Yourtradingroom.com Is it a scam?

[sprintljs]

After reading the posts on here I kept well away from LTG and YTR I went down the Nial Fuller method, which I finding very helpful and having good results on my demo account, where I came an oops was when I stayed on the beaten track lol.
Also am trying out a method off the trigger points that Price Action gives which I hope to refine as time goes on but looking very promising and lowering the risk of the trade, I may not know much about trading at this point of time but do know logic.
Regards
LJ

 

[traderman1]

The ForexPeaceArmy reviews are terrible for this company
http://www.forexpeacearmy.com/public/review/www.yourtradingroom.com

Check out this guy. He is the call centre/boiler room marketing team boss.
Beware what you buy. I wish I had been.

Thanks for the reviews of Yourtradingroom I hadn't seen this before

 

[Pipsaholic]

I attended a webinar and they state the difference between a retail forex trader and their GPT is that you have more buying power and your assigned a professional/institutional teacher to review your trades to improve your performance and risk is all on the company if you have more losses.

The idea is good but price is for people earning big time but not for those in minimum wage jobs and unemployed.

 

[globalfx2]

In the US all the banks were forced to spin off their PROP desks, why? Too much Risk.

So now you have a "retail" outfit that says they will take all your losses after you pony up 20K.

By entry level PROP standards 20K is a huge ante.

They may sell it as "training / education fee, but its really your skin in the game

There are better deals out there for serious career minded traders.

Whether its a one on one independent mentor, or a full blown company.

 

[1only]

Well, I will take a look and report back here.

 

[Pipsaholic]

I attended their free webinar they did ask for a hefty $20K for the course but reduced it to $10K limited time only I think you can bargin with them and get it down too $5k i heard some people say they already have the platform they use and indicators which cost like $5K was seriously considering it for me its about £3k but rather trade myself as they give alot of signals may join in the future but not now as I am just starting out check them out on youtube they have lots of testimonails plus appearing on a news channel and 40,000 members majority who are happy.

 

[be-positive]

pips ------ read post 6 on thread and then print it out and frame it next to your computer

 

[pboyles]

I attended their free webinar they did ask for a hefty $20K for the course but reduced it to $10K limited time only I think you can bargin with them and get it down too $5k i heard some people say they already have the platform they use and indicators which cost like $5K was seriously considering it for me its about £3k but rather trade myself as they give alot of signals may join in the future but not now as I am just starting out check them out on youtube they have lots of testimonails plus appearing on a news channel and 40,000 members majority who are happy.

Pipsaholic,

You do realise that testimonials are regularly faked by companies in this business? As for 40,000 members how do you know most are happy, indeed how do you know there are 40,000 at all? If you keep believing what these people say about themselves then you are destined to be scammed sooner or later.

 

[Pipsaholic]

In my view if most members are losing and not happy the company would not exist or take any new members not give free trials and a lawsuit would be filed against them with watchdog onto them etc Are you saying video lies? sure someone can right they earn xyz per day but they seem genuine people and mention the company and people involved with the company infront of their familes you are far too superstiious and think there all lies when it is not the case. A good way to find out about a company if they are legit or not is ask the company if you can contact one of their members by phone and even meet them in person that way they get comission if they sign up under them someway or another so it benefits all.

As for post 6 trade for youself and dont need anyone sure spend 20 years reading these forums and books while learning with a mentor or group of people and you learn in 1-2 years. That's my experience outwith and in trading. The more you interact with people the more you become successful.

 

[pboyles]

So your method of determining if something is a scam is to ask someone who is getting paid a commission to sign you up? What do you think he's going to tell you?

Anyhow better for you to give them the money and find this all out for yourself. In a years time you'll know who was right and who was wrong.

 

[Pipsaholic]

No, what i am saying that there is a benefit for everyone look at all these company offering discounts and money for refer a friend.

Watch This enough said. http://www.youtube.com/watch?v=UbI5ACRrjk4&feature=related

 

[shewolf]

Pipsaholic,

You do realise that testimonials are regularly faked by companies in this business? As for 40,000 members how do you know most are happy, indeed how do you know there are 40,000 at all? If you keep believing what these people say about themselves then you are destined to be scammed sooner or later.

