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Getco Pro Review – is getcopro.com scam or good forex broker?
RECOMMENDED FOREX BROKERS
Trading Accounts and Conditions
|Trading account||Minimum deposit||Maximum leverage||Spread|
|Mini||$100||1:500||from 3 pips|
|Islamic||$500||1:500||from 5 pips|
|Micro||$1 000||1:500||from 2.5 pips|
|Pro||$5 000||1:500||from 1.5 pips|
Getco Pro is a UK-based forex and binary options broker that is quite shady. In this review, we will analyze its forex offering and regulation status.
The broker offers the above account types plus Corporate, Managed and PAMM ones on its web-based platform.
Getco Pro Advantages
High leverage levels
In our opinion. the only good thing about Getco Pro is probably that it offers high leverage levels, reaching 1:500. The use of leverage ratios that high allows traders to open large positions by investing small sums. However, leverage has its dark side – the higher the level used, the greater the risk of serious loss.
Getco Pro Disadvantages
Chaotic company information
On the one hand, Getco Pro’s registered address is in London, UK. On the other, it is allegedly owned and operated by an Austrian Investment firm, which is licensed and regulated by the Dutch Authority for Financial markets (AMF). Furthermore, this chaotic information is full of spelling mistakes.
Not licensed, regulatory warning against it
Actually, the company behind the broker is Getco Pro Ltd., which is registered in the UK, but not licensed by the Financial Conduct Authority (FCA). As regards the other company, Andreas F Bauer, it has nothing to do with Getco Pro. Furthermore, the Austrian Financial Market Authority has issued an official investment warning against Getco Pro. More specifically, the FMA said that this entity “is not entitled to carry out banking transactions in Austria that require a licence. The provider is therefore not permitted to trade in financial futures contracts (futures) on its own account or on the account of others, including equivalent instruments settled in cash as well as call and put options”.
Unproven web platform, MT4 unavailable
As we mentioned already, Getco Pro offers its services on some web-based platform, which we tested and aren’t impressed. It is very slow, and also the charts are powered by TradingView, we could not find any technical analysis indicators.
Besides, it appears that many of the instruments actually cannot be traded:
Most of you will surely prefer the MetaTrader 4 (MT4), which is still the most popular software for forex trading. This platform is easy of use, reliable customizable, and has great tools and perks: automated trading strategies (EAs), the MQL market place, advanced tools to analyze price dynamics, and more.
Announced spreads too high
According to the information on its website, the spreads on the most basic account type of Getco Pro start from 3 pips on majors, while most brokers offer spreads in the range of 1.0 – 1.5 pips on EUR/USD.
There are too many negative things we found about forex and binary options broker Getco Pro. Despite its fake claims of financial regulation, the actual company behind the brand is not licensed by any governmental agency. On top of that, the Austrian FMA has blacklisted this broker, which is another very worrisome sign.
When trading with an unregulated company, you are taking serious counterparty risk, as well as the even greater risk of being scammed out of your money. That is why we generally advise our readers to only deal with brokerages licensed by reputable financial agencies, such as UK’s FCA or Australia’s ASIC.
Here is our summary on Getco Pro:
|Up to 1:500 in leverage||Chaotic company information|
|Not licensed, regulatory warning against it|
|Unproven web platform, MT4 not supported|
FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
Trading212 is a European broker with an excellent proprietary trading platform, which is now available as an iPhone app as well (we tried it out and we loved it). Trading 212’s customers enjoy fast execution a vast selection of trading instruments.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.
iMarketsLive MLM Review (2020): Scam, Wolf, or King of Wall Street?
Table of Contents
It’s All About The Benjamins
So you wanna get rich from Forex trading, huh?
I know the feeling.
But you might wanna think twice about joining iMarketsLive.
Like it or not, most MLMs like iMarketsLive are dressed up sales jobs.
Whether it’s selling “the dream” to your friends and family to convince ’em to sign up for your new Forex trading program…
Or just buying and selling currencies in the Forex market yourself.
Either way, you better enjoy hustlin’ and grindin’ if you’re gonna make it in this game.
Let me break it down for you:
iMarketsLive – short for International Markets Live – is a unique multi-level marketing company that’s all about Forex trading.
