Hi There fellow forex traders!
I would like to review the Greg Secker forex course.
I went to a free seminar and the guy presenting seemed like a nice guy who answered all my questions quite well.
It all went a bit strange at the end when he said the fees to learn the skills to ‘get rich quick with their forex system’ was in the region of £17000! Of course, most people can’t afford this and then he said there were only 4 places available at a specially discounted rate of about £2500, if we signed up immediately and left a £500 ‘refundable’ deposit.
This seemed strange to me, but I really wanted to learn forex trading and did not want to pay the 17k, and so signed up there and then for a course that was 2 months away. I then thought I’d research it and pay the rest when I was satisfied it was worth it. I talked to other people and researched online, only to find that free training is available online and with trading companies once an account is opened, as well as there are very good books available from Amazon on the subject. In fact, ‘demo’ accounts can be opened online free of charge, and you can practice to your heart’s content.
After this research, I didn’t think I needed to pay 2.5 k for a course, and so asked for my money back, with still over 6 weeks to go before the course date. They were very aggressive, and said I owed them more money, but they would generously accept the £500 I’ve already paid and waive the 'other fees’
Clearly, the course is a scam. You can get all the info you need on forex online, with very little cost. And, there is no ‘silver bullet’ that makes success easy. Their claims are false. Save your £2500, and put it in your trading account!
Fareed Khan
Hey guys… Haven’t been here for a while… I’m glad the info I posted at least provoked discussion, even though because I was really pissed at being ripped for £2.5k I may have been slightly less polite than is usual.
I realised that one of the reasons I got into this mess in the first place is because I listened to the wrong advice.
One of the things about the internet is there is always the ‘he said, she said’ element. If one person says a course is rubbish, as long as someone else defends it, the reader is left with a mostly neutral (or even favorable) impression, depending on the actual discussion.
Therefore, in order to remove any accusations of bias, I thought that this article from the BBC might prove illuminating.
According to the BBC, K2A trainers have no qualifications at all, apart from having done the K2A course themselves. They even told an employee to say that he was an ‘advanced trading mentor’ even though he was actually hired as a ‘sales consultant’."
According to K2A "“We have never led any clients to believe our coaches originate from the City,” that may be true, but it is very heavily implied. I am sure that if they told the people up front that the people who would be teaching them after they handed over their £2.5k were sales representatives, then their sign up rate would drop drastically.
You can read the rest here:
“Get Rich Quick” Seminars put to the Test
BBC News - ‘Get rich quick’ seminars put to the test
So it’s really up to you… Believe Simon Templar, (I haven’t seen anyone else defending K2A) or believe the BBC. =)
As for me, I have moved on and chalked it all up to one of those things that pretty much all traders go through when they are green and vulnerable. Spend enough time around other traders and you realise everyone has a story along the lines of ‘I paid waay to much for a crappy course’. I think in all seriousness, it is a right of passage for anyone who actually wishes to go on to be a serious trader, since the only way to attain knowledge is from the starting point of ignorance and trading is something it takes a long time to master. (If you are not willing to give it two years of solid work, then trading is not the career for you…)
For all the others who have been scammed by K2A, you have my sympathy, but as I said, you are not alone, many people have made the same mistake. Hopefully such an experience will not put you off trading. There are many fine and honorable people in this profession, you just have to take the time to find them. A good way to tell is that if they ask you up front for money in return for assistance, then they are not the kind of people you want to meet.
Also, for the record, I realise that in a capitalist society, you should be legally able to sell something for whatever price people are willing to pay. Capitalism is no protector of the stupid, as cavet emptor clearly states. My beef with K2A is not that they are selling a crap product (Lots of people do that.) My beef is that the amount of money they are sucking from people could potentially [B]ruin their lives. [/B]Someone who has just received an inheritance or severance pay and who then gives it to K2A will be left essentially financially ruined [B]without any real skills that will allow them to make that money back.[/B]
Happily, that did not happen to me, but I am sure it has happened to some people, however, you are unlikely to hear from them, because they probably cant afford a computer any more and wouldn’t go near FX trading again if you gave them a million dollars.
Regardless of what K2A teach, the way they teach it is clearly high pressure and full of every sales trick in the book designed to convince the gullible, stupid, or hopeful. (As far as I am concerned, I was all three.)
It is [B]this[/B] that I fundamentally object to.
Taking money from banks, hedge funds, corporations, etc is one thing, but taking that much money from normal, middle class people can cause bankruptcy, suicides, homelessness and all the other stuff that happens when someone spends the last money they have on a desperate desire to get rich. Now as I said, it is perfectly correct to say these people are ill informed, or even stupid, but does that really give people like K2A the right to exploit them?
The extreme view of capitalism would answer yes, however, I think that anyone who did not have a heart made of stone would realise that just because someone is uninformed is not a good enough reason to attempt to fleece them for everything they have. Unfortunately, that is a moral argument and morals and economics don’t really mix.
In my opinion, K2A is knowingly fleecing the poor and stupid. I cannot prove it, but as the BBC article says, they instructed their staff to lie and say that they were ‘expert traders’ when in fact they were ‘sales consultants’.
Anyway, this post has already gone waaay longer than I originally anticipated. This will probably be my last post on the subject. However, if just one person changed their mind and didn’t lose their money to K2A, then it was all worth it. 
