Forex GDP is a signal provider promising beginner and professional traders a better trading opportunity. The company was founded in 2015 by a team of FX traders with experience in the field for more than 20 years. While the company’s main focus is signal generation, it also deals in videos, training courses, and more for FX traders. The company claims to ensure that its subscribers find the signals accurate and easy to trade without any hassle or stress.
Forex GDP Review
The vendor claims that this is a unique service as it offers technical chart analysis along with each of the signals. With the signals, traders can confidently trade as per the vendor. Further, there is mention of the analysis and strategy sharing done by the team which helps traders to carry out accurate entries and exits. Since there is no info on the approach used, we find such claims suspicious. Some of the features found in the paid version of the signal subscription include signals for News Trading, Commodities, trend reversal, and Jackpot entry.
Trading Strategies and Currency Pairs
No strategy explanation is present for the signal generation. The vendor does not disclose the approach used instead claims them to be of high quality. We could not find info on the currency pairs this service supports and other trading related info. For the minimum balance needed, the vendor recommends the use of any balance, but with proper money management.
No backtests are present for this signal provider which is disappointing. The absence of strategy explanation and lack of backtesting results indicate that the service is not trustworthy. While backtesting results are not effective for predicting future performance, they are useful tools. With the backtests it is possible to know the efficacy of the trading approach and assess the performance.
Forex GDP Trading Statistics
While the vendor presents a separate section of trading results, these are not verified results. We prefer stats verified by reputed sites like myfxbook, FXBlue, etc. This is because the results reveal all the important trading stats like the total gain, drawdown value, profit factor, risk to reward ratio, and more.
Here are a few screenshots of the trading results found in the results section of the site.
The results show the time frame and number of points achieved. But we cannot find info on the drawdown, profitability, and more. This lack of a proven track record indicates this is not a trustworthy service.
Pricing and Refund
Different pricing plans are present which include the premium and supreme plans that cost $36 per month for 12 months and $54 per month for 12 months respectively. The vendor provides a free trial that includes up to 4 signals that focus on providing a pipette target of 900 up to 1500 points.
While the features like trade concepts, basic trade setup, and WhatsApp signal are part of all the packages, the paid plans have additional services like email signals, email support, and signals like news trading, jackpot entry, and more. The company does not offer a money-back guarantee which makes us suspect this is an unreliable service.
What Else You Should Know about Forex GDP
Customer feedback for this signal provider is present on the Forexpeacearmy and Trustpilot sites. Here are a few of the response from customers:
From the above screenshots, we can see that the vendor does not provide verified results and that the support service is bad. While the free trial shows decent results, the paid plan does not work well and results in huge losses. One of the reviews mentions the low number of trades executed. The feedback confirms our analysis of the provider. With inadequate support, poor results, and lack of refund this company does not appear to be trustworthy.
Overall Rating: 4.5/10
Price – 5/10
Strategy -4/10
Trading Results – 4/10
Vendor Transparency – 5/10
Customer Reviews – 5/10
Support – 4/10
Forex GDP Conclusion
4.5
Forex GDP assures an 80 to 95% winning rate. But our analysis shows that this is not a trustworthy service. Lack of sufficient customer support options, absence of refund policy, unverified and poor trading results, and the absence of backtests are the downsides in this provider. While the official site provides an online contact form, there are no other support options, which show this is not a reliable company. Furthermore, the vendor does not offer a refund guarantee. If a trader is not satisfied with the results, there is no means of getting his or her money back. Without a proven track record, we are unable to assess the performance and the risk level of the trading approach. With so many shortcomings we do not find this provider a trustworthy service.
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