Although I didn't buy it from the very start... I decided to open this thread in order to protect myfxbook.com members.
Recently I followed a link on a tweet of Rob Booker (an excellent author of books about trading)... the link took me to a page where a company claims that they would provide traders to trade their own money... $100,000!!!
It sounded too good to be true, but I always like to try to understand what's the catch! So I subscribed...
Some hours later a very polite guy called me... He asked several questions like: - Have you ever traded before? | Yes - Do you trade futures? | Yes - Are you comfortable with making $200-$500 a day? | LOL
.... after that he explained that their company will provide me with up to $100,000 of their capital to trade (since from our 2 minutes long conversation he understood that I am very capable of trading their capital), but before that and in order to protect their capital I must enter their educational program in order to learn their strategies... He was very fast to explain to me that there are many candidates but there is one open position for the program for this month ... the program's fee was $10,000 but if I was to decide immediately he would offer it for ONLY $5,000!!!
I told him that $10,000 and $5,000 are a lot of money for some online based education and I would like to know what exactly this program includes... He couldn't really explain and he was only emphasizing that after completion I would be granted $100,000 to trade with... So, I asked him:
'Am I paying the $10,000 fee in order to buy the educational program or the 'opportunity' to trade with your capital?'
After that he explained that he is not competent to discuss with me the details of the program and he asked me to arrange a net meeting with his manager in order to get the information I needed... I said OK and we arranged a net meeting for the next day!
Next day, exactly on time he called me again on the phone and he asked me to follow the 'GO TO MEETING' link on their page and passed me to his supervisor. Another guy started talking to me explaining to me how much money I can make with them etc etc and showed me some fake software through the net meeting which was showing me the net long and short contracts of futures instruments and he explained me when should I buy or sell based on them!!! Very very lame stuff.... He explained that this software is very expensive and bla bla bla and that's why the educational program has a fee... therefore I have to pay for it and then if they decide that I am competent to trade their capital ... they will grant $100,000!!! So, I asked him am I paying the fee just for a software?
He said NO we will teach you a lot of things... 'What things?' I asked.... He couldn't answer, so he passed me to a higher level manager (LOL!!!)...
The higher manager tried to explain some more... but unfortunately nobody there knew a damn thing about trading and when I continued asking him stuff he couldn't explain... Another guy started telling him on the background what to answer... but his voice was loud enough for me to hear!!! So, I told him that I'm hearing two different voices.... he blocked for a while and then he said: 'It must have been a connection problem!' LOL!!!!
Finally, after I got enough laugh... I told them that I am not interested and they quickly hanged up!
Although I didn't pay for the program (how could I?) and I can't prove that they are a scam... the text above gives you an idea about their trustworthiness... If you are an experienced trader... give them a try, ask them specific advanced stuff about trading and you'll see...
THEY USE WORLDWIDE BRANDS (they claim to be featured on CNBC, Bloomberg, FOX on their site) AND WELL KNOWN PROFESSIONALS (Rob Booker tweeted about them) FOR THEIR ADVERTISING SO YOU CAN EASILY BE FOOLED!!!
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