Why Do You Need A Forex Entourage Review?
People always ask, “Can I make money with Forex?”
And the answer is , “Yes! Yes you can … loads of it. And brokerage firms love people who want to make a quick buck!!! They love impulsive people because impulses and the heart to take an insane amount of risk are keys to success when trading currencies.
But, they are also keys to emotional disaster as well.
The highs and lows associated with trading on any platform are many, but on the Forex where you could lose $10,000 in a matter of minutes, emotions are just as volatile.
This Forex Entourage Review offers necessary information allowing you to make an educated decision about entering this program. This review is going to cover:
- What Forex Is
- What Forex Entourage Is
- My Take On The Matter
- Why I Chose The Program I Belong To Instead
What is Forex?
Before I can give this Forex Entourage Review, I must explain what the Forex is. Forex brokers execute trillions of dollars of trade per day. It is a trading platform almost double the size of the New York Stock Exchange. Unlike stock brokers who trade on NYSE, the Forex employs brokers who trade currencies.
How much is a Euro worth in America or how many American dollars do I need to have one Euro? How many Japanese Yen can I get for one American dollar? I have five Euros that I want to convert to American dollars. The American dollar continues to decline against the Euro, since Donald Trump became president. As long as Donald Trump remains in office, the American dollar will continue to lose value.
The rate of conversion between currency pairs fluctuates, sometimes, by the minute. The fluctuation is small enough to seem insignificant, but if you capture it 100,000 times, it can be insanely profitable. The change happens 4 decimals out, although some happen 5 decimals out. One pip is a rate change that happens 4 decimals away and a pipette happens 5 decimals away. Here are some examples:
- .1234 to .1239 = 5 pips
- .1234 to .1229 = 5 pips
- .12345 to .12350 = 5 pipettes
- .12345 to .12340 = 5 pipettes
Depending on the currency pair, you can find the value of each pip.
Forex traders make their money by catching pips and pipettes. Forex brokers profit from their spread which are typically pips.
There are 3 types of analysis tools available to the industry. Despite needing technical skill, hours of study and much practice, Forex brokers encourage people to learn trading regardless. If you do not take anything away from this Forex Entourage Review, know that trading on the Forex is something anyone can do.
But you should also know it takes a lot of time and there is a huge learning curve. The concepts are moderately easy if your brain is set up to understand numbers and ratios, but when you get into the technical tools needed to analyze your trades, you are really going to have to employ your whole brain.
Wealthy Affiliate’s way of teaching people how to make money online is easy, but as easy as it is, you still get support 24/7. If you don’t believe me, you can watch me chat with someone in real-time and they respond in less than 3 minutes. It’s an inside peak at Wealthy Affiliate from my back office.
What is Forex Entourage?
The goal of Forex Entourage is to help everyone make money through trade and networking. Forex Entourage is an affiliate marketing opportunity based around a Forex signal software. The company boasts that 80% of the signals they send are profitable trades. Once you sign up, for an extra fee, you can be an affiliate of Forex Entourage. As an affiliate you make commissions off everybody you bring into the business 3 generations down. For example:
For the person you refer = $25
The person you refer, refer’s a person = $10
The person you referred, referred a person and that person referred a person = $5
Another way to make money with Forex Entourage is profit sharing. Based on your organizations business volume, you may be eligible to receive bonuses. Therefore, there are 3 ways to make money with Forex Entourage. Here they are:
- Trades you place based on signals you receive from the software.
- Converting people into your team.
- Bonuses based on the business volume of your organization.
Since there are 3 ways to make money, it seems people would be successful. However, I am still unsure of what is really going on here.
While this set up is really nice, especially since you get overrides based on your business volume, it’s a bit much to understand and a lot to do. Affiliate marketing and MLM compensation models have a lot of potential to be extremely lucrative, but they are a lot an they take a lot of work. I prefer getting paid by referring people to something I believe in so they can make money of their own. I don’t want to recruit people with the hopes I can dig into their profits.
Is Forex Entourage A Scam?
Trade on the Forex market is not the subject of a central regulatory department. Unlike stock trade, where trades based off of inside information are illegal, Forex trading sessions are common. A lot of trade decisions are self-fulfilling. The candle stick chart is a technical analysis tool used to predict the movement of an investment. Based off analysis, a lot of people are going to make the same trade, therefore outcomes tend to become what they were thought to be. Who is to say that the person telling us specific trades to execute isn’t setting up his trade against us? Or what if he is already in a position when we execute a trade. Here is an example:
The facilitator of the trading session wants to make money on the American Dollar. He wants the American dollar to grow in value against the British Pound. The person facilitating our trades buys a standard lot of 100,000 units of the American dollar. He tells us that the American Dollar is going to grow. The expert suggests we put in an order to sell British Pounds against the dollar. The American dollar grows once we place our trades. Other people around the world see the direction of the candle stick chart and place trades as well. By the time the trend changes, the person facilitating the trade could have taken profits twice.
In other words, we do make a profit. However, it is peanuts compared to what the person facilitating the session makes by manipulating our trades. This is unethical and borderline unscrupulous.
