Today I’m analyzing a new signal provider that aims to earn between 300 and 1,500 pips per month, Forex GDP. The vendors main tag line is that the “quality of trade signal is more impotant than quantity of trade signals.” While the grammar of their slogan isn’t the most impressive, they want the community’s know that they put a concerted effort into every signal they provide.
According to the sales page, the service was started in 2001, but in doing a WHOIS domain search, it’s apparent that this website was first registered in 2015. So, either the developers are being deceptive in terms of their data of origination, or they’ve been providing services under different names before the launch of this service. I won’t rule out either option, until more information is provided. In order to get in touch with support, traders can email [email protected], or add “forexgdp” on Skype.
Forex GDP Review
The website layout is convoluted as it is some sort of a hybrid between a blog and the Forex GDP sales page. In the blog portion of the website, there are generic educational articles, and brief trade signal analysis posts that give more insight into their trade approach. Both of these types of articles, are helpful but don’t offer much detail when it comes to their trade methodology, and what they are looking for in terms of trade setups.
While the sales page doesn’t provide much information, there are more details available in their frequently asked questions page. One of the interesting elements they discuss, is their rotation of trade analysts. According to the FAQ, if a losing signal is provided by any of their analysts, that analyst must step aside, and allow for another analyst to provide the next trade in order to protect traders from a string of bad decisions.
Considering how important the analysts are that are providing the signals, I’m surprised that we aren’t introduced to any of them. Sadly, we are frequently asked to trust signal providers or analysts without ever being introduced to them, this is also the case in my recent reviews of Pip Wizard, PipPhenes and Sky Pips.
- Type: Forex Signals
- Price: $84-147/month
- Strategy: Big Trades, Commodity, News, Jackpot, Trend Reversal
- Timeframe: All Timeframes
- Pairs: All Pairs
There are currently 3 options available for traders interested in the Forex GDP signals service. There is a free membership, a premium membership and a supreme membership. Free members get 2-4 signals per month, using basic setups, looking to achieve a target of 90-150 pips per month. These signals are sent to via WhatsApp exclusively.
The premium membership goes for $84 per month, and provides traders with 8 to 12 signals during this period looking to achieve a target of 300 to 700 pips of profit. With this membership, traders get access to trend reversal signals, and big trades signals. Neither of these strategies are explained in any detail. The signals are sent via email and WhatsApp.
Lastly, the supreme membership goes $447 per month, and provides traders with 16 to 25 signals with the goal of reaching 700 to 1500 pips of profit. This membership plan provides traders with all of the different trading strategies, full email support, and the signals are provided via email and WhatsApp.
Despite having many different articles analyzing different trades, the Forex GDP team does not provide us with a full trading statement, or any verified trading results. There are no Myfxbook or FX Blue accounts, instead we have to go through 115 pages of trade analysis blog post to see how the services been performing. Yet, the issue with this type of trading results is that it is not verified, and the vendor could easily be cherry picking winning trades to ensure that the service appears a viable to potential clients.
I certainly find myself saying this way too often recently, but Forex signal service providers need to start using statement sharing websites, to prove to the market that their signals are truly viable. We shouldn’t have to keep relying on screenshots, or in this case, blog posts in order to determine whether or not the service is worth our time.
With 30 reviews online, Forex GDP has a 3.8 star rating from 30 reviews. Yet, the last 2 reviews are quite contradictory, with one 5 star, and the other 3 star. The 5 star review is very impressive, with the client claiming that the developer does everything in their power to help educate traders alongside providing profitable trading signals. The 3 star review is from a trader who claims that the vendor is not posting all of the losing trades, which was one of my concerns in the trading results section of this review.
It’s been about a year since our last update on the Forex GDP services. Though, not much has changed. Still the same busy looking website and the exact same approach to their signals.
There is still no transparency when it comes to trading results, and the trading strategy is equally as vague or non-existent.
In terms of client feedback, we get a client come in here from time to time saying they are doing very well, but they never back up their claims. Not a single response to our questioning about trading results, which makes it feel like these comments aren’t real, or are sponsored in some way.
We aren’t asking for much, just proof that this works.
I’m not totally sure where I land yet on the Forex GDP signal service. I believe that this service has potential, but needs to address my concerns about transparency and trading approach. I would like to see proven and verified trading results before I sign up with any service, and I don’t feel like that’s asking too much in 2018.
Thanks for reading the review, and please feel free to leave any questions or comments you may have now.
- Good support
- Many options
- Multiple strategies
- High price
- No verified results