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  • FIRST POST
    • Fireball68
    • By Fireball68 13th Sep 18, 9:14 PM
    • 13Posts
    • 3Thanks
    Fireball68
    Investment/ trading training
    • #1
    • 13th Sep 18, 9:14 PM
    Investment/ trading training 13th Sep 18 at 9:14 PM
    Hi,

    Hope i have posted in the right section? Does anybody know anything about I markets live?

    I am trying to teach my son that money does not come easy and there are no quick rich schemes He has taken on this I markets live trader training and is paying £150 per month for this privilege ? Have found some info against this company but not a lot so any help welcome please?
Page 1
    • AnotherJoe
    • By AnotherJoe 13th Sep 18, 9:20 PM
    • 11,409 Posts
    • 13,177 Thanks
    AnotherJoe
    • #2
    • 13th Sep 18, 9:20 PM
    • #2
    • 13th Sep 18, 9:20 PM
    Don't worry he'll learn soon enough once his money is gone. Sometimes it's better to learn these lessons early, and if he's gone that far I suspect he's probably too stubborn/stupid/naive to be persuaded, no doubt he'll be a grand or two down sharpish and might come to his senses.
    Just make sure he's not trading options or he can lose far more than he's invested gambled
    • ColdIron
    • By ColdIron 13th Sep 18, 10:27 PM
    • 4,812 Posts
    • 6,325 Thanks
    ColdIron
    • #3
    • 13th Sep 18, 10:27 PM
    • #3
    • 13th Sep 18, 10:27 PM
    Oops
    • FULL RISK DISCLOSURE: Trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment.
    • AnotherJoe
    • By AnotherJoe 13th Sep 18, 10:48 PM
    • 11,409 Posts
    • 13,177 Thanks
    AnotherJoe
    • #4
    • 13th Sep 18, 10:48 PM
    • #4
    • 13th Sep 18, 10:48 PM
    Yeh but the son will be too smart to lose money, after all he's taking a course.
    He won't be asking himself stoopid questions such as, , if it's so easy to make money why don't the people who run the courses just make zillions trading rather than sell a course at £150 a month ?
    • Alexland
    • By Alexland 14th Sep 18, 12:36 AM
    • 3,580 Posts
    • 2,897 Thanks
    Alexland
    • #5
    • 14th Sep 18, 12:36 AM
    • #5
    • 14th Sep 18, 12:36 AM
    Looks like your son is going to learn the hard way. Still it could be worse he could be making this mistake later in life when he has a lot more assets to waste. The danger is getting burnt on this kind of rubbish might discourage him from making more sensible investments.
    Last edited by Alexland; 14-09-2018 at 12:40 AM.
    • tacpot12
    • By tacpot12 14th Sep 18, 7:51 AM
    • 1,476 Posts
    • 1,252 Thanks
    tacpot12
    • #6
    • 14th Sep 18, 7:51 AM
    • #6
    • 14th Sep 18, 7:51 AM
    Please update this thread with his experience. This could act as a very valuable thread from others who are considering this training.
    • Fireball68
    • By Fireball68 14th Sep 18, 8:09 AM
    • 13 Posts
    • 3 Thanks
    Fireball68
    • #7
    • 14th Sep 18, 8:09 AM
    • #7
    • 14th Sep 18, 8:09 AM
    Please update this thread with his experience. This could act as a very valuable thread from others who are considering this training.
    Originally posted by tacpot12

    I will do but will continue to research this company and badger him to give it up? But i presume nobody knows anything about this company?
    • AnotherJoe
    • By AnotherJoe 14th Sep 18, 9:03 AM
    • 11,409 Posts
    • 13,177 Thanks
    AnotherJoe
    • #8
    • 14th Sep 18, 9:03 AM
    • #8
    • 14th Sep 18, 9:03 AM
    The people on this forum are by and large not the sort to be suckered in by stuff like this. So you'd need someone that had been suckered in and then happened along. It does happen with those who lose money on dodgy investment schemes that are or might as well be scams, but in that case they are looking for ways to reclaim their money.
    From my POV I don't need to know anything about this specific company because obviously it's a way to remove money from the gullible, since as I said earlier if big money could be made why don't they do it themselves.
    • Prism
    • By Prism 14th Sep 18, 10:10 AM
    • 529 Posts
    • 440 Thanks
    Prism
    • #9
    • 14th Sep 18, 10:10 AM
    • #9
    • 14th Sep 18, 10:10 AM
    Its not the monthly charge that is going to lose money - its the fact that if he applies this knowledge then he is more than likely going to lose even more money by trading.

    Not that it isn't possible. I have a friend who reliably makes money off the FSTE 100 through short term trading using specific formulas that have been developed over many years. He certainly wouldn't share that knowledge though for £150 per month.
    • Malthusian
    • By Malthusian 14th Sep 18, 10:24 AM
    • 4,906 Posts
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    Malthusian
    iMarketsLive? It's not just a way to lose money on trading (like eToro and the like), but a pyramid scheme. It is illegal in both the United States and the United Kingdom (it is not authorised by either the FCA or the SEC). It has already been the subject of an FCA warning and warnings in a number of other countries.

    Read through How To Help Someone In An MLM. Badgering him will not work. He is in a cult, and by badgering him you will only turn yourself into the enemy and make him less likely to listen.

