Forex Freedom Rocks scam ? Lets discuss this program.

Thanks for your input, Traderj, and I have one word in response to your entire post........Amen.

Also, I put a message into my broker Friday night asking them to tell me if they give ANY of my personal account information out to Freedomrocks, or anyone for that matter. So, Monday or Tuesday we'll find out if the information if factual, or if it's just a FR representative's fabrication that evolved into the truth.

Takii, If one good thing came out of this, it was that a few months ago it motivated me to switched my major to Management and Finance for my masters degree. I learned a lot from this FR experience, and the main thing is to NEVER trust ANY network marketing system, no matter how close that person is to you who's peddling it; and the other thing is to learn how to invest for yourself and find out everything you can about what you're putting your money into. I'm educating myself to get started up in the stock market in about a year or so. Now that's investing!

Freedomrocks is a network marketing system that sells a speculation, or gambling, program. It's a far reach stretch from investing, and there certainly IS guesswork involved. Obviously, as if you don't guess right, Qclown and other representatives will blame the heck out of you.

I think you are safe. As I have repeated on just about every post, no personal information was given out. As has been commented on by others, brokers can't do that.

I am saddened to hear that the only thing you took out of this experience was the notion that because some one received a commission for your referral, you were immediately doomed. A program works or does not work based on its strategy and tactics, not the way it is marketed. If FreedomRocks had kept all your money and not reimbursed anyone, your results would have been the same. I know that you at least understand that.

Your closing statement reflects your problem. You were guessing and gambling. Those of us with intact protfolios were busy following the program and investing wisely.

I truely do wish you the best and I am sorry if I sounded harsh. I thought maybe if I was forcefull you might snap out of your state and look at the facts. It didn't work. I had hoped that this experience would have taught you something about responsible trading, emotional control and portfolio management. It didn't do that either.

The best of luck on your Masters work. That is a great goal and should lead to a very good life. It is a lot of work but you are obviously tenacious enough to hack it. I think you will do very well in that endeavor.

[Traderj]

Originally Posted by qclown

Wow! Where to start?

The truth and you being consistant would be a nice place.... please follow along.

There are only four brokers. This isn't a problem. No personal information was ever given out. If you believe that FreedomRocks is just making up all their info in order to defraud people just say so and report it to the authorities.

Guess what IF any broker gave ANY information out about a clients account as in how much margin they used, what pairs they were trading etc.. the EXACT info you claim the VP knows that BROKER broke the law.. that IS personal information.. PERIOD. Check it out... you are barking up the wrong tree on this one. There is NO legal way for FR to know what margin and pairs the members of the program used in their personal accounts without breaking privacy laws or by those people offering the information or signing an agreement saying FR could obtain that info from the brokers. Please read this paragraph again as you didn't seem to follow it the first time.

Having said that, let's take a poll. All those people that honestly feel that this site implies that if you invest $5000 and margin and trade it beyond the FR recommendations that you will be buried in money, cars, mansions etc., raise your hands.

Funny how your tone changes now huh? You went on and on about how freedomrocks is NOT about showing fancy cars and stacks of money and boats and blah blah blah.. they just aren't about that. Now that you have PROOF that they are about that and YOUR site has that, suddenly it's oh ok they do have that but that's doesn't imply anything.. ok Mr. Non Marketer answer me this, if those pictures aren't meant to imply anything why pray tell are they there? You know damn well why they are. Stop pretending you don't.

I'll let Mark know that there are folks out there that are too gullible to handle the graphics. Maybe he'll make the change.

Careful now your *****iness is showing. So I'll ask again, if you are not about trying to imply that people can have all those things with minimal investment, why are they there? I read the site, it says you "CAN" start for 2 - 3,000 but 5 to 10k is better. So that means the implication is that for a maximum investment of 10,000 you can expect to have that Rolls, the nice boat, the mansion... I mean why else are they there? Seriously, what is their purpose?

They are acting exactly like all MLM companies, they are trying to sell the idiot proof dream. Look with this amount all these things can be yours.

That is pure bunk! You will not necessarily lose money on an ultra safe investment. I even printed the numbers a few posts back. That statement is absolute hogwash!!!

You should read YOUR own posts a little more carefully. In your example, or one of them you clearly stated numbers that showed if you ONLY were collecting interest and MADE no money on trading you would lose money each year. Those were your numbers not mine.

Of course the market must move in your favor. DUH!!! If you have a program that makes money when the markets move against your positions I would love to see it. Are you serious!!

Again you really should read better. I never at any point said I expected to make money when a market moved against me. I said that nowhere in the promo material for FR do they make it clear that if you are using the super safe Interest only that both of you have point out on this forum you will in fact lose money each year. So you must, not maybe but YOU must risk some of your money. So you are in fact risking money based on information that you know NOTHING about as a computer is doing it all for you. It's called full disclosure.

Now we get to the nub. MLM. It is always MLM.

yes you prove it with every post. For somebody that doesn't care about the marketing side of things and for somebody that couldn't care less if his commissions dry up you sure do spend a lot of time trying to defend this program. If you're making such great income from the trading side of things why are you even bothering with the MLM side? It's a nice extra source of income? hahaha.. ok so then the trading side is not so great after all is it? I trade for my living and I make more money than any FR trader does and I don't have to defend my MLM program to anybody or worry about something happening to my account that I have no clue about, like virtually every FR "trader"

Forget the fantastic results, forget the solid strategy, forget the fact that the success rate for FR traders outstrips the average by far, forget everything but MLM.

I don't see the results.. you say they are great but like all FR members you are not willing to show proof of your great trading results.. then they start to spout the old well we can't disclose that. Yes you can there is no law against someone sharing their personal trading information. But FR tries to pretend their is. To call the strategy solid, ummm yeah... ok.

