Forexboat Trading Academy Review: Is this a Scam?

Forexboat Trading Academy Review: Is this a Scam?

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ForexBoat Trading academy tells students that they can start trading smarter with powerful Forex techniques and put their trading on autopilot. They claim to have over 21k subscribers, 250 plus videos online and 50 plus hours of content. They describe their online course content as follows:

“Build a foundation for advanced Forex trading. Whether you’re brand new to trading or you just need to brush up, these 10 courses will get you started.”

The owner of Forexboat also wants traders to know that he has tested every strategy out there during his 8 years of trading. “With 8 years of experience, I’ve seen just about every Forex strategy there is. I’ll share those techniques with you, answer your questions, and provide new tips each month.”

They also want students to know that Forexboat is a community of traders. “With 12,000+ traders in our community, you can chat about trading, ask important questions, and learn with the most dedicated Forex community on the web!”

If this information is true, it would appear that Mr. Kirill Eremenko is a truly qualified Forex trading educator.

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But there are ways to know whether or not it is worth trying this trading school. At the moment, we have not included it into our list of Forex trading products because of the reasons we shall disclose in this review.

Forexboat Trading Academy Review

The owner of this trading school is advertising may potential benefits to joining his school. He makes the following statement on his website:

In ForexBoat Academy you will find Nearly 450+ Videos structured in different courses that will guide you through the most complicated Forex concepts in a simple, easy-to-understand manner.

Our primary goal is to teach you:

  • Both Basic concepts and advanced techniques that every trader needs to become successful
  • How to avoid little mistakes which can lead to BIG LOSSES
  • How to evaluate risk and market conditions and use the best trading approach for every scenario
  • How to create and test profitable trading strategies
  • How to do money management the right way and protect your trading account
  • How to put your trading on autopilot using smart forex trading robots

When we sit down to review any of these trading educators, my goal is to look at the product and the claims made by the people who sell them.

In this case, Mr. Kirill claims that his students will earn 6.75% in 10 days. That would mean 20.25% in monthly returns which is not possible to earn on a consistent basis when you consider the Forex market conditions. Unless you combine this with Crypto currency trading, I just don’t see how one can attain those returns. On top of that, I am not quite sure if Mr. Kirill’s LinkedIn profile is accurate because without a verification mechanism in place, trading educators can craft a very impressive LinkedIn profile.

Testimonials about ForexBoat Trading academy

This Forex trading school has decided to post reviews of their trading school in their own website. The problem with such testimonials is they can be manipulated easily. They can be fake even. Some of the examples can be found below:

“I owe most of my financial success in trading to ForexBoat. Well structured courses and provided knowledge can help anyone to understand and beat the markets!”

‘A great life coach once said that you have to learn from someone who has done it all. Kirill has been in the trenches and knows what Real FX trading is all about.’

“The road to Forex mastery is bumpy. But with the ForexBoat Trading academy you will get a great hand-holding learning experience and gain confidence quickly.”

You agree that these reviews can be fabricated.

The truth about ForexBoat Trading academy

Some of the courses sold at ForexBoat website appear to be nothing more than snake oil because I simply cannot see how a person with zero experience in Forex trading can make 175% returns a year as claimed by Kirill’s Forex Boat Trading academy.

Secondly, in the promotion video, Forex Boat claims that they teach how to make Forex expert advisors earn 100% returns. There is no claim that is as ridiculous as the claim that a Forex robot can be optimized to earn 100% ROI. Even the best ones here don’t have that strike rate.

The Forex Boat Trading Academy has a following of 12,000 people on their Facebook page. The thing that doesn’t make sense for me is why out of 12K followers, only 14 people reviewed Forex Boat Trading on Facebook, giving it a 4.9 out of 5 stars. These star ratings seem suspicious enough to worry me.

We expect these 12,000 followers to at least act as ambassadors of Forex Boat academy. But their reviews cannot be found elsewhere on the internet except on the website’s Facebook page. Do you find this a little disturbing that even a website that has existed since 2014 and claims to have over 5000 students has no ratings/reviews on forums like Forex Peace Army and other random sources on the internet?

We don’t know about you, but we find it very difficult to believe that Forex Boat is legitimately followed by 12000 people on social media and has enrolled over 5000 students.

Mr. Kirill of ForexBoat claims to operate a live trading room for purposes of teaching his students trading techniques in a live market environment.

We don’t know about the level of quality of this live trading room on Forex Boat Academy, but I think it would be much better to clear some of the suspicion surrounding this trading school before a trader can even consider spending time on this live trading room.

Our best advice for you

We obviously don’t agree with the misleading marketing materials on Forex Boat academy website. In addition to that, I cannot verify whether Mr. Kirill is live trading any Forex account. The so-called live trading experience consists of examples of the trades he took and their outcomes. Is this live trading? No it is called cherry picking of trades. Having said this, we still recommend these trading products and have no intentions to include Forexboat Trading academy into our list of recommended products.

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