That’s short for foreign exchange trading, also known as currency trading.
It’s just like the stock market but instead of buying and selling shares of companies, you buy and sell currencies like the U.S. and Canadian dollar.
And unlike a regular 9-to-5 job, skilled currency traders can make (or lose) serious bank.
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In fact, the Forex market is the largest financial market on the planet — doing 5 TRILLION (with a “t”) a day in trade volume.
That’s over 200 times larger than the New York Stock Exchange!
Now you can see why there’s an absolute sh*tload of Benjamins to be made in Forex.
And iMarketsLive is doing exactly that:
By 2020, they were pulling in over $6 million per month.
They’ve also experienced a tremendous amount of growth and momentum in 2020 and 2020.
But there’s a fair amount of controversy surrounding this network marketing phenom.
If you’ve noticed that too, you’re probably interested in a lil’ more info about ’em, right?
You’ve come to the right place, brotato chip.
iMarketsLive Company Overview
First things first:
iMarketsLive is a Forex trading MLM that offers various trading educational products and services to a global audience.
They currently appear in over 120 countries and have training available in 8 major languages.
As you’d expect, their headquarters is located in the center of the financial universe:
New York City, New York.
They also have a staff of over 60 educators who have a single job: Teach peeps like you and me about the joys of Forex and cryptocurrency trading.
Oh, did I not mention they do cryptocurrency markets like Bitcoin as well?
The company’s vision, according to their website, is to “Educate, Enrich, and Empower One Million Students by 2020.”
Admittedly, also according to their website:
To be fair, that could be said about any investment opportunity (e.g. financial services from Primerica, binary options, etc), but Forex trading is notoriously difficult — I know from personal experience.
Risks aside for now, let’s talk about how iMarketsLive came into being in the first place.
When Was iMarketsLive Founded?
What’s the real story behind iMarketsLive?
Well, for starters:
International Markets Live, Inc. was founded back in 2020 by CEO Christopher Terry.
But you know what’s weird?
iMarketsLive’s corporate website is surprisingly thin when it comes to offering information.
Most companies, even most MLM companies, have at least a little history of the company along with a small biography of the founder/CEO.
iMarketsLive.com has no such information on their site and seems to prefer to remain as mysterious as possible.
But I did manage to find this page, which appears to be an older bio of the company’s founder Chris Terry.
Here’s an excerpt:
In just 3 years, he was confident enough to walk away from his Construction Business, which had generated sales in excess of $40 million that same year, in order to become a full time trader.
Over the years he applied and effectively utilized this winning strategy of gaining the necessary learning and experience through the proper Mentors and then imitating the strategies of successful people.
While doing so he realized the same process of following success step by step, could bring average people everywhere to the same level of success that he himself had achieved.
Mr. Terry began to realize that at this point in his life it was his calling to help change people’s lives on a massive Global scale through a marriage of Network Marketing with Professional Trading.
This is why, in August 2020, Mr. Terry made the decision it was time to act on this Philosophy, and International Markets Live, Inc. was born.
One thing that’s missing from that bio of Chris Terry is his long history with MLMs and network marketing.
Terry came up in Amway, and although by his own admission he didn’t actually make any money, he said it gave him a “mindset of wealth”.
In other words, he probably realized the folks who made the most money in an MLM were the ones at the top and who recruited the largest downlines.
This also might explain why Chris Terry was reportedly a big promoter of Zeek Rewards*, which got busted by the SEC in 2020 for being a ponzi scheme.
(*In this interview with Denise Martino, Terry refers to Denise as his “downline member” and she clearly appears to be in Zeek at the time.)
Despite these failed business attempts, Chris Terry persisted and while the idea of iMarketsLive was spawned in 2020, it officially launched in 2020.
The new Forex trading MLM grew quickly and by 2020, iMarketsLive reached 55,000 members.
Unfortunately, that same year brokers began locking the accounts of many iMarketsLive customers for using an unregulated “expert advisor”.
Here’s what happened:
iMarketsLive had a special little automated trading program called “FX Signals Live”.
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The program automatically mirrored the trades of Chris Terry himself, so members could essentially play the Forex market without actually understanding it.
However, one of the main reasons there are regulations in the investment world is to prevent exactly that.
