Waw Forex Signals Review

Jan 4, 2021 02:56 PM ET
Waw Forex Signals Review

For traders in search of an easy and effective trading system, there are plenty of choices. But, are all of them effective? Take the Waw Forex Signals for instance. As a signal provider, this system assures easy trading with its quality signals and fully hosted account service.

Waw Forex Signals presentation

The vendor claims a monthly profit of 400 to 1500 pips. Are the claims of this signal service authentic? We have performed an in-depth evaluation that will give you a candid picture of this service and its reliability.

Waw Forex Signals

Type

Manual

Price

$55 to $234

Strategy

Multiple strategies

Compatible Platforms

MT4, MT5, cTrader

Currency Pairs

Any

Timeframe

N/A

Recommended Min. Deposit

N/A

Recommended Deposit

N/A

Leverage

Any

Trading Strategy Explanation

Waw Forex Signals Trading Strategy Explanation

Claiming to be a straight forward copier of Forex signals, Waw Forex Signals is a manually managed system designed by analysts experienced in applying different strategies. The signals are copied directly to the user account with the powerful and fast-acting trade copier. 

Waw Forex Signals Trading Strategy Explanation

Despite being manually managed, the copier automatically copies the trades to the user’s master account 24/7. Other features of the system include a fully hosted service. So, there is no need for a separate VPS. 

Customization of lot size and risk management is also part of the features of this system. And, this signal provider supports all account types and brokers. This signal service also provides Forex copier software that helps in delivering accurate signals easily and quickly.

Although the vendor informs of using different trading approaches, there are no further details on how the methods are used. A more open approach to the strategy would help us evaluate the system and its risk management methods. 

Backtest Data Analysis

While the official site mentions the best performance and profitable trades, there are no backtests provided. Backtests also called strategy tests are used by traders to evaluate the performance of the system. Details such as profit ratio, total, monthly, and daily returns, spread, commissions, etc. are revealed in the test report.

While it is not advisable to use the strategy tests as the sole factor to assess the performance, the tests help to know how the strategy works. Without backtests, we are unable to evaluate the performance fully.

Live Trading Data Analysis

Waw Forex Signals - A winning ratio of 76% is guaranteed by the vendor

Just as with the strategy tests, this signal provider does not display any trading results. The vendor mentions an average monthly income ranging from 400 pips to 1500 pips. A winning ratio of 76% is guaranteed by the vendor.

However, there is no proof of such high results as no verified or unverified trading results are posted on the site. This is highly disappointing as verified results help provide a better perspective of the system. We hope that this lack is rectified in the future by the vendor.

Pricing

Registration for this signal service is possible in three ways. A monthly plan priced at $55, a three months’ plan priced at $144, and a 6 months’ plan priced at $234 is offered by the vendor. The main difference seen is in the subscription duration and the accounts provided. Money-back assurance is not provided. This makes us suspect that the system may not be as reliable as claimed by the vendor. 

Vendor Transparency

Transparency on the part of the vendor is a vital criterion we use for evaluating a Forex trading system. The Waw Forex Signals site does not divulge any info on the developer team. There is mention of the system being based in the UK, but no other location address or contact details are provided. Without adequate information, the reliability of the system is suspect. 

Review Summary

Pros

  • Forex Copier software for better efficiency

  • 3-8 signals per week

Cons

  • Does not provide verified trading results

  • No backtests are provided

  • Does not offer a money-back guarantee

  • Vendor transparency is not present

Conclusion 

As a signal provider assuring a high winning ratio of about 76%, the Waw Forex Signal service fails to prove its claims. From the various aspects of the system that we examined thoroughly, it is clear that the system is not a reliable one. The absence of user feedback, money-back guarantee, and verified results are gross negligence on the part of the system. 

Without the system satisfying these criteria, it is not possible to judge the effectiveness and dependability of this provider. While the concept of copier seems an appreciable step forward for this system, it comes off as a system with several shortcomings that need to be addressed properly before we can recommend it. At present, this is a system that is not to be trusted.

Rating: 2.4/5

  • Features: 3/5
  • Performance: 2/5
  • Pricing: 3/5
  • Feedback: 2/5
  • Customer support: 2/5

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