Siby Varghese is a man of the Asian origin offering a Forex education course ($99), two expert advisors, a managed account and signals service.
He claims that his Forex pro course can earn traders between $50 to $1000 per day.
We don’t know which parameters these numbers are based on. Siby Varghese’s sales page appears to be making too good to be true promises.
Siby Varghese is currently selling two expert advisors (PIP SNIPER AI and SYSTEMFOREX AI) for $500 and $1250 respectively.
This is an abnormal price tag for a Forex robot, so we’ll be looking to establish whether Sibyvarghese.com can provide us with verifiable trading performance just the same way vendors of these products have always proved skeptics wrong.
Pip Sniper AI and System Forex AI robots require a minimum deposit of $1,000 and monthly returns are between 10% to 40%.
Apart from telling us that the two Forex robots can scalp, hedge or use averaging strategies, Siby Varghese also claims his expert advisors can withstand a big crash of up to 700 pips.
Up to now, we still do not know why Siby Varghese is selling his EAs while making very bold statements that he will be required to provide proof of.
Also, Siby Varghese claims to be an award-winning Forex trader and the best fund manager.
He is a self-proclaimed millionaire trader who started trading in “2010 using $100 which was given to him by his girlfriend”.
The website is generally made up of vague sales language and promises that are just too good to be true.
The trading systems found at Sibyvarghese.com are also unreasonably priced, and there are also unnecessary setup costs which makes us wonder whether this is a serious trading systems provider or a cash cow for enriching the pockets of Mr. Siby.
Is Siby Varghese Legit?
Unfortunately, we don’t see anything legitimate about this developer or supposed Forex guru.
The owner of this website has even confessed on his website that he has been running a ponzi scheme.
He is also the owner of LearnForexAnalysis.com website.
Apart from this, he uses a lot of videos that have been outsourced from Fiverr to make his products or services seem legit.
The marketing part of it is just a dead giveaway since Mr. Siby is clearly deceiving gullible investors into believing he is rich because he trades Forex.
He shoots videos of himself in expensive rides and mansions. He even sets up fake media interviews to give the impression that he is legit.
Furthermore, we’ve looked at his myfxbook accounts to verify his trading performance.
Most of those accounts are no longer active and the figures have also been manipulated to make the accounts look profitable.
His tricks are diverse. He adds money into his trading account from time to time to make the equity curve rise.
Drawdown for some of his trading accounts are as high as 56.14%.
How can you surely say Siby Varghese is legit with all these red flags?
Siby Varghese is just another website meant to sell you an unrealistic Forex trading system based on elusive dreams.
We must avoid these get-rich-quick websites because they are clearly a scam.