Greg Secker Financial Freedom Through Forex
Piping dreams of a quick and easy road to financial liberty are being used to lure a new generation into risky, home-based strange exchange trading.
Job ads and social media posts are sweeping the country, telling Britons they can earn four-figure sums every month by spending just half an hr a day trading on the currency markets. Those tempted are invited to free workshops or webinars, which are used as a platform to sell expensive grooming courses.
Accompanying software, said to help customers larn strategies to pinpoint profitable trades, is too sold as part of the package.
I attend ii seminars to find out what is involved.
High ambition: 'Flight Trader' Greg Secker owns Learn to Merchandise
FREE WORKSHOP
A task advert inviting me to start out as a 'forex' trader – with no experience of foreign exchange needed, sounds great – if unlikely.
I can earn a second income straight away, become my own boss in half dozen months – and build a 'concrete and reliable' income using 'recession-proof strategies'. I give it a go, every bit information technology seems I have nothing to lose – the advert says initial training is costless.
When I click on the employ push button I am taken to a web page where I sign up for a free two-hr workshop with Acquire to Trade.
My session takes place at a hotel in Stratford, Due east London. Our group of xviii men and women of all races and ages enter the doors of one of the hotel's suites to the dramatic and rousing soundtrack of Rob Dougan's Clubbed To Death.
When the music stops a brief risk alert bulletin is played over the speakers. We are then shown a slick video about the origins of Learn to Merchandise and its founder – businessman and 'Flying Trader' Greg Secker, who is known for completing trades while flying in a helicopter and donating commissions to charity. We are told his opinions are much sought after, alongside those of Donald Trump and Bill Clinton.
The video then cuts to footage of Greg the philanthropist – in a jubilant mood at a ceremony in which a hundred new homes in the Greg Secker Foundation Hamlet were formally handed over to their new residents in the Philippines.
The backdrop were built for families displaced by Typhoon Haiyan in 2013. Afterward the video, presenter Gurdas tells u.s. that joining Learn to Trade was a 'no brainer' for him and that the coin to be made is very attractive.
Buzz: The sites claim to bring the energy of the trading floor into homes
He asks the attendees why they are here today. 1, Dwaine, wants a better life for his family. Nosotros are all assured that trading can fit around our family commitments.
Gurdas and so says he can put us in the same buzzy environment equally professional person traders in the Metropolis – though I imagine this would crave some pause of disbelief.
As an added sales push, Gurdas says he is overseeing a 'special projection' and wants to recruit fifty people for information technology. He has been presenting a few seminars around the country in a suspension from his usual routine, we are told, because normally other people are hired to deliver these presentations.
A search on the internet later on suggests this is a tried and tested line.
The workshop focuses on everything that nigh of us desire – more than time with family, less time in the part, financial freedom from the mortgage and bills, a bigger domicile, money to pay for a wedding, enough to run across children's school fees, secure futures and more holidays. The implication is that forex trading will brand the necessary cash.
At that place follows an introduction to foreign exchange trading. It covers 'pip' – a measure of motion in the substitution charge per unit between a pair of currencies – chart trends when prices motion up or downwards and how Learn to Merchandise'south 'buy, hold or sell' system works.
Stop losses – used to limit losses when a trade does non go your way – are besides discussed.
And then information technology is back to the hard sell. Apparently the word 'chore' stands for 'just over broke' – and aspiring to a salary of £40,000 a twelvemonth only serves to cap our ambitions. That figure is unlikely to be enough for us to reach our goals.
The side by side video is of offices effectually the world where the visitor'due south traders gather on the trading flooring. Every now and once more I spot the logo 'Unlimited Wealth' on screen – the proper name of some other course offered to pupils willing to pay for it.
Dramatic music is played equally nosotros encounter people in an office poring over computers and chatting.
Gurdas tells u.s. that as role of the 'special project' he is overseeing we can access heavily discounted grooming, mentoring and software for £1,997 plus VAT, a reduction on the usual price of £half dozen,995 plus VAT. This is our only financial commitment, we are told, though nosotros practice need to fund a trading business relationship to go started.
Hard sell: The seminars focus on participants' desire for wealth
The account it recommends is with Capital Index – a broker besides owned by Secker. When I bank check its website later I observe it admits 79 per cent of its retail clients lose money.
Gurdas says he will not be repeating his offering as 45 places have already been filled – meaning at that place are just five spaces available for the 18 of us in the room.
The select few will besides be asked to participate in a charity issue and share their progress over 12 months with a few words to 'inspire others' for a new marketing campaign.
