Signals Review: WeTalkTrade

As I settle back in from the Christmas break, this first review is of a signal provider, with multiple different products in the Forex marketplace, WeTalkTrade. Last week, I did an analysis of their Pipbreaker Forex indicator, but today I’ll be looking more at their live Forex signals application, and anything else they have to offer on their website.

The head offices for WTT are located at 2711 Centerville Road, Suite 400, Wilmington, DE 19808. The best way to get in touch with support, is either via the chat box on their Facebook page, or emailing support@wetalktrade.com.

WeTalkTrade Review

To start, the WeTalkTrade website is professional looking, with just over 20 blog posts, ranging in topics from MQL programming to trading tips and strategies. They also provide access to a Forex trading strategy e-book that they utilize to collect emails of potential clients. Unlike most developers, they have many different social profiles and provide an exact location of their service headquarters.

While the website is quite aesthetically pleasing, I find that there is a real lack of substance when it comes to the information being provided. Whether it’s the blog posts, or the product explanations that they provide, there are usually quite a few missing elements as the vendor does a poor job at getting underneath the surface level.

On the main sales page for the signals application, we are told that the system works on 12 major currency pairs, for all levels of traders, and provides an 85% success rate. Hopefully there is some proof to verify this success rate, as the Pipbreaker indicator they provide, did not give us access to any trades, or trading history. This is also the case with recent signal provider review I did of AndyW Ltd.

Breakdown

• Type: Forex Signals
• Price: $79.99/month
• Strategy: Undisclosed
• Timeframe: All Timeframes
• Pairs: 12 Pairs

The WeTalkTrade signals can be accessed for free as a basic member, but in order to get a high success rate, the vendor promotes their premium version. This is the main highlighted difference between the 2 plans, as the free version also provides access to the 12 major currency pairs, and the instant notification alerts. With the premium version, traders are promised a high success rate, and 24 7 live support. The basic version offers an average success rate and limited support.

Before signing up for the premium version, I would recommend testing out the free signals as this will give you some insight into what you can expect from the service.

Trading Results

Much like the Pipbreaker indicator, the WeTalkTrade signals service doesn’t provide the level of trading results I was expecting. Considering that the developers of this product are telling us that they have an 85% success rate, I’m surprised there are no trading results to back up these claims.

This means that the developer is either being deceptive about the success rate, or they are making a rough guesstimate. In both of these scenarios, we are not getting access to long form trading statements, or FX Blue accounts that could verify the validity of the signals being sent.

In the early days of Forex, this was acceptable, but as there are hundreds if not thousands of trading products on the market now, it’s best that we see verified trading results before we register.

Client Reviews

The only other way to decipher the level of success of the WeTalkTrade signals, is by sorting through the application reviews on Google Play. Here is the current breakdown of their client reviews:

• 5 star: 438
• 4 star: 129
• 3 star: 63
• 2 star: 34
• 1 star: 113

While these ratings are pretty good, I still prefer trading results, because reviews can be manipulated.

Out of the last 3 customer reviews, there have been two 1 star ratings, and one 5 star rating. The one thing I appreciate about this, is how the developer answers every review.

Update 2021

There hasn’t been much change since our original review. In fact, it’s almost entirely the same.

The only clarity we were really looking for was in terms of trading results and transparency. Despite this being a major request in our review, there are still no updates to this 3 years later.

There is still nothing on the website proving the 85% success rate promise. This needs to be resolved before they can be considered for the best Forex signals page.

Conclusion

I certainly appreciate the professional approach pushed forward by the WeTalkTrade vendor, but when it comes to the services, I still need to see more. I would be much more comfortable signing up for the premium signals, if I was able to see some trading results that verify the success rate being promised. Maybe I’m too skeptical, but I appreciate a certain level of transparency that I’m just not seeing here.

If you have anything you’d like to contribute to this review, please do so now.