IG Forex Traders... What to believe?
You would be better believing none of it.
If I’m honest, this is a frustrating article to write because the Forex trading industry has been polluted by “Forex traders” claiming to know how to trade and teach you how to trade… So long as you pay them a monthly fee to give you signals while they teach you.
Some “Forex traders” will trade for you (which is illegal unless they have a license). Just deposit some money into a broker that they most likely work with, and they will copy their trades onto that account, and you will make a passive income without having to lift a finger.
These are the biggest red flags that this person probably makes money off you whether they can trade or not.
If you can dodge these bullets, there are still more “Forex Traders” selling courses for a one-time fee. Now, there are some excellent courses out there that will nurture you from a beginner to a profitable trader, but most of these things are landmines and pits for your hard-earned money.
This is why the actual Forex traders out there won’t say the words “Forex trader” when describing their profession. All these sleazy forex salesmen have made the forex market out to be this scam-filled lie where savings go to die.
What's your position?
A little more than a couple of years ago, I was about a year to a year and a half into my Forex journey, and nothing was working for me. I was desperate.
I had gone through most of my live account funds, and I was running out of options, and I had a choice to make… Stop the bleeding and use the remaining money to pay for a course (which would be my third course) or carry on doing what wasn’t working for me.
Mind you, this was my last +/-$350, I think it was. It was a 3-day course I had to attend, and then I had lifetime mentorship (don’t we all?).
So I attended the class, and the first class was on “How to Install MT4“… A lot of you would be panicking already, thinking what have I wasted my money on. Not me.
I was patient and still hopeful. Remember, I had just come from a hopeless place and had just bet it all on black with this course.
On the second day, we returned and were taught the history of the Forex market and how to place a trade on the MT4 we installed a day ago.
That was it for the day. At this point, being someone who actually knew a lot about the market and was just having trouble putting it together to become profitable, I was a little worried. I doubted they could teach me how to be profitable in just one day.
They didn’t… Naturally. I left that feeling robbed. Knowing with absolute certainty that no one who attended that class became a profitable trader without a doubt.
So I had been desperate and eager to learn but was taken for a ride by an IG Forex trader who I believed to be legit until I saw the content they teach and the size of their actual trading account.
I am not the only person who has fallen for such a scheme. That’s the problem. Most of these IG traders buy all these cars to impress you with the money of desperate people who couldn’t afford to lose that money.
That being said, there are some excellent traders out there trading the Forex market for real and are looking to help people who have struggled like they did and make their journey easier.
But these people are hard to find. And all of them will never ENTICE you to join or pay them for the content. They don’t HARD SELL their knowledge because they understand this Forex thing ain’t for everybody.
So if you find yourself in a desperate position financially, hang onto your money! Because these days, even getting educated comes with risk. So don’t spend your last rand or dollar trying to get out of a hole quick. Chances are you’ll be very disappointed.
The story above was the LAST TIME I ever spent money on a Forex trading course. I vowed to figure this thing out or die trying! And lo and behold, I figured it out.
I’d like to think that I would’ve reached the point of profitability much sooner had I only found the right teacher. BUT who really knows? I’m super grateful for what I’ve been able to achieve, and I certainly did not travel this road alone.
I’m young, I wasn’t willing to keep gambling money I didn’t have in hopes of finding a good teacher. I keep betting money I didn’t have on myself.
Disclaimer: This paragraph is simply my journey, and I don’t advise people to keep risking money they don’t have like I did. Your AGE, RESPONSIBILITIES, and FINANCIAL POSITION could be very different.
Don’t bet the farm.
Don’t lose your shirt.
Cut the L.
Keep the W.