Waw Forex Signals is a newer signals service provider promising to make trading easier and do all the hard work for us.
The team behind this signals service claims that the product they offer was designed to guide traders to navigate the perilous journey of trading. In this review, we are going to analyze the efficacy and accuracy of this trade copier to decide whether it is a good choice for traders. Keep on reading to find out what our experts have to say about this service.
How Waw Forex Signals Works
Launched on April 18, 2020, this Forex service claims it can generate 400 up to 1500 pips per month, guaranteeing up to eight signals per week. They make us sure that this fully automated system does all the hard work for us by instantly executing copy trade signals into our trading account.
The wawforexsignals.com website is easy to navigate and consists of the following sections: results, pricing, testimonials, FAQ, and contact page. Waw Forex Signals is not an ordinary signals provider, as they use a trade copier.
On the screenshot below you can see that trades are placed in the master account and then copied to all of the slave accounts (from #1-#6). Slave accounts are client accounts. Thereby, traders obtain the same signals the vendors use themselves on their trading accounts.
The developers point out the main benefits of Waw Forex Signals:
- 100% hands-free system, no human intervention required
- It can generate 400 to 1500 pips a month
- It provides up to eight signals weekly
- The system is compatible with any Forex trading broker
- It can trade all Forex symbols
- It copies trades automatically from master’s account to traders’
- There is no need to use VPS
- Traders can easily customize their lot size
- It supports all account types:
- Real-time reports
- 24/7 customer support
We do not know who stands for this Forex trading tool. We know neither their names nor what trading experience they have in the Forex market. There is no information about their headquarter location provided, but they do tell us that they are located in the UK.
They claim that they are a team of experienced professionals and forex traders, but fail to provide at least something about their identity.
Applied Strategies
The devs of this Forex trading tool do not provide a detailed trading approach or methodology. However, they mentioned that they use different trading styles:
They also pointed out customizable risk management techniques, traders’ ability to customize Lot size. They failed to provide any sort of info to tell us more about this. Although their website presentation looks good, it lacks information where it is the most required. We’d like to see more transparency in terms of the trading strategy this Forex signal uses. We advise the developer to provide an in-depth explanation or insight into how their strategy works to prove to us they know what they are doing.
There are no backtests provided on the official site of the developer. Backtests also known as strategy tests are highly important for traders because they provide them with all the necessary information to evaluate the efficacy and productivity of the system. They help to know how the system worked in the past and compare its results with the present ones.
Waw Forex Signals Trading Results
The vendor guarantees 400 to 1500pr month and a 76% winning ratio. However, we have no reason to trust their aggressive claims, as there is no proof provided on their site. There are neither backtesting nor verified trading results provided. It is a red flag for Waw Forex Signals.
Pricing & Refund
Interested in this signal service traders can opt between 3 unlimited plans: a monthly plan, 3 months plan, and half a year plan:
A money-back guarantee is not provided. This raises our suspicion about the reliability of the system claimed by the vendor.
Customer Reviews
The vendors provided only positive customer reviews on their site. We think these reviews are fake ones as they are faceless. Moreover, we cannot get in touch with these customers. Frequently reviews written on developers’ sites are manipulated or paid. Thus, we can’t trust them.
I was using this signal service for the last 6 Months. It was perfect and generated good profits. They have a money management strategy that looks like this: (standard lots) 0.01 lots for every $100 USD, 0.05 lots for every $500 USD, 0.1 lots for every $1,000 USD ..etc They also advice users to configure a leverage of 1:500. They offer managed accounts where you can give them access to your account so that they can trade for you. Another alternative is to install an Expert Advisor which will copy the trades automatically from their servers. So far so good. Just when everything was looking perfect, on 23rd Feb 2021, they suddenly sent a series of very bad trades (8 trades) that completely wiped out everyone’s account who was connected at that time. I personally lost $25,000 USD. They have their official account on myfxbook and looking at it, they had planned all this as it looks like they stopped trading and withdrew their funds on 15th Feb 2021. This leaves the question: What is their motive for doing this to all their trusted customers? Could they be working with one or more brokers who could benefit if we lost all this cash? This has devastated many people. They have blocked all forums and chats so that people cannot discuss what happened. I would advice anyone who is thinking of subscribing to these scammers to beware of their activities. I have evidence of all the transactions from my live account if anybody wants to review them.