With the industry littered with boiler house scams, how does a ‘scam artist’ (reference other posts) like Greg Secker get his badge of honour from the FCA? A LOT of mixed information out there as to wether he or any of his companies are regulated. It seems to me that the FCA are failing to carry out their duty of care to the public.
Hi,
What’s Greg Secker done wrong?
A long long time ago (like 2010?) I took his course in London. Despite the cost, I look back on that experience and I do not regret doing the course. I regret a lot less doing a course on Forex about six months later for about one eighth of the cost, but then again, the course owner Jimmy didn’t seem to have Greg Secker’s lifestyle needs either. 
Everything Greg Secker’s course promised was delivered, and very well too I have to say. The fact that everyone I met on that course gave up after a total of about six months says a lot about people, not about the quality of the course. I know they all gave up because I was the only one willing to host weekly calls with about 12 self-appointed members. In the last class just before closing, the lecturer said “you want to know something really shocking? 50% of you who have just paid the thick end of 3 grand to do this course will never actually put a trade on when you leave here”. And another 50% of the remainders will not trade for longer than 3 months". My group of 12 never met. The most I had in a conference call was 6, and that dropped away to 3 after six meetings. Then the other two just didn’t bother to turn up or even reply to emails. That’s the way this industry is - 99% fail to plan, so plan to fail.
Now I am still here. And I don’t know whether the other 11 were insane for having given up after spending £3K, or if I am the insane one for having stayed the course for the last 11 years. Only you yourself can decide whether you are an insane quitter, or an insane stickler. But you can’t call a service provider a scammer without evidence when they are not here to defend themselves. Not that I would expect they need to.
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I have never heard that Secker teaches a strategy that cannot work.
Maybe his courses are expensive, but that’s a matter for the trader training market to decide on, not the regulator.
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Mondeoman, sounds like a good connection you’ve got with the company. And its front runner.
Good for you!
The question was based around the fact that many people on these forums would disagree with you in the extreme, and most have their evidential reasons to the contrary.
I would say that the sheer volume of these reports are evidence enough, wouldn’t you?
To clarify the nature of the post, my question / statement didn’t position my own experience as being anything in relation to the company - I simply asked how the company attained FCA regulatory status.
As such whilst your deduction infers me as one of two categories - insane quitter - or insane stickler - you yourself might take a leaf out of your own book and refer to the fact that the evidence that you conjecture is not clear for you to be making such a point.
With such a sheer number of dissatisfied folk out there, it does lend the question, to be one of impartiality.
Wouldn’t you agree?
I’m glad to hear you had a positive experience with the company, and whilst brand loyalty is always a great thing to see - blind loyalty to the point of loosing mental clarity is not.
What would you say in relation to the topic of the post that queries how the companies have attained FCA regulatory status and what the criteria are for achieving and maintaining this.
As a veteran in the industry, I am sure you have some valuable wisdom to contribute to this threads post.
Sounds dubious to me - trainers telling the students that most of them have failed before the game is up seems quite bullish and bullying to me.
At the very least I would call it bad teaching practice.
Companies cant teach mindset and trading and tell students they’re going to give up before they’ve had a chance to run. It’s called negative priming and if it happened in a school or University, the teacher / educator could be up for a disciplinary.
What are your thoughts?
I’m glad to hear you were one of the ones who stuck it out and managed to overcome the negative suggestion. It shows a fantastic level of mental resilience on your part.
Question…. Didn’t you find it odd that the negative priming you refer to is so at odds with the positive psychology they use in the sales seminar?
I find these disconnects in advertising quite fascinating.
I have had nothing to do with that course or its employees since three months after taking the course. That was the extent of the one-on-one tutoring after the course that was part of the course, and in which I participated.
I was merely pointing out that if a new member wishes to make his second post a direct attack on a specific service provider, that is not necessarily helping other newer members. It seems that whilst I was relating my own experience, you were pointing out what others had said, which is even worse than making poor comments based on your own experience.
I was not aware that any of these “course providers” need to even register with the FCA. News to me, although at the time I took paid courses, there were many things not regulated that are now regulated (Nanny state). It’s called negative priming and if it happened in a school or University, the teacher / educator could be up for a disciplinary Wow, I am so glad I was educated in the 1970s and not now. Then again, I guess it is the objective of modern “formal” education to teach the masses how to be sheeple, which is the exact opposite of what you need to be taught to be a successful self employed productive member of society.
“many people on these forums would disagree with you in the extreme”. Please present just one example and link it to this thread, please. I have provided a description of my own experience, so please provide just one example to back up your rhetoric.
Replying to your thread title and not your first post because of specific names.
There is no difference in a regulated or non regulated scam artist - the only likely difference is in how they ‘scam’ or take your money - unregulated will do it by refusing to return your money and by demanding yet more whereas a regulated scam artist will will look to do that same thing using their T&C…
Bottom line for any learner is read the T&C if regulated and avoid if not.
Ad in google uk when searched how to obtain a FCA lic: -"Approval in 1 week - it doesn’t have take months"
Good thread question.