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We got an email from an aspiring trader who wanted to know more about Andrew Mitchem’s The Forex Trading Coach program. He basically wanted to invest in this Forex training, although his mind was still divided.
You see, for a training program to be priced at $2,500, there must be some real value in the course…….. Most people will think so.
On the other hand, he didn’t want to send money just like that without first inquiring from people who might have a clue.
This prompted us to conduct an in-depth research on the said Forex course offered at “the forex trading coach website”. In the process of analyzing it to find out the truth, we also discovered that Mitchem of The Forex Trading Coach program was luring poor fellows to pay exorbitant fees in the name of getting ”quality” Forex training.
It is a bad joke that people are paying such high fees just to get into a sham. This fact alone has prompted us to write a review about this bogus Forex coaching program. We couldn’t hold back our discoveries since our job is to keep you safe from falling in the hands of Forex fraudsters.
This website (theforextradingcoach.com) should be a no-go zone to anyone who seriously wants to learn how to trade.
The reason why we are saying this is because that site is selling lies, misconceptions and falsehood, while charging extortionate fees for the vice. Consequently, it would only be fair to warn the general public as opposed to just one person.
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Okay, let’s get to the meat and bone of the matter. Who exactly is Andrew Mitchem?
Well, according to his own words, he is a full time Forex trader, a private fund manager, an investor and a trading coach. Those are too many things in one. Now, let’s tackle each one of those:
You will be mangled by this fake ”fund manager” because his reputation is shoddy. He operates another corny site by the name wealthwithforex.com, and there he claims to be a fund manager who will open an account for you if you can ”invest” a minimum of $20,000.
But the problem is very clear. He states that his ”investment‘ strategies are low-risk yet high-return oriented. But how come there are no third-party verification on the site? No track record to prove that he is speaking the truth. Others are also raising the same issues against this FX training school.
As if adding insult to the injury isn’t enough, this online con introduces the infamous Forex Trading Coach program. He charges a whooping $2,500 to get started — yet he claims on his website that he can subscribe you for free if only you sign up with your email.
Besides that, he is charging a whooping $20k just to train you privately at home or on a one-on-one coaching session. Worse still, this coaching only runs for one day, and boom! Your 20k is gone!
After seeing all this trickery, we deduced that Andrew Mitchem targeted high net-worth clients who wanted to invest in Forex trading but didn’t know where to start.
Secondly, this man seems to be targeting people who equate a high price tag with quality. After all, this is the psychology of everyone out there. But in the real sense, he is selling the ultimate dream of a trader for a very very expensive price.
Let’s get back to the false and misleading statements that piqued our interest. The website has since posted several videos (they are broken into episodes).
Episode 227 purported to be offering real trading results. We analyzed and found them to be false. Now, we are concerned with one particular episode that was entitled ”just one trade will make you more money than what you can save in the bank for a year”.
That statement can be described as ridiculous. First of all, it is generally acceptable that money which you save in the bank will remain as is if it doesn’t add any interest at the end of the day. But with trading, there is no guarantee that the profits you’ve made in your account today will remain the same at the end of the year.
On the homepage, this guy boasts that he has over 10 years of experience, and that he has trained individuals from over 58 countries.
What’s more, he claims that the success rate of his students has skyrocketed ever since they passed through his hands.
But look, we want you to realize that this is an unsustainable claim. Secondly, no one particular proof shows that this man is a trader himself even from his forex trading coach website. Before you donate him some $20k cold cash, take that into your brain!
We also ventured into the FAQ section of this site where we encountered even more jokes. He says that he makes 5% per month when trading on the h1 and h4 time frames respectively (of course no proof is given on this one either).
He promises his students that his methods will transform them from zero to hero status in record 90 days, and that they will instantly see a 5% increase in their accounts.
But let’s be clear on this: the above statement is akin to saying that you will be a better neurosurgeon with just 3 months of attending med school, and that you will beat those who have been there for decades.
It is clear that Andrew is targeting the diligent trader who follows his ”free advice” the same way sheep follows its owner.
In his pitch, he claims that he first started on a $3,500 worth of trading account, and that he was averaging $150 everyday.
If his 5% return story is true, he could compound those earnings, and soon we will see him on Forbes, right?
We don’t like his claims because he is misleading thousands of traders. If you browse his site, you will catch him saying that he never risks more than 0.5% of his equity. In truth, that percentage is meaningless in the sense that you will still lose everything if you don’t have an edge. You can call it death of a thousand cuts.
Now, the good news is that you don’t have to fall for scams like The Forex Trading Coach. Stick on the good side by joining mentors on this platform. Forex Mentor is worthwhile in all aspects of learning.
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Thank you for your review of The Forex Coach. I was thinking of working with him after Online Trading Academy got $20,000 for 2 courses (Core Strategy & Forex). So, what about Beacon Learning Group? They advertise as ‘One on One Mentors’ (as did the Forex Cooach). OTA gave me a TON of info but implementing it successfully seems to require a coach at least for me. If Beacon Learning group is also a scam then is there any one on one type mentoring you’re aware of?
I love it when someone writes a “review” on sites like this but unfortunately this page is completely useless and irrelevant as it’s only the opinion from someone who has never seen any part of my coaching, training and strategy. How is this allowed??
Why would you not come to me first and actually take a look at the course, so you could at least write a review that has any merit.
Hi Andrew,
I am considering purchasing your course. I just finished your book, Dairy Farmer To Forex Trader. I have been burned before and have spent money on a course that was practically a waste of time. $2000 is a lot of money and I was wondering if you have a money back guarantee. Would I be able to take a closer look at your course before I decide to purchase it?
Hi Rita,
Yes there is a money back guarantee. If my Daily chart trade suggestions do not make at least a 20% return in 12 months from joining (at just 0.5% risk per trade) then you are entitled to a full refund. Therefore this is a performance based guarantee – the very best proof and confirmation that we know our strategy works.
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Hi Rita
Im from South Africa and have been scammed a lot of times. I just wanted to know did you join a training course yet or did you try Andrew Mitchem?