In this review we explain why you should be very cautious when considering investing money with Forex Insiders / Success Factory.
What is Forex Insiders
Forex Insiders, also known as Trading Insiders, Forex Insiders Trading and Success Factory, is an investment service that promises earnings from financial markets.
Forex Insiders say they are educating people to become successful in Forex trading. They give people trading ideas (trading signals) and people will supposedly make money if they follow them.
These trading signals are generated by a robot that allegedly was programmed by a very experienced senior analyst. The robot uses 48 different strategies at the same time and generates signals for 28 currency pairs. Alongside trading signals, Forex Insiders Trading will provide you with e-books.
Forex Insiders will allegedly earn you 20% or more in returns on investment per month.
The Forex Insiders membership is sold via Success Factory and it costs 49 euros per month.
Forex Insiders is not legit
If you are wondering whether Forex Insiders is legit, the answer is no. The main reason is that is an unauthorized and illegal service, and probably a scam.
These facts have been made clear by the Financial Markets Authority (FMA) of New Zealand. The FMA thinks that Forex Insiders may be a scam because it appears to be offering unrealistically high and guaranteed returns.
Not regulated and anonymous
The FMA has clearly stated that Forex Insiders is not regulated and therefore it is not authorized to offer financial services in New Zealand.
What’s more, Forex Insiders is not licensed in any country in the world. In fact, it is completely anonymous, you won’t find any contact information on the official website.
This means that Forex Insiders is illegal in most countries in the world. Because it is an unauthorized investment service, clients’ deposit are not protected in any way.
Forex Insiders don’t mention this on their website, but the FMA said that the promised returns are labelled as guaranteed. We assume the regulator got this information from real users of Forex Insiders.
While 20% per month is a very high number for any public investment service, the most important thing is that profits can never been guaranteed in Forex trading. We are not afraid to say that any service claiming that it guarantees profits in Forex trading is a scam.
The same stable profits every month are impossible in Forex trading, because the markets keep changing. Traders can be profitable every month, but their results will vary from month to month, that’s just the way it is.
So, the promise of a combination of high and guaranteed returns in Forex trading always is a big red flag. Therefore, we tend to side with the FMA on this one, we also believe that Forex Insiders is a scam.
If you still are undecided about Forex Insiders and you don’t trust the judgement of the Financial Markets Authority, you of course can try Forex Insiders, it is up to you.
But in that case we strongly recommend to try the trading signals on a demo account so that you don’t lose money in case they are not profitable, which very probably will be the case.
This way you will be able to ask for a refund of the price of the Forex Insiders membership and maybe lose nothing at all.
Do this with any strategy or system you want to try, first trade it on a demo to see if it really works.
Forex Insiders review – the conclusion
Forex Insiders is an illegal service and the Financial Markets Authority believes that it may be a scam. We recommend staying away from it!
If you are interested in financial trading, start on a free demo account with a regulated broker and learn. You have to build your own profitable strategy.
Forget about other people trading for you and making you money for free, such offers always are scams. Build your own strategy, understand the risks and then you can trade with real money.