Forex Fever rocks Jamaica
Posted on January 30, 2008
Filed Under Forex & Investing Online
Forex Trading-We’ve written three posts on online forex trading in Jamaica and the Caribbean and by far they represent three of the most read articles. As a result of that we’ve been send a lot of information on fxtrader personalities,investment clubs self taught traders and trading platform companies positioning themselves for the Jamaican market.
What we heard of recently. There is f1investments which is a group of Jamaican pilots some based locally and others in Dubai, they put in their own cash as well as accept members and submit the money to Olint to trade on their behalf. I know someone who’s been with them for 4 months and they’ve been averaging a monthly return of 9%.
Then there is DeArgent (spelling dubious) which was around just after Olint started making the headlines. They are traders and also submit monies to Olint. Their investment rules are that a member is to keep their money invested for a minimum of 6 months, you can start with a US$1,000 minimum and their guaranteed monthly return is 5%. Then there is WorldWise, which you can start with as little as US$600 and the promise a monthly guaranteed return of 12% per month. And there are other individuals who are simply creating sub accounts under their name and take a percentage of the money earned on the account. Again easy money.
Most recently there is minvestment.com which has polarised many worldwide with the reports that they are a scam and others who claim they are being paid and have been paid. With minvestment.com you can place US$100 for 150 business days and come out at the end with US$11,000.
To Join or to Trade.
One would think that with the increased choices of forex trading investment clubs, Jamaicans wouldn’t be bothered to learn to trade for themselves. Not so. FX training company Market Traders Institute (MTI) - established by Jared Martinez who trained the man who is easily Jamaica’s most famous trader, David Smith of Olint - report having trained over 2,200 persons since they opened an office here 18 months ago.
To further fuel the forex fever, Martinez and Smith launched GoTradeJamaica.com with a compelling offer, pledging to add US$100 of their own money for each person who signs up to start trading with their own US$300.
Great link: Dennis Chung on the Business of Forex
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[…] FOREX blog wrote an interesting post today onHere’s a quick excerpt We’ve written three posts on online forex trading in Jamaica and the Caribbean and by far they represent three of the most read articles. As a result of that we’ve been send a lot of information on fxtrader personalities,investment clubs self taught traders and trading platform companies positioning themselves for the Jamaican market. What we heard of recently. There is f1investments which is a group of Jamaican pilots some based locally and others in Dubai, they put in their own cash as well […]
[…] FOREX blog wrote an interesting post today onHere’s a quick excerpt We’ve written three posts on online forex trading in Jamaica and the Caribbean and by far they represent three of the most read articles. As a result of that we’ve been send a lot of information on fxtrader personalities,investment clubs self taught traders and trading platform companies positioning themselves for the Jamaican market. What we heard of recently. There is f1investments which is a group of Jamaican pilots some based locally and others in Dubai, they put in their own cash as well […]