And when legitimate brokers like FXCM decided they wouldn’t allow it anymore, FX Signals Live was discontinued in 2020.
As a replacement, iMarketsLive released their new online “Harmonic Scanner” designed to help follow market trends.
It’s a little technical but here’s a basic video that explains what it does:
It’s basically an online tool that scans the market in real-time and gives you alerts for different price patterns and trading opportunities.
But now you actually have to know what’s going on and make the trades yourself.
What Are iMarketsLive Products?
iMarketsLive sells you on the ability to become a successful currency trader.
Sure, you could try to learn it all by yourself.
After all, how hard could it be to click a few buttons and place a few trades?
Buy low, sell high.
Easy peasy, right?
Well, despite what you may have heard, day trading is MUCH harder than it sounds.
That’s why iMarketsLive offers a full suite of support and trading education.
Over 100 training videos and modules offer basic and advanced strategies on both Forex trading and cryptocurrency investing.
You can also access live trading rooms and watch experienced staff members place trades and talk about the secrets of their success (in 8 different languages).
Here’s a good overview video that explains the iMarketsLive opportunity:
Obviously that’s a company sponsored video, so take it with a grain of salt (don’t drink the Kool-Aid).
But I will say that iMarketsLive seems to provide a ton of help for their members, which is always a big plus.
Even CEO Chris Terry himself gets in on the action, holding Sunday night webinars that you can sit in on.
Additionally, iMarketsLive gives you access to their proprietary financial trading software.
As mentioned earlier, their Harmonic Scanner searches the market for harmonic patterns to exploit and profit from.
Their Web Analyzer does the same with cryptocurrency, for an additional fee.
And even though their trade-mirroring service is gone, iMarketsLive still provides other ways for you to copy what their experts are doing.
Swipe Trades will alert you to “Forex trade ideas” including risk management and expert guidance for an extra $17 per month.
Swipe Coin does the same but for Crypto trade ideas and info, for an extra $100 per month fee.
While that may seem pricey, keep in mind that it allows you to get solid trade ideas sent right to your phone without having to do any of the legwork.
Because let’s be honest: If you knew what you were doing when it comes to trading, you wouldn’t be paying this company $165 a month or more for the privilege.
Long story short: The more you pay iMarketsLive, the more training and tools you get.
Speaking of which, here are your membership options if you wanna join:
iMarketsLive Membership Options
*Mobile users: scroll left/right on table if last column is not fully visible
Hey, nobody said day trading was cheap.
To be fair, iMarketsLive does offer a 7 day, 100% money back guarantee to all of its subscribers.
If you’re dissatisfied with their service in any way, you can get a full refund of your membership fee within a week of signing up.
iMarketsLive gives their Customers a “2 & FREE” option as well — if you personally refer 2 people into buying a monthly membership, your membership is free.
So: If you can convince a couple people that Forex trading is awesome…
You don’t have to pay anything to get the iMarketsLive training and support.
Sounds good, but here’s something you should know from a guy who’s been in the trenches:
My Forex Trading Experience
The risk factor in Forex trading is something we shouldn’t just gloss over.
As mentioned in iMarketsLive’s disclaimer, you can easily lose all your invested money in addition to the monthly fees.
I should know — years ago, I was heavily into Forex trading and learned everything I could about it.
Technical analysis, risk management, chart indicators — you name it, I tried it.
And that’s not all:
I kept daily trading journals, learned how to read candlesticks, recognize trends, and was a particular fan of using 2ATR for a trailing stop loss.
Along the way, I traded almost every currency pair, chart timeframe, and read every trading strategy book I could find.
(Here’s my personal favorite, along with this one originally published in 1930.)
I should also mention that I paid a small fortune for different trading systems, tools, and “secret” strategies from so-called experts.
I’m FAR from the smartest guy in the room — but I’m not a complete Muppet either.
I wasn’t just gambling (only risked 2-3% max per trade) and I gave Forex trading everything I had for almost 3 years straight while I was still driving truck.
And even though I had periods of profitability, in the end I always lost money.
Not to mention I also got sick of the highs and lows of trading — feeling like a God one week, damn near suicidal the next.
