Little-known forex trading pit sales recruitment Scam

I found that the ” dealers “, ” trader ” in the guise of hiring and selling positions is really quite a lot, and there are even users described as follows Scam:

“it took me a month and a half to run all the foreign exchange companies in the northeast, southwest and north suburbs of the city. 85% of them were job sales, 10% recruited grass-roots sales under the banner of recruiting traders, and the remaining 5% either transformed or closed down.”

What’s even scarier is that I also found a lot of newbies who just graduated, or newcomers who want to enter the finance industry are seriously considering these positions on Baidu and various postings.

So, in order to prevent more readers from being scammed, I’ll give you a brief explanation of how this works today.

Four steps to detect the scam

Job sale is recruitment marketing, which appears to be recruitment on the surface, but it is actually a means of marketing.
The trick of hiring and selling originated in the insurance industry, pretending to recruit insurance salespeople, but asked employees to buy the company’s insurance first after successfully applying for the job.
Today, this routine has been used in many industries, such as training institutions, foreign exchange margin / precious metals trading, financial management and other industries.
On the Internet, there are many friends who have interviewed “traders” and “traders” to share their experiences. Yan Xuanjun briefly summarizes the four processes of the “employment and sale” trap.

The first step, “high salary” and “low demand” recruitment scam

As a bait, this type of position seemed very attractive from the beginning.

  • Freedom of time and place, as long as you have access to the Internet, you can trade anywhere in the world, 24 hours at any time to place orders.
  • Basically no overtime, claiming to follow the trading hours to and from work.
  • There is a base salary, and a high commission. The base salary usually starts from 5K-7K, some can even reach 20K-30K, commission in 20% or 30% or more.
  • The company provides free induction counseling, providing a special tutor to follow up and guide the office operations.

Corresponding to the high treatment, the requirements of these positions seem surprisingly low.

Education generally does not require a bachelor’s degree, generally junior high school high school education or college can be. Financial experience is optional, but you will generally be required to be familiar with computer operations.

Obviously, these requirements are mainly used to screen people with a higher likelihood of being scammed, while maximizing the net to catch fish.

The low education or no financial professional background is more likely to be fooled, familiar with computer operation is to follow the training up easier to get started.

forex trading pit scam alter

According to the “hiring sales” industry insiders leak, now many people, especially the elderly do not know the computer, and want to get rich by trading, and foreign exchange gold operation is more complex, but also not easy to understand, do not know the computer training up quite difficult. So this part of the conversion rate is quite high customer abandoned, in the recruitment conditions added this requirement to screen the target customers.

The second step is the interview of “High-end atmospheric grade” secretly inspecting the family

If you pass the resume screening (which you usually do), you will be well on your way to the interview process, which is an important time for you to get up close and personal with company workers and observe the company environment.

Naturally, these companies are not ambiguous in their packaging. These companies are usually located in places with easy access, such as subway entrances. The interior of the company is very formal in terms of layout and staff dress. All of this is used to make the applicant let down his or her guard.

During the interview, the receptionist will send you a form, which will ask you to fill in some basic information, which may include what your parents do, your residential address, your commute, etc. The purpose of these questions is to determine your financial strength, if you are judged to be well-off, then congratulations, you will now become their key customers.

Overall, the probability of a successful interview is very high, after all, “flies and mosquitoes are meat”. Generally after only a simple interview, you can attend training or study in the company.

The third step, the training period

After participating in the training, I officially entered the pit. As for the content of the training, I will first tell you some basic knowledge of foreign exchange gold, such as the characteristics of currency pairs, technical analysis indicators and some simple fundamentals.
For example, the impact of the Fed’s monetary policy on the dollar, gold and other varieties.
By the way, give you popularity, you can make more money, leverage to magnify profits, this is a profiteering industry, encourage more persistence.
After the training, you feel that you have gained a lot, and you want to start making money with confidence.
Then, the company will tell you that since you are going to be an analyst / trader, you must have practical trading experience, but your resume is still blank.
According to the regulations of the company, the income is US $5000 and the monthly profit is 15%. If you complete the firm assessment, you can get the treatment of a junior trader: “basic salary of 6000 + 20% commission + national holidays + five insurances + year-end bonus”. There are also middle and senior trader treatment, which are no longer listed here.

