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What Does Industry Agnostic Mean? – Sector Agnostic Meaning

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We can hear word agnostic on TV, in school, and books. However, this word can be applied in religion and the industry.

What does agnostic mean in life?

The agnostic meaning in life, philosophy, and religion imply a person who neither believes nor disbelieves. In religion, an agnostic is a person who neither believes that God exists nor that God does not exist. Usually, an agnostic person implies that human knowledge is limited to experience.

Many companies offer services, technology platforms, and products in business and finance. Companies can focus only on one industry or create products/services applied to various sectors.

Industry Agnostic meaning

Industry Agnostic company doesn’t specialize in a specific industry sector. Instead, an Agnostic industry company represents any company (investment banks,  IT industry, any other industry)  that applies its knowledge, products, and technologies in various industries instead of only one specific industry.

Industry agnostic or market agnostic, or sector-agnostic approach means that they are unbiased in implementing specific technologies (for example, pattern recognition software) to solve the various business problems in multiple sectors (finance, agriculture, civil engineering, etc. ).

Watch a video about industry agnostic meaning from our youtube channel below:

These kinds of firms have a focused market look. But they may work in various industries.

Industry agnostic examples

Company A creates machine learning algorithms and implements them in the banking trading sector. Company B makes machine learning algorithms and applies them in the banking sector, the construction industry, the business industry, the environmental sector, etc. So Company B is an industry-agnostic company.

Sector agnostic or industry agnostic

Sector agnostic companies don’t specialize in specific sectors. Sectors are general segments in the economy, more significant than any industry. Term industry-agnostic is better than sector agnostic because it refers to a particular group of companies operating in a similar business sphere.

The working method:

For example, an investment bank may not know who the buyers are. They also do not know the industry-related information to increase the value for their customers. On the other hand, industry-specialized people are very beneficial for an investment bank to sell the business and grow at the highest reach. Therefore, the investment banker will need knowledge of the industry and its related issues.

Let us see a few examples.

Below is a presented IT solution company that is a pure example of an industry agnostic company:

industry agnostic company example

As we can see image above, the company offers solutions in healthcare, automotive, e-commerce, sport, fintech industry, etc. This is an example of an industry agnostic company ready to apply solutions not just in one industry niche.

Another example is TechArt. The presented company is an industry agnostic company and offers services in several sectors:

itechart example of industry agnostic company

Usually, in the forex industry, we can talk about banks and investment companies that are industry agnostic because they cooperate and invest in various industries. They didn’t bond with one niche industry.

What is a Sector Agnostic Fund?

A sector agnostic fund represents investing company that invests in various types of startups such as retail startups, eCommerce startups, machine learning industry, automotive, construction industry, etc. Usually, sector agnostic funds invest in several totally different industries,  from Software-as-a-Service (SaaS) industry up to direct-to-consumer (D2C) industry.

Industry agnostic managers

Industry agnostic managers represent people with broader knowledge, such as IT, healthcare, and finance. They should be broad-minded people. They should not hold back any of the two opposing parties on a particular topic.

Sector agnostic advantages

The most significant industry agnostic company advantage is the potential to sell products or services to more B2B companies, or individuals, to target various industries and develop faster in-demand markets.

While talking about shares, stocks, and equity, you should know that industry-agnostic is a smart and equipped professional. They know better how to invest in large-scale stocks, bonds, and shares. The skilled and experienced agnostic has a clear-cut idea to invest in fixed and dividends. They should be open to all such plans. They are ready to take ideas from the shareholders and share tips.

They also need partners to complete the transaction. Agnostic firms have unique perspectives on making a profit. The agnostic can help you a lot in these respects. They know how to handle an equity firm’s and private organizations’ profit and loss structure. They can also give tips to the shareholders. It is necessary to grab the details. But in this case, the agnostic should not be biased at all. They should take a neutral position. They cannot take any of the two team’s sides. They can handle so many things but not from one’s hand. They should have essential communication, relationship building, analytics, product knowledge, and competition. They must know the details of industry competition, market landscape, and business strategies.

