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SixCapital.sg Review Visit site

Updated: Nov 8, 2017
1.435 · 5 REVIEWS
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1.435 · 5 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

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Philip Ng,
Singapore, Singapore,
Jan 28, 2017,
Registered user

Trading as the future job

There is no way to make consistent profits unless you're on the inside. How would you know what the market maker thinks?
Raymond,
Singapore, Singapore,
Feb 5, 2015,
Guest

Need to have paid up capital to expand Six Capital's trading arm.
Not many people can afford.
steve,
Singapore, Singapore,
Jul 17, 2014,
Guest

I went for a review and sign up for the course as it was promised to be fully refundable with 18% interest per annum. I dun know about experienced traders but as a newbie, I do learn quite a lot about forex. And I managed to get my course fee refunded with interest!
James Teo,
LA, USA,
Dec 5, 2013,
Guest

To all people from Singapore.

Be aware of this place. If you are in the business sector, go ACRA website and search for "six capital". (http://www.acra.gov.sg/) Patrick can talk whatever he likes but singapore government won't cheat you on the ACRA profile. Download six capital's ACRA for SGD$5 and you will understand everything about this company. In the ACRAA it says this company is an educational institute. So be aware if you think you can get hired by trading well. I have attended the briefing in early 2012. Because I was smart enough to take a look at their ACRA first before going( their advertisement on website and job recruiting sites looked too good to be true, it alerted me), I instantly smelled rat there. I did not sign up for any course, and I knew what they make a living with.

Remember, look their ACRA first! just $5 will probably save you much more!
damien,
, Singapore,
Nov 6, 2012,
Guest

I attended training. I met a lot of ppl who thot they wld be rich tmrw. many not smart enough to understand what they are being taught.

every trade cannot be a win. otherwise we would all be rich tmrw. but i saw some guys sign up for expensive courses. Idiots! Why not do the low cost ones?

Whay pay 3.5k when you can pay $280 and follow trade with the chief in a live scenario? if he screws up so do we.

I also see traders on the floor who stay half the night and complain. Why not stay all the night and work hard.

Maybe some singaporeans are just pussies who have had it to hard.

put in the effort, get the reward. simple.
Jane,
Singapore, Singapore,
Sep 13, 2012,
Guest

I have attended the free 2 weeks seminar offered by Patrick. There were many useful ideas that can be incorporated by a more experienced trader like 10 seconds trading. But that alone will not make you money.
Patrick's business model is simple like all the other forex "gurus", they are introducing brokers, they earn a commission when you sign up with the broking house. In the case of Patrick, he gets a cut of the commission from Dukascopy. The more you trade, the higher his commission. 10 sec trading in and out with huge lot sizes will create huge commission for him. Students or even non students can sign up with Dukascopy thru SixCapital, and as long as you trade whether win or lose you generate commission for SixCapital, You do the maths!
That's why he's offering the 2 week intro course regardless if you sign up as a student. If you sign up to trade with Dukascopy, he's got you. Simply.
In fairness, go for the course and get whatever you can out of it.
Jane
Anonymous,
Singapore, Singapore,
Jul 31, 2012,
Guest

I was also one of their former students, and would just like to share with you my honest thoughts.

Patrick Teng does not care about his "students" at all. they are mainly just his money-making tools.

he advertises his so-called "Trainee Dealer Program" and fools you by asking you to go for his career briefing first. then comes his "promises" to offer you "a job" if you meet the KPIs.

any questions regarding how many people have passed the KPIs, how many people are trading full-time etc will ALL GO UNANSWERED.

his sales people will avoid the question HEAVILY by giving you crap answers such as "company confidential" or simply indirectly avoid the question.

then using their sales tactics, they will push and push you to sign up and part with your $3500.

well, let me tell you. no one has ever made the "KPI". the results of probably that only one student who had "made it" (he showed in his career briefing slide) isn't even in the company.

when Patrick teaches, you can see he is just smoking you.

when the market goes his direction, he will proudly declare "there see! it went up again". BUT, when it goes against his direction, he will proudly say "see? only the stupid people will buy/sell here".

when other students ask him for the exact price to buy, or point exactly where to enter, simply put, he doesn't have the guts.

