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WeTalkTrade Review: Is It a Good Investment Decision In 2022?

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WeTalkTrade

WeTalkTrade provides instant alerts on signal updates and market movements with its live FX signals app. As per the vendor, the app not only provides trade alerts but also helps users to learn about FX trading. Predicting market trends and confirmation of your predictions are easier with the service.

According to the info present on the official site, the company first began researching various strategies in 2009 and back tested them. In 2012, it started its free FX signals and later moved on to the paid service. The company now has a few indicators, a free app, an Expert Trading Panel, which is an EA, and Velocity Finder.

Features of WeTalkTrade

Features of WeTalkTrade

Some of the key characteristics that give the service an edge over its competitors according to the vendor are:

  • It works on all assets like metals, indices, cryptos, and FX pairs.
  • Precise info on the TP and SL on the various assets are provided.
  • A copy trading feature enables the signals to be executed instantly on your account.
  • The vendor assures accuracy of 80% in the predictions and generation of profit.
  • An easy to navigate user interface is present making it convenient for all traders.
  • You can verify the active signals and the closed ones easily on the dashboard.
  • Instant alerts via push notification prevents the hassle of opening the app whenever you are notified.
  • An economic calendar provides you with the current economic news and the impact on FX.

Trading strategies and currency pairs

Although the vendor provides info on the features available, there is very little info on the approach used and other crucial aspects. We could not find info on details like the recommended deposit, currency pairs, leverage, etc. There is no info on the strategies used by the vendor for generating the signals.

The details present are very minimal and do not provide a proper insight into the working method and efficacy of the service. No backtesting results are present. Traders prefer backtesting as it gives in-depth info on the approach and the results achieved. The lack of strategy explanation and backtests raise a red flag for this company.

WeTalkTrade trading statistics

Just as with the backtesting and strategy explanation, there is no info related to real-time trading. No real trading results are present for the service. We prefer real account results verified by reputed sites like myfxbook, FXBlue, and FXStat. The reason is that the results reveal important info like the net gain, the drawdown, lot size, profit factor, and more. Without performance proof, we will not be able to evaluate the strategy and performance. The lack of verified proof raises a red flag for the service.

Pricing and refund

Pricing packages of WeTalkTrade

Pricing packages of WeTalkTrade

A basic package free of cost is present for the service. It includes features like instant alerts, average success rate, limited support, and covers all asset classes. No copy trading feature is present. A premium package that costs $79.99 per month is offered. It includes all features of the basic package with add-ons like copy trading and a high success rate.

The vendor assures a higher accuracy with a monthly success rate of 79.97% with the premium signals and more than 2000 pips per month. When compared to other similar services, we find the price is expensive. Further, the vendor does not provide a money refund policy which makes us suspect the reliability of the service.

What else you should know about WeTalkTrade

Spam use complaint on WeTalkTrade

Spam use complaint on WeTalkTrade

We found 36 reviews for the company on the FPA site with a rating of 3.272/5. The site complains of spam reviews sent by the company representative. The repeated spam complaints raise a red flag for the company. Here is a screenshot of a recent review for the service:

User review for WeTalkTrade

User review for WeTalkTrade

From the feedback, it is clear that the information from the site is not authentic and can result in losses rather than profits. For support, the company provides a live chat feature, an FAQ section, and an online contact form.

WeTalkTrade Conclusion

4

WeTalkTrade claims to provide a high degree of accuracy in its trade alerts. Our evaluation of the system reveals that while the vendor provides info on the features, there is no proof of performance. The lack of strategy explanation, backtesting, and real trading results are drawbacks that you need to look into before you decide on investing in this service.

  • Price - 4/10
  • Strategy – 5/10
  • Trading Results –3/10
  • Vendor Transparency - 4/10
  • Customer Reviews –3/10
  • Support – 5/10

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