Trading in the Forex market can be a life changing experience and give you the options to do what you want when you want. If you pick the right product you can even do this with no experience by using forex trading robots, however I don’t advise that anyone uses these without having some experience in trading.
Freedom Rocks Expert Review by Brian Garvin and Jeff West
Freedom Rocks is a company which combines Multi-Level-Marketing and Forex investments. The company offers members a chance to make money by recruiting other members into the program while generating returns in the FOREX (foreign exchange) market as well.
Mark Vincellette is the founder and President of Freedom Rocks. He created the original Freedom Rocks formula to trade mutual funds and stocks during the 1980s. While pursuing a career as an IT professional and management consultant, he worked on trading his personal portfolio on the side. On July 1, 2002 he launched a program that would later become Freedom Rocks. In 2004 he modified this program so that the system could be used in the FOREX trading market.
Freedom Rocks Inc. began on January 1, 2005. At first, Freedom Rocks used a stock market and mutual fund trading system but it was replaced on November 1, 2005 by the current Wealth Builder (FOREX) program.
Freedom Rocks teaches its members how to use proprietary software which allows them to set up their own trading accounts (with a brokerage of their preference) to enable currency trading rather than teaching people how to trade foreign currencies.
The Freedom Rocks trading system allows members to generate revenue in three ways. The first way gives members access to the Freedom Rocks website where they can log in to their Portfolio Manager and Portfolio Allocator. Using these tools, members can learn which currency pairs are planned to trade against one another, how much money is going to be invested and how much risk the company is willing to take.
This gives predetermined price points which are entered into the Freedom Rocks brokerage account software. Accounts are then set to an “automatically trigger” setting which allows for trades to be made based on whether the member wants to buy or sell a certain number of lots (shares) for each currency pair.
The second way members can make a profit is through passively collecting daily interest. Freedom Rocks earns money through the difference in interest between the currencies set by various countries’ central banks. This is referred to as “carry trade investing”. When a member sets up their portfolio the right way, they will be paid daily interest on the money that they control.
The third way to earn money with Freedom Rocks is through leveraging. This means that for every dollar a member places in the market they can control up to $400.00 in the open currency market depending on their risk tolerance. Members can leverage up to 400%.
Before beginning with Freedom Rocks, members can practice with a demo trading account. Bonuses are also available at Freedom Rocks and include a new enrollee bonus, a one time $75 referral bonus for every new customer or Active Sales Representative a member sponsors. Other bonuses offered by Freedom Rocks are the residual bonus, matching bonus, and car bonus. I’ve never seen a program like this last over the long haul, so proceed with caution and take out your principal ASAP!
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4 comments - add yours
Simon from Forex Supernatural Review
August 18, 2009
Runar from Top Forex Trading Courses
November 10, 2009
While systems and programs like this may sound good to those looking for a quick way to earn money online, I would recommend to learn to trade forex properly instead, or in addition. It is adviced to not listen entirely upon ‘Expert Advisors’ and ‘hot tips’, but instead using simple trading methods based on technical indicators and trade on your own where you have full control after getting the confidence through practicing on a demo account.
Freedom rocks sounds like an appealing option though, and by looking at their webpage they do offer additional tools as well as training webinars, and the option to have your account managed or self traded. Indeed a interesting program, thanks for sharing.
amiel from options trading system
December 9, 2009
I definitely agree with the above comments. One should avoid plunging directly into trading relying solely on this so called “robo-traders”. Proper education regarding trading, as well as its system and options, should properly be undergone by aspiring and hopeful trader, otherwise he will just be wasting his time and money. One should understand first the basics of trading. This robo-traders, or automated trading are just tools in helping the trader to deal with more complex matters. Fundamentals are very crucial to learn if you don’t want to be blind by the trading systems.
Susan
April 15, 2010
Freedom Rocks introduced One World Forex – a now defunct broker as one of their recommended FX brokers and did not tell anyone that OWFX was in trouble until it was too late to get out. People have lost hundreds of thousands of dollars and there is a lawsuit being prepared against FR for their involvement. Hungary’s financial market regulator PSzÃ?F on Monday said it reported Freedom Rocks Inc, a US-based distributor of software for forex trading, to the police on suspicion of organizing a pyramid scheme. PSzÃ?F said an investigation it carried out established that Freedom Rock’s activities cannot be classified as investment services or the intermediation of such services, but it still warned potential clients of attached risks.PSzÃ?F warned that neither Freedom Rocks nor the brokerages it recommends fall under PSzÃ?F’s regulatory powers. Neither are members of Hungary’s National Deposit Protection Fund or Investment Protection Fund. Because they are all based abroad, legal recourse may not be taken in Hungary, PSzÃ?F added.Information distributed about Freedom Rocks puts special emphasis on network-building, namely recommending the company’s products to other clients, while it fails to draw attention to the additional financial risks related to FX trading, PSzÃ?F said.