More importantly where your arguement really fails is that you continue to compare FR results to real traders, with your well 95% of all traders fail and close their accounts in the first year but the simple fact of the matter is you HAVE NO factual info as to how many FR people are still around after a year and NO clue how many of them are actually in profit. Not unless they have chosen to share that info with you. They (freedom rocks people) are NOT traders, they are video game players. There is no trading going on. They don't buy or sell based on market reasons they do it because a computer program tells them to. That is NOT the same as trading.

First off, are you saying that by offering an optional marketing program the trading program immediately begins to fail?

Nobody said that, please stick to facts. I said the credibility suffers and it does.

That by dumping the optional program that the trading would suddenly become worthwhile and trustworthy?

Nope never said that either, so you are just making stuff up now out of thin air I see? I said the same thing I just repeated above, without the MLM side of things they at least have some credibility to fall back on. Plus they will get more serious minded traders and NOT the MLM pimps that are pushing this thing to a bunch of unsuspecting people with the ROLLS, Mansion etc... it's all the same old same old... you can deny it all you want, even to yourself but it doesn't change the facts.

Your last comment is basically a statement saying "You are all lying". I have given you the numbers, believe what you want. A person with a $5000 account has as much chance as anyone to make an above average return. Period. Folks with larger accounts have more options and that is a fact of life.

Actually you are quite silly, I never said you were lying. I stated a fact, for your VP to have the info YOU say he has he had to break the law to get it. That's not opinion it's fact. Please phone or email any broker on the planet and ask them if a third party called him without a police warrant and asked for your account's margin settings and traded pairs would he give that information out? The answer is NO. Please stop playing stupid.

They saw a great opportunity, traded responsibly within the parameters given and made money. Why is that so difficult for you detractors to understand?

You sure sound like a salesman to me. For somebody that is ONLY worried about trading and doesn't care about the MLM side of things like stated you spend a hell of a lot of your time trying to pimp how great this program is. I know of quite a few people that have failed with this and like it or not the information on the site and in the back office is NOT clear. I've been there I was a member but I was smart enough to get out as it was not for me. I prefer to have control over my money.

If you wish to continue this thread feel free to but please try to state facts and stop trying to put words in my mouth. Also you might want to consider toning down the "my sh*t doesn't stink" tone of your posts.

I am sorry you don't get why many normal common and of above average intelligence people don't want to take part in your little game, but calling them names and insulting them won't give you any better an understanding. By all means continue pimping the program that you ummm don't care about the commissions on haha...I can assure you I know as much about trading as you do, please don't speak down to me like somehow I just don't "get it" I get it very clearly... which of course is what FR doesn't want.

Have a good day.

J

[Traderj]

Originally Posted by qclown

I think you are safe. As I have repeated on just about every post, no personal information was given out. As has been commented on by others, brokers can't do that.

So if that's the case how can the VP of FR you mentioned KNOW that only 1% of their traders had margin calls and that they were trading without following the suggested pairs and risk level? You said that was factual now you're saying no personal information was given out? Which is it??

You may not know this but statistics can be collected without revealing personal information. It's done all the time. I'm rather shocked that this is news to you.

[Traderj]

Originally Posted by qclown

You may not know this but statistics can be collected without revealing personal information. It's done all the time. I'm rather shocked that this is news to you.

WRONG... nice try though. It is IMPOSSIBLE for the below....

Hi TraderJ,

No, it isn't an inside track, John Garriano, formerly of FX Solutions and now VP of operations for FreedomRocks contacted all the recommended brokers this week to find out how the accounts were doing. The results were that 1% (maybe a bit higher after Thursday and Friday) had margined out. Of those 1% all were found to be trading outside of FR parameters. They found people trying to hedge with crosses, trading unrelated pairs, trading the GBP/JPY with high margin, all kinds of tweaks or just being excessively margined.

To be given out. THAT IS PERSONAL information. Odd how you don't seem to want to admit your mistake.

One more time for the expert trader but non-marketer

If ANY broker gives out the information that you clearly state above they gave out THAT IS PERSONAL information. A broker can not give out information related to how they were trading or as you put it "outside of FR parameters" or telling that in people's accounts they were trying to "trading unrelated pairs" that is IN FACT PERSONAL information... nobody said they gave out names or addresses or anything like that. But trading history IS PERSONAL... you really are just digging your hole much deeper here.

FreedomRocks is an intoducing Broker, you reference that on the live account appilcation. Here's a quote from IBFX's web site about being an IB: "As an Introducing Broker (IB) with Interbank FX, you will receive a wide array of tools designed to help you continue to be successful. Our Backoffice Manager lets you see quickly and easily the status is of all your client's accounts."

Sounds to me like FR can see if you have a margin call.

[FrankTheTank]

Forex brokers are not regulated like futures and equities brokers. I wouldnt be surprised if they are allowed to sell your personal info. to anyone who is willing to pay.

They whole spot forex market is setup to take money from new traders. FR is only part of the problem.

You have GOT to be joking. So if a business publishes their statistics without revealing any personal information about their clientele they are violating privacy rights? I thought I had heared everything but this really takes the cake.

I have a very rude awakening for you. All major businesses, brokerages included, break down their business by category, type, actions etc. They then summarize and sell it. If a broker reveals that 1% of trades signed up under FreedomRocks got margin calls, and that of those, x percent had margins greater than, say, 15%, and/or that x percent were trading the GBP vs JPY, that is information that belongs to the broker, not to the client. It is the same with any business.

I think you are living in your own little world, here.

In ref to Sumaprops post. FreedomRocks is not an IB. You do put their name in the IB slot on the application but that just allows the broker to sort the accounts. I have double checked with FreedomRocks and they have no plans at the moment to register as a broker.