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Fxcandlepredictor.com Review: Is FX Candle Predictor a Scam?

Fxcandlepredictor.com Review: Is FX Candle Predictor a Scam?

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FX Candle Predictor is a Forex indicator that was developed to correctly predict the direction of the next immediate candle stick. The developer also claims that FX Candle Predictor is the most accurate Forex trading system out there which automatically makes money regardless of whether it is being used by an experienced or novice trader. If you’d like to utilize the software in an automated mode, FX Candle Prediction will suit this need as it is bundled with an expert advisor as well.

As always, this is a vendor that does not provide information about who they are, where they are located at and what trading or development experience they have. For that reason, we decided to investigate further to try finding out who owns the website where FX Candle Predictor is being sold at. Our who.is research discovered that this Forex trading system was owned by a developer who has other products in the Forex market place. These included  Forex Reversal, Forex 4 Capital, forexebook.net, and the Forex Lasers forum. In the near future, we are hoping that this developer will include these details on their website to help win more trust among their audience. As of now, it is not helping to push a product out there while not providing pertinent information regarding the background of the people who created them.

FX Candle Predictor

Also, in order to get in touch with the owners of FX Candle Predictor, the website has provided a contact form that can be used for this purpose. But for those of you who are already feeling skeptic about the entire website and the developer who owns the trading indicator, our advice is that they should utilize products that we have listed on this particular page since they are more trustworthy and credible compared to what we are trying to review right now.

FX Candle Predictor review

According to the developer of this trading system, the right trading tool is a system that combines a special blend of technical analysis with proprietary trading algorithm. Because of this, they do believe that FX Candle Predictor offers traders a statistical advantage that those who don’t use it may not have in the Forex market place.

They also claim that this software has 3 aspects of operation which makes it the best indicator out there. The first aspect of the trading indicator is that it provides 5 minute time frame signals where traders will be able to buy or sell within this time frame. They claim that this approach would be beneficial to those who want to trade binary options as well as scalpers who want to get in and out of the market fast, taking small profits each time they do so.

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The second feature is called power precision which is a special algorithm that analyzes various currencies simultaneously so that it can provide accurate data concerning the pairs it intends to produce signals for. The third aspect of the software is the feature that lets it send mobile alerts to traders who want to trade on the go. This applies to those who are using mobile devices and tablets as well.

However, the second aspect of this software did not come out quite well as the vendor failed to give a detailed explanation of what they meant by power precision. The description of this feature sounded vague in the first place.

In terms of accessibility, we believe that FX Candle Predictor should always be utilized on a PC rather than in a mobile device or a tablet. This is because we are looking to scalp on a 5 minute time frame. A mobile device is just not the right platform for trading using this style.

Break down of the details of this indicator

By now, we know that this is a Forex trading indicator. The price however is Price: $599 + $19 yearly. The method of trading is mainly technical analysis and signals are issued on the 5 minute time frame. The pairs which they are planning to trade include EURUSD, USDCHF, GBPUSD, USDJPY, EURJPY, EURAUD, CADJPY, NZDUSD, AUDNZD, AUDJPY, NZDJPY, GBPJPY, USDCAD, AUDUSD, EURGBP, EURCHF, GBPCHF, GBPAUD, EURCAD, CHFJPY, AUDCAD, EURNZD, NZDCHF, NZDCAD, AUDCHF, GBPCAD, CADCHF, and GBPNZD.

Obviously when you see the price tag of this indicator, you will know that it is the most expensive Forex indicator that one can ever buy. Does this mean that it is special compared to the other Forex indicators that have flooded the market? Maybe or may be not. We feel that this pricing model is quite weird and is a marketing ploy to try make this product look like a quality trading tool. One of the things that vendors will use to play with your psychology is the pricing of the product. If it’s costly, it simply means that people will believe the products is of quality. If it is cheap, people will tend to believe that the product is of low quality.

FX Candle Predictor also offers a ”free” expert advisor bundled with this indicator. However, if you consider the price tag, it simply means that the price of that expert advisor has already been factored into the overall price of the indicator.

The other concern is that this product is weirdly priced as traders are supposed to pay $500 in the first year and then $19 in the subsequent year if they’d like to continue. It would have been good if it was the other way round.

Proof of profitability

Having looked at what they are presenting as trading result, we feel that this vendor did a poor job. Other than back tested results, there are no other results which we can look at to conclude that FX Candle Predictor is profitable. For that reason, the developer simply needs to address these concerns before pushing this product into the market.

Our best advice for you

We cannot recommend FX Candle Predictor at this time because there is no trading result to justify the price tag. It’s very difficult spending $600 on a mediocre product like this one. Stick to these trading tools instead.

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