The tagline of this site is ”Master Forex trader reveals his exclusive system anyone can use to make money in the next 24 hours.” Immediately we saw this statement, we knew that Magical Forex was a scam. It is marketed as a simple trend trading system that is successful and profitable and yet there is no sufficient evidence to prove that indeed Magical Forex works as described.
The system is presented by Alex Buzby who tells his audience that the system he has developed is very simple to use and that we will not believe it. One of the striking promises in the promotion content is that this is a low risk trading strategy. Mr. Alex claims that he uses a couple of indicators to trade the Forex market and that he never uses weird theories like Elliot Waves.
First of all, Mr. Alex is anonymous, and his trading prowess cannot be verified despite searching the internet all day long. Chances are that Mr. Alex is just a character and the real owner of Magical Forex is hidden somewhere in this planet. Because they are not transparent enough to say the truth, you should not expect anything good to come out of this landing page.
So we don’t trust this Mr. Alex and his trading product. The reason we are reviewing Magical Forex is simply because the site looks attractive and luring enough to cause significant damages. If you almost fell for the lies, you need to read this review to the end to see what the site is all about and why you should not use Magical Forex for any reason.
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The sales page of the Magical Forex system is also promoting a separate trading system which the vendor calls exit strategy. This strategy is offered for free when you sign up with your email. It’s a very common sales tactic in similar trading products which can be found everywhere across the internet.
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The main product costs $97, and comes with an unconditional money back guarantee. We do not believe in money back guarantees. It’s your job to do some due diligence before you can buy a trading product on the internet. The fact of the matter is that no retailer is always willing to refund so fast without erecting some barriers along the way. So the best way to survive is to do your homework because once you push the buy button, you will be making the final decision with regards to that product.
In addition to this, Magical Forex comes with two additional bonuses which the site claims are valued at $99.98. This is just a sales tactic to spruce up things and make you buy without giving it a second thought. Truth is that trading products are not like your regular internet products. You do not need bonuses with your orders.
Although the sales page is filled up with promotional content which is mostly vague and generic, we still manage to pull out a few things which are worth including in this review.
The strategy teaches traders how to enjoy consistent returns using easy to follow techniques. It also teaches tricks to spot which currency pair is ideal for investing on long before other traders can spot the opportunity.
Other supposed benefits include the following:
The list is long, but one thing stands out from this list. There is nothing concrete that the vendor is telling us other than making countless promises in list format.
The Magical Forex system has a win rate of 60 to 65%. It is important to take note of this claim because win rate influences returns in one way or the other. But win rate alone cannot be used as a determinant factor for choosing a trading system. Even if you had 90% win rate and draw down was 50%, you’d still blow your account. That’s a fact that many traders do not know.
We’d like the author of Magical Forex to address this issue before we can ever trust that they are selling a genuine trading system. Win rate alone cannot persuade us to invest in the trading system.
Note that the developer does not give an elaborate description of the working of this trading system. They do not give an explanation of their trading methodology, and so we do not know what type of experience they have trading the Forex market place.
We don’t like investing in trading products that are shrewd in mystery. The author is instead filling up this sales page with promotional material which is 99% promises and 1% real content. This isn’t helpful, and is not the way to go if they want to built trust for their products. We still believe that the author has a long way to go in terms of transparency. They need to verify who they are, what type of trading experience they have and whether or not this product has performed well in the past.
With regards to the question of whether or not Magical Forex is scam, the most accurate answer would be to avoid it altogether since we have seen several types of these products before, and none of them has ever helped a trader find success.
Spending $97 on a Forex trading product that has no verified trading performance is not a wise idea. We need to know how implementing this system is like as a Forex trader, something that wasn’t captured very well. It’s therefore safe to stick with these Forex trading systems.
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