Is freedom rocks dot com for real or is it an MLM scam?

Answer 1

So....while not technically a scam...STAY AWAY !! The reason that some predict that Mark Vincellete will be on the cover of Time magazine is because of his brilliant strategy he developed for the Forex market. He is revolutionizing investing. Making huge amounts of money and retiring young is not just for hedge fund managers. Investors who follow this program have been making unheard of returns. I have not seen anything like this. Due to compliance issues I cannot reveal the returns on investment but when you demo the program you will see for yourself. Once you see the power of the program you will confidentially tell everyone you know about it. That is why the company is growing 40% a month by word of mouth. This is a Forex hedge strategy that reduces the risk in this emerging market and anyone can invest because of its simplicity. Instead of spending thousands of dollars and staying up all night it costs 100 bucks a month and takes 10-20 minutes a week to manage. You can follow the strategy with play money until you see how it works and are comfortable with investing. Don't take me word for it though. Research the strategy.

Here's another thought though. Something to definitely to keep in mind. Whereas this is not an overt scam, it does has some major pitfalls. The most basic is that FR gives the uneducated consumer an unrealistic view of FX trading. In addition their basic claim that certain pairs are correlated are just false. It is true that there is a high percentage of correlation in certain currency pairs, however and using EUR-USD and USD-CHF as an example if you use the FR system you go long in both positions and the claim is that one will cancel out the other. Nothing could be further from the truth. What you are actually doing is directionally trading the EUR-CHF and nothing more. So...when that pair is on the move up...everyone makes out like bandits and everyones happy. Beware however of when that currency pair falls. You could lose your entire investment in a matter of hours or days. Just ask the many thousands of people who've lost all their funds in a margin call.

In addition, FR introduced One World Forex - a now defunct broker as one of their recommended FX brokers and did not tell anyone that OWFX was in trouble until it was too late to get out. People have lost hundreds of thousands of dollars and there is a lawsuit being prepared against FR for their involvement.

So....while not technically a scam...STAY AWAY !!

Hungary's financial market regulator PSzÃ?F on Monday said it reported Freedom Rocks Inc, a US-based distributor of software for forex trading, to the police on suspicion of organizing a pyramid scheme. PSzÃ?F said an investigation it carried out established that Freedom Rock's activities cannot be classified as investment services or the intermediation of such services, but it still warned potential clients of attached risks.PSzÃ?F warned that neither Freedom Rocks nor the brokerages it recommends fall under PSzÃ?F's regulatory powers. Neither are members of Hungary's National Deposit Protection Fund or Investment Protection Fund. Because they are all based abroad, legal recourse may not be taken in Hungary, PSzÃ?F added.Information distributed about Freedom Rocks puts special emphasis on network-building, namely recommending the company's products to other clients, while it fails to draw attention to the additional financial risks related to FX trading, PSzÃ?F said.