Introduction
DD Markets is a signals service which provides a manual method of analyzing and deriving trading signals for forex, CFDs and cryptocurrency assets. The DD Markets brand gets its name from the abbreviation of Digital Derivatives Markets, which is the company that manages the brand.
Digital Derivatives Markets hit the market in 2014 and has been in business ever since.
Two levels of trading signals are provided by DD Markets. There is the Global Alert service, and the FX intraday strategies service.
The FX intraday signals service provides trading signals which are only good for intraday trading. All positions must be opened and closed within the market hours of a single forex trading day.
The Global Alerts service is a trading signals service that covers comprises trading signals that are derived from swing trading strategies. It involves two steps. The first step involves defining the strategy on which the trade will be based. The second step is where the signal for the trade is delivered following the displayed strategy. The signals are delivered to the traders via email.
In other words, the DD Markets product suite goes beyond just providing trading signals. It also includes a detailed explanation of the strategy behind each signal that is provided.
Assets Traded
The signals provided by the DD Markets service covers various FX pairs, CFD assets and cryptocurrency assets. CFD assets covered include commodities, stocks and indices. This makes it a more encompassing service than what most signals providers offer.
The trading of stock CFDs is a significant component of what DD Markets offers. A newsletter detailing the stock picks of the year is sent out weekly so that traders can have advance information on what assets are being looked at for possible trade opportunities.
How Does DD Markets Work?
The forex signals service provided by DD Markets is delivered first by posting the assets to be covered and the market analysis for these assets on the DD Markets website. The next stage is the sending of signals on various FX pairs, stocks CFDs as well as commodity and index CFDs to the emails of all subscribers. Unlike in previous years, the use of emails as a means of delivering signals has become more popular because smartphones are configured to produce sound alerts for incoming emails. Everyone owns a phone, so it is just as good as receiving a push notification or any other form of instant alert.
a) The signals which are sent to subscribers are said to pass through a 4-step process which starts with the identification and analysis of the asset in question.
b) Following the identification of the asset and the analysis of any opportunities, the strategy is outlines on the DD Markets website for subscribers to view.
c) The entries and exits are affirmed using calculations of potential drawdowns and the risk-reward ratios. Any fundamentals that could impact the trade are also observed.
d) The signals containing the entry and exits are then sent via email to subscribers. Daily updates to trades are also provided to ensure effective trade management until the trades are closed.
How Much Does the Service Cost?
There are basically three payment plans for the DD Markets forex signals service. There is the bi-weekly plan, the monthly plan (30 days), and the quarterly plan (90 days).
The fees payable as subscription depend on whether the trader chooses the Global Alert package, the FX signals intraday package, or the crypto signals package.
What does each of these plans entail?
a) Global Alerts Package: There are three plans here. The bi-weekly plan is a 14-day forex signals alert plan that costs $59.90. The 30-day plan costs $87.40, while the 90-day plan goes for $230.60.
b) Spot FX Intraday Plan: The 14-day plan goes for $49.70, while the 30-day plan costs $74.40.
There is also the opportunity for subscribers to combine plans. Combined plans are only available on a 30-day and 90-day cycle basis.
c) The 30-day plan for the combination of the Global Alerts and FX Intraday packages costs $138.70 per month, while the 90-day plan for the combo package is $329.40, payable every quarter.
Those who want to pay for customized market research can get access to this for $47.90. This is paid as a flat fee per market research document.
d) For those who are not really traders but are players in international trade, DD Markets has a service that provides exchange rate projections for the EUR/USD, GBP/USD and USD/JPY. This service, which costs $96.50 for the 3-day plan, can be used by importers and exporters to hedge their transactions against exchange rate fluctuations.
Those traders who are only interested in cryptocurrency trading signals have a plan custom-built for them. Such traders have to shell out $71.50 to access the service. This is a monthly plan and the fee is payable monthly. All payments are made exclusively via PayPal.
Profitability
The team at DD Markets specifically states that it is impossible for the brand to provide a figure for returns on investment (ROI) as it will depend on the trading capital invested, and the leverage used. These parameters vary from trader to trader.
Pros and Cons
What are the pros and cons of using the DD Markets signals service?
- DD Markets reminds traders that for the service to remain profitable for them, they need to exceed a certain threshold in pips made as profit for the payment cycle. This is why the brand has put in place a simple pricing calculator. This pricing calculator displays the trade volume (in lots) and the number of pips required to cover the costs of the service.
- The DD Markets service does not require signing up with the brand’s preferred brokers. This allows the trader the total flexibility to choose whatever broker he or she wants to use to enjoy the service. This also eliminates any potential conflicts of interest on the part of the signal provider.
- DD Markets also offers a comprehensive trader education suite. There are various trading courses for beginners and educative articles/videos. Some of the topical content covered by these courses include trading strategies, order executions and how the financial markets work.
- The service is a paid service with no opportunity for a free trial. Therefore, the trader has to commit funds to the project instantly, with no recourse for a refund if the signals service does not deliver to expectations.
- Also, there is always the risk that the trader could miss the trading signals sent via email, especially if these end up in the junk mail folder or are filtered out as spam.
- The process of generating and sending out signals is not a beginner-friendly process. The trader must have some level of trading experience to get the optimum benefit from the DD Markets signals service.
Customer Support
The customer support function on DD Markets is rudimentary. Users can only reach the team via an online contact form on the website. There is no Live Chat function, no email address, and no phone number with which to reach a customer support agent.
Conclusion
The DD Markets signals provision package is not automated. It employs human input to analyze the markets for trading opportunities. This has a noticeable advantage: the potentially damaging impact of fundamental triggers that go against the trade signals are properly accounted for.
However, the rudimentary nature of the customer support as well as a lack of definition of the average return on investment for the brand’s signals are not positive for the brand’s image. DD Markets may need to effect some changes in this regard to improve its offering.
It is safe to say that DD Markets is a good signals service, but there is room for improvement.
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