Forex Trading Course

I have friends that asked me whether it is possible to make money by trading forex, because i have been trading Forex for almost 2 years already.

Every day, you can see advertisements promoting forex trading (or other instruments) seminars with the promise of making a full-time income using the techniques they teach.

I have attended one of the seminars by FX1 Academy that guarantee at least 65% successful rate. ie. when you trade 10 orders , 6.5 orders is a winning trade. After attended the seminar, i signed up the training course, and schedule to attend the night class.

During the night class, we were taught the ABC Strategy that is so called proof strategy. After attended 2 lesson, FX1 instructed us to practice using the demo account for 6 months. However, during the first and second month, my results were already having only 30% success winning trade. But the fx1 told me this is "normal" and told me to continue practice.

After 3 month or so, i contacted FX1 again and complain about their strategy and got no reply and support from them . But they claimed to say they have trainer to have 1 to 1 coaching before i sign up the course. I was so frustrated about the FX1 academy and eventually after 6 month of demo practice, i demand to them for MBG (Money Back Guarantee ) .

However, they give a lot of Terms and conditions that made me even more frustrated. I told them that if they do not return me the MBG, i will raise the issue to CASE to investigate. In the end they offer me back my course fee.

I would suggest that if anyone wants to attend the seminars, pls be aware that most of the trainers are also previously student from some Forex school, and after with a few years of trading experience they come up to organise the trading class. Personally, I think this is all money making without any promise.

When you sign up the class, they are already making money from you. Imagine 1 student cost $4000, 50 student to sign up and attend the night class is $200,000 for 2 lesson or maybe 6 lesson. This is only 1 batch on student, if they were to conduct lesson for 2 batch per week , their income will be $400,000 per week. It is better than trading FOREX. Also, by attending a few class will not make anyone a consistently profitable trader. It takes much more than that.

I would advice anyone to reconsider if he or she wants to sign up for the course. there is no such training and programmes like Guarantee earning or profit from Forex. Furthermore, course fee normally ranges from $2500~$5000. My last attended course fee was $4000, after so called this and that discount like sofware developments, instant sign up offer, Strategy development etc.....

Do not get fool by all this gimmicks and tricks. Think before you sign up , and at this point of economics downturn, Keeping $5000 on hand is KING.


Did anyone of you got and similar experience like me ? care to share your experience ?

Hopefully, i hope MAS will one day start regulating such kinds of advertisements.

Genneva’s gold scheme draws brickbats & bouquets

In Malaysia a strange gold scheme is winning hearts of many customers and it is spreading rumours that the scheme is a fraudulent one because it is logically not sustainable.

However, the business is thriving for Genneva Sdn Bhd, a company that sells gold coins and bars to the public, and more and more people are attracted to the scheme now.

Even though there are allegations that the project is a ponzi scheme, the company denied it vehemently saying that their project is very much safe and it can sustain any market fluctuations.

The group’s arguments is that their scheme is uniquely profitable, viable and sustainable business because its product, which is gold, is a safe haven in any time of uncertainty and is not subject to wild fluctuations in price in the world markets.

Genneva’s business model enables customers to purchase physical gold at a discount compared to domestic market prices. The company also provided a conditional buy-back guarantee for the purchase at the same price that the customer had paid for the gold. Genneva sources its gold needs from the international market, where prices can be lower by as much as 17% compared to the recommended retail selling prices by the Federation of Goldsmiths and Jewellers Associations of Malaysia.

The firm then sells its own issued gold coins and bars to the public at a discount compared with prevailing market prices set by the federation. It still would make a profit on these sales.

The company provides a conditional buy-back guarantee for purchasers who may want to resell their gold after buying it. The company is still able to generate continuous income from its profits made from trading gold to enable it to repurchase gold from the customers if they wish to sell it back to the company.

Under the scheme, Genneva’s obligation is to buy back the gold at the same price without discount after a 90-day holding period. There is a week’s grace to sell the gold back to Genneva. Any sale back to Genneva before or after 97 days will be at lower prices to be negotiated.

Genneva gives a discount of around 5% on the domestic market price set by the federation. The discount is paid either at the time of purchase or up to three months after that in instalments.

Genneva guarantees the standard and purity of all gold coins issued by the company as 99.9%. This means customers can also sell their gold coins or bars purchased from Genneva at any goldsmiths that accept gold trade-ins.

Genneva said the company’s business of buying and selling physical gold does not require a licence to operate from Bank Negara.

On June 28, the group formed Samudra-GV Sdn Bhd with a vision to open up the gold market to Malaysians of every race and religion by making the product available to people from all walks of life.

Will Gold Go higher Again ?

Gold has a long-running history as a safety net during times of financial difficulty, a method of preserving and actually growing wealth as other sectors in the economy go into decline. It's a see-saw battle that's been going on since antiquity. Unfortunately, the two sides of the see-saw remain in perpetual conflict as investors have to make either one choice or another.

Right now, that see-saw is clearly swinging in the direction against business and industry. While certain biased sources will tell you otherwise, the choice really is pretty simple. You can either fight the see-saw and lose what you've earned, or use the mechanism to your advantage and gain while most everyone else watches their savings decline in value.

I am satisfied to wish everyone else the best of luck in seeking a better store of value in fiat currencies. I, however, will be owning gold.