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Fibo Quantum Review: Scam Forex Indicator?

Fibo Quantum Review: Scam Forex Indicator?

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Fibo Quantum is basically a technical analysis-based charting solution with an element of automation incorporated into it. This trading tool was released on April 2018 by a famous yet notorious entity called Karl Dittmann. The software is allegedly engineered to work with a variety of currency pairs in the Forex market. It is supposed to produce highly profitable signals.

Definitely this is not the only software that Karl Ditmann has created. Apart from Fibo Quantum software, he has created other technical indicators too, some of which we have reviewed in this website before.

The Fibo Quantum software retails for $147 per copy. But the question that enthusiastic users are asking is whether it is genuine or another cash grab? If you are that kind of person struggling with a similar question, this factual and detailed review of the Fibo Quantum software will give you a comprehensive answer. However, if you were just looking for a reliable automated Forex trading tool to get started with immediately, consider this list of Forex trading tools for newbies.

Fibo Quantum software

As we have said before, Fibo Quantum is a trading solution functioning as a Forex indicator which can be downloaded. The software supports a variety of Forex currencies and is allegedly going to be profitable for you because it combines ”next generation trading algorithm” with built-in fibonacci technology.

fiboquantum

At least those are the claims made by Karl himself. The alleged algorithm of this software was developed for many years which Karl says took a lot of analysis in order to come up with a completely functional algorithm for trading. What surprises us is that despite claiming that this software has taken many years of hard work, he is just charging a price of $147 to sell a copy.

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For you to utilize this trading indicator, you’ll need to have a Meta trader 4 charting platform as well. That means looking for a reliable broker who is also offering this platform for trading.

Also, whether MetaTrader 5 is supported is not clear. However, we suspect that the Fibo Quantum was built to function with either of these platforms. But we would surely appreciate some clarity with regards to this question.

Who is Karl Dittmann?

If Karl claims that he is an expert in designing and producing Forex trading indicators, he must prove to us who he is and what he does.

Thankfully, if you have been around the industry for some time, you will know who Karl is. He is a very infamous entity out there.

This guy is infamous for channeling many Forex trading indicators and software. He appears to be more concerned with creating many software than focusing on performance of those apps. Most of his indicators are copied from his previous work. Only branding changes. But the main algorithm remains the same despite marketing with a very powerful sales pitch that would persuade anyone to try out the software.

Karl himself claims that he is an experienced Forex day trader who has amassed wealth from his trading activities in the Forex market.

So far, this man has released dozens of these trading indicators. Community consensus suggests that he is a shady character. But at the same time, we haven’t come across incriminating evidence suggesting that he is a scammer or something close to that. However, we know that many people complain about his indicators after buying them.

In the Forex Peace Army forum, Karl Dittman has been called a con artists who has specialized in deceiving traders who are inexperienced. Karl has maintained a Twitter profile which we went through just to see if we could sense anything that would contribute towards his credibility. However, due to lack of transparency, we couldn’t gain much from his twitter account.

Fibo Quantum review: How does it work?

It’s basically a customized expert advisor which automatically begins to pick up signals when incorporated into the live Forex chart.

According to the website where Fibo Quantum is hosted at, this technical analysis tool reads market conditions using its algorithm to predict future direction of a currency pair with ”great accuracy”.

Those who utilize the Fibo Quantum tool can set up alerts so they can receive them by email or through their mobile devices. Signals can be generated on various time frames ranging from 15 minutes, 30 minutes, 1 hour all the way to 1 day time frames. Because this is supposed to be a Forex trading tool, it naturally incorporates Buying/Selling options as well as take profit and stop loss features.

However, the website fails to tell us the accuracy percentage of the Fibo Quantum tool. Furthermore, there are no past performance to help us gauge how accurate this trading tool really is.

We find it disturbing that despite Karl Dittmann saying that this trading tool is profitable, he cannot show us any past performance. We would take this to mean that Karl has never personally traded with the tool which he is now selling for $147.

So, is Fibo Quantum safe to use?

We can say that this trading tool isn’t safe due to lack of overall transparency, accountability and also given that Karl Dittmann has had a shady reputation before. The website has failed to demonstrate the previous success of this trading tool for any length of time. So on what basis should we trust it? It’s impossible. Also, when we look at what people say in these forums, we find reports of people not being able to secure refunds after paying only to realize that what they paid for was crap.

Based on these findings, we can say that Fibo Quantum isn’t a safe tool to use. If you ignore these things, you will probably gamble away your money, thanks to an indicator that does not have past performance to prove its efficacy.

Our best advice for you

The best thing to do is to use the trading robots mentioned above. We don’t feel very confident about Fibo Quantum or any of its associated trading tools. You must avoid this Forex indicator.

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