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Forex Monarch is yet another scam company posing as a Forex indicator. The indicator is a product of Karl Dittman. Karl Dittman is famous in the Forex space for his scam operations. Over the years, he has released several Forex trading systems that have turned out to be scams.
With this one, he is guaranteeing traders accurate and profitable signals. He is targeting novice traders by promising an easy and straight forward trading approach.
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You should always ensure you do thorough research before investing in trading software. Many companies have no interest in serving your needs. They want to wake off with your hard-earned cash.
Trading systems are merely as good as the person running it. Therefore, you should only invest in companies run by experienced individuals. Moreover, ensure that they have verifiable identities.
This company lacks transparency in the most critical areas. For this all and many other reasons, we cannot recommend it to you. This review will reveal why this Forex indicator is not trustworthy.
Ensure that you only use the best Forex indicators that exist in the market. That is the only way you can make real money without compromising on your peace of mind.
Forex Monarch Review
All you can do to start using this indicator is to integrate it with MetaTrader 4. The indicator is being promoted as the best MT4 indicator that exists. Additionally, the creator claims that the software works on all currency pairs. The indicator works best in the M15, M30, H1, H4, and D1 timeframes.
Karl Dittman claims that this indicator will earn you hundreds or thousands of pips per month. The screenshots featured on the website shows very high pip returns. With such returns, you would become a millionaire in no time. If this seems too good to be true, it’s because it is.
The firm is using this promise to lure unsuspecting individuals into purchasing the product. Moreover, why would someone sell such a profitable system for just $147?
Apart from the indicator, the company is offering trading lessons to clients. The classes will teach you about the Fibonacci sequence. Karl claims that this course will make it easier for you to trade accurately.
What we see here is his desperation to extract as much money from people as possible. These lessons are not coming from a professional trader. In fact, we doubt he is an active trader. He probably wholly depends on money made from selling his products.
Karl Dittman also shows his desperation by urging traders to pour more capital into their accounts. He is possibly doing this because he gets a commission from the trade brokers he has partnered with.
Features
Forex Monarch provides traders with buy and sells signals for over 20 currency pairs. The software scans the market for price patterns to determine future prices.
The developer believes that this is the most straightforward Forex indicator to use. Therefore, he thinks it is ideal for both novice and experienced traders.
Along with the primary indicator, there is also a unique smart exit feature. This feature informs traders when there is a high chance of trend reversal, flat, or ranging market.
The software allows traders to execute trades in just 5 minutes. A trader can be profitable, with only a few clicks.
Additionally, the software does all the analytical analysis for the trader. He/she does not have to learn complicated calculations to become a successful trader.
Further, the software features multiple trading styles. This ensures there is a minimal probability for the software to miss a trade opportunity.
The developer believes that the combination of these features forms the most reliable indicator. Moreover, the indicator does not repaint.
How Forex Monarch Works
The developer gives little insight into the working of this Forex indicator. He does not reveal the market setups the software looks for to open a buy or sell signal.
All he says is that the software has a built-in algorithm that can precisely generate buy and sell signals. Additionally, he claims the indicator uses the principle of scalping.
We believe that anyone can say these things. There is no in-depth description of how the software works. This lack of transparency is inexcusable in the Forex industry.
Investors always want to have an insider look at how the software works before deciding to purchase it. That is the simply way they can know what to expect from the software.
About the Founder Karl Dittman
The name Karl Dittman is not new in the Forex space. The name is famous for bringing many scam software into the market. Moreover, this is not even a real name. It is just a pen name used by the creator of these systems.
The real creator has chosen to operate in full secrecy. There are many jeopardizes involved in dealing with unidentifiable people on the Internet. They decide to remain anonymous to avoid getting tracked down by the law, and this is a recipe for disaster.
Karl will take your money and deliver something that doesn’t work. Once many people realize this, he disappears and reappears later with another software that is just a clone of the previous one. He only changes the name.
Do not jump for the false promises of large profits. Enough people have already lost their hard-earned cash to this fraudulent individual. Run while you still can.
Fake Trading Results
The website features numerous examples showing significant profits earned by the indicator. However, these are fake results. Dittman is using these simulated results to lure unsuspecting individuals into buying his phony indicator.
Dittman admits on his disclaimer that these are not real results. He claims the numbers presented are simply estimates and projections. There is no way to trust this individual.
You are required to always be suspicious of companies that promise incredibly high numbers. If it seems too good to be true, it probably is. Moreover, when you see someone saying their system can pick most if not all tops and bottoms, you should know that is a scam.
Fake Customer Testimonials
As if the fake results were not enough, the website features numerous counterfeit testimonials. The affected customers present the indicator as to the most profitable indicator they have ever seen. These testimonials are yet another scheme to lure people into buying the indicator.
You can see the desperate attempt to convince people to buy the product. The website highlights words like ‘over 300 pips’ and ‘90% win rate’ using a red line. They are trying to make you ignore all other aspects and focus on those words. Do not fall for this desperation move.
Final Verdict
We cannot, in our right minds, recommend such a shady product to you. This indicator is jam-packed with red flags. Everything they are presenting to you is fake. The website features a phony name, simulated trading results, and phony customer testimonials.
Under these conditions, it is easier to lose your money than to make any returns. Save yourself some trouble and avoid this indicator like the plague.
As a general rule, keep off from products associated with the name Karl Dittman. They have nothing to offer you. They are just after your money. Ensure you only use the best Forex indicators in the market. Such legitimate systems have proven to work for a long time.
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