    • Do not criticise the company.
    Your friend will take any criticism personally. They will see it as an attack on them and their dreams. They have had it drummed into them that their hopes and dreams can be achieved by this amazing company. People who stand in their way are just haters and do not understand how wonderful this opportunity is. By disagreeing with it you are criticising their choice and jeopardising their dreams. They genuinely won’t understand why you are trying to destroy their dreams.

    The biggest danger of criticising the MLM is that you will be considered a threat to their success and could bring them failure. There are many, many instances of friends and family being cut off because of that. There have been divorces, lost friendships and family splits. This is a real threat, even if you had a very good relationship before.
    Try to find out if he is flogging the service to his friends because this could really do him long-term harm - losing all your money is one thing when you are young and don't have much to lose anyway, losing all your friends because you suckered them into a pyramid scheme is quite another.
    • jimjames
    • By jimjames 14th Sep 18, 12:23 PM
    • 12,813 Posts
    • 11,540 Thanks
    jimjames
    Is iMarketsLive trading system a scam?
    Good advice from Malthusian about how to handle the subject with him. It's very hard when someone has bought into the promises from a company like iMarketsLive trading system and you're trying to help them to realise what they're doing.

    But ultimately if iMarketsLive was a genuine trading system the owners would use it rather than trying to sell courses.
    Remember the saying: if it looks too good to be true it almost certainly is.
    • Alexland
    • By Alexland 14th Sep 18, 6:39 PM
    • 3,580 Posts
    • 2,897 Thanks
    Alexland
    But ultimately if iMarketsLive was a genuine trading system the owners would use it rather than trying to sell courses.
    Originally posted by jimjames
    Sometimes trading systems require sheep on 'courses' to follow them into trades to pump the stock price before the originator exits with a tidy profit and leave the sheep to take the downside.

    Alex
    • Thrugelmir
    • By Thrugelmir 14th Sep 18, 6:45 PM
    • 60,977 Posts
    • 54,187 Thanks
    Thrugelmir
    He has taken on this I markets live trader training and is paying £150 per month for this privilege ?
    Originally posted by Fireball68
    He'll learn soon enough. To become a better investor one needs to make mistakes. That's how one learns.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • nameeta26
    • By nameeta26 19th Sep 18, 9:16 AM
    • 2 Posts
    • 1 Thanks
    nameeta26
    The mistakes are the best teachers that helps investors to learn and grow their skill and understanding. Another thing that comes bundled with this is the valuable experience.
    • dealer wins
    • By dealer wins 19th Sep 18, 10:19 AM
    • 6,072 Posts
    • 11,763 Thanks
    dealer wins
    nameeta give it up, trying to post like a normal person when you're a spammer with a site as dodgy as they come in your profile!
    Choose life
    • dunstonh
    • By dunstonh 19th Sep 18, 10:25 AM
    • 95,750 Posts
    • 63,450 Thanks
    dunstonh
    The mistakes are the best teachers that helps investors to learn and grow their skill and understanding. Another thing that comes bundled with this is the valuable experience.
    Originally posted by nameeta26
    The valuable experience of what it is like to be mugged.

    Anyone using this company is a fool. Anyone promoting the use of this company is something that the board would filter out.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • LHW99
    • By LHW99 19th Sep 18, 2:35 PM
    • 1,521 Posts
    • 1,412 Thanks
    LHW99
    Just make sure that it will only be his money that he uses / loses - not yours, your OH's or any other friend / relation.
    • Malthusian
    • By Malthusian 19th Sep 18, 3:10 PM
    • 4,906 Posts
    • 7,904 Thanks
    Malthusian
    The "What doesn't kill you make you stronger" school is nonsense. Having an arm chopped off won't kill you but makes you weaker. There is no point being a more experienced, wiser investor with no money to invest (because you lost it all in an MLM scam).

    Sadly the evidence is that many MLM victims do not learn. They jump from one scam to the next chasing their losses, until they have a Damascene conversion or run out of money. Education is not the issue. You don't get someone out of a cult by pointing out that there is no God.
    • kennyboy661
    • By kennyboy661 20th Sep 18, 12:07 PM
    • 8 Posts
    • 7 Thanks
    kennyboy661

    Sadly the evidence is that many MLM victims do not learn. They jump from one scam to the next chasing their losses, until they have a Damascene conversion or run out of money.
    Originally posted by Malthusian



    Couldn't have put it better.
    The last act of boiler rooms scams / pyramid scams is to sell (or take) their details to the next scammers. Those lists are gold dust for scammers
    You are far, far more likely to be scammed again.
    • Fireball68
    • By Fireball68 22nd Oct 18, 9:19 PM
    • 13 Posts
    • 3 Thanks
    Fireball68
    Couldn't have put it better.
    The last act of boiler rooms scams / pyramid scams is to sell (or take) their details to the next scammers. Those lists are gold dust for scammers
    You are far, far more likely to be scammed again.
    Originally posted by kennyboy661
    Evening all, you will be glad to know that my son made the right decision and has quit doing this trading, MLM, pyramid scam. I just spoke to him left a while and spoke to him again giving him the time to think things over. Told him that people are either born into wealth, are clever enough to be in a job that earns them a very good wage and there are those small amount that are lucky to become wealthy overnight like a lottery win etc.Luckily my cousin spoke to him, whose a financial adviser, hopefully no dodgy deals? and it seems to have worked? Like all youngsters they always search for that quick money making scheme and unfortunately they will always be dodgy in one way or another? Thanks for your advice people its much appreciated!!
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