Wall Street Forex review
General information
Today let's take a look at a signal provider called Wall Street Forex. The provider claims to have 8 years of experience in the financial market.
Website
There is nothing special on the provider's website, the website is quite ordinary. Next, the provider says be in the top with the best forex signal. The company provides signal services in the forex market as well as copy trading services.
On premium channel the company offers 5-6 signals per day. The provider asks $14.95 per month for his services. They promise a monthly income + 15% with a winrate of 85%, which is questionable. But the provider immediately disclaims any responsibility, saying that the future results of the signals are not guaranteed.
Social network
The provider has an Instagram account with 1,532 followers.
https://www.instagram.com/wallstreetforexsignals/?hl=en
There is also a Facebook account with more than 5,000 subscribers. The main channel publishes closed successful trades from the VIP group. The last post was two years ago.
https://www.facebook.com/WallStreetForexSignals
Telegram
The primary source of signals is the telegram channel. It has 12,306 subscribers. The average number of views is 846. The audience engagement is on a low level and equals 6.87%.
If you look at the graph of the number of subscribers over the years, you can see that the provider has lost -32% of the audience, from 18,837 to 12,306.
On the telegram channel, the provider is now asking not $14 per month for their services, but $29.95. Provider needs to decide on the price of their charges. Even though the description says that the services also cost $14 per month.
Signals
Let's analyze one of the signals for EUR/USD on November 10, 2022. The signal was for the buy of the asset EUR/USD at the price of 1.01200. Stop loss at the level at 1.0000. Take Profit at 1.01400. TP2 AT 1.01700. TP3 1.02200. After the trade was opened, the price immediately followed the forecast and the trade closed with a profit. But the risk/profit is negative in all of the provider's trades. With such an R/R ratio one can lose capital very easily.
Another example. The signal was to buy AUDJPY at 93.900. Stop loss was at 0.93000. And the take profit was at 94.100. Risk to profit ratio is also negative. After opening the trade the price went against and the trade closed with a loss, which amounted to -90 pips, and a potential take profit of was 18 pips.
Reviews
There are no reviews on third-party websites on this provider. There are the same type reviews on the telegram channel. Of course, there are no negative or neutral reviews. All of them with thanks about the successfulness of the signals. Such reviews on telegram channel posts are doubtful.
Conclusion
On the public telegram channel of the provider Wall Street Forex is actively posting the results of successful closed trades, which can not be verified. The negative R/R ratio is also worrying. With such R/R one can lose capital in 2-3 trades.
During the month of October the provider "made over 3000 points" of profit. Clearly, these screenshots of profits are highly questionable and simply providing screenshots of trades from the VIP group does not confirm these results. Nevertheless, it would have been very easy to avoid this situation if they had provided us with their myfxbook profile for verification. We should not trust everything a signal provider promises.