The agnostic should know the industries and widen the scope of a company or business firm to overcome future challenges. They are here to increase the level of confidence in a company. They are ready to give you the critical factors of the industry and its related knowledge. Thus, the industry-agnostic experts will help you to overcome some exciting challenges.

However, the technology-agnostic term has a different meaning than product agnostic, industry, or sector agnostic.

Technology agnostic meaning

Technology agnosticism represents an open-minded approach to choosing the right technology for yourself or your business. Technology agnostic companies and persons do not buy cheap and big brand solutions; they test many platforms and technologies before choosing the right one.

A technology-agnostic person is open to learning,  applying, and testing to achieve desired results versus choosing the cheapest solution or some famous brand.

 

What is Deviation in Forex? – Deviation in MetaTrader 4 & MT5

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In this article, we will explain two meanings of deviation in forex: general and narrow.

This article will analyze trading moments when the executed price is not the same as the expected execution price when we have a price deviation in MT4 or MT5. This can mean you get an unfair execution for your trade without knowing what happened to the original price. Forex deviation means we can define it in two ways: in the general sense, we are talking about standard deviation in forex, and in the narrow sense, we will speak of slippage.

What is the deviation in forex?

Generally, the deviation in forex measures currency price volatility and market activity. Standard deviation in forex measures how widely price values are dispersed from the mean or average. High deviation means closing prices are falling far away from an established price tell. Low deviation means that closing prices are falling near a selected price mean.

We can explain standard deviation as a market activity because when standard deviation increases, market activity usually increases too.

what does deviation mean in forex

However, traders often use the term deviation when pointing out existing slippage.

In the narrow sense, price deviation or slippage refers to the price difference between the expected price of a trade and the price at which the trade is executed. For example, slippage is a standard error that occurs during the volatility market and wide spreads, and trades are filled at a price different from the requested price.

Futures and forex are different financial instruments, but their trade ways are pretty similar. Standard deviation is a popular technique used in trading for forex. An experienced individual knows that a sudden volatility spike can close out profitable future trades as losses. This is where the standard deviation comes in. It helps to establish the currency pair’s volatility before placing the order. The deviation is derived from statistics to understand a data set’s variance from the mean value. The higher the value from its mean, the greater its standard deviation.

In Forex, the deviation is used to measure the volatility. Traders use deviation to put the current action price context by determining a periodic price’s closing relation to a mean or average value. This deviation is also known as slippage. In simple terms, slippage refers to the market’s moving between the order’s playing time and the fulfillment time.

Please always check the deviation for the quoted price, “off quotes” MT4 error.

Slippage example:

A broker quotes EURUSD as follows:

Bid 1.3000

Ask 1.3001

Upon receiving the quote above in his terminal, the trader enters the order to purchase at 1.3001. Then the order is sent to a broker across a network. When the broker receives the order, he must check whether the client’s latest order can be covered with sufficient funds. This essentially means inspecting any free margins of the client after determining all other open positions. There is a delay created from the transfer of communication to the transfer of data. The live price can change from when the broker receives the original quote to when he can fill the order. If our trade is executed at 1.3002, we have one pip slippage. The difference between the fill and the quoted price is called slippage.

Dealing with slippage

There are ways present to deal with slippage. When individuals enter an order for market execution, they commit to buying/selling at the market’s current level. This means that their order will get fulfilled regardless of the slippage amount that can take place. Sometimes, brokers can allow to set up a limit for slippage when an order is placed. This is called the maximum deviation or point limit from the quoted price. However, a problem arises when many orders are not executed because they will be outside the limit for slippage. Brokers can also send re-quotes where they send the new price of the market when it has moved. Traders can choose whether they want to go forward with the new price.


What does deviation mean in Metatrader?


Deviation in Metatrader represents market volatility measurement, how widely price values are dispersed from the mean or average. In Metatrader, the deviation is calculated using a standard deviation with a default period of 20, and if the indicator is high, the market is volatile.

