BEWARE! THIS PROGRAM HAS STOPPED PAYING! DO NOT INVEST!

Hello all! The main update today is the concluding part of the MNO readers “Question and Answer” session with Charles, the admin of what is well on its way to becoming one of the most popular investment opportunities on the web today, and judging by the response I got from you I’m guessing a lot of you think so too. The program is ExoticFX of course, and in the unlikely event that you’re only hearing about it now (where on Earth have you been, lol!) you can start by reading my original review of the program here where you will find a detailed description of all the investment plans available there. Following that Charles took part in a memorable interview with MNO (which can be read here) where he did quite a thorough job of explaining the finer points of how ExoticFX works and some of the most ambitious plans for the future to be rolled out in recent memory.

It would appear that Charles is working hard to separate ExoticFX from the regular online HYIP business, and one of the ways he’s trying to do that is the opening of the program’s FTA – the ForEx Trading Apprenticeship scheme – where free of charge you can learn how to trade on the international currency markets yourself. And who knows? Maybe even learn to make a little money on the net yourself in the future, independent of any employers and reducing your dependence on other people paying you.

You can read the first part of the session with Charles in yesterday’s section by clicking here. Before we begin let me just repeat something I said yesterday and remind you that due to the fact that several readers submitted more or less the same question it wasn’t possible to include everything in the exact form it was written. So apologies again if you don’t see your exact question here, however if it’s not included then rest assured that somebody else asked it already and I’m satisfied that Charles has covered everything that was sent to him and all questions were addressed.

So let’s take up where we left off yesterday.

“25. How much time do we have to spend daily as a mentor to somebody else?

That will depend on the level of income you will want to earn from doing it. The mentor program will work like a referral share program. There will be commissions for the entry fee to those that make the referral, then there will be mentoring fees shared with all that mentor based on time spent mentoring.

26. How many apprentice positions are you looking to fill in the FTA program initially?

We will start the program by inviting all that apply and allowing progression by those that we can handle, as we can handle them based on demo account performance and testing.

27. I can’t seem to find your blog and forum. Can you give me the links to them so I can visit them directly?

ExoticFX.us/blog. The Forum is private, for registered members only, and is available from ExoticFX.net.

28. Customer Support has definitely been a priority for EFX and in my opinion, it is the best in the business. Will phone support be an option in the future?

Yes. Phone support will also be added when the Live Trading Room is developed later this year. Mentors will also have the ability to become regional representatives and will field FTA questions as well.

29. Have you ever thought of holding an EFX/FTA conference, maybe at the end of the first year ?

Honestly, we have thought of everything, or at least we hope we have. When the program is fully developed, we want to hold an annual conference but we also want to hold regional seminars as well.

30. Do you ever intend to open some kind of office or information center open to investors?

Yes. We will make our Home Office available once the program is ready as well as have Regional Offices available as time goes by.

31. You state in your bio that you are currently a dual Citizen of China (Hong Kong) and the USA. Perhaps you can explain how this is possible when China does not recognize dual citizenship of any kind and to become a Naturalized Citizen of China, which would have been your only option, you must first renounce all other citizenships and reside in the country for a minimum of 5 consecutive years? Just curious how you managed this little feat?

I note a slight bit of skepticism in this question. I never said that I had obtained a dual citizenship in Hong Kong. I said I had a dual citizenship and that I currently reside in Hong Kong. I am citizen of both the US and Ireland.

32. Are the mentors some of the traders who are currently managing the Forex trades for the ExoticFX accounts?

No. Our first mentors are being developed from associates and other sources we have solicited.

33. Readers may assume that the accounts the FTA participants manage at Stages 1 to 12 include investments from the ExoticFX program. Is that the case?

Initially that will not be the case, but at a later date, once fully developed and proven, this is the course we will pursue.

34. The training tutorials use MetaTrader 4 as an example. MetaTrader 5 is a more current release – can we use that instead? Or, can we use other charting/trading software and still participate in the program?

Since the program will be in effect through our own Trading Room, you will be limited to the tools and software we supply and approve. You can expect us to import all software we feel relevant or that can be proven as such.

35. How are the trades in our demo account communicated to the FTA program so you can track our progress?

At this point they are not. We will provide you with a demo account via our site that will then allow communication of progress, etc.

36. Once we have signed up for an FTA account, how do we make the transition from the demo account to Training Stage One?

This will be done by invitation. Allow me to clarify something. We are willing to give everyone the chance to be successful with this program as a sort of reward for assisting us from pre-release through full release. Since you will be using our funds, we have to be certain that the funds won’t be wasted. You will have to show certain successes with your demo account and pass the tests we provide. Prior to the FTA invitation, we will begin providing trade recommendations and, of course, will have taught certain strategies and will be looking for the most successful participants to invite first. As they succeed and we obtain the ability to expand, we will continue to do so and invite more and more to participate.

