Is
Forex Freedom Rocks Scam ? First of all, be very careful of any advice you receive about this program from a current member (I am not a member). The reason this program is very popular is they have an affiliate marketing programming that allows people to earn lots of money by referring new members. Therefore, take everything you hear about this program with a grain of salt and remember that people are trying to sell you the program even if they appear to be helpful and unbiased.
With that being said, I do NOT think freedom rocks is a scam. The system appears to be profitable and it seems to be working well for everyone at
the present time. It is impossible to know if this system will continue to work in the future.
Here is the 30,000 foot overview of
Freedom Rocks. Freedom Rocks is an automated Forex trading strategy (to learn more about forex, we suggest you study at Babypips:
http://www.babypips.com/school/). You can make money two ways using this program. Both methods require two open positions on two correlated cross pairs. For example, you can have a long position on EUR/USD and a short position on USD/CHF. Because these pairs are somewhat correlated, you position is essentially hedged. You can make money by opening several positions and closing them when they are in profit and holding onto your looser until they eventually reach profit. This is very similar to a "grid" type of trading system. The second way you make money is through earning interest by your brokers swap rates. By choosing the right currency pairs, you can earn 10-100% interest per year depending on your leverage and level of risk.
I am NOT a member of Freedom Rocks. I did try to the free demo account and decided not to join. Here is the main reason why I decided not to join:
One of the most important things I look for in any short term investment is a risk/reward ratio on a monthly basis. I typically like to keep this ratio at 1.0 or less. For example, if I am going to risk half of my account 50%, I would expect a return of at least 50% each month. With Freedom Rocks, it seems I need to set my portfolio up to risk 10-15% of my account each month to get 4-6% in returns each month. As you can see, the high level of risk does not seem to justify the relatively low returns.
If you dig a little deeper on the internet, you can find posts from current and previous members that report very large account drawdowns. Most of the time their accounts bounce back, however, that kind of risk is not okay for me personally which is why I have decided not to join freedom rocks.
Please note there are a lot of people who are smarter then I am using this program and I invite them to post their comments below.