As we can see on the chart below, the standard deviation on the MetaTrader chart can explain the market activity. If the market activity grows, the standard deviation line will grow too, and the market will be active. Contrary, when the standard deviation line decrease, market activity decreases too. During Asian sessions, we usually see a flat EURUSD standard deviation because the market has moderate or low activity.

standard deviation meaning on MT4 chart

What does deviation mean in MT4?

In MT4, the deviation is presented as price volatility measurement using MT4 Standard deviation indicator. This indicator is an oscillator that measures how much price is dispersed from the mean or average. The zero value presents no volatility.

Please standard deviation indicator forex MT4

Below is a presented MT4 chart. If you want to add a standard deviation indicator to the chart, you need to go to” Indicators,” then “Trend,” and finally choose “Standard Deviation.”

standard deviation indicator in mt4

What is a deviation in MT5?

In MT5, the deviation is presented as price volatility measurement  MT5 Standard deviation indicator that measures the size of recent price moves of an asset. The higher the value of the indicator, the wider the spread.

MT5 platforms are multi-assets trading platforms that cover noncentralized and centralized markets, including futures, stocks, and even trading instruments related to Forex, like Forex robots. MetaTrader is one trading software that traders use as their Forex platform. If a price slippage occurs in a trading platform, it may be called a DEVIATION IN METATRADER. Common types of MetaTrader platforms are MT4 and MT5. The trader may use options on the software to set the deviation in the slippage by themselves. These platforms incorporate tools and techniques used in the Forex and controls for setting parameters.

standard deviation on mt5 chart

As the same as MT4, deviation in MT5 can be presented, and during high volatility, we can see a few pips slippage, the difference between the expected price of a trade and the price at which the trade is executed. Even though many articles were written about the advantage of the MT5 platforms in low slippage, our experience didn’t see any difference when we compared MT4 and MT5 slippage.

Traders most commonly use MT5 due to the flexibility of financial instruments and the presence of Forex robots. Users of the MT5 platform can limit the maximum slippage amount in their accounts by setting and choosing the maximum deviation. The deviation limit for the total amount can also be arranged for pending orders, market orders, and orders executed by the signal providers present in the MQL5 community. When the trader sets the maximum deviation amount, their orders will not run when slippage exceeds the amount charged.


Deviation and brokers’ fraud

Slippage matters because the trader can end up receiving unfair prices of execution. The broker can make a profit with the trader’s money, which will also be risk-free. If the broker handles orders differently following the market moving in favor of the trader or against him, it can be called asymmetric slippage. This is an illegal practice and is termed fraud.

Checking for slippages should always be done on life, not on a demo account. The average of all slippages should be calculated over several orders for trade. If there are arbitrary movements, the number of negative and positive slippages should be the same. If the number of negatives increases, there is an excellent chance that something is incorrect. Although testing for slippage costs some money, it might be an investment for future higher-priced orders.

How to Calculate Lot Size in Forex? – Calculation Examples, Video & Lot Size Calculator

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For a foreign exchange (forex) trader, the trade size or position size decides the profit he makes more than the exit and entry points while day trading forex. Even if the trader has the best forex trading strategy, he takes too little risk or too much risk if the trade size is very small or huge. Traders should avoid taking too much risk since they will lose all their money. Some tips on how the trader should Determine Position Size are provided.

Lot size in forex trading

A lot in forex represents the measure of position size of each trade.  A micro-lot consists of 1000 units of currency, a mini-lot of 10.000 units, and a standard lot has 100,000 units. The forex trader’s risk can be divided into account risk and trade risk. All these factors are considered to determine the correct position size, irrespective of the market conditions, trading strategy, or setup.

Now let us define a standard lot.

What is the standard lot size in forex?

The standard forex size lot is 100,000 units of currency. Usually, brokers represent forex lot size with currency units. For example, five lots are 500 000 currency units.

In this video, we will see lot size forex trading example:


How to calculate lot size in forex?


You can calculate lot size in forex using our lot size calculator or manually using the mathematic formulas where inputs are account balance, risk percentage, and stop loss value. In the first step, the trader needs to define a risk percentage for trade and then define stop loss and a dollar per pip. In the last step, a trader must determine the currency pair’s lot size (number of units).

