Waw Forex Signals is a signal provider that claims to deliver 400-1500 pips every month and high-quality signals each week. With the help of the best technical and fundamental analysts, it promises to enhance your profits in the Forex market.
But, the thing is there are several signal provider services available on the market today and a Forex trader needs to assess each aspect of the system before using it for live trading. That is why we have provided a comprehensive review of the service here. This will help you decide whether it is worth investing in.
Detailed Forex Robot Review
Waw Forex Signals website has a user-friendly interface where we can easily check the pricing, trading results, and FAQs. Waw Forex Signals uses a trade copier where the trade is placed by the analysts using master accounts and the same ones are placed on the client accounts.
It allows you to trade in major, minor, and even exotic pairs, providing accurate signals and modifying your stop loss and taking profit according to live analysis of the market and its movement. The clients can access real-time reports about their trades and use different trading platforms like cTrader, MT5, and MT4 for their operations.
With this service, we don’t need to use VPS and are able to customize the size of the lot. The system is hands-free, so you do not need to worry about any hassles while placing your trades.
In terms of vendor transparency, Waw Forex Signals does not offer us much. While they do reveal they are from the UK, no specific address is provided for the headquarters. Furthermore, we do not know who these supposed “experts” are who are placing the trades.
This is honestly a red flag for Forex traders. We don’t know whether these experts exist and whether they have any credibility. Honest Forex signal providers should be transparent in their dealings and withholding such information can lead to mistrust.
Waw Forex Signals Strategy Tests
Waw Forex Signals has market analysts who manually manage the system and use strategies like swing trading and day trading with fundamental and technical analysis. It claims to provide a minimum of 8 signals every week and a huge winning ratio of 76%, but no proof is provided. Backtesting results are missing as well.
Thus, the information provided about the trading strategies on the website is somewhat inadequate. It does not reveal any details about the methodologies or tell us about the risk management strategies that are used. A seasoned Forex trader likes to know what they are getting into and they would find the lack of information to be highly disappointing.
No Trading Results
Seeing the tall claims made by this Forex EA, we were interested in viewing the trading results. Unfortunately, there are no trading results for verified or unverified accounts. Apparently, the trading results are provided to the clients on Telegram only, and this raises some questions about its authenticity.
Trading results from third-party websites like FXBlue and myfxbook are vital for a Forex trader who wants to know whether a signal provider like this is worth the money. The effectiveness of this system cannot be verified without them.
Waw Forex Signals provides us three unlimited plans for 1, 4, and 6 months. The prices for these plans are $55, $144, and $234 respectively, with the per month cost for the longer-term plans being lower. All of these plans give us features like a trade copier, all kinds of trading signals, VPS, and 24/7 support.
If we compare the pricing plans to other signal providers on the market, they are not exactly cheap. At such a price tag, traders would be expecting verified trading results and more information about the strategies used. So, we think the pricing plans are quite unreasonable.
A refund is provided by the vendor only if there is a technical issue with the EA, but there is no such policy for failed trades and this is not a good sign.
Below are some screenshots of user reviews for Waw Forex Signals on trustpilot.com.
As you can see, users have mixed feelings about this signal provider. There is not much to go on and the handful of testimonials provided on the official website seems to be manipulated.
Thus, we can see the areas where Waw Forex Signals disappoints us.
While it manages to create a professional presentation on its website, it does not reveal much information about the trading strategy, the identity of experts, or the trading results.
So, we do not think this system is worth the price tag.