Pboyles, Unfortunately, some people are so stupid and so gullible and so desperate, they will believe anything.
They will believe that the company has 40,000 members just because it is written on a website.
They will believe fake testimonies.
They will think that it is great value because it has been discounted down from a ridiculously high level to just a ridiculous level.
They will believe every word from the salesman who is trying desperately to make a commission.
They believe that the Government watchdogs will protect them from scammers.
They will believe that the company has successful traders, despite NO evidence of ANY real trades. (Most of the so-called traders in the company are using simulator accounts).

If ANY trader is so stupid as to want to gift $20,000 to a company for the privilege of trading a demo account, then they deserve to be financially ripped off

 

[Barramundi]

Watch This enough said.

They called 1 trade from which they took less profit than what they risked. So what? This just indicates that their risk management could be up the creek and they are relying on having a high success rate to be profitable.

 

[pboyles]

There was one the other day where the company was claiming to have a secret box that was smuggled out of Germany during WW2 by some guy who later used it to make $2 million. Now the secret box had been decoded and the secrets were available for about £1500. There were some fake testimonials with photos copied from other websites, still people were arguing that the fake photos could just be a mistake and because there was a money back guarantee they were going to buy it.

Are people getting more stupid, it seems like people will believe anything if you promise them easy money.

Pboyles, Unfortunately, some people are so stupid and so gullible and so desperate, they will believe anything.
They will believe that the company has 40,000 members just because it is written on a website.
They will believe fake testimonies.
They will think that it is great value because it has been discounted down from a ridiculously high level to just a ridiculous level.
They will believe every word from the salesman who is trying desperately to make a commission.
They believe that the Government watchdogs will protect them from scammers.
They will believe that the company has successful traders, despite NO evidence of ANY real trades. (Most of the so-called traders in the company are using simulator accounts).

If ANY trader is so stupid as to want to gift $20,000 to a company for the privilege of trading a demo account, then they deserve to be financially ripped off

 

[Pipsaholic]

They are some genuine people in the world you know make em sound like everyone on the net is a scammer just because Google and this forum is free doesn't mean every website should be.

 

[Luisana Maria]

I dont thinks they spam too.

 

[zero1]

Stay away. I posted a detailed reply but it didn't go through and have no time to explain in detail. I've been a trader for 30 years and trust me do not trade forex unless you really understand how the market and the market makers work on the mom and pop level. You are not an institution and you will get baried. Everyone who has come to me over the years with the new forex trade facilities introduced a while back did not take my advise and every single one of them lost their butt. I simply can not get started on this very in depth subject but people do yourself a favour and forget these pie in the sky claims and phony testimonials. Stay away from forex. I trade forex sometimes when I see a real set up but I have a big bank and can handle the margins and I am also a technician or chartist if you will. Again I have been trading for years and I see these new concepts appearing all the time all geared to get your money preying on the desperation of good people. If it is too good to be true... It IS!

 

[zero1]

There was one the other day where the company was claiming to have a secret box that was smuggled out of Germany during WW2 by some guy who later used it to make $2 million. Now the secret box had been decoded and the secrets were available for about £1500. There were some fake testimonials with photos copied from other websites, still people were arguing that the fake photos could just be a mistake and because there was a money back guarantee they were going to buy it.

Are people getting more stupid, it seems like people will believe anything if you promise them easy money.

They want to believe! This is the sad truth. The whole Forex retail market is a con designed by entrepreneurs and loop holes scrutinized by lawyers and the free market system lets them get away with what I consider legal theft.

 

[pboyles]

Stay away. I posted a detailed reply but it didn't go through and have no time to explain in detail. I've been a trader for 30 years and trust me do not trade forex unless you really understand how the market and the market makers work on the mom and pop level. You are not an institution and you will get baried. Everyone who has come to me over the years with the new forex trade facilities introduced a while back did not take my advise and every single one of them lost their butt. I simply can not get started on this very in depth subject but people do yourself a favour and forget these pie in the sky claims and phony testimonials. Stay away from forex. I trade forex sometimes when I see a real set up but I have a big bank and can handle the margins and I am also a technician or chartist if you will. Again I have been trading for years and I see these new concepts appearing all the time all geared to get your money preying on the desperation of good people. If it is too good to be true... It IS!

Good post, it will be interesting to see if it gets deleted.

 

[1only]

Well, I joined the trading room. I believe that if you have $20K, you may want to join it only if you want to entertain yourself. Or you may want to see if I can help you to turn your $20K to $14K or to $100K.