The Forex market is a hotbed of scams. And in as much as there are good Expert Advisors and indicators around, much of what is available out there is crap. Consider this highly acclaimed system called Pips Wizard Pro trend indicator (pipswizardpro.net). It is sold as the simplest to use yet very efficient Forex indicator that makes 200+ pips each day. But is this true? And is it a guarantee that you will make those pips so to speak?

Well, experience is the best teacher, and scams like Pips Wizard Pro system seem to thrive on the ignorance of the masses. Thankfully, we are here to warn you and change your perception concerning this Forex indicator. A careful analysis of this system indicates that it is not what it seems to be. Here’s what we know so far:

Pips Wizard Pro trend indicator review: a clever scam using a fancy name

Several users who fell into this trap ended up quitting after losing all their investment. This information is everywhere on the internet, spreading like wild fire and painting the name of this Forex indicator for what it is.

Pips Wizard Pro system promises easy money. The vendor says that it’s a unique trend indicator for buying and selling in all time frames. However, this is not true because users who have lost money to this system are confessing otherwise.

Even the 60-day money back guarantee which they are talking about isn’t real. That’s why users never get a refund. Instead, they were slapped with the website’s silly terms and conditions which say that the vendor will not be liable for any losses incurred as a result of using Pips Wizard Pro system. And by the way, this should be treated as a fair warning because it’s there on the website. Check out the screenshot below:

Unacceptable marketing tactics and non-existent customer service

We’ve said time and again that these marketing tactics are often used by internet fraudsters. The use of fake badges is the first indicator that we are dealing with a rogue vendor. Secondly, telling us that this is a once in a lifetime opportunity is like using a misleading statement to peddle a false product. The truth is that we have countless of opportunities to find and use genuine trading robots and indicators.

Furthermore, harrowing tales of retail traders who lost money with this push-button trend indicator have emerged on forums like Forex Peace Army, and they are really giving us good insights into what trading with this system is like.

One user said that he got a notification from Pips Wizard Pro to buy a currency pair involving the EUR. And when he acted, he lost 100+ pips. On the other hand, the updated performance on their official website http://www.pipswizardpro.net/?hop=online896 was 412 pips, meaning that this user ought to have secured some profits with this particular alert. When he inquired, no response was given. The scammer decided to ignore countless emails from this user. He is counting his losses till now.

What about the others? Probably they are numbering in the dozens if not hundreds. Not everyone has the time to complain anyway. But at least the few complaints which we have seen here and there are offering us a good clue into what this system really is.

Lack of evidence that Pip Wizard Pro never worked

We’ve learned that this trend indicator is being sold by someone called Karl Dittmann. Is this his real name? No one knows. The website does not indicate whether or not Karl is the developer. But we are less concerned with his details, now that we know he is peddling scams.

The thing is, we are not going to approve or promote any tool for trading that does not bring anything on the table. Look, Pips Wizard Pro system does not give evidence of past performance. What they are giving us is a bunch of mt4 screenshots, and they are telling us to celebrate because those results represent what Pips Wizard Pro has been doing in the last couple of months. But we consider this quite ridiculous. In fact, we are only treating these screenshots as claims and not verified results. We need credible myfxbook results which show the actual performance of various user accounts. Unfortunately, the fraud has not done that until now for reasons that are quite obvious.

Features of this buy/sell indicator are meaningless

Notice that the most important things like MyFXbook results have been left out. Instead, the vendor is concentrating on a list of features and benefits that this trend indicator is set to give anyone who subscribes to it. The sales pitch is basically made up of misleading statements and lies which even a 6-year old will not believe.

The intention is to hypnotize the potential user with promises that they will make a fortune and smile all the way to the bank because trading has, all of a sudden, become a walk in the park. Guess what, magic Forex systems don’t exist. If someone ever tells you that they have a system that makes 200+ every day without fail,  you should run! They are lying!

Other dangerous elements of this scam

Pips Wizard pro scam claims success which it does not deserve. Poor performance equals to poor signals. They say that their system will send notifications to your mobile device so that you can trade on the go. It surprises us when we learn that most users never receive any updates/notifications. Reason — ” their carrier can’t pick up those text messages until they (customers) can upgrade their plan.” So it is always a case of putting blames on their customers in a bid to make them (owner of Pips Wizard Pro) look innocent. This is one hallmark of a scam.

Final thought

This is a corrupt system that is run by someone who has mastered the art of stealing on the internet. Pips Wizard Pro has costed people thousands of dollars by initially promising them paradise on earth only to massacre their accounts. So if you do not want to become a victim of this or any other Forex scam on the internet, we strongly advice that you sign up for this reliable trading system instead. These products will give you a good head start as far as your trading is concerned.