FXBootcamp review: Pros, Cons, and Traders Ratings.

3.451 • 88 REVIEWS
Wayne McDonell
Updated: Feb 2, 2024

What is FXBootcamp?

FXBootcamp is a forex taining company founded by Wayne Mcdonell to provide traders with educational courses learning how to trade forex.

Please read FXBootcamp Reviews below and share your learning experiences with this forex academy.

3.451 • 88 REVIEWS

Recent User Reviews of FXBootcamp

grumpy cat.2
cape town, South Africa,
Nov 10, 2020,
Registered user


Service use: Live Length of use: 3-6 Months
Bought a trading package from this guy i call him the 5 dollar scam ,after months of asking for a password and getting indicators he promised he keeps on denying payment ,i went as far as saying to him i am willing to forfeit the money for his videos as long as he send me hes 5 dollar indicator ,he loves himself and cant stop speaking about his harvard education yet he squabbles about 5 dollars he said he made 2000 pips yesterday ..stay away guys
UK, United Kingdom,
Nov 19, 2014,

First of all notice how long this guy has been around. Scammers don't last for over 10 years. Prices and methods vary over the years but there is usually some way you can get this service for virtually free by using a specific broker.
Wayne does not provide specific trades but explains a method of trading and points you in direction to find trades yourself. The methods used are not for people new to forex but can provide valuable help to traders with good basic knowledge. There are a large number of excellent videos which are free access and anyone serious about learning forex should watch these.
1 trader has found this review helpful
tampa, USA,
Jun 9, 2013,

i'm not a very good writer. I used fxbootcamp for 3 monthes. my conclusion. the guys teaching make money off students. they are very wishy washy. the only definitive statements are made in videos after the deal was done and one was right on that particular day. they teach you the basics that's all. I could have learned that on my own. everything taught can go both ways. in many ways, this can mess up your train of thought. so you're paying to be screwed up more. wayne is a businessman and his employees are too. just an advertising method of getting more dead money into the game while they make money off you with smoothe talk. everything I do now has nothing to do with all the antics taught there. emas and Bollinger bands are cr***. go with the trend is very up for debate. basically join fxbootcamp if you want to hear what you want to hear. the deal for them is to hold you there as long as possible so the guys teaching their not so confident method can be confident, (because it's wrong and they're searching off you), making money teaching only. so what they are teaching they don't do themselves because making money off you is easier and profitable. done. I make money trading forex doing something totally different. 100 pips a week not over leveraged is good for me.
Uk, United Kingdom,
Apr 8, 2013,

I've been with FXB for about 6 years on and off and i can say now with certainty that it is and has been an amazing learning experience.I enjoyed it most when David,Chris and and Curt where coaching and I learned how to be profitable by following there trades and ideas.However,now that I am successful I see how bootcamp has degraded itself to a free-service-that-you-pay-for.For what it was it was worth all of $300-$400 /mnth,nowadays with more free education and trading rooms popping up,I would advise anyone thinking of committing to rethink this service as it is not as it appears on NFP.It usually goes downhill once you've signed up and start paying.Sorry Wayne ,you've reached your sell by date

2011-05-20 1Star Fisrtly i have been trading for 4 years and only just started getting consistent results . I had a year or so with fxbootcamp and thought they were good thats why i stayed but now i have realised what a waste of time and money it really was. I have completely changed my style and setup after 3 & half years of trying the method they use but in reality they have not got one. They complicate things by useing 1,2,3,4,5 minute charts when in reality you should be focusing on higher timeframes. yes they do also use higher time frames but its almost like wayne wants you to waste your time and money. you will hear a lot of (i told you that would happen and Waynes ego must be as big as his head. ( MY ADVICE, IS DO NOT WASTE YOUR TIME LIKE I DID 3 HALF YEARS). get your own method and trade your own style, find something that works 60-70 % of the time with a good risk reward (1-2) and stick to it.

Just to add to my previous coment because i forgot to mention. Wayne will brag and show how many pips he has made on his (DEMO ACCOUNT) and say im up 3000pips this week when you can easily take trades in both directions and close the ones that dont work, then flash up the ones that are up 100's of pips in profit. he must think evryone is stupid. There are some very good traders there who i do think actually do very well ( Dave, Rob, Chris. but remember they are all on the payroll of Wayne big ego mcdonnell, so they have to abide by his rules.
Roger McDevitt
Brooklyn, N.Y., USA,
Aug 15, 2012,

Best value at fxbootcamp are the free youtube videos. Can't beat free. Great for newbees. But before you jump at the subscription check out the other free webinars sponsored by fxstreet and forexfactory. Many of the educators there will also have youtube channels, and with much more value than fxbootcamp. No way fxbootcamp is worth anything near $199 - $499/month.