 

how to calculate lot size in forex

Step 1:  Calculate the risk limit for each trade

To calculate risk percentage for trade using account balance, traders can define risk in dollars per position trade.

Most traders consider specifying the dollar amount or percentage limit risked on each trade as the most crucial step in determining the forex position’s size. Lot size forex calculation is simply because professional and experienced traders will usually risk a maximum of 1% of their account in trade; usually, the amount is lower. While the other trading variables may change depending on the trade, most traders will keep the percentage they risk on the trade constantly, though the amount risked for the trade may be reduced if it exceeds the 1 percent limit.
Calculate risk percentage - forex lot size formula
(Max risk per trade position should be 1%-2%)

Step 2:  Calculate forex size position using  dollar per pip

To calculate forex size position based on dollars per pip, traders need to divide the risk per dollar by several pips.

A pip is an abbreviation for price interest point or the percentage in point, the lowest unit for which the currency price will change. When currency pairs are considered, the pip is 0.0001 or one-hundredth of a percent. However, if the currency pair includes the Japanese yen, the pip is one percentage point or 0.01. Some brokers show prices with an additional decimal place, and this fifth decimal place is called a pipette. In the case of the Japanese yen, the third place is the pipette. m The Pip risk for each trade is calculated as the difference between the point where the stop-loss order is placed and the entry point.

calculate dollar per pip. Forex lot size formula

A stop-loss will close a trade when it is losing a specified amount. Traders use this to ensure their loss does not exceed the account’s risk. The stop-loss level also depends on the pip risk for a specific trade. The volatility and strategy are some factors that determine pip risk. Though traders would like to ensure that their stop loss is as close to the entry point as possible, keeping it too close may end the trade before the expected forex rate movement occurs.


How to calculate stop loss in pips?

To calculate stop loss in pips and convert it into dollars, traders need in the first step to find the difference (absolute value) between the entry price level and stop-loss price level. In the next step, traders must multiply Pips at risk, Pip value, and position size to calculate risk in dollars. For example, if a trader buys EURUSD at 1.2 and the stop-loss level is 1.195, then the stop-loss value is 50 pips (1.2-1.195=0.005=50 pips). Then, 50 Pips at risk X $1 per Pip X 1 mini lot position size = 50 x 1 x 1= $50.

Pips at risk= 50 pips

Pip value= for EURUSD is $1 for 1 mini lot

Position size = 1 mini lot

Pips at risk X Pip value X position size = 50 x 1 x 1= $50


Step 3: Calculate forex lot size position

The second currency is called the quote currency, in a currency being traded. If the trading account is funded with the quote currency, the pip values for various lot sizes are fixed at 0.0001 of the lot size. Usually, the forex trading account is funded in US dollars. So if the quote currency is not the dollar, the pip value will be multiplied by the exchange rate for the quote currency against the US dollar.
forex lot size based on dollar per pip

What information do we need to make a forex position size calculator formula?

Let us repeat all steps once time more:

Account Currency: USD
Account Balance: $5000, for example
Risk Percentage: 1%, for example
Stop loss: 200 pips, for example
Currency: EURUSD

How to find a lot of size in trading? In the first step, we need to calculate risk in dollars, then calculate dollars per pip, and in the last step, calculate the number of units.

Step 1: Calculate risk in dollars.
Calculate Risk percentage from account balance: 1% for $5000 is : $5000/100=$50.
$50 is 1% of $5000.

Step 2: Calculate dollars per pip

(USD 50)/(200 pips) = USD 0.25/pip

Step 3: Calculate the number of units
USD 0.25 per pip * 10 000 = 2,500 units of EUR/USD

For five digits brokers, we use 10 000 as a multiplication. 2.5 micro lots or 0.25 mini lots is the final answer. Technically, it is two micro lots because most brokers do not allow trading less than micro-lots. In the end, here, you can use the Position Size Calculator. In MT4, calculate lot size using a lot size calculator. If you know your risk, you can calculate the lot size using the calculator below:

Lot size calculator

The lot size forex calculator is represented below. You can use to calculate forex lot position size:

You can define the risk using either % or risk in dollars.

