Apiary Fund has been blasted several times for cheating traders. Also known as Apiary Investment Fund, this company runs a Forex and stock trading program where members are trained and ultimately funded by the company.
In other words, Apiary Fund is a prop-trading firm where investors are lured in with the promise that they will be funded with a minimum sum of $2,500 if they ‘prove’ that they can trade and make profits consistently.
What surprises us is that despite this company having operated for a number of years now, investors have always complained that Apiary Fund cheats by making it impossible to qualify for these funded accounts.
We’d like to mention that the concept of prop-trading is entirely not new or scam. It’s a good concept especially if you’re dealing with a legitimate company like Tradenet (which operates with the same business model but with generous amounts in their funded accounts)
So, why is it that many people are now against the so-called Apiary Fund?
Probably this review will shade light on what this company really is and why you should never consider doing business with them.
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Yes, Apiary Fund will make you lose hundreds of thousands of dollars if you go into it without thinking twice.
First of all, before we raise any accusations here, we need to speak a little about what this company offers. Let’s start by saying that a lot of up-selling is involved here. You do not pay once for your ”training” because there is the membership fee and the various subscription fees which have to come at various stages of the ‘learning process’.
Apiary Fund is supposedly funding members anywhere between 2500, $5,000, $10,000 or even more depending on their ‘qualifications’ to manage a bigger account.
That’s not necessarily a bad idea because at least they are helping you kick-start your trading with a good account size, mostly if you’re a broke dude.
The problem only sets in when some or all of their requirements are not practically achievable. Of course the site states some minimum requirements that members must attain in order to win a funded account. But not so many people have managed to fulfill them. In fact, the few who claim to have fulfilled these requirements don’t show proof that indeed they got a fully funded account through Apiary Fund training program.
They offer a 12 module course which supposedly teaches the fundamentals of Forex and currency trading. They then teach you a number of trading strategies that are popular alongside versions of those trading techniques.
As an enthusiastic member who is dying to trade with them, Apiary Fund will maintain that you should pay $100 monthly subscription in order to retain your access to the learning modules.
Like Tradenet, Apiary Fund has live chat rooms and records where you sit, listen and even participate in. Everything is documented and stored in a library of videos which can be accessed for a one-time fee of $297 (if you want lifetime access to this content).
The company claims that they do teach people the skill of becoming excellent money managers. However, what majority of people say online about them is very different from what they have been promising members of the public.
So far, there are claims that Apiary Fund also charges every individual member $600 in addition to the monthly subscription fee of $100.
Of course they do promise you a funded account if you obey what they are telling you. We must repeat: it’s nearly impossible to meet their funded account requirements. And even if you manage to beat them in their own game, they will give you peanuts which are not even sufficient to cater for your bills if you traded with them as a full time trader.
Also, clients who have a winning strategy are entirely ignored. They hate answering emails from these clients because these people are obviously smarter than them. This means that every time Apiary fund gets a smarter person, they lose money. They don’t want such business because it makes them lose money.
We do not even know why we are having this subtitle in the first place. But we feel that it was worth mentioning what these guys have promised rewards in terms of payout percentage.
So far, traders are promised a 60% profit while the rest ‘goes to the fund’. As you advance, the firm claims that you will ultimately qualify for a higher payout, say 85% and above.
The question is, why do you donate to the fund? Why do they use your skill to help them donate to the fund? That’s a wrong approach of putting things across.
Now, the team behind this company are real people. This company was founded by Shawn Lucas in 2011. They later appointed a man called Colton Chesnut as vice president of technology.
Unlike many other on the internet, these people have chosen to voluntarily expose their identities. This is not a bad thing at all.
By telling us who owns the company, we immediately feel that Apiary Fund is excluded from the classic scams that use fake owners and testimonials to lure in unsuspecting victims.
However, this does not mean that Apiary is sincere in their operations. We should of course consider other factors when drawing a conclusion of what this company is.
While we conducted our investigations on the so-called prop-trading firm, we smelled a rat. We came across a guy called ”Dakota Andrews” who claimed that they had been awarded with a funded account.
This guy was of course doing what we expect these companies to do. However, we have never heard or come across any genuine person giving their testimonials of how the product is good and then literally begging viewers to sign up with their email addresses below.
This has never happened and cannot happen unless the person doing this is employed by the merchant of that product…. in this case, Apiary Fund is the merchant.
While the concept of funded accounts sounds great to all Forex traders, one needs to take a step and put on their think hat before making any move.
You see, in the case of Apiary Fund, access to the software and training can be very expensive. You hinted the costs involved in the initial paragraphs of this review.
What surprises us is that Apiary is a fine print somewhere on their site which clearly states that they will not be responsible for your losses.
Let’s make this clear. This statement contradicts what Apiary has been preaching all along. Secondly, it makes them look unethical. And thirdly, it drives prospective customers away, and thus negative reviews will never stop to tarnish the name of this company.
We believe that we have said all that you needed to know concerning this prop-trading firm. If you don’t want to spend and potentially lose all your money, avoid this training program and invest in these ones instead.
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