I have recently attended a webinar about training and trading for the apiary investment fund. It all sounds very exciting and they are very professional. I had a skype conversation with the customer service representative and asked them quite a lot of questions, about forex trading specific and they had very good and informed answers to all the questions. Has anyone been involved with this company? After I told them I am interested they mailed me the wire transfer information and after that they are sort of pressuring me for the payment which seems strange to me. They are asking $ 1295 once off and $97 per month after that. They train you for 3 - 6 months and if you can show positive growth on a demo account for 90days they fund you an account of $2500 and you keep 60% profit made.
Any help would be appreciated
Results 1 to 10 of 100
- 07-02-2012, 05:18 AM #1Recruit
- Join Date
- Aug 2009
Apiary Investment Fund - Too good to be true??
- 07-02-2012, 05:52 AM #2
- 07-02-2012, 05:59 AM #3Private, 1st Class
- Join Date
- May 2010
I too was looking at this concept but not finding any supporting web posts from independent sources (i.e. FPA) I decided to wait.
The "pressure" tactic is all the red flag I need to stay away... A legitimate operation does not need your business so badly they have to squeeze you for it.
My next concern was; After investing and taking their "training", there seems to be no assurance you will ever be turned loose with their money. There is some vaguely described approval process to be accepted and I saw at least two different descriptions of the "split" (60% and 70%). Let's not forget, "their funds" are undoubtedly a portion of all those $1295 fees, after all the $97/mo should cover their operating expenses. If they don't collect enough fees, there won't be enough funds to distribute.
On the surface it sounds enticing, but I'll bet the fine print states you are paying for training with no assurance being given or implied that you will actually trade a funded account.
The whole setup is quite interesting from a business model perspective... No risk to them, steady monthly income to provide "training", a pool of initial fees to fund small accounts and they share any profits from those accounts with little effort and NO risk. Think about how many "students" may actually get to trade a "funded" account? 1 out of 3? 1 out of 2? My guess based on the numbers, 1 out of 5! $1295 X 5 = $6475 divide that by $2500 and you get 2.59.
How many traders out there successfully grow a $2500 account first time out??? Second time out??? Ever???
Imagine, you are a lucky one and get to trade a "funded" account (your initial investment plus someone else's). You might make some money (and they will) or you will bust out (most likely). Either way, the agreement seems to have worked and they are the winners in any case.
A modern spin on the casino game?
If you're serious about trading Forex, great training is available free (Check here at FPA), Demo accounts are free (check any brokerage, just choose a reliable one), and put your $1295 plus $97 /mo into your own account. Trust me, you'll be much better off in the long run.
If that doesn't work for you, send me the $1295 and $97 /mo and I'll GUARANTEE you a funded account when you've finished training....
- 07-02-2012, 06:03 AM #4
Just two very simply words!
There are no short cuts and magic formula to becoming a successful & profitable forex trader other than to learn and practice trading the forex the old school way.
If you want a comprehensive and effective forex education (which is absolutely FREE) , read, understand, and learn from the "Forex Military School" section here at the FPA.
Even then, there is a word of caution at the end of the lesson that actual real live trading experiences will have to follow before you can even consider quitting your day job to become a full time forex trader.
Or I better the "offer"
Send me the course fee, pay me that monthly fee for 6 to 12 months (to be decided by myself).
In return, I copy and paste articles from here at the FPA, 100Forex Brokers, and other forex sites, and e-mail to you to "learn and become educated".
At the end of 6 to 12 months, I declare you "educated", set up a live trading account for you, take out some of the money you have given me, and make out a contract for you to promise me 40% of all your profits, but all losses are (as a matter of course) your problem and absolutely nothing to do with me.
Sounds fair to me!
Last edited by RahmanSL; 07-02-2012 at 06:14 AM."Making Profit IS EASY, keeping it IS NOT!"
Just to get here, most of us have to beat between 20 to 40 million competitors for the right to be born.
In comparison, what's a few thousand brokers??
- 07-02-2012, 08:16 PM #5
Pay us a fortune and IF you can meet our standards, we'll fund you is becoming way too common.
Allow me to lay out some of the possible traps.
1. You may never meet their standards - but they'll be happy to keep collecting that monthly fee until doomsday while you try.
2. If you do qualify for a live account, they may ask you for a security deposit equal to the amount they put in the account - in which case, why settle for 60% when you could open your own account and keep 100%?
3. Maybe you'll suddenly need some extra special training to put you over the top - only another pile of cash and/or recurring monthly fee.
Oh look. The CFTC busted a different company for a "pay to train and then we'll let you trade for us" type of plan: Federal Court in Illinois Orders Defendants Richard C. Regan and Pro Trading Course, LLC to Pay More than $600,000 in Restitution and Civil Monetary Penalties to Settle CFTC Anti-Fraud Action
The order finds that PTC, through Regan and its employees, used false and misleading promotional material and sales solicitations, which overstated the advancement opportunity and profit potential of PTC’s commodity futures training program. The defendants also failed to disclose that not one of the 126 clients who completed PTC’s training and became PTC proprietary traders ever advanced beyond Level 1 of the program, according to the order. In addition, no PTC trader ever met the monthly profit targets set by Regan or received profit “payouts” approximating those depicted on the “Payout Charts” Regan prepared, the order finds.
The order further finds that PTC, through Regan and its sales associates, used false and misleading promotional material and sales solicitations to sell access to PTC’s Virtual Trading Room (VTR). This created the impression that VTR sessions involved actual commodity futures trading, but they failed to disclose that Regan and his team placed only simulated trades while conducting VTR sessions.
There's also a mention of Apiary in this thread:
Last edited by Pharaoh; 01-15-2013 at 04:23 PM.
- 10-12-2012, 11:46 PM #6Recruit
- Join Date
- Oct 2012
I am sorry that i am seeing this message right now. I wish i had ended up here earlier and let you know that:
STAY AWAY FROM THIS COMPANY! Its a BIG BIG SCAM! There are a lot of other good and cheaper forex training options out there or some even free. They basically take your money, and don't do anything that they say they will do to help you. Once they get your money, they have no interest in helping you.
I hope my experience can help someone else save their hard-earned money and not just throw it in the garbage with these guys. Anyone who needs to contact me to get more details or anything about my experience, i would be more than happy to help you stay away from this BIG Fraud of a company.
- 10-13-2012, 01:03 AM #7
You have received 5 excellent replies to you request for information since July 2, 2012.
Let me add that all of this advice you received has been spot-on, and I concur.
I would be curious to know if you took the advice, or went forward with them anyway.
If you did go forward, by now you are certainly in a position to update this thread with your own sorry results.
Please keep us informed.
Anthony Ingrassia, CTA
NFA ID#: 0278164
PS: Asuhail, Thank you for reviving this thread, and for publishing your results for others to benefit from.
- 10-14-2012, 07:07 PM #8
Someone refresh my memory. Is Apiary in the USA?
If it is, and/or if asuhail is in the USA, then it's time to file a complaint.
Asuhail, as you can see above, the CFTC busted one outfit like this already. Complain to them. Also, send the same info to the SEC, NFA, and IC3.gov
If you paid for the "training" by credit card, you can also talk to the fraud department at your issuing bank.
- 10-22-2012, 06:19 PM #9Recruit
- Join Date
- Oct 2012
- 10-22-2012, 08:28 PM #10