sixcapital?

[superman2006]

Sorry...to bump up this old thread......but seem like recently they have this new title...position "Trainee FX Dealer (fully sponsored)"


This time rounds is fully sponsored. Anyone have apply this "Trainee FX Dealer (fully sponsored)"



Is really sponsored meh??? Sound too good to be true.

 

[Dividends Warrior]

This thread is........

 

[alexchia01]

I read their website and their credential.

These people are FX Dealers, not FX Traders.

Why you want to learn trading from a dealer? It's like learning driving from a car salesman.

Dealers make money by spread, not trading.

They want you to trade as much as possible because the more you trade the more they made. They don't care if you make money or not.

Even if they care, you think they can trade?

Just because they handle more currencies than you, does not make them a good FX trader and can teach how to trade currencies.

Just because a car salesman handle more cars than you, does not make him a good driver and can teach you how to drive.

 

[hoskos]

I can confirm what you said is true as I have attended it before.

However, I have to be objective because I did learned some things.

The live trading session is really useful as this is application in real life an not theory based. I mean we can all talk abt support n resistence lines all day, but nothing beats applying it in real life and seeing your PnL get affected when you enter trades. You start of with demo of course but in demo you are judged by him on how much you earn.

And really who can gurantee ur trades? If he tells u to enter trade here, if the trade turns wrong how? Even professional IB traders dun make money all the time. He can only guide and say this looks like high probability trade n these are the patterns, then u decide u want to take the risk and enter anot. U tell me which instructor dare to say enter this trade with him at the same time. I will really respect him.

Webinar and forum i seldom use so i cannot comment much.

Thing is for my own personal account, I am using a different trading style. His style is 3-5 pips profit, 6 pips loss. That will suit his market making trading life in the past, assuming what he claims that he is Head of FX trading in IB is true. Market makers grab the little profits and run every day. For normal people like me, i cannot afford to keep looking 10 sec, 1 min or 10 min charts everyday. Hence my style is aim for 20-30 pips and maybe just 1-2 trades or nil at all each day. That being said, I did learn much from him, on how banks made money, how banks do their chart patterns and the chart patterns that work. I think as your own trader, you have to be open minded n learn from many people and then come out with your own successful style.

Lastly, its 3.5k for 4 mths? 2 times or once a wk? He claims he is an ex Head of FX trading. Do I believe him? I think so, either that or he is damn charamistic to pull that off. For a 4 months course with a real person from the industry, i think is not that bad, considering there are other courses out there with the same price taught by ppl who just traded at home for a few years and then decide they want to teach some trading course. That being said, this money is not for the financially desperate. If you got spare cash and wanna learn more abt FX, then go for it. But like what the previous person posted, if you join this looking for a career, then i tell u dun bother. the traders or instructors there dun seem those high flyer trader types you see at those front office at IBs.

I have attended his so called classes before as well. They gave me a free preview for a week to attend his webniars and after attending one, I didn't attend the rest.
What they say is true, he will give a turn by turn commentary of what's going on and that's it. He will not commit when you should enter or exit.
In my opinion, you should look elsewhere for an education into the forex market.

 

[sAVaGEmP5]

No way you can make money from ppl on the sell side

Its a scam but i just dunno y ppl here are finding 1001 reasons that this is not a scam. Why not just give me ur money ??

 

[cheesybites1]

looking at all the bad reviews here i dont tink im interested to go to the forex foundation course (fully sponsored) anymore

 

[bei_ge_wang]

Any bros here can advise further?

I THINK most of the comments were by non traders, hence they do not understand the fluidity of market movements, which is perhaps the chief wasn't able to give direct replies. I am assuming.

I am enquiring cos I am considering giving up on my existing job in equities dealing to join them in FX.

 

[excloc]

One of my friends joined sixcapital recently. It seems that they have a different model now.

Its a 12 week modular course for FX, then the course fee is FULLY refundable with interest to you after the 12 weeks. I went to take a look at the contract and it was written in black and white.

But if you are looking to be an employed trader, I think it might not be suitable for you. It seems that they are offering propriety trader positions only to top students. Unless you are really so outstanding, then you might be offered a permanent position.

if you need to find out more, you can see my recent review based on a visit to sixcapital office at SGX centre.
Six Capital Forex Course

 

[sweetyethandsome]

One of my friends joined sixcapital recently. It seems that they have a different model now.

Its a 12 week modular course for FX, then the course fee is FULLY refundable with interest to you after the 12 weeks. I went to take a look at the contract and it was written in black and white.

But if you are looking to be an employed trader, I think it might not be suitable for you. It seems that they are offering propriety trader positions only to top students. Unless you are really so outstanding, then you might be offered a permanent position.

if you need to find out more, you can see my recent review based on a visit to sixcapital office at SGX centre.
Six Capital Forex Course

18% interest??? thats really high. and good if its for real.
only danger is if the firm folds before the end, then good luck.

the contract, i am not sure how legal binding it is.
hope it is good!

 

[excloc]

from what I see:
- place and train program with e2i
- collaboration with SIM
It has quite some established presence so I dun think it will fold easily.
as for the contract, I am not a lawyer but I think it is worded very precisely.
Just my thoughts.