Calculate Crude Oil Lot Size – How to Read Oil Pips?

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A recent article showed how oil trading works and how to calculate gold pips. But let us start from the beginning.

Crude Oil Profit Calculator – USOIL pip calculator

What is Crude Oil?

Crude oil represents a natural fossil,  unrefined petroleum product composed of hydrocarbon deposits and other organic materials. Crude oil can be refined to produce usable gasoline, diesel, and various other petrochemicals. The most famous types of crude oils are WTI Crude Oil and Brent Crude Oil.

The difference between Brent crude and WTI crude oil is that WTI originates from U.S. oil fields, and Brent Crude originates from oil fields in the North Sea. Usually, WTI is slightly “sweeter,” “lighter,” and lower in price than Brent.

WTI Crude Oil

WTI, or the West Texas Intermediate, is a grade or a mix of crude oil. Its spot and futures prices are used as a benchmark in oil pricing. Its grade is light crude oil due to its relatively low density. In addition, the presence of sulfur makes it the sweetest. Therefore, it refers to the New YorkMercentile Exchange WTI Crude Oil futures price. 

crude oil production

What is USOIL in forex?

USOIL in forex platforms such as Metatrader represents light sweet Crude Oil. Usually, the Metatrader USOIL symbol is WTI (West Texas Intermediate), USOIL, or Crude Oil.

 

There are various ways crude oil can be traded; our focus will be on retail forex trading platforms for this instrument. Let us see how to calculate oil in the WTI forex platform Metatrader.

WTI Crude Oil Price – USOIL Price Today

Lot Size of Crude Oil – oil pips in MetaTrader

The minor price change for Crude Oil is 0.01 or 1 pip. So when the price rises from 40.00 to 40.01, it is 1 pip.

If we trade oil on the Metatrader platform, 1 micro lot trading size for 1 pip target is $0.01. If we buy 1 micro lot from 40.00 to 40.01, it is $0.01 or 1 pip. If we buy 1 mini lot from 40.00 to 40.01, it is $0.1 or 1 pip. If we buy 1 lot from 40.00 to 40.01, it is $1 or 1 pip. When traders calculate oil pips than  1 lot oil trading size, 1 pip move equals $1.00.

Many brokers give you 1:500 leverage on this instrument. 1:500 leverage means you can operate a capital of $500 in the market for every dollar you invest. This is what you need to open a 10-barrel position.

Other than the capital required to open a position, it would help if you had marginal capital to support any floating losses. You will lose 5 pips as soon as you open a position as it is its spread. 

The leverage offered by brokers is not always this high. Some brokers offer leverage as low as 1:40. You will need more significant capital to open a position and support floating losses in such cases. 

Pip Value of Crude Oil

A pip denotes the slightest change in the price of an instrument. It helps identify how a tool in the market has witnessed much fluctuation. For example, by most trading platforms, a crude oil pip is considered $0.01. Remember that 1 lot oil trading size, crude oil 1 lot price, and 1 pip move are equivalent to $1.00.

 

How to Calculate Profit and Loss using Oil Pips in the Metatrader platform

Using the information that 1 lot oil trading size for 1 pip move is equivalent to $1.00, traders can easily calculate oil forex trading size position in Metatrader. This principle will help traders learn how to trade crude oil on the forex MetaTrader platform.

The trader bought 1 lot at 40.55 and closed the trade at 40.90. In this example, the trader generated 45 pips profit. Because the trader had a position size 1 lot, his gain was $45.

Buy 1 lot, gain 45 pips, profit $45.

Buy 10 lots, gain 45 pips, profit $450.

 

How to Calculate Profit and Loss when we have barrel contract

Let’s calculate oil pips for barrel contracts for the smallest position.

In a 10-barrel contract, the oil pip value would be $0.01*10 barrels = $0.10.

This oil pip value is stationary as the U.S. dollar is the quote or counter currency in the crude oil and U.S. dollar pair.