to be fair, the first few lessons i was taught by another guy, and you can see that he really cares for his students. he will check scores and ask individual students who he thinks are doing badly and will help them. and he is the only one who dares to point to the class exactly where to enter. if he is wrong, he will admit it. and even so, i applaud him for that as no one is perfect. at least, he has the guts to do it.

unfortunately he resigned and hence patrick starting taking over, including this FX newbie who conducted our six steps analysis as mentioned by "Former Student'' here.

asked around and did some background check on her and she is nothing but an ex-engineer and an ex-student, ZERO real experience. it was really insulting for a new person to be learning from a newbie as well.

and when patrick teaches, the ONLY people he talks to are his own staff, and some of the students who are there for free (probably part of his marketing scheme, to make it seem like there are people who "need" him and can "make" money)

the rest of his students, he treats us like dirt. we have paid money, done.

if you try to ask him questions, he will answer them so indirectly you will be left even more confused.

i am really really disappointed and hugely insulted.

also, patrick was involved in the F&B storage card incident which left his staff "hanging".

they didn't get paid, they didn't know what the hell was going on and yet they had to carry the burden for the crime that he committed.

how fair is that to them?

and by the way, he's very cunning. when they pushed us to sign up for a LIVE account, one of the guy there explicitly told me to write "IAID 1133" on the first page.

at first, he told me it was to associate them with their company and to get possible "future discounts" if i trade with them.

later i found out that it is so that patrick teng can get rebates from what i was trading for himself! imaging a whole class of live traders = alot of money for him.

and no, he doesn't and will probably never return the rebates even if he has claimed to.

he also forbids other people from using other brokers and now, i guess i figured out the reason why.

this guy i talked to also told me about one of their company (i think, cannot remember). it's called AIC.

apparently you can park your money with them (in tens of thousands) and you can "be your own boss". really, i don't know the concept of how it works but i remember he told me that whatever you gave patrick, you can only trade 20% and he will keep the other 80%, probably as safeguard in case you lose all the money trading.

really? maybe he will just elope again like the storage card incident.

recently i heard from friends that he has offered "free courses".

well, knowing what he's like, i can assure you that you have to start paying probably after 2 days or something.

like what the others have said, do not ever ever pay your money to six capital.

as others here have said, it is much better look for free courses online and from books. you'll learn the exact same thing for free, and with less the frustration.

i sincerely hope none of you gets swayed by patrick's sweet talk. because like me, i was duped by his confidence and empty promises.

please think twice.
Ex employee,
Singapore, Singapore,
Jul 13, 2012,
Guest

I am an ex employee of 6Capital from Jan 2011 to Dec 2011. I would like to reveal the truth about the company. In fact no one in the company has make money trading "live". And the chief dealer Patrick Teng don't even trade at all. Ask any of their traders to show their actual trading P&L and you will know that you should not attend their course. You will be better off getting free trading lessons from the many internet website like FXCM.com.
Former Student,
Singapore, Singapore,
Jun 8, 2012,
Guest

I would like to advise those would be forex traders to think seriously before signing up. I attended one of Patrick’s early intakes. I must say that I was also duped by the sweet talk and promises.

After completing the course, I felt cheated too and did not gain much and overall he had not delivered what he promised.

Although the chief dealer used to be from big banks in the 80s, trading in the past and now is totally different. There exists a vast difference between institutional and retail trading. The tools and strategies used in the past are no longer relevant in today’s market. So don’t think he will be an expert in today’s market.

In fact, I was quite shocked by the way he delivered the classes. First of all, there were no handout or notes. On the first day, he talked about his six steps analysis(which I think is essential but I think it’s more of a marketing gimmick than anything else – Why six steps??). He then explained and wrote down the points and eventually asked us to copy down. He then ran thru common chart patterns like pennants, h&s, triangles. Later in the evening, he will briefly run thru with us the chart on where the supports and resistances were. But he always gave a neutral point of view. What shocked me was that he mentioned he does not know or use candlestick. So my question is, where are the forex price actions he promised. Price action is supposed to read the sentiment of the market from the chart and allow us to trade profitably but this was not delivered. If that’s all the information one will be getting and so called “price action”, I suggest you better get any forex book to learn. It will have more details. Also, I found that he is also not fundamentally strong. I remembered once someone questioned him on the market outlook, he briefly touched on and dodged away switching subjects. You will be even surprised to know that the top elite from the class became the instructor for the following batch!!

