FX Hunter Wealth is a Telegram signals service that also offers MAM accounts to investors willing to deposit $2,000.
FX Hunter Wealth is charging $150 for the first 2 months and $125/monthly thereafter or $999/yearly.
Traders who choose to sign up with IC Markets (their affiliated broker) are given a discount price of $499/yearly.
The sales page also claims that the website is offering free educative analysis and updates but we know very well that this is a paid service.
The trader that mans FXHunterWealth signals service is only known as Dave FX Hunter.
We’re not able to verify his trading background or experience because this information is sometimes difficult to retrieve from traders who are not open to scrutiny.
FX Hunter Wealth sales page is also a bit startling and the writing creates the impression that the vendor is very rude to the curious subscriber.
However, their myfxbook account suggests that their MAM account was setup in February 2020 with IC Markets broker.
We do not have “Dave FX Hunter’s” personal trading records.
So all of the signals’ performance will be judged based on what we see on this myfxbook.
Meanwhile, you can consider these highly recommended trading products and services.
Is FX Hunter Wealth Legit?
While the service may be legitimate in terms of how they trade and offer their signals, there are some shortcomings to consider.
We look at Dave FX Hunter’s strategy which involves volume analysis, market liquidity and manipulations.
Dave FX Hunter claims that when subscribers join the service, FXHunterWealth, they will learn how market makers play the game and how to act before moves happen.
While all of this is fine and dandy, we would like to see what annual returns look like in this signals service.
This takes us to Dave FX’s myfxbook account which is currently showing gains of +25.86% and absolute gain of +13.23%.
This is a MAM account but the thing with myfxbook gains parameter is that it often gets manipulated by simply crediting money into the trading account.
If overall gains and absolute gains are figures that are far apart, then it’s often a sign that the vendor is manipulating the account to make it look like as if the strategy is really profitable.
This affects other parameters like monthly gains and even drawdown.
Furthermore, we see that this is a very short trading sample. It is not possible that Dave became a full time trader in February 2020.
We wouldn’t recommend this service partly because Dave’s attitude won’t sit well with most curious learners.
Secondly, there’s something sinister about FX Hunter Wealth and their myfxbook account.
We will keep tabs with this myfxbook account for the sake of future updates in our review.
At this point, if you’d like to invest in Forex trading, you are better off following these recommendations.