Let’s understand how profits and losses are calculated using crude oil signals by referring to this example:

Let’s assume that you buy 200 barrels of crude oil at $50 each, and your profit is $55 each.

The easiest way to find out your profit is by using a simple arithmetic equation:

(Profit gained at one barrel – the cost of one barrel) * Number of barrels bought = Total Profit

($55 – $50)*200 = $1000

You can also calculate the total profit and loss using the pip value of $0.10. You can multiply the number of pips by $0.10, which is then multiplied by the lot. The result will again be $1000.

Crude Oil and Related Instruments

The oil price is a crucial fundamental factor that can manipulate the value of a currency, especially if the country is a significant exporter or producer of oil and oil products. For example, Canada exports a considerable part of its petroleum products to the U.S. the Canadian dollar (CAD) enjoys a stronger position when the traded oil prices are higher. However, a drop in oil trade volume or an increase in the instrument’s prices will negatively reflect its currency and subsequent currency pairs like USD/CAD. Other currencies correlated to the trading oil prices are the Danish Krone (DKK) and the Norwegian Krone (NOK).

How to analyze Oil prices outside MT4?

If you need to analyze Oil prices, calculate pips, predict trends, and test Oil trading strategies, you can use the Machine Learning platform TrendSpider.

trends analyzer

 

What Affects Oil Price?

Like any commodity, the oil price also fluctuates. The rate of consumption and production are two events that affect it. For example, a declaration by the United States stating that a considerable amount of energy has been drawn from their reserves proves that there has been an increase in oil consumption. Since the demand has certainly increased, the prices will likely increase. This can be avoided only if the subsequent supply also increases. 

The oil prices will drop if the demand declines or the supply overpowers it. 

OPEC’s news also has a significant impact on the price of oil. The prices can spike rapidly if the Petroleum Exporting Countries (OPEC) Organization decides to reduce production. Investors will buy oil in considerable numbers to profit from it, leading to a further decrease in its supply.

War in the oil-producing country, delay in oil shipments for reasons like bad weather, damage to oil pipelines, a change in USD and other currencies, and technology are a few more factors that affect the oil price. However, the list is not limited to these factors.

Is Forex an MLM?

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Forex MLM (Multi-Level Marketing) is an example of a pyramid scheme marketing firm that promotes services and goods by trading foreign currency. This business concept made Ponzi scams and similar “money-making” systems famous.

MLM’s business model represents a strategy that sells products and services through a non-salaried workforce in a pyramid-shaped commission!

However, is the whole forex industry MLM?

Is Forex an MLM?

No, forex trading is not MLM (Multi-Level Marketing) because a foreign exchange business is a legitimate trading business like stocks trading or options trading. However, some minority individuals or companies use MLM to promote forex, which can negatively impact the whole industry.

MLM pyramid scheme in forex

With forex MLMs, most people’s income comes from recruiting new members rather than trading the strategies they demonstrate. You’ll be led to believe many nonsense things, and you will leave the group deliberating why you wasted your time because you failed in trading the forex market.

Here’s a story about how specific Instagram traders spread misinformation to trading newbies. Some unscrupulous persons need to yield improvement of amateurs for financial gain. They do this because the actual profit lies in convincing your associates to deal with them.

Affiliate marketing is one of the methods used by Forex MLM firms to recruit original brokers and generate commissions. Nonetheless, they won’t get into the specifics of such businesses here. They want to explain why Forex MLMs are risky and by what method you can avoid them.

 

Forex is NOT a multi-level marketing scheme. The foreign exchange market (FX) is the world’s largest single market for exchanging assets. Trading foreign exchange may be solitary because it can succeed without communicating with another human being.

You don’t need to convince everybody you know, even your dog, cat, and relatives, to join you in forex trading. There is no need to contact potential customers or send out promotional materials.

bitcoin scam - crypto pyramidal scheme

There is NO specialized gear, software, or instrument required. One needs no technical credentials to participate. There is no specialized jargon, code, or technique that you must master. There is no requirement for any formal education or guidance.