Seriously, I think this company operates more like a business than an educational institution. If you are looking to learn to trade, it will be better to look elsewhere. If you are thinking of leveraging on the company fund to profit, you can try even though I am quite skeptical about the high net worth clients and companies investing in it.

Why I say this is a profit driven company. That’s because the chief dealer is a businessman more than an educator. After his stint as chief dealer, he went into F&B setting up company Indigoz Ichqs (Formerly Indigoz Exhange that has been wound up)dealing with stored value card. But somehow, it was fined for breaching banking acts and ended up with legal suits and frauds. The article can be found :

http://business.asiaone.com/Business/News/SME%2BCentral/Story/A1Story20080306-52966.html

If Forex trading is so profitable, why didn’t he continue but ventured into F&B and only set up this company after the former business ran into trouble?? I came to realize this after attending it. If I have knew earlier, I wouldn’t have even stepped in.

Like I said, Patrick is a businessman by nature. He knows what the consumer looks for. So when he set up this company, he did things differently from what other companies would do.

1. He take in students via the Recruit Section of the newspaper instead of conventional advertisement. This makes it look like it’s a job more than a course. However, during the preview, he will tell you that you need to pay for the course and only if you complete and pass the course only then you will be hired. By sending in your CV and observing you at the preview, he can sieve out those hard to handle and difficult students.
2. He got a foreigner “dealing with hi-net worth clients” to talk in his preview to make it more impressive as though the company itself is dealing with hi-net worth clients/companies. He talked about “price action” used in institutional banks that he will be teaching to entice would-be students but never deliver.
3. Very well done website with a corporate image look with office address at Battery Rd (Raffes Place). But actually the office is a serviced office address and a one man operation at that time. He knows that younger people will definitely google to find out more; hence a professional image is essential to attract people.

So what is the business model.

He will take in “filtered students” that are easy to handle with each of them paying $3500 that will go into his pocket to continue and run this model. Even if you do not know how to trade forex, he will tell you some chart patterns and how to draw lines. From there, the student used his instincts to place trades. End of the day, his objective is to look for students who can consistently profit from the market (you will be surprised some who have not traded forex did quite well so it does not matter if you are seasoned trader)

From the pool of consistently profitable traders, they can trade with the company fund and help to propagate company’s fund. Hence, this people became the moneymaking machine for him. This is indeed a very good business model.

At the end of the course, if you did not pass the requirement, he will say “The door is always open. As long as you can trade profitably and submit to him the result, he will consider you again to be part of the elite.”

Since my completion of the course sometime back, I have not heard of any after course follow up or alumni formation. Although in the past, I did receive some emails on the trades they will be taking (probably written by their elite students), it has since terminated it promising to roll out even better one but till today, nothing is heard. What I saw is an improved and even better looking website filled with testimonials and images of top executives. I am not sure if it has changed for a better. But from what Salvador has written, it could well be the same. Therefore, please check carefully and clear your doubts before signing up.
Six Capital,
Singapore, Singapore,
May 2, 2012,
Guest

We thank “Salvador” for the review on 12 April 2012 and take this opportunity to introduce Six Capital and its Trainee Dealer Program to the forex trading community at Forex Peace Army.

SIX CAPITAL™ is the Centre of Excellence for Foreign Exchange Training and Trading in Asia. It was founded by CEO and Chief Dealer, Patrick Teng.

Our aim is to train and grow a talent pool of proprietary forex traders in Singapore and the emerging markets in the region. Our dealing room at Shenton House sits 12 forex dealers. Our trading floor sits 72 proprietary forex traders and our training room sits 28 pax.

We use interactive projector technology to facilitate several hundred trainees to join in the live trading sessions with the Chief via webinar – a web conference technology provided by Citrix Systems, Inc. (a Nasdaq listed company: CTXS), based in Santa Barbara, California.

Our flagship Trainee Dealers Program has accepted over 700 trainees from Singapore and the region, for training and mentorship since October 2009. About 45 of these trainees have been employed, either full time or part time. Currently, about 250 traders are trading with the Chief regularly.

We have to date offered about 20 scholarships and training sponsorships to outstanding individuals. The most recent six recipients are highlighted in our website http://www.sixcapital.sg/scholars.asp. They are high caliber individuals, including a government scholar with a Masters degree from Oxford University, a former A*Star scholar and research engineer, CFA graduates and a CPA.

