Dear fellow forex warriors,
I recently returned from a conference where Greg Secker from Learn To Trade was one of the guest speakers. He did a 60 minute talk aimed at convincing gullible want-to-be traders that they can reach financial freedom simply by enrolling in their education program at a cost of $4900.
After watching and then speaking directly to him after the talk, I realised that their desire to make money at the expense of their students has reached a new height and feel the need to share this info in the hopes that it might stop future people from throwing their money away.
These guys stink. They really do, and there are a few reasons why.
Firstly - They sell an unachievable dream. The idea is that after going through their course youll be able to supplement your existing income through trading less than an hour per day. Which will mean that youll be able to spend more time with family, walking on the beach and whatever other cliche you can think of. Total bullshit.
Secondly - After youve gone through the initial course they offer a number of upsells increasing your knowledge base and potential profits. The size of these upsells can be as high as $25,000. Yes, I know, crazy! But plenty of people pay it.....
Thirdly (and this is the kicker) - Once youve gone through the stages above youre invited to be a money manager under their umbrella, youll sit under their license and trade at their in-house brokerage with a spread on the EURUSD of 10 pips. Yep, you heard that right. 10 pip spread. AND youll be asked to invite your friends and family to allocate capital to your trading. They wont give you money to trade, thats up to you. But the good news is that youll earn rebates from your money under management. And this is the part that scared me.... The driving force behind this is to earn rebates (presumably because making a profit isnt realistic).
So you are encouraged to convince your friends and family that youre now a professional trader and that they should give you some of their hard earned cash to gamble on the market.
Not only are they fleecing their clients for tens of thousands of dollars in useless education and b-booking their losses, theyre now getting them to put their personal relationships on the line as well.
Their clients that go through the entire process are losing a fortune and putting themselves under impossible pressure to succeed in front of their trusted friends and family with almost zero chance of success.
Mark my words - this will ruin the lives of hundreds, if not thousands of people.
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