Welcome to the Forex Smart Trade review. Forex Smart Trade is owned and operated by Paul Macmann.
Forex Smart Trade offers a day trading course on currency trading and also claims to fund students up to the tune of $100,000. The company (Forex Smart Trade LLC) wants to split profits with its traders in the ratio of 80:20.
That means that students will get 80% while company earns 20% of your profit. This is of course not practical!
In addition to this, no disclosures have been made regarding subscription costs associating with training and acquiring funding from the company.
It would have been appropriate if ForexSmartTrade disclosed every detail of their account funding program.
Company’s marketing materials is only focusing on selling a lifestyle of making more money, being your own boss and having free time.
For that reason, we’ve prepared a review of this company after conducting a proper analysis of who they really are.
If you’re one of those traders looking for funding, all we can tell you is that this is a tricky business and rarely do we find any legitimate funded account programs on the web.
Now, the good news is that you can always start trading with whatever little you have.
For $200 or less, you can get a proper automated trading software and with as little as $1,000, you can gradually grow your account without having to go through the hands of vendors who sell “funded account programs”.
Forex Smart Trade review
Company is selling Forex trading course and a funded account.
However, they want people who are “smart and coach-able”.
Students who will qualify will need to demonstrate to Forex Smart Trade that they can make profits from the currency market on a consistent basis.
The website even claims that they have hundreds of successful Forex traders who have earned a million dollars.
Before we complete this Forex Smart Trade review, we’ll have to see whether this company has proof of the same.
These unsubstantiated claims can sometimes be quite unsettling.
According to who.is, the website of Forex Smart Trade was registered in September 2018.
And according to the LinkedIn profile of the owner of Forex Smart Trade, we find that Paul Macmann was actually a marketer for the better part of his 2015 up to 2019.
It’s going to be very difficult to believe that this guy has sufficient trading experience.
It is not possible that Paul Macmann learned and became a professional trader in less than 1 year.
Before we discuss him, we’d like to talk about the things that matter such as training material, trading results and any other detail pertaining to Forex Smart Trade way of doing business.
Forex Smart Trade Review: the training
The company’s website claims that they have the “Best in-class training and indicators”
As a trader who is interested in this kind of product, I would really want to find out what kind of training is offered by this trading educator.
Of course we know that this company offers some sort of training but what exactly are the strategies being taught?
They should have probably listed the topics to be covered as well as an overview of what they’ll teach their students.
This information has not been included in the marketing material.
Furthermore, Forex Smart Trade claims to have the best Forex trading indicators.
We would have appreciated additional details of the trading indicators to ascertain whether or not they are truly the best in class.
Forex Smart Trade has not provided this kind of disclosure anywhere on their website.
Account Funding program
With no disclosure of how students will get trained on becoming successful day traders, the company hopes to “fund them”.
They are claiming that they can give between $50,000 to $100,000.
Nobody knows the truth here and we also don’t know of which student has ever qualified for a funded trading account through the program.
Mr. Paul or his affiliates will probably come here to claim that the video testimonials on daily motion is proof that they’re funding traders.
We cannot verify the authenticity of these video testimonials.
The company could have hired freelancers to do the job.
In an industry filled with scams, it would be naive to assume that these video testimonials are from real people who got funding from Paul MacMann’s Forex company.
That said, we still feel that lack of transparency is the main setback of using a service like Forex Smart Trade.
Who is Paul MacMann and is he a professional trader?
We doubt Paul MacMann’s alleged experience that warranted him to start a company claiming to teach, fund and slip profits with traders.
According to his LinkedIn profile, Paul spent the better part of 2015 up to 2019 marketing on the internet.
He even worked at a solar energy company.
How does this contribute to his Forex trading experience?
You know the answer already.
However, it’s quite obvious that Paul is an experienced marketer.
So he probably figured out that he could start a Forex trading company and leverage his marketing skills to lure the financially desperate.
Neither Paul nor anyone working for this company can produce a verifiable track record of successful trading in a live account.
So how can these guys train you to become a successful day trader? Just ask yourself.
And if they are that good at trading, do you think they would be looking for students and traders that need funding?
We just don’t get it because honestly, Forex Smart Trade is recycling the same old idea of training and funding traders.
There is no concrete evidence that students succeeded and got the funds to trade with.
Marketers know that trading is hard and the average Joe trying his hand on retail trading will definitely fail.
In the meantime, these so-called funded account programs charge a monthly fee to keep you paper trading.
This truth is probably the reason why Forex Smart Trade is not disclosing details of their funding.
Regardless, we will not recommend this Forex training and funding program because it fails to tick critical items in the checkbox.
Thanks for reading our Forex Smart Trade review. Let us know what traders are saying out there.