Our full time employee traders are also listed on our website http://www.sixcapital.sg/traders.asp. However, it is not appropriate to list our part time traders.

Six Capital has the credentials to train, mentor and lead in the trading of Spot FX (i.e. 10 seconds and 1 minute price actions) and intra day position trading (i.e.10 minute price actions). In fact 75% of our traders’ positions are executed and closed within 90 seconds.

Our Chief Dealer, Patrick Teng, started his banking career in FX trading in 1981 and held the position of Chief Dealer for global financial institutions. While still in his 20s, he was the Vice President and Chief Dealer of Chase Manhattan Bank, making him one of the youngest chief dealers in Singapore at that time. Patrick was also the Vice President – Treasury of Union Bank of Switzerland in Tokyo, where he actively traded as an inter-bank market maker in the world’s third largest FX market.

Six Capital’s training methods and curriculum are also recognized in the education domain. We offer the Specialist Diploma in Foreign Exchange in collaboration with Informatics Academy – an SGX main board listed company with Edutrust credential. Its syllabus and content has been approved by the Council of Private Education (CPE) a statutory board empowered with the legislative power to regulate the private education sector.

We have a fulltime training manager to oversee training administration and trainee’s performance management. Prior to joining Six Capital, he was Senior Training Officer of a statutory board with over 700 staff.

Our Capital Traders and trainees “Trade with the Chief” (TwC) in the evenings from 7pm to 11.30pm.

Trainees are expected to do their own Six Steps Analysis of the markets between 7.00pm – 7.30pm. Thereafter, one of our full time forex dealers will present the dealing room’s version of the Six Step Analysis to the traders on the trading floor and the trainees over webinar from 7.30pm – 8.00pm. The dealing room’s version of the Six Step Analysis is prepared as a team effort and approved by the Chief before it is presented to the trading cohort. The Chief leads the live trading of the London and New York markets from 8.00pm until 11.30pm.

Below are two reviews from our traders, one on the trading floor and one via webinar.

“I really enjoyed attending the supervised trading session. It was such a good experience even just listening to Chief’s explanation and analysis of the market move without having a position. I am confident that I will be able to achieve the Six KPIs after that.” – (Participated on the Trading Floor)

Dr. Yang SC, a Chemical Engineer with Ph.D in Applied Chemistry

“It was the first time I “attended” such a Webinar. What impressed me was the ease with which Chief reads the live charts. He is practically “a living textbook” – reading and explaining the various patterns (as they unfold). Another thing that struck me was his ability to predict the next probable move, an ability that must have come from his deep knowledge and experience trading against the best in the world.” – (Connected via GoToWebinar)


Mr. TL Chong, a Regional Director with a Bachelor in Business

Our selection process for offering full or part time employment is transparent. The KPI Matrix has 6 levels; Foundation 1, 2 & 3 and Professional 1, 2 & 3. Trainees are not encouraged to open their own Live Accounts to learn so that they can remain objective in their trading. Once they reach Professional 1, they will be trading on the Live Account of the Company.

Any suggestion that Six Capital needs to raise funds from trainees is hearsay and incorrect.
At Six Capital, while our selection process for the Trainee Dealers Program is stringent, unsuitable candidates do fall through the cracks from time to time.

We are well aware that a small percentage of those who join the program had in fact lost money trading on their own before they joined our Trainee Dealers Program. Some of them hope to take advantage of our Trade with the Chief (TwC) sessions to do a few quick trades to make back their money. We do not design our TwC sessions to cater to this purpose.

We suggest that Salvador contact us at enquiry@sixcapital.sg to discuss the appropriate refund.

Our trainees come to us at different stages of their career – 55% are employed but looking for a career switch; 25% are unemployed and have the desire to learn a new skill to start a new career, while 20% are fresh graduates.

Applicants to our Trainee Dealers Program who do not qualify for scholarships or training sponsorships need to pay a fee for the 4-month program. Those who are currently employed pay $3,500. Unemployed individuals and fresh graduates are eligible for a 30% and a 50% grant respectively.

Our Chief is committed to impart his professional skills in forex trading to those who have the passion to want to pursue forex trading as a full time or part time vocation.

We are proud to have also provided 45 full time jobs and imparted skills to several hundred who have committed to pursue this vocation part time.

Six Capital Management