 

[Toons]

Any way to see their audited balance sheet n pnl statement? They are not listed, so not published :-(

 

[archcherub]

Any way to see their audited balance sheet n pnl statement? They are not listed, so not published :-(

Think they have a new investment programme called tag the chief right?
About 2% per month from Forex trading.

Then the other FX B shares programme.. They control the A shares while u own the B shares.. The A shares trade the full funds and return 18% a year, guaranteed.

Contracts for both looks very clean and neat, and in bold "governed under singapore law" but the fact that the other party is an entity listed in some British Virgin Islands...
Makes u hesitate.

 

[Toons]

Think they have a new investment programme called tag the chief right?
About 2% per month from Forex trading.

Then the other FX B shares programme.. They control the A shares while u own the B shares.. The A shares trade the full funds and return 18% a year, guaranteed.

Contracts for both looks very clean and neat, and in bold "governed under singapore law" but the fact that the other party is an entity listed in some British Virgin Islands...
Makes u hesitate.

Yea, the 18% guaranteed annual return looks good, but tats if the company is still solvent in 1 yrs time. To offer investors 18% interest, it must be getting more than 20% returns. Also, dunno how much debt it has. Ask to see audited P&L n balance sheet, got a flat out 'no'. Oh well

 

[Ponziwarrior]

Six capital raising funds from Singaporeans but their traders lose money. Ask anyone working there. They have a scorechart showing the results of unprofitable traders. But they are paying returns on their investors. Very suspect. Likely to be a Ponzi scheme using new money to pay old money. Singaporeans beware.

 

[alexchia01]

Think they have a new investment programme called tag the chief right?
About 2% per month from Forex trading.

Then the other FX B shares programme.. They control the A shares while u own the B shares.. The A shares trade the full funds and return 18% a year, guaranteed.

Contracts for both looks very clean and neat, and in bold "governed under singapore law" but the fact that the other party is an entity listed in some British Virgin Islands...
Makes u hesitate.

There is no such thing as guarantee return in trading.

When company does thing kind of thing in a market that is beyond their control, you have to be on your guard?

Even the best traders can't promise guarantee 18% return annually.

 

[inspiredmarketing]

thanks for the sharing

 

[sweetyethandsome]

Six capital raising funds from Singaporeans but their traders lose money. Ask anyone working there. They have a scorechart showing the results of unprofitable traders. But they are paying returns on their investors. Very suspect. Likely to be a Ponzi scheme using new money to pay old money. Singaporeans beware.

lol. how to ask? ask liao they dunno us, they sure bluff and say sixcapital earning money mah.

i remember asking someone from the Lion Empire something... wait Sunshine Empire! (got a lion head in their office)
say till making tons of money every week..

when sunshine empire collapse a few mths later, that someone later revealed embarrassing that he never turned a profit...
i LOL.....

but having said that, sixcapital got a proper record for the past 5yrs returning funds leh... from their scalping exercises.
scalp 3 - 5 -7 pips?
seems legit.

 

[Wolfnet]

but having said that, sixcapital got a proper record for the past 5yrs returning funds leh... from their scalping exercises.
scalp 3 - 5 -7 pips?
seems legit.

I mentioned this before and will highlight this again.

Six Capital also makes money from the rebates from Dukascopy as their introducing broker. All they need to do is to find enough people to trade and then just sit back and earn about $1 rebate per 100000 (or 1 lot) notional traded so every round trip yields them $2. Scalping encourages lots of churning and minimises risk which fits their model perfectly.

The end result is:

1) trader makes money = they win
2) trader breaks even = they still win
3) trader loses money = they will ensure that trader does not trade anymore to minimise losses by letting the trader go

Heck I think those trainees that do not make it in the program and continue to trade after they leave Sixcapital still give rebates to sixcapital unknowingly.

Just my 2 cents worth...and I speak from experience with another such firm...

 

[wahkao3]

Yea, the 18% guaranteed annual return looks good, but tats if the company is still solvent in 1 yrs time. To offer investors 18% interest, it must be getting more than 20% returns. Also, dunno how much debt it has. Ask to see audited P&L n balance sheet, got a flat out 'no'. Oh well

wa 18% return!!! so much! where to sign up!?

 

[archcherub]

I mentioned this before and will highlight this again.

Six Capital also makes money from the rebates from Dukascopy as their introducing broker. All they need to do is to find enough people to trade and then just sit back and earn about $1 rebate per 100000 (or 1 lot) notional traded so every round trip yields them $2. Scalping encourages lots of churning and minimises risk which fits their model perfectly.

The end result is:

1) trader makes money = they win
2) trader breaks even = they still win
3) trader loses money = they will ensure that trader does not trade anymore to minimise losses by letting the trader go

Heck I think those trainees that do not make it in the program and continue to trade after they leave Sixcapital still give rebates to sixcapital unknowingly.

Just my 2 cents worth...and I speak from experience with another such firm...

oooo true true.
the presenter of sixcapital mentioned that in the 2nd plan 18% guaranteed return, the company is bound to make money when traders trade on their accounts.
they taking capital to JP morgan, to get guarantees to dukascopy, and traders can trade on their account for 1:xxx leverage (i didnt bother to remember the numbers), in which sixcapital will earn when they trade.

fair enough..
anyway whoever invest, do it at ur own risks

sunshine empire's office also very chio that time...