Again, much more value at forexfactory and fxstreet and twitter. Wayne is a really good salesman, and a good number cruncher, and a really smart guy. But his pricing is less than transparent. The same crap happened to me as posted by Antonio, CA. Very borderline, but backed up by PayPal. The $199 trial looks OK? Get ready for reality - supprise, supprise, your first month will cost you $498. See if you can figure out the pricing at the fxbootcamp site in less than an hour. Less than transparent, and on purpose.

Paying more for fxbootcamp is a waste of money, and for most people a waste of time. You don't get what you pay for, or what is promised. ForexFactory is free and is worth many times what you will get from fxbootcamp. Same for twitter. Same for FxStreet. If you want to pay go with forexmentor and Peter Bain, who is a really honest and straight forward guy. Or $200/month with fxknight.com. Or a FREE scalping room where REALTIME trades are called with Greg MacLeod, Pip&Run.

How does someone starting out know how to find the best mentor or educator? The major pitfall is signing up for the best sales pitch. Rarely, or never, will the best salesman be the best educator and the best trader. The acid test is to find out what traders who have been at it for years respect. You will easily see that by going to forexfactory, or other forums, and looking at the most active threads.

What do you get in the Live Sessions? When Wayne is there it's mostly just lots of BS, and off-topic chatter. He's a talker, and when running the room, just loves to hear himself talking - about everything but what's going on in the markets, or on the charts. Why don't you know Wayne soon will be managing a Billion Dollar account, no Million Dollar accounts please. And that Wayne was a child prodigy, and ran a 2000 person corporation when he was only 19 before dealing with you ignorant proles. If asked something specific about a technical issue that relates to a chart, he'll rarely respond in a direct way. It's not that he doesn't know, he's a CMT. But it seems that maybe you should be charged extra for the info? That's not included with your subscription level? And you should be honored to listen to him talk about what he had for breakfast, Thank YOU! Mostly very condescending and evasive.

Curt is not a trader, and never claimed to be one. He's a statistician. If you like after the fact analysis, he's OK. For me he's less than worthless if I'm looking for help in realtime, and just a distraction. I'd like to see his myfxbook account reports. Like the saying goes: If you can't do, then teach.

The other two coaches, David Pegler and Steve? seemed much better. Why they don't start their own service beats me.
, USA,
Feb 29, 2012,

I have been involved with Bootcamp on and off for 6 years, spent $1000s of dollars spent and 1000's of hours in class, watching charts, trade planning. I'm still not a profitable trader. To be honest Wayne is about making money, when I was involved in Bootcamp, I never sat in his sessions, the other coaches were far more helpful...
Aug 11, 2011,

FX Bootcamp gives you the chance to succeed in an industry where the failure rate is high.
To become a professional trader takes effort, time and you can often be led astray by forums, cheap gimmicks, marketing and the overwhelming information overload we are subject to every day.

What it gives you is access to 5 Professional traders 5 days a week during active markets.
Do not expect miracles, there is still much work that needs to be done by yourself, however FX Bootcamp will keep you on the right path and keep you focused on building positive trading habits and give you the edge to succeed where the odds are against your survival.

You are subject to a variety of the key ingredients of trading: Technical Analysis, Fundamental Analysis, Trading Psychology. Its up to you whether you learn from these guys or not but I would recommend it to anyone who is serious about becoming a professional trader and for what u pay for 15 hours a day its well worth it. Plus if your already an active trader and you join there rebate program you essentially get it free.

I am glad i came across this bunch, and I have never looked back.
Jul 28, 2011,

Fxbootcamp, is seriously about helping you master a very difficult industry. With just 15 pips a day Wayne and team can set you financially free... New web site, Totally commitment to education you. Wish, I would have found them first, Could's saved thousands, and time too... Who cares... Try'm Live chat room like 12-15 hours aday... London Asian overlap then London NY... The coaches in the busines... Will anwser you questions, on the spot. Live.... Love it... Cheap for the money... In fact it's the best money invested to date.
Jun 15, 2011,

I am by no means a fan of the Great Wayne McDonnell, in fact I cannot stand the guy and it was his big headed, arrogant egotistical personality that finally drove me away after more than a year attending his program. I am surprised people close to him like his wife (I doubt he has real friends) haven't told him to shut up by now, you are committing business suicide.