How Much Does Forex Entourage Cost?
What would this Forex Entourage Review be without talking about expenses? Being that the potential to make money is what it is, entry into this program is really expensive. I do not like that it is as expensive as it is yet there is no one to speak to. Anyone you try to contact will tell you that they would love to have you as part of their team and they extend a FaceBook friendship. Another expense that I can bet on is your initial investment into your brokerage account.
If Forex Entourage is a signal software, that means you still need a trading account and capital to deposit. Getting a brokerage account is kind of easy, but finding one where your deposit is less than $250 is hard. Brokerage accounts with an initial deposit of less than $500, firms are sketchier than bigger banks. No mention of additional capital needed to open a brokerage account is shady on behalf of Forex Entourage. Many people are going to give their last $180 to find out they need another $100 to fund an account. If I am wrong, I hope an affiliate will leave a comment clearing up any confusion.
Alternatives to Forex Entourage
With programs this expensive, you have to be careful. While Forex Entourage probably has tons of resources to help promote your business, targeting strangers for $180 investment takes skill. They give you a website, but they would never tell you it was better if you had your own. The company may give you banners, but they will never tell you that banners do not convert the way they used to. They will tell you that you can promote your business for free without telling you paid advertising is the most effective way. Nor will they tell you you need an auto-responder to start building your list – another expense.
Before someone gives this company close to $180, it should be very clear what other expenses the affiliate or member may incur. You cannot trade Forex markets without a brokerage account. Since brokerage accounts need funds, you cannot use Forex Entourage without one. Why isn’t that in bold print?
My interest in Forex Entourage has subsided because I can’t get over the fact there is no mention of needing a brokerage account to place trades. Therefore, I have pulled together some alternatives, in case you really want to start earning money trading currencies on the Forex. Besides, this would not be a comprehensive Forex Entourage Review without listing other options.
Forex Entourage Review Conclusion
Without a network full of impulsive people, Forex Entourage is a risky investment. Therefore, if you are interested, you should learn all you can for free. When I first started trading the Forex, this was where I learned everything. I have completed these courses at least 2 times over the past 5 years. The courses are great for the beginner as well as the seasoned investor. There is a forum of people who are always happy to help and offer support.
Also, it is important, before you go live or before you fund a real brokerage account spend a few months trading in a practice account. BabyPips.com will walk you through everything. BabyPips.com starts in Kindergarten and ends in College. There are tons of lessons at each level that you can mark as complete to track your progress.
Other Software Systems
Based on this Forex Entourage Review, I believe that you can be successful with Forex Entourage. However, do I think it is the best option? No. Besides the built in affiliate program and educational component, Forex Entourage is not different from other signal software. However, it all comes at a cost.
Super Profit Scalper launched in February 2017. This scalper works with MetaTrader which is by far the most respected trading interface in the industry. This signaler boasts that you can earn anywhere from 100 – 200 pips a day.
This software is said to be user-friendly. There are 4 different trading styles and 3 different notifications when a signal is sent. It costs around half of what Forex Entourage costs and there is no recurring fee. There is a base price and then there is an upsell price. No matter which option you choose, unlike Forex Entourage’s $100 a month fee, Super Profit Scalper is a one time, flat payment.
Since BabyPips.com is free and extensive, you can make real money using your Super Profit Scalper while learning how to trade. You can use signals that you profited from as part of your personal technical analysis training. Using candle stick charts and what you have learned, maybe you can discover the conditions that Super Profit Scalper’s algorithms respond to. You can also learn how to recognize trends that generate profitable signals. These processes can be part of your study and it would be an invaluable tool.
Forex Entourage Review – Final Thoughts
This Forex Entourage Review, concludes that other options, may be more profitable and more cost efficient. Also, Forex is something we all should be tapping into. Trading currencies is one of the best and most profitable ways to earn money online and it is something anyone can do.
Just this year, they have developed a new Artificial Intelligence named Amelia, I think. At any rate, she speaks 20 different languages and she is a call center representative with the capacity to put 250 million people out of work. I’m just saying that in order to be super successful at making money using the internet, all you have to be is human.
Either way, anything you can do to leverage the income generating potential of the internet is definitely a win. If currencies are something that you are into and you have enough spare time to teach yourself to learn about them, take action on them, and how to trade them, you might want to consider building an entire website around them. That would allow you to earn money while you learn how to trade. I mean, not only is it a hot market, not a lot of people are ready to put in the work.
For whatever interest you have, I’d be happy to show you how to monetize it. Here is an actionable guide that will show you how to get started. Should you take any action, you’ll have direct access to me.
What Are Your Questions?
I would love to hear your feedback? If you have any suggestions or comments, please do not hesitate to comment below. You will not be bothering me in the least bit. Whatever you are apprehensive about, whatever else you want to know about, heck, maybe you want to tell me about your day? Everything is game.
- Signal Software that sends more profitable trades than not.
- Multi-level marketing component.
- The Foreign Exchange is an extremely lucrative hustle.
- During trading sessions, the facilitator could be setting up massive trades for their own self.
- Cannot get any information without joining.
- People who do belong to the opportunity are weird.