DDMarkets is a signal service provider that has been active since 2014. The vendor claims that the system uses an efficient strategy with more than 7 years of track record. However, we need to conduct our own investigation to determine whether we can trust the signals generated by this software.
At DDMarkets, traders can access the strategy used to produce the signals. They also get to know about the latest market trades and lucrative trading opportunities. You get trading alerts through mobile notifications and email.
In the signals, you get to see the price range in which they should be executed. The system supports STP and ECN brokers. DDMarkets employs a stop loss for each trade in order to control the risk.
This signal provider is compatible with all types of pairs and you need to have the MT4 platform installed on your system in order to use it. The vendor recommends going easy on the leverage and using a VPS service with DDMarkets. VPS services allow you to execute orders at high speed, so we can assume that the system follows a high-frequency trading approach. The software provides trading signals on a daily basis.
Currency pairs, strategy, & timeframe
The strategies used by DDMarkets include Moving Average and price action. Day traders can use this strategy that uses two MA lines for getting long and short trade signals. These lines have periods of 21 and 100 and when they intersect each other, you get buy or sell signals.
This system also looks for bullish and bearish engulfing patterns while using the price action trading scheme. You can get both trend and reversal signals from DDMarkets, which uses a variety of technical indicators for pointing out trade entries. When it gets the indication of a strong trend, it jumps in with a stop loss.
Here, you can get trading signals for the longer timeframes. The vendor claims that this makes the entry price less sensitive.
DDMarkets trading performance
EA vendors often produce backtesting data to show how their robots performed based on historical data. It inspires buyer’s confidence since such a system is very likely to show impressive performance in the live market as well. Since this is only a signal provider and not an automated trading system, the vendor has not shared the backtesting results.
Since the vendor has not shared the verified trading results on the website, we decided to do some digging of our own. This is a live trading account on Myfxbook that seems to belong to the signal provider. As you can see, the results have been discontinued since August 20, 2016.
While the account was active, DDMarkets placed 204 trades through it, losing 92% of them. Thus, it is not surprising that the vendor chose to discontinue the results. The total loss suffered while trading through this account was $37061.96. It had daily and monthly gains of -0.29% and -95.57%, respectively.
The high drawdown of 99.91% indicates a high-risk trading strategy, and we can confirm this by looking at the trading history. As you can see, there have been losses as high as -251.27%. Therefore, we cannot consider this a profitable signal provider.
How much does it cost?
There are two pricing plans for DDMarkets that provide global trade alerts and intraday strategies. The 30-day plan costs $138.70 per month, while the monthly fee for the 90-day plan is $392.40. Both of these plans are quite expensive, especially for novice traders who don’t wish to risk too much money initially. There are individual plans for the trade alerts and strategies, but unfortunately, the vendor does not offer a money-back guarantee.
Reviews from customers
On Trustpilot, there are only 3 reviews for this signal provider, which means it doesn’t have a decent reputation among traders. One user claims to have lost a large sum of money while trading with this system and for this, they have blamed the faulty entries made by the software.
Should you use DDMarkets?
|Intraday strategies available||Discontinued live trading results|
|High monthly fees|
|High-risk trading approach|
DDMarkets is not a reliable signal provider because its live trading performance is quite disappointing. The vendor has discontinued the results, which means they don’t have enough confidence in their system. It follows a high-risk strategy and carries high monthly fees, which makes it an unsafe investment.