If you can look beyond his story's about his very expensive vacations and lavish hotel stays at the Ritz and Waldorf and helicopter shuttles to his business meetings, his lousy singing and the sound of him in the background shoveling down cottage cheese and pineapple (yuck) and washing it all down with RockStar enrgy drink I guess you may learn a thing or two but it won't be from him. He will go out of his way to make you feel stupid.

On the other hand, his coaches David, Rob and Curt are awesome and enjoyable to deal with. I can't say that about Chris, he is also an arrogant, stiff, square, prick that somehow manages to be in every single big move the market offers day in and day out but only seems to brag about it after the fact. They do not put you into winning moves yet they brag about being in them after they happen. If he messes up on a trade you don't here the end of it all night, he just doesn't let up. He also complains that coaching prevents him from managing his trades and is always bragging about all the profitable trades he is in. If he wasn't so caught up in himself he could have been a decent coach.

On a finer note, yes, they put me in the right direction, I am a very successful trader now, however, I have developed my own methods and may not have figured it out without them. They have a very decent library of instructional videos and webinars.

If you are compelled to join I recommend hitting their private videos first and watch them all extensively over and over, read their documentations, and peer in on their live trading for a month or two, maybe even three then bail out. They also have an extensive library of videos on youtube I recommend watching.

Use them for what they are worth and to your advantage since I know Wayne is using others just to take their money.

Sorry FXBC, but I gotta call it the way I see it.
Oct 6, 2010,

I am honestly surprised to see so much negativity. I suppose it's because the Bootcamp tuition is higher than most classes. People tend to hold much higher standards for a higher priced service. Well, you get what you pay for in my opinion. I think the main problem when people don't like Bootcamp- it's that they are having a hard time admitting that learning to be a trader is a lifetime art, not some simple set of rules someone can tell you and you follow to profitability. I came to Bootcamp after "graduating" Babypips.com thinking it was a great resource, but what next? I certainly wasn't ready to take on the markets like Ed Seykota. I quickly became addicted to class, often attending all 5 (3hr) sessions per day. I realized that what I was paying was hardly anything for the hours of instruction and valuable education I was recieving The way I see it, I saved tens of thousands of dollars of losses and years of time by paying for Bootcamp. Considering what being a good trader can do for your bank account, I think the price is nothing compared to a college tuitiion that will land you a mediocre job. I have owned 2 bar/restaurants in my life and I can tell you that Wayne is not getting rich off of membership fees. He has 4 other coaches I'd recon he pays pretty decently, the Hotcomm software costs thousands per year to host the room, taxes, licensing, clerical and accounting work, promotions, all the stuff non-business owners never calculate in. I would bet he does little better than break even at this point. I am sure he makes more money on the referring broker side, but why do I care, someone's gonna get it, and if not, the broker doesn't give me a break anyway. Furthermore- I can just tell that Wayne enjoys trading, and he has a marvelous knack at hiring good coaches. I can honestly say after going to school all my life and hating most of my teachers, that I really like each and every coach there and would even call them good friends. They all have their own strengths/weaknesses, but all have good personalities and are very willing to help you through whatever issues in trading may be blocking you from becoming successful. All the coaches under Wayne, were originally students who graduated into successful traders. If you look back to the 2007 reviews- a David Pegler who wrote one as a student back then, is actually one of the best coaches there now! At the time of writing this, it costs $300/mo or $200/mo with an annual subscription. If you trade at least an average of 5 minilots per day, then you get a $200 credit per month from the referring broker program. That means it's actually free to the member if he/she trades enough! I probably do not need to be there anymore, as I have (through alot of work and dedcation) become a successful trader. I am still there because I feel I am part of a family now, and couldn't dream of trading all alone anymore. I enjoy helping the new batch of members, as I was helped by the elders when I joined. In my opinion, there is no scam, it still takes a ton of work and dedication, but if you are serious about trading, there is no better place to be. Oh, and I have networked and made many great trader friends in class too, an invaluable resource.