Now up to 4 reports on reddit for this post has seen it get auto-removed – r/Forex is scammers paradise.
I have contacted Jack Larkin of Forexgears.com to re-instate it.
Fox-the-wise / the5ers.com – reposted with Mod edit.
Sorry, this post has been removed by the moderators of r/Forex.Moderators remove posts from feeds for a variety of reasons, including keeping communities safe, civil, and true to their purpose.
Whoever this is has been spamming r/Forex for 2 days. Its all publishing juice and the myfxbooks show 4000% returns – its all BS.
Its apparently a “elijah newell”, which links back to “the5ers.com” – some company out of Israel.
It has a trustpilot – so you already know its dodgy as f#ck.
Its run by a Gil Ben Hur – Ive just watched an interview with him – he hasn’t got a clue what he is talking about – “we shifted to premium education”, mentions “partners”…
They charge a “$550 Once-off Fee” to go through the evaluator program.
THIS IS YET ANOTHER PUBLISHING SCAM.
In the exchanges yesterday this “elijah” told us he is being paid to post by “the5ers.com“
In my research I have since found these “prop shops” are springing up everywhere – why?
- They are playing on retail traders belief this is really a prop firm. Retail traders are chomping at the bit to “trade for a prop firm” / “My dream is to trade for a prop firm”.
Bottom line is retail traders with $ signs in their eyes are gullible
as hell. (I am a retail trader but I have been around and seen enough to
know what is what… people in Forex/Crypto will swallow ANYTHING –
just read this subreddit).
There is a steady stream of people ready to tell me this is the new age and they are all legit. Well sorry – even the brick and mortar ones like Futex were dodgy as F – read up on them.
Bottom line – this air of mystique around “prop firms” is total bullshit.
have had no end of people contact me on Reddit and Twitter yesterday
day about this – guess what is missing from all but one ‘prop shop’ –
any evidence it is legitimate stuff.
Anyone that has come out in support of these places bar one ‘prop shop’ are unverifiable.
- As above – there is a video on The Moneyshow with Gil Ben Hur – he clearly has so little idea about trading its laughable. Are you seriously putting money into his pocket?
- As above they have a glistening Trustpilot page. Trustpilot is a dodgy company and scammers best friend.
- AstroFX have set one of these ‘prop shops’ up so you know its dodgy as F.
suspect not only the up front shopping cart payment page on these sites
says its dodgy as F but they could be running some white label/grey
label broker solution here – note these places are putting you on to
their MT4? – they get the broker signup $500-$1000 per seat then the
commissions on the round trip. Affiliate scamming is the name of the game at the moment – it is huge business for them.
Note the T’s & C’s about activity???
How do you know you are actually on a real live broker MT4 account? – you don’t. We have seen the videos on the ability to fake MT4 accounts – who knows what you are really sat on?
at the picture – the fee of $550 and a max drawdown of $520… You have
to make $920 and not go $520 into drawdown to qualify – as others have
said that means $30 profit already for a trail of failures.
If its some dodgy broker / mt4 setup (that I am sure AstroFX would setup) its pure profit here.
- Its not $550 either – click the payment page and they are adding some spurious tax of ” מעמ $93.50 ” “Total $643.50” – so that is even more profit.
- The checkout page is another farce – you have to check 3 unintelligible boxes – drawdown, maximum exposure, stoploss value – means nothing.
- This “Elijah Newell” spent the whole day on Reddit attacking me – it got to 75 comments deep. The way in which he attacked and constantly lied told me that this is seriously dodgy. (I have dealt with scammers on any web medium and have seen it all – no really I have).
After yesterday arguing with this Elijah and having to deal with the utterly useless UK FCA – I have got a headache – I won’t be responding – take it or leave it.