Forex GDP is a service providing live Forex signals that are generated after carefully analyzing the trading charts. According to the vendor, these signals can help you win 80-95% of your trades, depending on the current market conditions.
There are two kinds of services provided by this signals provider, namely free and paid service. The paid signals, on the other hand, can be categorized into Premium and Supreme. For the first one, the fees for 1 month, 3 months, 6 months, and 12 months are $74, $66, $56, and $36, respectively. All of them are paid on a monthly basis. The Supreme package charges $147, $99, $79, and $54 for these plans.
Forex GDP Trading Strategy
The signals generated by this service provider are a result of the hard work done by traders who have more than two decades’ worth of experience in trading currencies. Since chart analysis is done for each signal, it enhances your confidence while placing the trades in the live market.
On the official website, the vendor has not revealed the exact trading scheme used by the system, and we think this is hugely disappointing. Every signal needs to be analyzed to determine its winning potential, and we have no idea how the system manages to do this. Since many Forex traders look for the technical details of the strategy, the lack thereof might cause them to shy away from this system.
Forex GDP Features
With the free plan of this service provider, you receive 4 signals on a monthly basis, with a profit target exceeding 150 pips. The vendor has stated that these signals are better than others because of the precise entry prices, take profits, and stop losses that are provided. Furthermore, a detailed explanation is provided for each signal, so you find it easier to conduct the trades.
Furthermore, each customer can access special content like market analysis, trading tips, market education, and more. The support team can be contacted at any time if you are in need of aid. The different types of signals provided by the system include Big Trade, Jackpot Entry, New Trading, and Trend Reversal.
Forex GDP Backtesting Results
For some reason, the vendor has chosen not to share the backtesting results on the official website. Therefore, we have no idea whether the system could survive long drawdown periods in the market. Since backtests reveal some important details about a system’s profitability, the lack of information in this department might deter some traders from investing.
Forex GDP Live Trading Results
This is a live trading account for Forex GDP that has been independently verified by Myfxbook. It has been trading live since 19th April 2021, and to date, only 44 trades have been placed through it. Now, we cannot possibly judge a system’s profitability accurately when the sample size of trades is so small. Nevertheless, it has managed to generate a net profit of USC2651.71.
We can see that 95% of all trades placed through this account have been closed in profit. It has an extremely high profit factor of 629.37, we cannot put too much weight on it, owing to the short trading history. Another thing to note about this trading account is the extremely high drawdown of 60.84%, which is enough to make any investor wary. The daily and monthly gains are 4.96% and 219.71%, respectively.
Forex GDP Reputation
Forex GDP was founded in 2015 by a group of young traders. It is mentioned that the team has collaborated with some of the top financial institutions, fund managers, and Forex dealers. The team offers educational courses about the Forex market online, including expert analysis performed on the trading of currencies.
We don’t know the identities of the team members, however, and the physical address of the company headquarters has not been provided either. The vendor has not mentioned whether there are any other Forex automated systems developed by this company, so we don’t know if they have manufactured similar systems before.
Forex GDP mostly has positive reviews on the Trustpilot website. One user has praised the accuracy of the signals, the advanced analysis, and the educational materials provided by this system. It seems quite a few individuals have benefited from the signals provided by this service.
Forex GDP Review Summary
- Strategy – 2/10
- Functionality & Features – 4/10
- Trading Results – 4/10
- Reliability – 3/10
- Pricing – 5/10
Conclusion
At the end of our assessment, we have reached the verdict that Forex GDP is not a service provider that can be trusted. On the official website, the vendor promises a high win rate of 80-95%, but by checking the live trading result, we can see that the trading history is too short, which prevents us from assessing the system’s profitability from an objective standpoint. Furthermore, there is a dearth of information in the trading strategy department, which is yet another reason for avoiding this system.
