# Wealth FX



## Shane V (23 June 2009)

I was approached by a company called Wealth FX.

Anybody used this software? Any good?


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## cutz (23 June 2009)

Shane V said:


> I was approached by a company called Wealth FX.
> 
> Anybody used this software? Any good?





Nah,

But it's sounds dodgy, suggest running the other way.


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## marriedmoneyman (14 July 2009)

Hi Everybody,

Does anybody know about a company called Wealth FX, based in Queensland, promoting a software and training system to trade in currencies and of course make large sums of money?  The program costs $14,000 and they say that you can trade $300-$1000 daily and make around $1,000 per week.  Please tell me you are all rolling around the floor laughing your a's off.  Surely this is a scam?


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## Timmy (14 July 2009)

marriedmoneyman said:


> Please tell me you are all rolling around the floor laughing your a's off.




I would, but I've heard that one before.


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## Timmy (14 July 2009)

Googled it and found this:

If It's Monday, This Must be My Call Centre

That's one big call centre.


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## yetti (10 August 2009)

*forex*

has anyone heard of or signed up with a company in queensland called wealthfx operated by walker robertson and associates


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## Timmy (10 August 2009)

*Re: forex*



yetti said:


> has anyone heard of or signed up with a company in queensland called wealthfx operated by walker robertson and associates




Hey yeti, someone asked about them a few weeks ago and no response.  They certainly seem to have a very big marketing machine (see the link in my post above).


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## LuvsTrading (28 August 2009)

Timmy said:


> Hey yeti, someone asked about them a few weeks ago and no response.  They certainly seem to have a very big marketing machine (see the link in my post above).




Hey Timmy the link you posted is of Pacific FX not Wealth FX


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## LuvsTrading (28 August 2009)

I too would be interested in some more info on them!


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## Naked shorts (28 August 2009)

Timmy, I hope your checking the email addresses of these people. Something is telling me we are under a guerrilla marketing attack

:bowser: :bigun2:


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## Timmy (28 August 2009)

LuvsTrading said:


> Hey Timmy the link you posted is of Pacific FX not Wealth FX




You haven't read it have you?

_"Pacific FX Traders provides marketing services for WealthFX"_


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## Naked shorts (28 August 2009)

LuvsTrading said:


> I too would be interested in some more info on them!




If you Luvs Trading so much, why dont you do it yourself? why do you need one of these companies to do everything for you?


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## Timmy (28 August 2009)

Naked shorts said:


> Timmy, I hope your checking the email addresses of these people. Something is telling me we are under a guerrilla marketing attack
> 
> :bowser: :bigun2:




Good thinking Naked ... and ... looks like you are right!


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## alwaysLearning (28 August 2009)

Do not fall for scams. (educate yourself on how to spot them)

http://www.babypips.com/school/forex_scams.html


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## Garpal Gumnut (29 August 2009)

alwaysLearning said:


> Do not fall for scams. (educate yourself on how to spot them)
> 
> http://www.babypips.com/school/forex_scams.html




Hey , agree ,

Fcuk off LuvsTrading, ShaneV, marriedmoneyman and yetti.

ASIC awaits.

gg


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## Truckiemuzz (29 November 2009)

Morning All, I too would be very interested to hear from anyone who has had dealings with Wealth FX, and/or purchased their program.

I am looking to start trading, and while it seems like a good idea to get training and mentoring from someone with experience (for $10k!), I am cautious about handing over that sort of cash to anyone with a 'system' (and frankly testimonials are not worth ).

Does anyone have sage advice about the best way to prepare, and does anyone have knowledge of a credible training package and/or organisation.

Many thanks in advance, cheers and beers,

Muzz :cowboy:

PS. alwaysLearning - I enjoyed your advice about Becoming competant at forex trading so much I have a hard copy on my desk with my other educational tools!


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## supermatt (29 November 2009)

whatever you do . DO NOT even look at these guys or any other scam like this. 10 Grand is absolutely nuts and you should NOT even be considering this. 
please dont 
just go on forums and learn for free. its what the smart people do.


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## cashflow_08 (29 November 2009)

I agree. 10k is way too much. Probably half the things in the course like technical/fundamental analysis, you can find it free from  babypips.com

Be careful. The only one you can trust in forex trading and learning is yourself.


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## MACD (29 November 2009)

Anybody who spends $10 - 14k on a training system or black box system needs to have their head read.  The vendors are the only ones making the money here.

If I was you  and if I wanted to learn about FX, or futures then this is what I would do.

