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Indicator Review: Wizard Forex System

Today I’m looking at a Forex indicator claims to give traders the opportunity to become a successful trader, while earning pips easily, Wizard Forex System. While the sales page makes the software come across like it was released over 10 years ago, it’s actually only been on the market for three. The reason I’m reviewing it today, is because I keep getting spam emails in my inbox directing me to the sales page, so I figured I would take a closer look, and let you know if it’s worth your while.

According to the sales page the software is developed by Joe Donaldson, a trader who claims to of been in the business for over 12 years. While this information is provided on the sales page, these WHOIS domain info places Joe Donaldson’s company headquarters at S Western Ave, Sioux, SD, 57104, US. To get in touch with support, traders can email support@wizardforexsystem.com, or phone 16059018943.

Wizard Forex System Review

I mentioned above that the Wizard Forex System comes across like a product that was released in the early 2000’s, and I am consistent with this message as I make my way further through the sales page. From the old design, to the way that the developers present information, this product is a total throwback. The issue with this approach, is that vendors used to spend way too much time selling the dream, instead of focusing on real hard facts, which is what the marketplace in 2018 demands. So, instead of telling us how this software works, and what type of strategic elements it is taking advantage of, we are left with they commentary that tell us that this is one of the “most accurate ways of making profits Forex.”

In looking at the software on the charts, we can see that this is an indicator, the monitors 5 different time frames, M5, M15, M30, H1 and H4. The system is also built to work with every single currency pair, and “any other style of trading,” including scalping. It looks like the vendor is trying to sell us a dream, because they are telling us that the software is compatible with everything under the sun. Now, if you have any experience in the Forex market, you will know that one simple indicator is going to be capable of trading every single strategy, currency pair and timeframe, without an expert trader sitting behind a desk analyzing every single signal that comes through.

This indicator comes across like it’s trying to do too much, which we’ve seen in the past with other indicators like Newgen Trades, Currensys and Pipbreaker.

Breakdown

  • Type: Forex Indicator
  • Price: $87
  • Strategy: All
  • Timeframe: M5, M15, M30, H1, H4
  • Pairs: All (majors recommended)

According to the sales page traders can access the Wizard Forex System during an active limited time offer at a discounted rate of $87, whereas the software is regularly $199. While this may be true, I have a sneaking suspicion that the software is always $87, and that the price has never changed. This really has no bearing on the overall product, or its performance, but this is just an observation.

Trading Results

While there are multiple screenshots, there is nothing to suggest that the Wizard Forex System is a proven trading product. There are 4 live trading screenshots, but they don’t show us any continuity whatsoever. 2 of the screenshots are in 2016, and the other 2 are in 2015. The developer could easily be cherry picking these trades, because they are so far apart, and don’t even use the same pairs. The only thing that these screenshots show, is that the software can pick winners, not that it only picks winners.

Below the screenshots, is an image from MT4 showing us an account history where the software supposedly made over $19,000. There is really no way for us to verify if this screenshot is true, and is also quite odd that the developers decided to omit the time and date of every single trade on this list.

The trading results section is extremely lackluster, and the vendors need to look into providing trading accounts shared with statement sharing services.

Conclusion

With the combination of no real trading results, and no real strategic information, I’m not going to be able to recommend the Wizard Forex System to any of the Forex Robot Nation readers. The vendors of this system need to update their approach, and enter 2018, as their entire sales page and marketing process comes across like something in the early to thousands.

If there’s anything you would like to add or contribute to this review, please comment now.

About Patrick Ryan

Patrick is a Forex enthusiast, with over 10 years of experience in finance, and market analysis. He's eager to help traders achieve their investment goals, whether they are short or long-term. Patrick's penned thousands of reviews, and is always available to discuss trading with anyone who's interested.

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