Attending a forex meeting or taking a forex course won’t cost you a dime. You are under no obligation to make a sale to anybody. Most effective foreign exchange traders learned their craft the hard way, via several failed attempts at making trades over the Internet.

They were wondering if any online schools taught foreign exchange trading. You can find some great FX online courses. However, the vast majority of them have merely reworked forms of existing materials, such as Babypips, which are readily available elsewhere for no cost at all. Research your options; many no-cost forex classes are accessible on the web and on video-sharing sites like YouTube.

A Breakdown of the Mechanisms at Play in Forex Multi-Level-Marketing Schemes

This is how most multi-level-marketing FX schemes operate:

  • They’ve remained to do it for a long time, they say, and they’re in it for the long haul.
  • They’ll pitch you on joining their multi-level marketing company.
  • They promise they’ll show you how to deal with forex if you purchase their system.
  • Once you know necessary to trade their goods and amenities, you may begin doing so.
  • You’ll be required to bring new members to the company.
  •  No matter how many new members you bring in, you’ll have to pay them to join.
  • You will earn a commission on your team’s sales as a recruiter.

Following the abovementioned procedures does not guarantee financial success because participation necessitates reciprocal contributions from inside the organization.

Do you understand why supporting such educational organizations is a poor idea?

In addition, you will waste a lot of change on resources that might or might not help you succeed, such as guides, manuals, courses, videos, seminars, coaches, and gurus. Now, understand them. Some of them are exceptionally bright and have plenty to teach you. Still, there are plenty of liars in the world.

The only way to profit from foreign exchange is to trade foreign exchange; investing in the enterprises of others is a surefire recipe for financial disaster. The easiest method is to study under a seasoned professional or consult online resources. Traders may find a wealth of helpful resources in the form of published books.

Most of them don’t cost too much money and provide instructions on dealing with tested methods. If you’re looking for some good reads about forex trading, here are some of the top titles currently available on Amazon.

By now, they hope you understand that they are talking about the training firm itself, and you may steer clear of them. Anyone ready to study and work may succeed in trading in the foreign exchange market. The foreign exchange market has been tarnished by overzealous advertising that portrays it as a quick way to make money. That is certainly not the case.

Many multi-level marketing firms cater to the Forex market. Many of these were, alas, the typical pyramid scheme. So, let’s look at several firms that fit that description.

MLM guru Christopher Terry

Christopher Terry attempted to go out in multi-level marketing firms like Amway. However, he achieved lasting notoriety for his work on a financially successful multi-level marketing venture. Terry was the driving force behind the financial services firm iMarketsLive.

Both as a trader and a shared firm, they promised their customers a monthly return of 10-25 percent. Users actively marketed the brand. They received their commissions and shared affiliate links with their friends and coworkers.

iMarketsLive was created as a direct response to the events surrounding FXCM. Terry took advantage of the broker’s decision to shut down trader accounts in 2016. He started advertising iMarketsLive by collaborating with its users to disseminate info about blocking. A significant number of new clients joined iMarketsLive as a result.

Government officials, however, were not convinced by Christopher Terry’s candor. Finance authorities in Belgium swiftly halted all of its operations. France and Spain have expressed concern that the business “has aspects of a pyramid system.” Investors in iMarketsLive asked the FTC to make Terry’s business pay 85 million dollars in compensations in 2018.

Investments in Venture Capital, LLC

One of the most recent uncovered pyramid schemes involves Investments in Venture Capital LLC. The company was set up in the tax haven of the Grenadines and Saint Vincent. To its clients, Venture Capital Investments LLC seemed to be a legitimate investment firm, promoting Forex investments to earn passive income.

The organization’s reach extended outside the United States to places including Bulgaria, the United Kingdom, and New Zealand. This business’s MLM strategy was primarily a marketing ploy, not an investment vehicle for customer monies. Instead, customers at the bottom of the pyramid were used to pay for the business at the top. A total of $450,000 was stolen from 78 victims by Investments in Venture Capital LLC.