I decide not to take upwardly the offer but, equally I exit, I see Dwaine, the earnest fellow who said he wanted a better life for his family, brand a beeline for the forms and start filling them in purposefully.
I am non convinced and turn my attention to the wealth of other firms offering trading software and forex training via job listings, pop-upward ads and Facebook posts.
One popular-upwardly advert comes from Trendsignal, which suggests I can earn a four-figure sum monthly from forex trading – and this fourth dimension I do not even need to leave the house to get started.
There are a wealth of firms offering trading software and forex training via job listings
A Gratis WEBINAR
I take part in Trendsignal's free online webinar to observe out more than nearly its 'Sniper trading strategy'.
This is a less slick production than the workshop, but towards the end transformed into the kind of upbeat sales pitch you hear on Goggle box shopping channels.
A 'complete package' costs £3,300 plus VAT. Refunds are immune for those who change their minds in the showtime two weeks. Traders tin too choose their own banker. Just rather than part with my cash, I contact a quondam educatee whose testimony is on Trendsignal's website.
Lisa Beaney says she is satisfied with the packet and claims to have earned a supplementary income from trading. The professional lensman says: 'It gives you a set of rules to follow and overall it fabricated me money.
'You exercise have months where you make a loss simply the other months make upwards for it and Trendsignal is quite open about this earlier you start trading.'
She says the downside is that while Trendsignal got her interested in trading and she found the software useful, she had to put in a lot of fourth dimension and endeavor herself – swotting up on brokers, the markets and charting options.
Trendsignal boss Adrian Buthee says: 'We teach a specific set of rules for people to follow and cautious gamble management techniques. Nosotros make sure to do things in an appropriate and fair way.'
He describes advert via job websites equally 'inappropriate' and says this is not something his house does.
But he adds: 'We use webinars every bit a fashion to reach individuals across the world who are interested in learning to trade the markets. Our customers tend to be aged around 55 to sixty and accept ane middle on retirement.'
James Mathews, head of Learn to Trade said: 'In the past yr we take taught hundreds of people at our trading centre a range of strategies and tools to assist them kickoff trading the market.'
The house says traders never hazard more than 2 per cent of their account on a unmarried trade. A spokeswoman adds: 'People do turn up and lose money only it is normally those who have not followed risk direction rules.'
WHAT IS Really BEING TRADED?
What many dwelling house-based forex traders are entering into are contracts for deviation, or 'CFDs'.
At my Larn to Trade workshop, the risks arising from CFDs were mentioned only briefly, just before the presentation began.
Only this is maybe the most important information. No currencies are physically endemic and traded – the customer is substantially betting on the price movements on a currency pair.
Then they may be putting a wager on whether the price of sterling will rise or fall against the The states dollar in a set period.
They identify their 'trades' with a banker, who takes a cut. They can as well add a 'stop loss' to limit potential losses if the price of a currency falls too low. European regulators recently stepped in to protect novice customers from the downsides of CFD trading.
Restrictions brought in this month include preventing customers from losing more money than they put into their trading account. This safeguard volition exist in identify for iii months and could be extended or adopted more permanently.
The Financial Comport Authority, which oversees financial services in the UK, 'fully supports' the new rules, which aim to cease customers from unknowingly taking on too much take a chance.
Information technology comes subsequently inquiry showed that upwardly to 89 per cent of customers across Europe lose coin on CFD trades, with losses ranging from £1,400 to £26,000 per account.
WHO SHOULD Gamble Information technology?
Laith Khalaf is senior analyst at Hargreaves Lansdown – a banker for traditional, long-term investors who desire to invest in Isas, funds and shares. Information technology does offer CFDs, but simply to 'agile and experienced investors'.
Khalaf says: 'Currency movements are notoriously difficult to predict with whatsoever accuracy and that applies in spades at a time when Brexit, politics and the potential for merchandise wars are causing ructions in global markets.
'Buying and selling currencies is a risky business. This isn't an area for first-time investors.
'Getting rich slow is a far more reliable strategy than getting rich quick, which can frequently lead to rags rather than riches.'
Moreover, 'buy before you lot try' courses are a plush outlay for novices who proceed to realise that trading is not for them.
My verdict: Heir-apparent beware!
Source: https://www.thisismoney.co.uk/money/investing/article-6050545/Exposed-trading-courses-peddle-expensive-pipe-dream.html
Posted by: fordboyabseut48.blogspot.com
0 Response to "Greg Secker Financial Freedom Through Forex"
Post a Comment