1. Tell the scam artist to get stuffed.
2. Get a free demo version of trading software that allows you yo sim trade the market you are looking it. For example, loot at Ninja Trader as this is great software that allows you to trade FX and futures.
3. Set up a sim trading account and take "practice trades" every day for the next 6 months (minimum). Treat this sim account like a real account and learn discipline and setups.
4. Watch and join trading forums that host your software and that trade your instrumemt. DO NOT pay to join any sites.  Steer away from paying sites, paying services etc for the first 6 months.
5. Watch as many free webinars from vendors, scam artists and so called expert traders as you can.  These will tell you what is available out there and give you more ideas on better indicators, methods etc.  DO NOT buy any courses or indicators from any of these people.  Just watch and learn.
6. Invest in a few good trading books.  There are lots of excellent books around and these are really inexpensive i the scheme of things.  This is where you will learn the most.

After 6 months of sim trading, you will have learnt how the market / instrument works and all the ins and outs.  At this point, once you have achieved a level of success, you can now open a small trading account and start trading for real.

By doing this, you will save yourself the $10 - 14k investment, which is a total rip off, as you can learn the same stuff over the internet for free.  DO not ever buy a black box as you will not learn how to trade or how to think like a trader.  You will just be a daily church attendee - praying every day that the system works.  This is gambling!

If you can not trade in sim for 6 months, then trading os not for you.  You have learnt a valuable lesson and saved lots of $'s.  If after 6 months sim, you think that trading is for you - then you have learnt patience and discipline and trading might be for you.  Give it a go and see what happens.

What ever you do, do not pay big money to a scam artist hoping that they will save you and make you millions of dollars - This happens in the movies and fairyland - not in the real world.

Happy trading


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## doctorj (9 December 2009)

This might be of interest to some - http://forums.whirlpool.net.au/forum-replies-archive.cfm/1175006.html

The authorised rep of Wealth FX also worked with (and perhaps owned equity in) Trade Wealth Development (http://twdfx.com/The%2021st%20Century%20Business.html).

You can review the ASIC finding against Trade Wealth Development here - http://www.asic.gov.au/asic/asic.ns...ns+orders+winding+up+Share+Trend?openDocument

Companies related to Wealth FX (via the AFSL) include:
Wealth FX
Consensus Financial 
Planet Wealth
Traders International
Nik Hallik

Many of which will be familiar to those here.

His company, Data 8 Australia P/L, also markets Global Trader which is also familiar to many.


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## lawtownnz (9 November 2010)

I have almost finished the course. I agree it is a lot of money, but I guess I decided to pay for the motivation and one on one training. They set up the software for trading and get the student to do homework to make sure the principles are understood. So far there are no hidden costs and I can see a good demonstration of how the methodology works as well as the cost and risk involved in placing a trade. I think I am about three months into it now and I am currently practicing the principles. I plan to do live trading soon once I can see that I have applied the rules consistently therefore getting a majority of wins.


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## TulipFX (29 December 2010)

Glad to hear you felt it was a wise investment.

$14,000 is quite a bit of money. If you have the personal motivation there are places like babypips.com which will teach you the ropes for free.

From there, start with a $1,000 live account. Demo accounts are nice, but once you have done the basics nothing beats the pressure of using real money. Trading is as much about the pressure and psychology as the methodology. 

You will probably lose 2 or 3 live accounts. You will however learn so much more.

End cost $2-3,000 and dare I suggest you will know just as much, if not more then you would through a course, provided you have the motivation and discipline.


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## Market Depth (29 December 2010)

First you got to ask yourself. If this trading system is so good, why are they trying to sell it to me.

I know if I had the perfect money making machine, I wouldn't bother trying to sell it to someone else. Why would you.


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## TulipFX (29 December 2010)

Market Depth said:


> First you got to ask yourself. If this trading system is so good, why are they trying to sell it to me.
> 
> I know if I had the perfect money making machine, I wouldn't bother trying to sell it to someone else. Why would you.




That is a very good question. 

Firstly, if I had the perfect money making machine I would not be letting it out either!

However, if I had a solid money making system, and it could be protected, I would. It is an additional revenue source for you.The forex market is worth 4 trillion dollars a day. Unless the system is trading the less liquid pre-Asian/post-US session you are not going to crowd out the market with your system.

It comes back to demanding a high level of evidence and treating everything with skepticism. 

As an example of a system I like: http://forex-combo.com/

Doesn't promise the world (ie get rich by next Christmas!!!), provides full historical testing and live forward results from the vendor plus many independent customers.

I have no affiliation with that site, I just wanted to point out an example of a system which I would investigate further because it provides open evidence of its performance.


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