So his name is Goodness Morakinyo and I hear him every Monday on UNILAG 103.1 FM in the evenings between 6:30 & 6:45PM and again between 9 & 9:15PM. I have stumbled across him on a few other stations and he speaks so sweetly promising 10 - 30% DAILY RETURNS (Note that - DAILY) trading FOREX on whatever you invest upwards of the equivalent of $100 having paid the N25,000 training fee. Is there anyone out there who has experienced what he promises, so we praise him (That I don't know something doesn't mean someone else doesn't) or has anyone experienced it as a fraud, in which case we should quickly ring the "E ba mi kigbe ole" alert (Thanks 2 Sound Sultan 4 that Bush Meat song!) We all heard of wonderbanks, a lot lost money to Club Freedom & Getaway Club. how real is this guy or is he Naija's answer to Bernie Madoff? Nairalanders, tell us what you know about all this FOREX trading 10-30% daily return on investment gist this man promises. I rest my case and over to you all!

I know a friend that invested with him and for close to 2 months now, it's been one excuse or the other.He invested N1m to get N3m after 6 months and this is getting to 8 months and he has not seen 1 kobo.
The guy has been lamenting since a month a go.I don't trust anyone !!!

Ops E:

I know a friend that invested with him and for close to 2 months now, it's been one excuse or the other.He invested N1m to get N3m after 6 months and this is getting to 8 months and he has not seen 1 kobo.
The guy has been lamenting since a month a go.I don't trust anyone !!!

and whats ur friend doing abt it?making noise at the backyard while someone walks away with his money and is even going on air looking for more preys?
25K training fees?oga ooo

The guy has been on ALL the radio stations in Abuja for close to one year plus. Then his seminar fees were 20,000, going up to 25,000 this year. As someone who has been trading forex for two years, I can tell you that it is a tall order to make up to 30% daily on a consistent basis. sometimes you have sweet moments, sometimes you can really suffer the kind of moments when you really wonder if you were hit by a sucker punch.

I've been there, I can tell you. The safest returns I ever promise any of my trainees is to aim for 40% a month, sometimes even 30% a month. Aiming for 30% a day is dangerous. I've never met him, so I cannot comment on his trade tactics or any of his deals. But people should be careful. Forex should only be traded with funds you can afford to lose.

There are other businesses that can give you great returns for N1m. Presently I cannot afford to lose N1m.

ifyalways:

and whats ur friend doing abt it?making noise at the backyard while someone walks away with his money and is even going on air looking for more preys?
25K training fees?oga ooo

It has been promise after promise and my guy still wants to give him sometime.He told me he promised this Friday.I'm praying for favourable outcome because e go affect me too if he eventually lost that kind of money now

'Quick money the spoil person'

As the saying goes, "if its too good to be true, it probably is". I heard the guy on the radio when i was in lagos and i said to myself, this guy should me under the jail somewhere. where is the EFCC when you need them?

it appears nobody regulates what anyone can say about making money in this country. people come out with ridiculous claims and feed it to gullible suckers all over the place and nobody checks them. u only get to hear what's up when the whole scheme collapses like a pack of cards. we've got "charles ponzis" and "bernie madoffs" strutting the landscape unchallenged by the regulatory authorities.

don't get me wrong. forex is legit business. but i'm sick of false and unrealistic claims of returns on investment made by some of our "gurus".

i'm sure there're laws protecting the public from such claims in saner climes.

@stagger

stagger:

The guy has been on ALL the radio stations in Abuja for close to one year plus. Then his seminar fees were 20,000, going up to 25,000 this year. As someone who has been trading forex for two years, I can tell you that it is a tall order to make up to 30% daily on a consistent basis. sometimes you have sweet moments, sometimes you can really suffer the kind of moments when you really wonder if you were hit by a sucker punch.

I've been there, I can tell you. The safest returns I ever promise any of my trainees is to aim for 40% a month, sometimes even 30% a month. Aiming for 30% a day is dangerous. I've never met him, so I cannot comment on his trade tactics or any of his deals. But people should be careful. Forex should only be traded with funds you can afford to lose.

There are other businesses that can give you great returns for N1m. Presently I cannot afford to lose N1m.

@stagger
support your claim of 30% - 40% return with proof and maybe some people will try to trust you with their money.

paste your proof online or send it to mayorteeny@yahoo.com

If he really makes 30% daily, he will not be teaching.

He will be too busy trading and making the money!

He is the next Madeoff.

If he really makes 30% daily, he will not be teaching.

He will be too busy trading and making the money!

He is the next Madeoff

.

To be realistic , I think that man is trying to scam people. Majority of this so called FOREX prof do not a live account.

I

To be realistic , I think that man is trying to scam people. Majority of this so called FOREX prof do not a live account.