Out of desperation, I finally resorted to following a mirror-trading service which ultimately blew up and reduced my trading account to almost nothing.
It was my own dumbass fault, but that’s when I decided to hang up my Forex trading gloves and look for something else.
Also contributing to that decision was realizing that after being on countless online trading forums — I wasn’t alone in my frustration and misery.
The only ones who seemed to be making any consistent money in Forex (besides the banks and hedge funds), were the guys selling me the tools and systems.
Just like during the gold rush back in the 1800’s, the real money wasn’t in digging for gold — it was selling the pickaxes and shovels to the desperate and hopeful.
Now obviously, there ARE successful Forex traders out there.
So just because this ex-truck driver with a GED couldn’t do it, doesn’t mean that you can’t make it work.
Like any other form of retail trading, some folks make money and some folks lose money.
All I’m saying is that Forex trading is hard as hell.
As a general rule, if you enter a gambling game against a lotta peeps who are more experienced and skilled than you are…
It’s a safe bet that the odds aren’t in your favor.
Don’t say I didn’t warn ya.
Pros: Why Join iMarketsLive?
✓ Potential for serious income without recruitment.
Almost every MLM in existence requires you to recruit and grow a huge downline if you wanna make the big money.
The reason is simple:
Your time is limited and there’s only so many hours in a week that you can use to sell products to people you know.
Forex trading is different in the sense that you could gain (or lose) a lot of money all by yourself, without ever having to recruit anyone.
✓ No pants required.
While most MLMs involve you dragging around a box of products to various houses, iMarketsLive is something you do from your desk or smartphone.
This is a very modern MLM and the entire thing (training + products + support) is all available online.
Never having to leave your house to run your business is a definite advantage.
For example, go try selling Amway products with no pants — I’m guessing it wouldn’t turn out so well.
✓ Plenty of training materials.
Between all the videos, training modules, tutorials, and live help sessions, iMarketsLive probably offers more actual product support than most other MLMs.
If you’re willing to invest in your education and want a crash course in Forex trading, there’s a vast bucket of knowledge here waiting for you.
Cons: Is iMarketsLive a Scam?
✗ First off: Solid trading advice don’t come cheap.
Around $200 up front plus $170 a month is what it’s gonna cost you for the most basic level of membership.
That’s over $2000 per year.
But if that trading advice makes you ten times that, it might be worth it.
✗ You could lose a lot more than your monthly fees.
Yes, plenty of people lose money in MLMs (most do).
But they generally lose money from not being able to recoup their minimum purchase requirements and monthly fees.
With iMarketsLive, in addition to your membership fees, you’ll also have to risk your own trading capital to play the currency markets.
And you might lose all of that money too.
In fact, thanks to the way that leveraged trades work, you can actually lose even MORE than the full amount of your Forex trading account.
✗ A strong fishy odor.
Can you trust iMarketsLive?
Well, sometimes the best way to predict the future is to look at the past (or just Google the present):
• iMarketsLive CEO Chris Terry has a previous connection with Zeek Rewards which the SEC had to shut down for fraud in 2020.
• The VP Alex Morton has a long history with MLM companies like Vemma Nutrition that had to settle for hundreds of millions of dollars with the FTC for being a pyramid scheme. You should check out this revealing article on Morton that shows the reality of being a professional MLMer when he was with his last company.
• iMarketsLive is banned as unauthorized in Belgium, and also received warnings from other countries like France.
• When I first published this article, iMarketsLive had an F rating (very bad) from the Better Business Bureau due to having so many complaints.
Then all of sudden they had an BBB rating of “A”, mostly thanks to a bunch of positive reviews that showed up around the same time (many on the same day).
Coincidence? Yeah, right.
As another reviewer pointed out, prob’ly because IML asked their members to spam their BBB page with positive reviews to drown out the negative ones.
Nice try fellas. Not shady at all.
Also can’t forget that iMarketsLive is an MLM which means recruiting other members is highly encouraged.
Here’s one of IML’s top earners explaining in detail how it’s done:
Ask yourself: If it was just about forex trading, why teach people how to recruit at all? Why not just trade forex and make a ton of money?
I dunno… maybe cuz:
Most retail traders lose money in the long run, so the real money is made by getting other people to join.