The fourth step, the final assessment: It must let you into the gold!

How about it? Make money and lose money all on your own, earn and get a high profile job, to do or not to do?

No one knows if you can pass the test, but what is certain is that once you start trading, the company will start coming in. If you end up losing money, the company will encourage you to continue to trade in the money; if you run out of money, sorry, you did not pass the test, bye.

Reality is harsh, most people will be eliminated. But there are a small number of people who have completed the so-called “test” of the company. The company began to “not enough trading lots”, account retraction is too large and other reasons, do not pass the assessment, or extend the assessment period, until you lose money. If you are really good, and also all meet the requirements, the training teacher shut up about the transfer, you ask them, the face is also ugly, left to say he.

See here, you may feel that this trap is too simple, right, want me to give money absolutely not this does not become? The company has a lot of money to make money and then go away.

Indeed, these are only the most superficial set up, I believe that we read the article of the strict selection of the gentleman will not fall for this kind of trick again.

But if there is a capital management platform not only strictly vetted your qualifications, but also take the initiative to provide a large amount of money to you to manipulate, you will be tempted?

If so, you have to be careful, as for the reason, let’s look down.

Upgraded Routine: How about giving you 50% funding?

The external model of “hiring sales” is distinctive, plus there are many online experience sharing posts, except for white people basically nothing will be easily fooled.

But today, the strict selection of the gentleman also want to introduce a lot of experience postings are not shared to a means – “matching funds”. The front row first inserted a sentence, whether foreign exchange, or stocks and futures matching, are illegal.

The so-called matching funds, refers to the company in your original funds based on a certain percentage of your funds for your use, newcomers do not have so much start-up capital, or veterans want to expand their own trading scale, can be solved by the company to match funds. As for the proportion of matching funds, 1 to 10, 1 to 5 are available. A lot of people tend to see the company has to provide matching funds to let down their guard, but there are many ways to do it.

First of all, it is true that this money is free to use, but the trader still has to take real RMB and give it to the company as a risk margin.

But the platform will tell you that the more you earn, the more money the platform will provide, as long as your trading strength is over the top.

By this logic, the trader can achieve several times or even ten times increase in the size of the capital operated. As long as the trading skills are good, you can soon make a lot of money.

If you think so, you are really caught in the trap of the matching platform. Most of the platforms that use this scheme of “hiring and selling” can be divided into two categories.

  • One of the more formal is the typical foreign exchange white label platform
  • the other is to eat people do not spit out the bones of the betting type black platform.

For the typical foreign exchange white label platform, the platform generally does not give or only give a very low base salary, most of the income you need to earn by way of commission, and the trader matching account to add another commission and commission. I would like to remind you that not only is the account leveraged after the funding, but your trading fees and commissions are also multiplied.

In addition, the platform will also require you to pull clients to get more money for trading, in the process the platform is still able to collect dividends from new funds.

As the old saying goes, “there’s no such thing as a good buy,” and the matching platform will certainly not lose out. The white label platform is just not so cruel, through the fee “blunt knife slash meat”.

As for the betting on the black platform “hiring and selling” routine is more simple and crude. The so-called investment money they give is actually just the numbers shown on the platform, which is commonly known as the joy beans.

The market fluctuates by as little as one thousandth in the opposite direction, and your money goes into the pockets of the matching company, while they actually have nothing to offer.

Of course, you also have to do the right time, look in the right direction, so big leverage, not as hard to earn a large sum of money?

Things are not as simple as you might think. Once there may be a large profit, somehow the cardboard, slippage all come. The allotment company has all the means to burst your position. In case these means do not work, there is a run it, 36 plans to go for the upper plan.

But the trader of the allotment simply do not use.

The only purpose of the platform is to constantly encourage you to fund, and then let you lose all your principal. In this way, even many traders from the beginning to the end do not know that they are simulated plate drained of blood, when really think they are losing to the market.

Concluding remarks

Having said that, I believe that smart people reading this article will not easily fall into the trap of hiring sales again, nor will they be easily tempted by the scheme of matching funds. But if you still really want to experience the thrill of a tiger’s mouth, then I can’t stop you.

We will be happy to hear your thoughts

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