FreedomRocks.com?

March 8, 2006 6:48 AM

Anyone know anything about FreedomRocks.com?

Inspired by an earlier post about investment schemes, I'm curious to know whether anyone has an experience with or knowledge of FreedomRocks.com. I know, I know -- if it seems to good to be true, it probably is, and this one requires a substantial investment. One of my dad's friends has started participating in it though, and seems to think that it's totally legitimate (and profitable!). I can't find any independent information on this elsewhere on the internet, so I'm looking to you all. Anyone involved? Anyone have any insight on programs utilizing foreign exchange trading generally?

posted by roundrock to Work & Money (14 answers total)

My first instinct is to say, in my best stoner voice: "Freedom Rock?? Hey man, turn that up!!!"

*cough*

But, seriously, this quacks like a duck, smells like a duck, etc etc. You pay a large sum up front, which is a big red flag. You're given a bunch of claims that you'll make a ton of money (ala "Financial Freedom", a phrase I just hate), which is another red flag. No investment firm worth its salt is going to work through this torturous business model.

It may be legal (which is doubtful), but it's definitely gaming on the wrong end of the scale.

This reminds me a lot of the World Currency Cartel.
posted by thanotopsis at 9:01 AM on March 8, 2006

This has hoax written all over it. Any "investment" plan where you are told exactly what to do and are guaranteed profits is only an investment in scammery.
posted by allen.spaulding at 9:11 AM on March 8, 2006

One of my dad's friends has started participating in it though, and seems to think that it's totally legitimate (and profitable!).

Is it profitable, or does he just seem to think it would be? Whatever the answer, ask him again in three months. And thank yourself for not suspending your disbelief.
posted by deadfather at 9:23 AM on March 8, 2006

You spend your life reading about get-rich-quick schemes and 419 scams, and you figure that only happens to people who are stupid, greedy, or gullible. You think, "I know people who would fall for that, but I also know people who never would." There's nothing quite like the surprise you feel when you realize you were wrong about the second part.
posted by cribcage at 10:31 AM on March 8, 2006

Netsol says:

FreedomRocks.com
Mark Vincellette
2559 Plaza Del Amo #116
Torrance, CA 90503
US
Phone: [phone]
Fax..: [phone]
Email: [e-mail]

CA business search has zip on both contact name and the business.

This has MLM written all over it. (referral/signup, monthly renewal, "cycle bonus", "POWER OF THE INTERNET", "bronze/silver/GOLD" levels)

Even a cursory Google search screams "Fuck no". Seriously.
posted by bhance at 1:59 PM on March 8, 2006

The bottom line is that forex trading is lucrative, but the only way to succeed is not through a shortcut - like someone selling their "system" for a couple of thousand dollars, but through your own thorough study and analysis. No shortcuts exist that work longer than very short-term. The market is always changing.

p.s. their name reeks of medicine show scammery - that alone should scare you away.
posted by horsemuth at 2:02 PM on March 8, 2006

Interesting blog. FreedomRocks is relatively new. The forex version was launched in November of 05. I'm a little puzzled as to why you think it requires a large down payment. FreedomRocks rents its software for $100 a month with a $45 registration the first month. Most of its competitors do charge from $2-4,000 up front. ie. FX Trainer, or Forex Made Easy. FreedomRocks has no upfront loading. It seems they feel once you use their software, you won't go away. They must be very proud of their product.

The forex market is very risky for a new investor. FreedomRocks thru FX Solutions offers a free $10,000 account to play with using their software. Once you are fully experienced with the software, you can use your own money. Take a few months to be sure, however.

If you want, you can find more information at www.4xquestions.com.
posted by upline at 3:35 PM on March 11, 2006

What *is* forex trading? Forigen exchange?
posted by delmoi at 5:46 PM on March 12, 2006

Forex is short for Forein Exchange that is, the exchange of the US Dollar and the Euro Dollar as an example. This market trades over 2 billion each day and is open 24 hours. I'm not sure why that would be considered a scam. Please enlighten me.
posted by upline at 6:21 PM on March 12, 2006

Just for the record, FreedomRocks does nothing in predicting what stocks to buy. Not sure where you got that. Watching too many movies I guess.
posted by upline at 8:49 PM on March 12, 2006

Interesting blog. FreedomRocks is relatively new.

This is what we, in the business of playing on the real internet, call a "Fakimonial".
posted by thanotopsis at 9:03 AM on March 13, 2006

MetaTalk thread. upline appears to be a FreedomRocks affiliate.
posted by russilwvong at 10:35 AM on March 13, 2006

Wikipedia article on forex scams
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posted by upline at 2:24 PM on April 16, 2006