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This is just me venting, but whatever.
There are several companies on Instagram and other platforms advertising FX education community services. These places charge millions over a few years, or 500k in six months.
And here's what they actually do:
・Direct people to Discord where materials are posted saying "figure it out yourself."
If you don't understand, ask the instructor.
→Nobody fully understands, so they get directed to YouTube videos saying "watch these." Understand it yourself or ask questions.
→Nobody understands. Half kind of get it, but even when they ask questions, the responses are vague.
・Direct people to Discord saying "try line trading chart analysis. We'll review your work."
→Takes half a year just to get a response, and only happens a few times.
And the "review" is just one sample of how to draw lines plus a few lines of explanation per chart.
There's no way anyone improves at trading like this!
So yeah, they're running this crude (not fraudulent, but crude) service and thinking it's a goldmine. 100k, easy money.
Then these problem customers flow to me.
When a customer threatens legal action and says "We're canceling and demanding a refund," the company refunds half. So 500k gets returned to the customer.
The other half stays with them, and then they ask me: "This person paid us money, so please mentor them properly."
I feel bad for the person, so I agree to do it for free.
→Then I get sued saying "The teacher took 500k from us, so please provide proper instruction."
And I'm standing there thinking: wait, I didn't get paid anything!