I have been trading forex actively now for over one year and i can categorically tell you that no good trader can guarantee you 30% daily returns on your investment.Telling people to do 10%-30% daily is suicidal and its just a matter of time before you lose all your money.The rule of the game is to teach people how to compound their profit and before you know it your bank account will begin to overflow.
Forex is a very lucrative PROFESSION and i dont think i want to do anything else to earn money the rest of my life.Pls dont get me wrong cos am not saying its been all that rousy for me; infact last year alone i lost over N3M to the market and i had to start all over again( though am not there yet but am doing very fine).
I have been using the secret of compounding and last month alone i did 90% on my investment and dis month i have done 12% already.
My conclusion about this Mr forex guy is that he is not a trader because if he trades he wont be saying what hes saying.
To prove to folks here that compounding indeed is the rule of the game, am simply going to attach an excel spreadsheet that shows you how you can compound $500 to over $100,000 in 6months and over $50M in one year. Compounding is what the big boys like Warren Buffet and George Soro are using.
Last Year alone Buffet Did over $2Billion just compounding and risking very little of his investment.

PS: Am not selling anything here and am not asking any one to come buy anything but just sharing my own view.

JAZES:

I have been trading forex actively now for over one year and i can categorically tell you that no good trader can guarantee you 30% daily returns on your investment.Telling people to do 10%-30% daily is suicidal and its just a matter of time before you lose all your money.The rule of the game is to teach people how to compound their profit and before you know it your bank account will begin to overflow.
Forex is a very lucrative PROFESSION and i dont think i want to do anything else to earn money the rest of my life.Pls dont get me wrong cos am not saying its been all that rousy for me; infact last year alone i lost over N3M to the market and i had to start all over again( though am not there yet but am doing very fine).
I have been using the secret of compounding and last month alone i did 90% on my investment and dis month i have done 12% already.
My conclusion about this Mr forex guy is that he is not a trader because if he trades he wont be saying what hes saying.
To prove to folks here that compounding indeed is the rule of the game, am simply going to attach an excel spreadsheet that shows you how you can compound $500 to over $100,000 in 6months and over $50M in one year. Compounding is what the big boys like Warren Buffet and George Soro are using.
Last Year alone Buffet Did over $2Billion just compounding and risking very little of his investment.

PS: Am not selling anything here and am not asking any one to come buy anything but just sharing my own view.

What trading platform do you use?

Majorly i use MT4 brokers and i have been using just two brokers since i started. They are Alpari(uk) and fxdd(usa).

JAZES:

Majorly i use MT4 brokers and i have been using just two brokers since i started. They are Alpari(uk) and fxdd(usa).

Okay, Thanks. I thought you were doing it over the internet. I use forex.com , but they do not trade the Naira that is why I was asking.

Edit: Forget what I just said, I just googled fxdd and Alpari.

Of course forex is done online and forex.com doesnt accept nigerians on their platform but u can try any of the two i mentioned.

JAZES:

Of course forex is done online and forex.com doesnt accept nigerians on their platform but u can try any of the two i mentioned.

Thanks, it was after i registered on forex.com i realized they do not trade Naira. I will check the 2 you listed.

moneygurl:

Thanks, it was after i registered on forex.com i realized they do not trade Naira. I will check the 2 you listed.

moneygurl:

Thanks, it was after i registered on forex.com i realized they do not trade Naira. I will check the 2 you listed.

Pls dont get it all mix up cos there is no broker that allows you trade the naira.Naira is not part of the instruments use to trade online fx; u can only trade the majors like dollar,pounds, euro, yen etc. Hope u understand?

JAZES:

Pls dont get it all mix up cos there is no broker that allows you trade the naira.Naira is not part of the instruments use to trade online fx; u can only trade the majors like dollar,pounds, euro, yen etc. Hope u understand?

Okay, Thanks. I now understand. I guess i have a lot to learn about forex before I start putting my money. I just thought I tried forex after losing money from stocks.

@ jazes
where can i learn forex trading? pls advice

30% Daily is not possible. I know these because I trade FOREX too and my investor i pay on a Long term (7Month) and Short term (4Month). Am working on a new percentage plan cos my investors are complaining that the returns is too small.

I will need your help on these thread: https://www.nairaland.com/nigeria/topic-296700.99999.html#bot

My investment range is from $500 to $5, 000 and anything above that forget it and mind you my package is not a get rich scheme investment plan.

I look forward to response, advice and critics

@nio68,
you can learn a great deal about forex at http://www.babypips.com/school/
take your time to go through it properly and you will be happy for it cos its the most simplified and detailed sites that teaches you forex.

Ops E:

I know a friend that invested with him and for close to 2 months now, it's been one excuse or the other.He invested N1m to get N3m after 6 months and this is getting to 8 months and he has not seen 1 kobo.
The guy has been lamenting since a month a go.I don't trust anyone !!!

Learnt that our dear Mr Forex has been relaxing in UK since 2 weeks ago while my poor friend is under pressure to settle his bills.All his effort to reach him has been unsuccessful.What a cruel way of treating people !!![/b][b]

I pity my man, he's really miserable now, he doesn't even know what to do.

ok, this is a pure case of unnecessary proliferation.