DDMarkets provides trading education and signals to those traders who are new to the markets. They trade on multiple instruments and strive for a higher risk: reward ratio in their trades. Our article will take into account all the services offered by the providers and give a verdict on whether you should follow them or not.
Product offering
The product is available on the sellers’ website who details all the information in an unregulated manner. You will have to go from one tab to another to get the knowledge needed, which is quite troublesome.
Vendor transparency
The developers claim that they have been trading the markets since 2014. However, they do not share any verified records of their experience and whereabouts, which is an extremely poor approach. It raises many negative concerns about the service.
Price
The providers present multiple plans that differ on the basis of duration. The intraday strategy plan for 14 days costs $49.70. Other packages for an extensive duration can require more than $100. The company doesn’t offer any money-back guarantee with their program. There are also no free trials that we can use to test out the service before purchasing.
Trading strategy
The company is not fully transparent about the strategy they are using. However, from the website, we can deduce that they use a day or swing trading approach to trades. Depending on the style, they perform their analysis on the daily, weekly, or monthly chart. The providers claim that they are aiming for a high-risk reward ratio of 1:3. The signals are based on the price action, and reversal patterns and fundamentals are taken into account before execution.
The trades come with a fixed stop loss and take profit as multiple exit levels can be confusing, according to DDMarkets. The trades are sent to the email id of the trader, who then has to execute it manually on their accounts. The amount of risk per trade is the choice of the investor. The company trades multiple instruments according to their preference.
Trading results
It is pretty sad to note that no trading records are tracked through verified websites such as Myfxbook. Uploading the results on Myfxbook takes a few minutes, and lack of transparency is an inferior approach. The company only provides the output on their website, which can be easily manipulated according to their liking.
This activity shows that the signals are not profitable, and the providers are only looking to make money by subscriptions.
Customer reviews
Customer reviews are present on Forex Peace Army that can give us the viewpoint of other investors. A total of 4 reviews give the algorithm a 2.538 -star rating. Traders complain about the non-existent customer service. They also state that the company has a streak of losses, and they do not track their performance via Myfxbook to fool traders. They say that the stop losses are constantly maneuvered, which changes the initial risk they are taking on the account.
