Edge Trading Review

Jan 14, 2021 02:44 PM ET
Edge Trading Review

Signal services are very handy tools for Forex traders. With appropriate signals, you can get your entry and exit points right and make winning moves. Edge Trading is a signal service that promises traders an 83% success rate.

Claiming an experience of over two decades, this signal service assures the best win rate in the field. Our Edge Trading review has our experts analyzing all aspects of this service in detail so you can decide whether it is suitable for you.

Edge Trading

Type

Fully-automated 

Price

2,974.90 INR/month

Strategy

Algorithmic

Compatible Platforms

Any

Currency Pairs

All

Timeframe

Any

Recommended Min. Deposit

$100

Recommended Deposit

$500

Leverage

Any

Trading Strategy Explanation

Edge Trading Trading Strategy Explanation

Edge Trading is a provider of Forex signals made available to users from any region. This service is compatible with all brokers. 

The working method of this service is simple. You need to join the private channel of this service on Telegram. Notifications are sent to you when a trade opportunity occurs. You need to just copy the trade in your trading platform and execute the trades. The vendor assures that the premium signals generated can bring a success rate of 83%.

Edge Trading Trading Strategy Explanation

According to the vendor info, the success rate is because of the trading approach used by this service. A combination of detailed market analysis and trading algorithms are used as the strategy by this provider. This does not explain the exact strategy used which is disappointing. We would like more clarity on the approach used so we could evaluate the risk level and performance of the system.

Backtest Data Analysis

This signal service does not provide any backtests to disclose the strategy used. Although the vendor claims that the developer team has experience of 25 years, they do not provide backtests. Backtesting is an essential part of Forex trading as it helps traders identify opportunities with the help of historical movements, price, and repeated patterns. In short, the tests reveal the technical analysis used, which is very crucial for understanding the performance of the system.

Live Trading Data Analysis

Trading Results

Account

Not disclosed

Started

January 2020

Deposit

$5000

Balance

Not disclosed

Gain

126.9%

Daily

-

Monthly

-

Drawdown

-

Profitability

1526 pips

The screenshots below show the monthly profit in pips and the accumulated returns percentage starting from January 2020. 

Edge Trading Trading Results

Edge Trading Trading Results

As mentioned before, with a team that has vast experience in trading, the lack of results dating back beyond 2020 is very unusual. It makes us suspect that the system has not provided an efficient performance in the past.  

Or, the lack of a larger sample size is because the system has been functioning only since January 2020. Whatever the reason for the small sample size, we prefer a more authentic and reliable trading result info. 

Trading results verified by a site such as myfxbook is our preferred choice as it reveals plenty of info on the performance of a system. Without details such as gain percent, drawdown, etc. evaluation of a system remains incomplete. 

Vendor Transparency

According to the info provided on the history of the signal service, two UK traders are behind the development of this service. While the system was initially based in the UK, now it has spread to Canada, Tokyo, the US, and various other regions. 

Launched in 2019, the system has used analyst teams known for their expertise in long-term and short-term trading. This system uses quantitative analysis software for signal generation. Over 2000 premium members are part of Edge Trading’s community. 

The vendor does not reveal any names behind the system which looks suspicious. Further, the contact feature has just the online contact form and no other means of support, such as phone contact, email, chat, etc. 

Review Summary

After analyzing this signal provider, we have identified the following pros and cons of the service:

Pros

  • Price is not expensive

  • 14-day money-back guarantee

Cons

  • Does not explain the strategy used

  • No backtests are provided

  • Trading results are not verified

  • Transparency is not present

Conclusion

Wrapping up our Edge Trading’s review, the signal provider has a frequent signal generation feature that is the only redeeming feature. This system does not provide strategy tests or verified trading results, which make it impossible to properly evaluate the system. 

From the meager info provided on the strategy and the trading results, it is clear that the system is not as effective as it assures. Despite the nominal price and money-back offer, the system on the whole lacks several key aspects needed to make it effective. Hence, we would not recommend this system.

Rating: 2.8/5

  • Features: 3/5
  • Functionality: 3/5
  • Performance: 2/5
  • User Feedback: 2/5
  • Price: 4/5

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