trying to support their own indicators. The news feed from the company does not install on MetaTrader. Investors will only lose money if they choose to follow the signals.

Customer review
Customer review

An investor states that the company is only losing trades on their signals on gold. The win rate standing at 65% is far lower than the number they mention on the website.

Customer review
Customer review

Summary: is WeTalkTrade a trustworthy signal?

WeTalkTrade
3 5 0 1
WeTalkTrade is not transparent on their live records and does not declare their strategy correctly. We do not know the actual developer of the signals and the available algorithms.
WeTalkTrade is not transparent on their live records and does not declare their strategy correctly. We do not know the actual developer of the signals and the available algorithms.
3.0 rating
3/5
Total Score
  • Strategy
    3.0 rating
    3/5 Neutral
  • Features
    2.0 rating
    2/5 Bad
  • Trading results
    3.0 rating
    3/5 Neutral
  • Reliability
    3.0 rating
    3/5 Neutral
  • Pricing
    4.0 rating
    4/5 Good

Like

  • Free signals available

Dislike

  • No strategy highlights
  • Little information on the developer
  • High-risk reward
Total
0
Shares
Leave a Reply

Your email address will not be published.

Previous Post
EA Black Dragon

EA Black Dragon Review: Does It Win or Lose?

Next Post
Signal Factory

Signal Factory Review: Does It Win or Lose?

Related Posts