Question Regards Forex Trading

lozzy1965

EddRobinson7 said:

It's sad that I feel I needed to give you that context so I can get the actual help/advice that I have requested instead of being ridiculed.

Hmmm, I think you will find that the people on here are looking out for your financial well being!
Whilst it might be a legit opportunity you have found yourself with, it does have ALL the hallmarks of a scam, so people are answering your questions AND warning you of the risks of what you are about to embark on.
Dealing through someone else after giving them your money and relying on them to give you your money/profits back IS a big risk.
They may have gambling debts, a drug habit, criminals pushing them to bring in more money.  Just be careful.  Scammers are very clever people.
If you do take part, please do report back here what happened.  It will be interesting for others to read about.

lozzy1965

Google this:  "can you make large sums of money by forex trading".  Look at how much your 'friends' are claiming they have invested vs how much they are claiming they have made in profits.  Check the amounts look reasonable.

Edit:  The top answer here sounds reasonable.  Check it fits with what you are being told?
https://www.quora.com/How-much-monthly-profit-does-an-average-successful-forex-trader-make-in-terms-of-percentage

Frequentlyhere

Just to add, it's not that your story isn't quite convincing, it does seem it. it's just that the realities of Forex trading are far more convincing.

Gigantic institutions trade forex using lightning fast algorithms on the highest possible speed internet just to make macro-cents here and there (on a rapid basis). These are teamed with the finest academic minds to fleece money/arbitrage from those taking the other end of the bet.

The chance that your, or anyone's, mate who lives down the road, has cracked open a non-negligible edge in that market is basically nil. Which is why we're trying to help you not lose your cash.

cymruchris

If you are prepared to lose friends and money - go for it. 

Your 'description' rings many alarm bells with me, and I wouldn't touch it with a bargepole. 

Historically I gained some 'knowledge' when living in Asia of how the 'scam' worked. The top tier (Usually the scammers themselves - or appointees of the scammers, as they would often remain in the shadows) would persuade a few key people to invest, and give them real returns. (The second tier). These people would then go out and recruit others from their network giving them a story of 'don't wait on the waiting list - I can get you in quicker if you want to join me'.

They'd then sign up and start pumping their money in too. The effect of the second tier clearly making money and buying flash cars encouraged more and more signups. The top tier then began to arrange 'reward trips' for those who were signing up the most people (to places like New Zealand and Dubai) - whereas in effect those taking the reward were paying for it with their own money indirectly. The top tier was obviously skimming away from the pot for their own pockets (well more than skimming). The ruse would continue, and all were given access to a 'special app' that showed their balances, and the amazing amounts of money they were making. (Obviously it was just a figure on a screen - there was no actual money)

Again, in the early days, where one or two people wanted to withdraw their 'winnings', they were offered better rates/odds if they left their money in, as part of a premium club of VIP's, and the greed meant many did so. Those few that just wanted their money - got it back.

Once the calls for money back began to creep up, and the number of new investors slip down, the whole thing would come crashing down with the top tier disappearing into thin air, and the second tier left to carry the can, who by now will have likely invested everything they had, even though they had a flash new car on the drive. Some not only lost their money, but their friends, and their house. 

So.

Think carefully before you put your money into something like this.

If you don't mind throwing your money down a drain, off a cliff-top or burn it in Winter - my advice for your financial well-being would be to stay very much away. 

But it's your money. If you make millions - I'll be very pleased for you. But don't say I didn't warn you.