As one of the signal copying systems in the market, Waw Forex Signals is a service claiming to make trading easier. It assures traders of 400 to 1500 pips per month gained through its signals sent at an average of 3 to 8 weekly signals. How effective is this signal service system? Can you see the high returns that the vendor promises? Here is our evaluation of the system and our recommendation.
Is Investing in Waw Forex Signals a Good Decision?
We evaluate a system based on crucial factors such as the vendor/developer profile, the functionality, features, strategy, trading results, and pricing. From our analysis of this system, we found that it does not offer a proper explanation about the location of the service, and the team behind its development.
And, just as with the vendor/developer information, there is no explanation provided for the strategy used. We found the price to be expensive too. In short, our initial conclusion of this system is not pleasant. It did not measure up to our expectations concerning our key evaluation criteria. Here is a breakdown of the main evaluation points.
According to the info provided under the About Us section, this signal service uses a trade copier system and uses fundamental and technical analysts for the signal generation. Other than this we do not find any other info regarding the developers, their location, or contact details for support. This denotes the lack of reliability of this system.
Furthermore, the FAQ section, which has a long list of queries on the various aspects of the system, does not provide the answers. This indicates a lack of attention to even the most basic details of the system. Why add an FAQ section if you are not ready to answer the queries?
As the main features of this signal service, the vendor includes accurate signal generation that guarantees up to a maximum of 1400 pips per month, highly experienced trading analysts for taking care of the accounts, and use of effective fundamental and technical analysis for short and long-term trades.
This system uses a powerful trade copier that copies effective trades directly to your account. A VPS is not needed as this is a fully hosted account service. Customized risk management is used with lot size customization capability.
All account types and brokers including cTrader, MT4, MT5, etc. are compatible with this system. As far as features are concerned other than the copier service, there are no new or innovative features that make this system stand out from the rest.
Three unlimited plans are provided with the main difference being in the duration of the subscription namely 1 month, 3 months, and 6months packages. The cost is $55, $144, and $234 respectively for the 1-, 3-, and 6-months packages.
Two accounts, 24/7 support, VPS, trade copier, and all signals, form the main perks offered for all three packages. When compared to the automated trading systems available in the Forex market, the pricing of this signal service is very steep. With better alternatives available at a much lesser price tag, we do not think this system will find that many takers.
However, the vendor does not provide a money-back guarantee, which makes us suspect the reliability of this system. With a money-back assurance, you can know that the vendor is confident about the system working. Without the refund feature, this system does not come off as a reliable and effective system at all.
No trading results are provided in a verified or unverified form which is very disappointing. There is mention of results and free signals from the Telegram channel of this vendor. They claim to provide a 76% winning ratio.
However, we would like trading results from reputed third-party sites such as myfxbook, FXBlue, etc. For assessing whether a system is worth investing in or not, the trading results are a vital clue. With the absence of the performance details, we are unable to evaluate the effectiveness of the system.
A few user feedback from the Trustpilot site are displayed below.
From the user review screenshots, it is clear that the system is not as effective as the vendor claims it to be. One user mentions that the system does not trade with different pairs and that the trades are not frequent.
Waw Forex Signals Review Summary
Summing up our Waw Forex Signals review, we do not find the system worth investing in. Important criteria such as vendor transparency, strategy explanation, trading results, and pricing do not look promising. Without verified trading results, it is impossible to know how effective the system is. And, the feedback of users just confirms our overall assessment that the system is not a reliable one.