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TechBerry Review
Every now and then, I come across a forex trading service that is different from the usual automated forex robot and manual trading systems that are so common place. TechBerry falls into that category, being an automated trading platform that operates on Forex statistics being collected online from more than 100,000 of forex traders.
They call themselves a “Social Trading Analytical Platform”, which is not a term that I have come across before. However, the best way I can explain it would be as a combination of the popular Myfxbook service where you can publish trading accounts and the industry leading social trading platform, eToro. However, I would proceed with caution if you are considering TechBerry for the reasons that I will cover within this TechBerry Review.
What is TechBerry?
TechBerry is an automated forex trading platform that operates on detailed trading statistics that have been collected online from more than 100,000 forex traders around the globe. The company make some bold claims in terms of guaranteed returns, something that I would personally not take into consideration at all.
From my vast experience in the forex industry, one thing that I can confidently tell anyone, is that there can be no guarantees in trading at all. Well, the one thing that I can guarantee, is that nobody can 100% predict what will happen in the forex market moving forward and therefore, I would proceed with caution should anyone claim “x” amount of returns over “x” amount of time.
TechBerry claims to have partnerships with a variety of forex brokers. I read that a trader who was considering using this service reached out to one of the brokers to verify this and they could not find any connection between themselves and TechBerry. However, it may just be that they work as an introducing partner to the broker.
If you are a company, TechBerry can provide you with access to the real-time trading data, historical trade records and analytical AI tools to enhance the possibilities of your business. The main purpose of this would be to try and take advantage of real time trading data from more than one hundred thousand traders.
How does TechBerry Work?
TechBerry has an inbuilt deep learning algorithm that it utilises to try and identify the most beneficial trading activities available in the market, based on the vast amount of data that it collects from various sources. I do like that there is so much data being crunched in order for the TechBerry signals to be created, but I feel like you can get more transparency from other established social trading networks such as ZuluTrade.
Trader can download the TechBerry expert advisor software and install it to the industry standard MetaTrader 4 (MT4) or MetaTrader 5 (MT5) platforms. TechBerry collects trader’s accounts data online which it uses to determine the market sentiment and direction. You can upload trading activity regardless of your trading performance to share with other users.
I am not sure it is a great idea to allow bad performing traders to publish their data as I feel this could skew the statistics in a negative way. However, the TechBerry EA may be clever enough to establish between good and bad trading strategies, which in theory should improve the data analysis. For instance, if the software can determine that a particular trade on a currency pair is bad, then the recommendation could be for the contrary. This could be further backed up by confirmation on a good trade on the same currency pair in the opposite direction.
TechBerry Packages
It is good to see that TechBerry have a decent range of packages for you to choose from. I particularly like the 14-day trial period as I believe this can help to give you an idea of how it works to see if it meets your specific needs before making any long-term commitment. Although do keep in mind, 14-days is nowhere enough time to draw an accurate conclusion from any trading strategy.
The minimum deposit ranges from $500 for traders to $5,000 for individuals. This is quite high in my opinion, especially for an unregulated service. On the other hand, the annual subscription cost is much more reasonable, with the green plan starting at $19 and the infinite plan $499.
One of the main differences between each of the TechBerry packages is the service fee. The higher up the package you are on, the more you can save on service fees. You will need at least the silver plan to get real time trade monitoring which would be a must in my opinion. If you want a personal account manager you will need the Gold plan at a minimum.
TechBerry Results
You will need to login to the TechBerry website to see the results, but they have not been verified by a third-party verification service such as Myfxbook or FX Blue. This raises concerns for me personally, but I will let you be the judge of that. I think they could significantly improve their service by allowing all visitors to the website to see the latest real account TechBerry results that have been verified and published by a reputable third-party trading website.
TechBerry Conclusion
TechBerry is the first social automated trading platform that collects and analyses more than 100,000 trading accounts data online using its own highly efficient AI and creates a custom trading strategy. They have a customer support team on hand to answer your questions via live chat, email and a call back form.
I can certainly see some potential but the claims made of guaranteed returns is personally slightly off putting for me. I cannot really say I am confident in the TechBerry service mainly because there are no verified real account results published on the website. This should be the most important thing to consider when choosing any forex signal service in my humble opinion. I would love for them to add verified results and would be more than happy to update this TechBerry Review if and when they decide to do so.
I do like how it uses an innovative system which combines a significant amount of trader’s data to signal potential opportunities in the market. However, I feel like there are better options out there for those of you who are looking for a social copy trading solution. I also believe it is best to learn how to trade manually as this can enable you to build a bespoke forex strategy according to your own trading style and goals.
It is worth mentioning that there seems to be a lot of very critical TechBerry reviews out there, so please go careful and make sure you do your own due diligence as always.
TechBerry
From $500
6.3
PROS
- Automatic Forex Signals
- Vast Amount Of Data
- Traders, Individuals & Companies
- Various Packages Available
- 14-day Free Trial
- Dedicated Support
- Real-time Statistics
CONS
- MetaTrader Platforms Only
- Need Verified Results
- Limited User Control
- $500 Minimum
- Not Regulated
