Forex Crystal Ball is a forex trading system developed by Vladimir Ribakov, a professional trader and technical analyst. The software works as a manual trading system and utilizes customized MetaTrader 4 indicators to “improve” your chances of winning a trade.
The application was built to help provide “accurate” market predictions for traders. This means that users do not need to go through the trouble of doing their own analysis, as the app generates analysis based on several trading (around 50) indicators. Traders receive analysis posted by Forex Crystal Ball via SMS and email.
Once traders have received an analysis, they can go ahead and place a trade based on the predictions that Forex Crystal Ball provides. Asides forex signals and expert analysis, traders are also offered various trading tools and utilities to enable them to trade with confidence. As a result, the app is designed for both beginners and advanced traders who cannot find enough time to conduct their own analysis.
Forex Crystal Ball sends a tunnel indicator, as well as buy and sell action zones indicating the perfect areas to place buy and sell trades. It is also claimed that the software gives traders an opportunity to minimize risks while trading by simplifying the trading process, providing money management tools and an excellent risk-reward ratio that enable them to make profits on a consistent basis.
Traders are advised to use an ECN broker that offers low spreads and fast execution to reduce risks and increase successful outcomes. The system can be used on any timeframe and currency pair.
But while its marketers have done a good job of hyping up the product, is there any major red flag that shows the trustworthiness of Forex Crystal Ball or lack thereof? Read further to find out.
Forex Crystal Ball: To Trust or Not to Trust?
We have reviewed certain metrics about the Forex Crystal Ball to determine whether the software is one to trust or not to trust. Our review has found that we cannot trust the Forex Crystal Ball software for the following reasons:
Ghost Identity of Creator
The identity of the creator is not fully established. When you look up “Vladimir Ribakov”, the Forex Crystal Ball creator on a Google search, it is difficult to come up with any tangible seqarch result which establishes his identity. The fact that he’s associated with fake mini-sites and wiki-pages makes one question his true identity.
No verified trading results
The Forex Crystal Ball sales page makes big promises without posting positive trade results to back up their claims. Like most scam forex signal services, Forex Crystal Ball does not have verified trading results on sites like Myfxbook.com, ForexPeaceArmy.com or any credible website. The company is always quick to point to its MetaTrader backtests, which can easily be falsified and which do not paint any picture of accuracy.
Conclusion: Forex Crystal Ball is Not to Be Trusted
With all the red flags above in mind, it is evident that Forex Crystal Ball is not the service you would want to follow. Forex Crystal Ball developer, Vladimir, runs another product, Traders Academy Club, which has its domain registered from Panama, anonymously.
VladimirMarketsForecast.com, Ribakov’s placeholder-type homepage is also registered in Panama. In the FX industry, registration of companies in such offshore locations sets off alarm bells. To follow an offshore company with no verified trading results is to trust your money in the wrong hands. Therefore, Forex Crystal Ball is declared a software not to be trusted.