On November 5, 2020, Investments in Venture Capital LLC will pay a $900,000 punishment imposed by the CFTC. After taking clients’ money, the scammers splurged on various high-end items and automobiles, according to the inquiry. As such, the CFTC warned anyone who had invested in the pyramid scheme that the swindlers might be unable to pay their obligations or the fine.

Money Market Comparative Information System (Forex MMCIS)

The Forex MMCIS pyramid scheme was very successful on the east side of Europe. Saint Vincent and the Grenadines government had not authorized the company’s incorporation. The annualized return on PAMM accounts was advertised as high as 200%.

The MLM approach was implemented with great vigor by the organization. Furthermore, a multi-tiered affiliate scheme was in operation. The Forex MMCIS Group engaged in targeted marketing strategies, including cold phoning potential customers and networking extensively through social media and other channels. The portal furthermore included a novel MLM advertising strategy. Every broker who had a tattoo of the company’s name and logo in 2013-2014 received a $1,000 bonus.

In Nov 2014, the Forex MMCIS pyramid scheme finally imploded. Damages caused by the platform were estimated to cost anything from 150-350 million dollars. Since 2022, the pyramid hasn’t started working again, and the website’s domain now points to a specific German business.

770capital MLM Scam

770 Capital is marketing itself as a Forex broker and investment firm. The broker heavily used multi-level marketing, providing special deals to dealers who brought in new customers. Affiliates might earn equal to 15 percent of first-level deposits their partners make through the enticing scheme offered by 770 Capital Company.

The company’s management employed “cold calling” and social media connections to drum up business. Unfortunately, 770 Capital was just like any other pyramid scheme. The issue of users not paying and then complaining about it arose.

Customers complained that the business consistently utilized illegitimate reasons to prevent them from withdrawing funds, such as a need to restock the account or purchase withdrawal insurance. Reviews from 770 Capital’s traders reveal that some have felt threatened by the company’s management.

770 Capital was a “bucket shop” that swindled naive clients. Then they pressured him and wanted “insurance” money. They were secure. He had lost money on 770 Capital. 2022 will see the 770 Capital pyramid’s demise. The broker’s website is inaccessible.

Traders Union reviews might help you avoid dishonest agents and stock businesses. You may check their rating if a broker contacts you about working together. They are curious about what you think the most prominent multi-level marketing dangers are when selling foreign exchange.

A high degree of danger is involved in working with Forex MLM organizations. Regrettably, many dishonest agents and stock firms exist. Consequently, take caution. If you’re considering working with a Forex Multi-level marketing organization, you should contact Traders Union first. It’s essential to keep in mind the following criteria while you check:

  • License

Legitimate financial institutions must hold valid licenses issued by authoritative governing bodies. It may be subject to rules enacted by the Securities and Exchange Commission (SEC) of the United States, the Financial Conduct Authority (FCA) of the United Kingdom, the Bundesanstalt für Finanzdienstleistungen (BaFin) of Germany, the Australian Securities and Investments Commission (ASIC) of Australia, etc.

  • Reviews.

You may learn a lot from the evaluations, including whether or not expenditures have been consistent, whether there have been any limits placed on the investing platform, if any customer accounts have been closed, etc. Reviews are only meaningful if they come from unbiased sources. Traders Union, for instance, is a great place to read trustworthy assessments of various brokers and trading platforms.

  • Advertising that is too forceful.

Clients are contacted via phone calls, emails, social media messages, and other channels by fraudulent enterprises trying to encourage them to participate in the platform. Legitimate MLM businesses place heavy emphasis on affiliate marketing.

  • Profit margins are absurdly high.

Unrealistic claims of high returns are one of the tricks used. Some Forex MMCIS, for instance, advertised annualized returns of 200 percent. Before engaging with an investing platform or broker, ensure the income plan is clear, and the charges are reasonable.

  • No danger signals.

No risk-free investment exists, and no administrator or dealing automaton can guarantee one. Yes, even Warren Buffett has experienced trading failure. As a result, the intermediary or investing platform should inform customers of the dangers they face. You are probably dealing with crooks if the firm assures payments.

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