Author Topic: Bad examples of 'trading jobs'... lies, lies, more lies.  (Read 418 times)

PipMeHappy

  • Sr. Member
  • ****
  • Posts: 330
  • Likes: 129
Bad examples of 'trading jobs'... lies, lies, more lies.
« on: September 29, 2020, 02:06:16 PM »
Hello all,

I applied for this job yesterday:

https://www.reed.co.uk/jobs/home/view/40962344

The top of the ad ran like this:

"Self Employed Foreign Exchange Trader Opportunity

Earnings: 60k - 100k plus OTE, dependent on the performance

No previous trading experience required.

We provide both the training and the trading platform to trade the stock and FX markets.

We will give you the knowledge so that you can implement trading strategies across all financial markets.

You will liaise with Senior Traders and the Senior Management, communicating open risk and learn how to manage portfolio diversification."


--- UPDATE as follows ----

I got an e-mail from a company called Educate2trade who offered me a '30-day free trial' on their education course
to learn how to trade.

I then got a call today from a salesman asking if I wanted to take up the offer of the free course...


The conversation went something like this:

- Salesman: So are you interesting in the free trial?

- I: what happens after the free trial period?

- Salesman (clears throat): Well, it will then be 50 Pounds a month;

- I: what about the trading, what is the business model, e.g. percentage of profit split?

- Salesman (clears throat): So, you would be self-employed so we would not give you a contract;

- I: okay, I understand that I would not be employed but what would be the agreement? Would I get capital?

- Salesman (clears throat again): Well, no, we would introduce you to a broker, BDSwiss, do you know them?

I: ..... No.....

Salesman: yes, we would get you to use them, so that is how we make our profit;

I: okay, I understand, well, I am not interested then, thank you.

Salesman: oh, okay, bye then.

-----

To summarise:

a seemingly legitimate ad promising 60-100k earnings actually turns out to be a scheme for

YOU to pay a company 600 Pounds a year for the PRIVILEGE to basically trade YOUR MONEY

with a broker of THEIR CHOICE.




Ridiculous and comical, if it weren't that it is true and some will fall for it.


AGHHHHH
« Last Edit: September 29, 2020, 03:13:41 PM by PipMeHappy »

BWS

  • Full Member
  • ***
  • Posts: 111
  • Likes: 56
  • Gender: Male
Re: Bad examples of 'trading jobs'... lies, lies, more lies.
« Reply #1 on: September 29, 2020, 03:06:49 PM »
Have you reported this to Reeds- they are a long established company and may not appreciate their site being used in this way. I would personally also notify the FCA as this is misleading.
Trade2win are a trading forum and should not be carrying out stunts like this,
"I wouldn't say I'm the best manager in the business, but I'm probably in the top 1" - Brian Clough

PipMeHappy

  • Sr. Member
  • ****
  • Posts: 330
  • Likes: 129
Re: Bad examples of 'trading jobs'... lies, lies, more lies.
« Reply #2 on: September 29, 2020, 03:13:09 PM »
Sorry, I have changed it, it was Educate2trade, not Trade2win!!!


PipMeHappy

  • Sr. Member
  • ****
  • Posts: 330
  • Likes: 129
Re: Bad examples of 'trading jobs'... lies, lies, more lies.
« Reply #3 on: September 29, 2020, 05:05:13 PM »
Have you reported this to Reeds- they are a long established company and may not appreciate their site being used in this way. I would personally also notify the FCA as this is misleading.
Trade2win are a trading forum and should not be carrying out stunts like this,

Emailed them now, hopefully yhey will take the ad down!!

BWS

  • Full Member
  • ***
  • Posts: 111
  • Likes: 56
  • Gender: Male
Re: Bad examples of 'trading jobs'... lies, lies, more lies.
« Reply #4 on: September 30, 2020, 10:35:21 AM »
Have you reported this to Reeds- they are a long established company and may not appreciate their site being used in this way. I would personally also notify the FCA as this is misleading.
Trade2win are a trading forum and should not be carrying out stunts like this,

Emailed them now, hopefully yhey will take the ad down!!

They are still showing it this morning. Not very impressed
"I wouldn't say I'm the best manager in the business, but I'm probably in the top 1" - Brian Clough

PipMeHappy

  • Sr. Member
  • ****
  • Posts: 330
  • Likes: 129
Re: Bad examples of 'trading jobs'... lies, lies, more lies.
« Reply #5 on: September 30, 2020, 10:31:18 PM »
Have you reported this to Reeds- they are a long established company and may not appreciate their site being used in this way. I would personally also notify the FCA as this is misleading.
Trade2win are a trading forum and should not be carrying out stunts like this,

Emailed them now, hopefully yhey will take the ad down!!

They are still showing it this morning. Not very impressed

Hmmm maybe they are not bothered...

Caesar

  • Administrator
  • Hero Member
  • *****
  • Posts: 632
  • Likes: 142
  • Gender: Male
  • Admin
    • NotTheNoobs
Re: Bad examples of 'trading jobs'... lies, lies, more lies.
« Reply #6 on: October 04, 2020, 03:31:48 PM »
maybe they are not bothered
I see its still advertised today. Have you reported this to the FCA?
Hail Caesar.
No, just a bit of rain

PipMeHappy

  • Sr. Member
  • ****
  • Posts: 330
  • Likes: 129
Re: Bad examples of 'trading jobs'... lies, lies, more lies.
« Reply #7 on: October 05, 2020, 04:39:28 PM »
@Caesar

No... the Advertising Standards Agency though have it on their website that because of Covid19 they are not accepting e-mails from the public...

Reed's local office got back in touch today saying that they do not deal with the advertising online; I thank them for their reply.

Also today I got a reply from the online advertising office for Reed and they said that they are looking into this to check if there was a breach of their regulations/standards and thanking me for bringing it to their attention.

So I have done my bit and it is up to them :)

PipMe

Gazza

  • Newbie
  • *
  • Posts: 14
  • Likes: 7
Re: Bad examples of 'trading jobs'... lies, lies, more lies.
« Reply #8 on: October 09, 2020, 02:50:14 PM »
They are stills showing this. I have reported it to Reeds but dont expect any different.  >:(

PipMeHappy

  • Sr. Member
  • ****
  • Posts: 330
  • Likes: 129
Re: Bad examples of 'trading jobs'... lies, lies, more lies.
« Reply #9 on: October 09, 2020, 03:52:19 PM »
@Gazza  Yes, I checked yesterday too, it is still there... Either they have a few such things to check or they think it does not violate standards. Oh well, thanks for checking up on this... I did my best, and now so did you!