Dev
thanks, there is always more to learn
I attended their free seminar last September, and I was told that I was only one of 50 people that would do video testimonials for their launch into New York.
I was also told about the great deal paying only £2k.
So I went for it.
I was quite disappointed in the course, and did not feel that it was value for money, or that they came through with their promises. However, there were a wide range of people there, and it probably suited some, just not me.
I also didn’t like the hour where a loud shouty man tried to convince us to part with an extra £35K for more trading lessons. One man actually did!
I also had to pay monthly for the charting software, but their recommended broker was ETX Capital.
I trade a strategy that makes 90% with 3 pairs. I know that’s not impossible. The big traders like banks are trading completely different strategies because their hiding their movements, it’s called accumulation/distribution. You don’t know that and you say you worked for a bank?
I’m sorry, but to say that the information is freely available is ridiculous to say the least. As a professional trader myself, expecting anyone to piece together the free information into a useable and understandable strategy is expecting a lot from people. Free sources may give you some pieces to the puzzle but they don’t give you the whole thing. I’ve never seen a free resource that shows you how to place a trade and then manage that trade properly, and teach you what’s happening in the market at that time.
i do not join in course traning guys ! i have a trainning free with my broker liteforex . i improvemmy skill by trading in mini account guys !
I have a question for someone who has done the course.
I have acquired a copy of a DVD with Greg himself training a large group of people in the 3 different strategies they sell on the course. He doesn’t hold back on anything, and I believe the only thing I am missing is the software with the specially set up DMAs and other indicators (I didn’t get them with the DVD).
For anyone who did the course, is there anything extra that I would get on the course that I don’t get on the DVD (other than the pre-setup indicators and the coaching)?
I would love to get started in trading and I’m hoping I have everything I need already to start as the equivalent of a K2A graduate. :59:
Well that escalated quickly, I’m attending the training in a couple of weeks time.
I’ll let you know Steven, if someone doesn’t reply before hand.
So how did the training go?
Greg is not American either. He is English. Hence his offices are in London.
[QUOTE=“XeroFTrading;629539”] Greg is not American either. He is English. Hence his offices are in London.[/QUOTE]
Awwwh, don’t let the facts get in the way of a good story!
Hi folks, i’m new to this forum, and here are my thoughts.
I attended the free seminar and the 2-day forex course.
I enjoyed it. It cost a lot of money. Make no mistake. I got everything setup before the course started.
Our course presenter Tom seemed extremely knowledgeable. They made no bones about trading. They said it’s not a get rich quick scheme. They also said about 91% (or some other large percentage) of everyone attending the course would not end up being a trader because either (as they put it) life gets in the way, and/or people won’t have the patience for it. They concentrate a lot on the psychology of trading, and how you handle yourself when you make or lose money.
I really enjoyed the 2 day course. It had a university feel to it. However, there were questions asked during the course which they did not really seem to keen on answering. For instance, when they talked about lots, then someone asked… what is a lot ? That sort of thing. They did not answer it.
I guess the attention to detail is lacking when it comes to the mindset of the beginner trader.
Having said that, they release trading videos each week on the past week’s trading. Very insightful.
My coach who has left K2A to go on his own, is still advising me, so that’s an extremely good thing. And he is helping others as well.
I never used the 3 free coaching sessions, for reasons i won’t disclose, but having seen them expire was disappointing.
Adam Harris is one coach is has been extremely helpful, and he seems to care about the delegates. He has released youtube videos with some forex tips which are good viewing.
From my point of view, i’m just starting out again. So, i’m getting there, trading a demo account, so if anything, K2A have laid a foundation for me to work on. I have made money on their income generator, but as Adam said, practice, practice, practice.
I do not regret taking the course. However, from my point of view, you do need to really get stuck in and get working.
[QUOTE=“XeroFTrading;629551”]Hi folks, i’m new to this forum, and here are my thoughts. I attended the free seminar and the 2-day forex course. I enjoyed it. It cost a lot of money. Make no mistake. I got everything setup before the course started. Our course presenter Tom seemed extremely knowledgeable. They made no bones about trading. They said it’s not a get rich quick scheme. They also said about 91% (or some other large percentage) of everyone attending the course would not end up being a trader because either (as they put it) life gets in the way, and/or people won’t have the patience for it. They concentrate a lot on the psychology of trading, and how you handle yourself when you make or lose money. I really enjoyed the 2 day course. It had a university feel to it. However, there were questions asked during the course which they did not really seem to keen on answering. For instance, when they talked about lots, then someone asked… what is a lot ? That sort of thing. They did not answer it. I guess the attention to detail is lacking when it comes to the mindset of the beginner trader. Having said that, there are weekly videos released on the week’s trading. Very insightful. Adam Harris is one coach is has been extremely helpful, and he seems to care about the delegates. He has released youtube videos with some forex tips which are good viewing. From my point of view, i’m just starting out again. So, i’m getting there, trading a demo account, so if anything, K2A have laid a foundation for me to work on. I have made money on their income generator, but as Adam said, practice, practice, practice. I do not regret taking the course. However, from my point of view, you do need to really get stuck in and get working.[/QUOTE]
I’d echo that - I found that the course gives a start, but it was the coaching and the weekly webinars that then took me to a whole other level.