Proform Trading

[mono74]

What makes them seem legit to you? Have you been trained by them?

No i haven't been trained by them, but i am researching the company and they have an A- rating at BBB. No-one on this forum can give any hard evidence that they are not legit. The training in their website which is accessible to anyone for free is pretty comprehensible. The only thing i can think of is that people are not following it through until they succeed. Maybe they give up too early

 

[Mary Lou]

I only know, that Proform-Trader, - is the name of the auto trader robot, that is exclusive to Apiary Members at Apiary Fund. There are in-house designed scripts named Proform Scripts which are the library of instructions for the Auto trader they have created and used exclusively by Apiary Fund Students and Members. No mystery see!

 

[RobinHoodjr]

Apiary

I only know, that Proform-Trader, - is the name of the auto trader robot, that is exclusive to Apiary Members at Apiary Fund. There are in-house designed scripts named Proform Scripts which are the library of instructions for the Auto trader they have created and used exclusively by Apiary Fund Students and Members. No mystery see!

I think the question of "is it a scam or not" is setting the bar too low. Even if they are not a scam, doesn't mean they are worth your time and money. The starting question should be, rather, "is it a worthwhile business venture" - - right? So if that is the question, lets consider:

*Course of action A:
- Spending $3000 to $4000 on training
- Waiting for approval to be funded, lowest starting level is $2800 (according to website)
- Receiving 60% of your earnings at the lowest financed level (Apiary takes 40% commission, as well as absorbing all losses)

- versus -

*Course of action B:
- Obtaining free training online, say from babypips.com, forexacademy.com, or other sites
- Using the $3000 you would have spent on training, to fund your own forex account
- Receive 100% of your earnings

Given this perspective, it seems wiser to exhaust free training resources first before investing in "professional" training / education. As to whether it is a scam or not, that remains to be seen. Certainly there are plenty of scams out there. Personally I attempted the first 5 weeks of training with Apiary, and later quit because they kept calling me on the phone and trying to force sell me into joining an advanced training program... they called it the "fast track" but to me it sounds more like a fast track to poverty.

To me, any business, forex or otherwise, if a business doesn't offer any type of warranties, guarantees, refunds, satisfaction, etc... that shows me they have zero faith in their own products. If a business doesn't trust their own merchandise, should you? This is regardless of whether or not it is a "scam"....

Grace be with you-
Robin

 

[Pharaoh]

No i haven't been trained by them, but i am researching the company and they have an A- rating at BBB. No-one on this forum can give any hard evidence that they are not legit. The training in their website which is accessible to anyone for free is pretty comprehensible. The only thing i can think of is that people are not following it through until they succeed. Maybe they give up too early

In the case of investments, the burden of proof is on the company, NEVER on the investor. If there's any hint of doubt, the best possible course of action is to take your money and walk away.

 

[remote_joe]

Its all linked to Utah...

I suggest some caution here, especially with the Apiary Investment Fund (Apiary Fund | the Apiary Investment Fund), as it does not have yet a long enough track record on the various trading related forums and blogs. From the fragmented pieces of information available, the most troublesome is the followings: According to Proform Trading LLC Announces Reorganization, Spinoff of Boulder Capital Management and Apiary Investment Fund | Online Banking, Trading, and Insurance, the head trader for the Apiary Investment Fund is Mr. Shawn Lucas from Pleasant Grove Utah, whose name is connected to the program “Teach Me To Trade” (Shawn Lucas, Teach Me To Trade | Spoke), which currently has 52 reports on the “Ripoff Reports” site (teach me to trade | Ripoff Report Directory | Complaints Reviews Scams Lawsuits Frauds Reported).

Many of the “too good to be true” educational/trading ventures are located in Utah and Florida. Once they get a bad name, they spinoff to another company and restart it all over again in another tiny town along the Salt Lake City corridor. They typically entice inexperienced traders to put money upfront (from about $700 to $8,000, non-refundable) for an educational period (which lasts at least several months). In return they would not only teach the “students” how to trade but would work with them to trade successfully to at least recover their educational fees, or, in the case of the Apiary Fund, to become active traders in their fund. These promises are often unfounded.

The Apiary Investment Fund itself, as well as the Boulder Capital Investment, is a spinoff of Proform Trading LLC. What stands behind these 3 entities is unclear to me yet, so I advise caution when dealing with them, especially when they ask you to send them a non-refundable sum for “educational/training” and “technology/software usage” fees. The entity “Boulder Capital Investment”... SNIP

Let not forget that the notorious “Teach Me to Trade” program was run by the Wealth Intelligence Academy out of Cape Coral FL, and that Mr. Shawn Lucas was part and this program. All of these gentlemen might be the most honest and nice people on earth, but the inter-connections between “Teach Me to Trade” , Mr. Shawn Lucas, “Boulder Capital Investment” and the “Apiary Investment Fund” would personally bother me a lot before I would subscribe to their ventures. At least do your own due diligent research before committing any funds.

Moderation Note: Boulder Capital Management is a spinoff of Proform Trading. Boulder Capital Investment is not. Please try to be more careful linking companies together.

These fraudsters are from Utah and so is Apiary Fund.

Duo From 'Teach Me to Trade' Seminars Charged With Fraud

 

[downtrend]

Sometimes, I d like to be allowed to post there about certain companies. But the FPA rules say that the reviews and ratings section is open only to those who have been actual clients of the company that is rated. So my hunting ground is more the " scam alerts " folder and the " Anyone heard of...this scam ? " folder.

Rightly said, as the moderator has already caught one false information sharing members and as they have access to check the IP's of these crooks so its a clear sign than only fine reviews will be available here on FPA about any certain company.