Tradadex is a Forex signal service and education provider.
Forex education at Tradadex costs $699 but there’s zero proof that it’s good-quality education and not a rehash of freely available materials on Google.
Their signal packages start at $49 monthly where trading is done during London and New York sessions.
We assume that these are market orders as opposed to pending orders.
Tradadex claims that they can achieve 500 to 800 pips a week with draw down between 5% to 10%.
They also run a separate managed account service where they promise too good to be true weekly ROI of 20% from a minimum deposit of $5000.
Profit share is 50:50 and deposits can be made through a wide variety of methods which include BTC, Skrill, Neteller and even Western Union.
Tradadex also mentions that 75% of their trades have stop loss at 30 pips with take profit from 50 pips to 300 pips.
The service is showing us their Whatsapp conversation with clients about the profits they have made including screenshots of how these returns were generated.
These cherry-picked whatsapp conversations are from customers who were happy at the moment.
The service did not show us screenshots of how they lamented on the vendor when they discovered a huge loss or an account blow up.
They also claim that in a bad week, they’ll break even because they’re only risking 1 t 5% of account equity.
Their profit numbers are great but meaningless if the vendor cannot provide verifiable trading performance to back them.
That’s why we can’t qualify this signal service to join our list of recommended Forex trading products and services.
Is Tradadex legit?
This Forex trading service is not legit because of the following reasons:
They focus on publishing promotional statements as opposed to information that is verifiable.
Ownership information is not available, although it appears that Tradadex is a one-man army operation.
They also claim that their signals have an accuracy rate of 97%. There’s no signal service with this accuracy rate whatsoever.
If they believe that we’re wrong, they should counter this review with proof of their suspicious accuracy rate.
Their Telegram channel is mostly used to post cherry-picked profits and for promotion.
This is a hallmark of a scam signal vendor. With no track record (only trade analysis and commentary on their homepage), we can only conclude that this is a scam.
We do not think that this service is worth your time or investment.
If this signal service wants to be trusted, they should provide proof of their alleged profits and consider looking professional in the eyes of potential subscribers.