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I have recently invested an amount of money with an old friends high frequency trading company with an agreed interest rate of 10 percent growth a week in Forex trade before management fees and my friends are skeptical of this being a scam for a number of reasons(no website, fairly new company, only 2 years old). I have realized the agreed profits for the last month and want to know if this is sustainable. The money is being invested in another country. What is the likelihood of this being a scam, and what are the normal return rates for Forex trade investment? TLDR; 10% interest rate per week on Forex trade offered by former school friend. Possible scam?
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Should I invest in this company to learn forex trading?
Recently one of my friends that is equally into trading gave me a link for this company he has been practing with. Before I heard about this company I just liked picking his brain and having a back and fourth with him about what to do next etc etc. But I'm getting some bad vibes, ok so the company was just formed right? So I understand if they are a little new and don't have everything figured out. But certain things are seriously freaking me out.
YOU HAVE TO have a referral from someone you know, this is weird because they give you money the more people you refer, so if this is how they are making their money 1 sounds like an MLM, when will they stop focusing on trading and instead just focus on what their business is about? (This could be legit but I am very careful when it comes to MLM)
When speaking to the presenter, they never asked if anyone wanted to ask questions with a Q and A and just left a few of my questions unaswnered even though her presentation was all about how they answer questions and their course is awesome because its interactive…. so… that's a little sus.
They are offering trips to Mexico and things like this, which I actually like but I am also a little werieded out by, I feel like they might be using this as a crazy tactic.
So its only 20$ which isn't that much, however they don't accept things like PayPal or Venmo so they would have my actual information if I sign up for them, now is 20$ worth giving them this? What can they actually do with it… also is 20$ worth the knowledge they are going to give me? hmmm…..
What do you guys think about this? Have any of you actually been successful in not getting formal training?
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Why do amateurs get into forex instead of equity trading/investing?
Correct me if I am wrong here but Forex is exactly a zero sum game. Every winner has a loser for that exact amount. When you lose 1/6 of the pie, the guy at the other end gains 1/6 of the pie. With stocks/equities, it is almost the same concept BUT...over time the pie slowly grows. So why do newbs and amateurs get into forex???
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24 FxStock is a regulated forex broker, dedicated to providing its clients with tailor-made trading solutions, regardless of prior knowledge or experience. With 24 FxStock you can begin trading immediately on any of our powerful platforms.You also can withdraw your investment with our customized ATM cards. Mempool Forex and Capital Trading Limited is a world class Forex Trading and Capital Investment Company, established with the vision of impacting the general populace with the knowledge of trading Forex and creating platforms that will bring about sustainable financial freedom. Forex is a portmanteau of foreign currency and exchange. Foreign exchange is the process of changing one currency into another currency for a variety of reasons, usually for commerce, trading, or ... Forex stands for Foreign Exchange so, Forex Trading simply means Foreign exchange trading or trading on foreign currency by its exchange rate. Since Forex trading involves the disparities in foreign exchange rates, making profit or loss in Forex trade is usually determined by the economic state of different countries at a time. Forex trading involves leverage, carries a high level of risk and is not suitable for all investors. Please read the NFA Booklet: What Investors Need to Know prior to trading forex products Forex accounts are not protected by the Securities Investor Protection Corporation (SIPC).
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