Is it really, though?
Not exactly what I’d call a high-probability trade.
But if that doesn’t make you puke in your mouth a lil’, this industry might be for you.
If, however, you’re looking for a more legit and reputable business model… my two cents?
Forex King — обзор отзывы партизан forexking.biz
Начались выборочные выплаты, НЕ ВКЛАДЫВАТЬ! Проект отлично отработал, около 7 полных кругов! Не заработал только ленивый. 3.05.2020
Еще раз приветствую вас, друзья!
В этой статье я проведу обзор и выскажу отзывы о только что переодетом партизане Forex King ( официальный сайт ), который тихо работал с 11 сентября с неприметным дизайном и одним тарифом на 90 дней под 2,3% в сутки, но буквально вчера дизайн поменялся, изменились все тарифные планы и проект приобрел новый облик. Отличительная черта проекта — здесь есть как отличные тарифные планы 2,1-2,7% в сутки сроком от 15 дней, где мы выходим очень быстро в профит, до таких тарифов, как 350% после 17 дней. В целом, если оценивать по всем признакам, это один из наиболее перспективных фаст-хайпов среди имеющихся на текущий момент.
Более детально знакомимся с полным описанием проекта Forex King, нажимая «Читать далее».
По информации на сайте проекта, Forex King — это зарегистрированная компания в Великобритании ( сертификат о регистрации ), представители которой торгуют на Forex и извлекают прибыль со сделок на биржах криптовалют. Высокая прибыль и выверенные стратегии работы позволяют им достигать высоких результатов. Но на легенде не будем заострять внимание, а поговорим в первую очередь об инвестиционных предложениях и стратегии работы проекта.
Здесь нам предлагают инвестировать средства как в тарифные планы с выплатой ежедневной прибыли и возвратом вклада в конце срока, так и высокодоходные тарифные планы с возвратом и прибыли, и вклада в конце срока. Давайте глянем детальнее:
Эти тарифы из разряда нереальных, но многие зарубежные инвесторы входят в такие и порой получают свои прибыли, вдобавок, здесь не такие уж большие сроки по вкладам, поэтому вполне можно пробовать. В этих планах, безусловно, из общего процента нужно отнять 100%, чтобы понять реальную прибыль за срок, то есть если указано 350% после 17 дней, то это 250% чистыми от вашего вклада — прибыль через 17 дней, и плюс возврат вашего вклада.
Основные преимущества и недостатки:
Ввод и вывод средств:
Минимальный вклад — 10$.
Для удобства покупки/продажи электронной валюты есть множество обменников.
Выплаты: — ручные, регламент до 30 часов.
Отзыв о проекте Forex King:
Вы знаете, так получилось, что я увидел этого партизана еще со старым дизайном по совету одного из товарищей…смотрел, изучал, присматривался к этому неприметному дизайну и думал, действительно ли это хайп-партизан, хотя все признаки указывали на это — домен на 5 лет, скрипт GoldCoders, защита от Koddos, то есть стандартный хороший набор зарубежных администраторов. В итоге почему-то сдрейфил и решил чуть подождать. В итоге на следующий же день партизан «переоделся» и загорелся новыми красками, показал уже совсем другие тарифные планы, отличный дизайн, невысокие планки по партнерке, поэтому однозначно я в игре, как говорится.
В таких проектах нужно учитывать, что они в большинстве недолгосрочны, поэтому рекомендую работать по принципу hit and run, хотя здесь у каждого может быть своя тактика. Порой такие проекты могут работать и по 5 кругов без всяких проблем благодаря отличному притоку. Этот проект еще до переодевания уже имел в кассе существенные суммы вкладов, а сейчас — так тем более должен показать себя во всей красе.
Еще один вклад на 500$ 25 марта:
После регистрации обращайтесь в скайп andrew_investor и я вас добавлю как партнера в свой чат и официальный скайп-чат компании.
Также можно оценить статус компании на мониторе Allhyipmon.ru ( посмотреть ).
Любые вопросы можете задавать в Skype andrew_investor или пишите на e-mail: [email protected] . И не забывайте подписываться на мои группы:
Можете оставлять свое мнение под этой статьей или скриншоты выплат, я буду благодарен.
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