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Forexboat Trading Academy Review: Is this a Scam?

Forexboat Trading Academy Review: Is this a Scam?

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Forexboat Trading Academy (Forexboat.com) review is out after complaints from current students reached our help desk. Forex Boat is claiming to be the best solution when it comes to offering fair trading practices. And this is as a result of professing to have a qualified panel of experts that offer their vast experience. What most users don’t know is that the platform is using another broker’s ASIC license details. And this is why we have to expose this rogue mentorship program.

Forexboat Trading Academy Review

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About Forexboat Trading Academy

The platform claims to be part and parcel of HLK Group Pty LTD. On their homepage, the platform claims to have a trusted user rating of over 90,000 traders. These people claim that the mentorship program is backed by Udemy, which is an online course provider. On searching for the program on Udemy, there were no results. And this goes to show the extent at which these scam artists will go to lure beginners to sign up. What is clear about this mentorship program is that it is targeting beginners.

Forexboat Trading Academy is, without a doubt misleading anyone who signs up with them. Even though they offer a bunch of classes, there is one problem with their delivery. We could not find any user who benefited from their studies. Traders should felt information on the full effects of their services. Apart from the testimonials we see on their homepage, there are no other independent sources. And these points to a mentorship program that fails to capture the hearts of beginner traders.

Assets covered by the mentorship program

Information on the available trading instruments taught on the platform is missing. From what we’ve seen, the platform is offering forex trading services. What they fail to mention is whether they provide crypto education. With crypto being a sort after niche, the platform ought to provide this training. Even with their forex assets, the developer fails to breakdown their full trading arsenal. And this is a problem since users are signing up without the full knowledge of what to expect.

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Business owner

As stated above, the platform is associating itself with a licensed managed accounts platform. The actual people who run the website remain unknown, which is a problem. For those who don’t know, anonymity is a risky feature in any online trading venture. The reason they associate themselves with a legit platform is easy. These developers want to associate the success of the managed account provider with the training program. And this goes to show the extent at which these scoundrels will go to entice newbies to sign up.

Comments from users

The testimonials we have seen are from different users in different areas. These comments are posted at the disclaimer of their homepage. Comments from users in Croatia, Germany, and Australia are seen on the homepage. We looked at the trading forums in these regions for any chatter. And you can imagine our shock when we realized the platform has no chat. There is no talk of this platform, which indicates no one is interested. Apart from trading forums, we could not find any posts on leading social media platforms.

Domain details

According to their domain history, the site went live on 21st April 2014. With over six years of trading history, the platform ought to have some degree of recognition. It is a shame that none of the contacts we reached out to have heard of the mentorship program. What is more shocking with their IP details is the number of changes on the site. There have been a total of six changes over the past eight years. And this means that ownership of the site may have changed six times.

Features of Forexboat Trading Academy

One interesting thing with the mentorship program is associating with an offshore broker. Users have to sign up with AxiTrader, which is an SVG licensed platform. Brokers that go for the SVG license have something to hide. The area is a haven for scam brokers who won’t fulfill their obligations. And this is the reason why we must expose the use of this trading platform. Ensure you stay away from all of their six courses. Even with a $29 per lesson price, the results are futile.

Forexboat license and registration details

Forexboat Trading Academy ASIC License

Forexboat Trading Academy is not yet licensed to offer its training to users. What is shocking with the vendor is that they are using another platform’s license details. The disclaimer at the footer of their homepage shows they are associated with HLK Group Pty Ltd. After contacting the managed account provider, they, too, were shocked by this audacious claim. It is clear that the platform searched for a regulated product and associated themselves with them. If the two were related, there is no way another unregulated broker such as AxiTrader would get involved.

For those who don’t know, the use of another entity’s license details is tantamount to fraud. What most people don’t know is that the platform will be out to defraud users. Even the course structure is essential, and it only offers basic questions. The FAQ page is a close feature of what to expect with the courses. With the course going for $29, it remains unclear whether this is a subscription plan. It is best to stay away from such a robot or else risk losing your real money and time.

Pros and cons of Forexboat Trading Academy

All courses

Forexboat Trading Academy All Courses

Forexboat Trading Academy is furnishing users with six courses. These courses include Forex trading, MT4 course, and Money management course. The second batch includes the Algorithmic trading course, forex robots, and forex VPS. All these courses come at a low price of $29. Do not be fooled by the cost as the vendor fails to state whether the price is full-course. Without relevant details of the platform, it could mean the robot is misleading investors. Once you buy the course, the developer may impose other charges.

Contact and support

For a training program, we expected the platform to offer live chat support. All that is shown is an email address and a phone number. We tried calling the number but could not get any answer from their end. Sending an email was our last hope, and the vendor fails to respond to our numerous queries. And this is what makes trading with this platform a scary experience. There is no way to confirm that after machining the purchase, the developer will come through.

Udemy course coupons

We notice that the vendor is selling these courses under different packages. And it means that the team behind the platform is not the same as that on Udemy. Users who complained stated that there were no video tutorials. All that traders received were PDFs of learning materials. Some criticized the vendor for offering material that can be downloaded for free. It is such a shame that such a platform is operating in bad faith. And this is why we must be vigilant with online mentorship programs.

Results and performance of Forexboat Trading Academy

From the look of things, some of these courses offer insane promises. One course claims that traders will earn 175 percent in ROI. We don’t see how a newbie can make such a high ROI with one single training course. These are the reasons why we must ensure that no one signs up with the platform. There is no proof that any of their courses has led to a user succeeding. The best the developer should have done is post videos of the course proceedings in action. Without credible results, we won’t be recommending the mentorship courses.

Scam or Legit Forexboat Trading Academy

Forexboat Trading Academy is a scam that must be stopped with all possible means. From what we’ve seen, there is no mentorship program going on. These are online scam artists that have gathered forex information and selling it to unsuspecting users.

Our verdict

We won’t be recommending the use of this mentorship program for various reasons. Stay away from it or else risk losing your entire deposits.

For those who want to learn and trade at the same time, the best trading robots are available. These robots are affordable and have been tested by industry experts. Go for proven robots that offer protection for your investments.

We wish all our investors a happy and prosperous trading experience.

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