37. Some individuals may be reluctant to refer affiliates until they have reached a reasonable level of personal success in the program. Are they penalized in any way for this?

They penalize themselves and those they would be referring due to the fact the FREE aspect of the program will only last so long.

38. The FTA program mentions the participants will be paid a portion of their trading profits monthly. How are they paid?

Funds will be available via your trading account. They will be withdrawable via e-currency or bank wire.

39. The archives materials claim a recent string with 18 of the last 21 trades being profitable. How does this compare with your overall success rate?

Our trading strategies provide us an average of 88% success rate. So 88 out of 100 are successful or positive trades.

40. The FTA materials say participants will be provided with indicators, recommendations, live calls, and alerts so they can place trades and learn how to trade successfully. How will these be communicated? And, if routinely followed, how is the net result different from having your usual traders and mentors simply placing larger trades?

We will communicate with you via your Trading Room account, SMS, or email. You Mentors may communicate with you via IM and even phone, depending on your habits and relationship.

The only real difference is that you are in control, perhaps using a lesser leverage and you retain the vast majority of the profits as opposed to a minority.

41. The FTA materials mention a “secret timing indicator system” combining trend analysis, Elliot wave, and stochastics. When, how, and with whom is this shared?

All those that utilize our Trading Rooms, whether they are Free users, paid users or apprentices will have access to all our indicators and strategies.

42. I assume FTA participants will need to sign some confidentiality agreements. Are these currently available for review? Related to this, are there any restrictions on FTA participants managing their own personal FOREX trading account concurrently?

All of that is under development and will be available once compiled. There are no restrictions regarding managing another trading account.

43. Are FTA participants who live outside the Europe-US mainland time zones at a disadvantage?

No. You are free to trade any time zone you choose and in no way would you be at a disadvantage seeing as we will have mentors and assistance around the clock.

44. As MNO observed, many HYIP participants are mainly interested in passive income rather than becoming active FOREX traders. What are your plans to recruit FTA candidates if the response from ExoticFX account holders and other HYIP participants doesn’t fill the program?

We are already moving in the direction of more mainstream advertising and you will begin to see our new banners and adverts in various forex related sites. When the time is right, we will utilize more mainstream advertising efforts to attract FTA participants.

45. I have traded before and know that it takes an extraordinary commitment of focus and time to be successful. It takes up a lot of time for the participant and effort beyond just learning to trade. Many do not have time for that and they also probably don’t fit the psychological personality profile of a trader. Question: Does ExoticFX have an aptitude test a candidate can take? The US Government uses that as a screening method as do thousands of corporations.

To adapt an aptitude test to determine a person’s ability to perform is, in our opinion, demeaning and undermining our perception that our system will provide everyone that wants to learn to trade forex the ability to succeed. Not everyone will agree with our opinion, of course. But we feel that when you see the entire program you will understand that everyone can utilize or find one or more of our strategies that will work for them. By adding the ExoticFX.net Managed Fund option, you will also remove the urgency and desire to trade when no trade exists for your strategy.

46. My aim in EFX is to establish a passive income which will take 12 to 18 months. Charles says the returns, 2% daily compounded, can be paid by trading off my invested funds. That means that for every thousand dollars invested there will be a $35,000 compounded return for the investor in 180 trading days. Is that possible? Can ExoticFX still make a profit?

Absolutely. If not, we wouldn’t have provided the option.

47. If the FTA program is so easy and quick to learn and profitable, I would like to know why Charles hasn’t ever done it himself?

Fair Question. I continue to have interest in our Trust Management accounts. Dantex handles much of our portfolio and I have never desired to trade. I do admit, after researching the simplicity of the Quick Start program, I have been following a demo account with success and desire to learn more.

48. And finally (!), back to me again. That’s a fairly extensive and exhaustive list of questions. How do you feel about the overall tone of the questions raised by your own members here? Do you think it’s positive or are people somehow missing the point? Do you feel you’ve been given a fair opportunity to say everything you wanted? Is there anything you would like to add about either EFX or the FTA?

I feel that many haven’t fully understood our overall agenda and I appreciate the opportunity to clarify these points. No doubt that with the number of questions presented I have had a more than fair chance to explain and say practically everything I wanted to. In closing let me say:

If you are tired of pursuing profits from the HYIP market, want to earn a substantial passive income and/or desire to join a seriously dynamic program poised to become a financial giant in the world of online investing, then you need to take control of your own future and take part in the number one financial market of all time… the Forex Market!

We can teach you trade.

You can learn to trade part-time.

You will be successful.

All you have to do is want SUCCESS…

… and we are offering it for FREE!

ExoticFX – Just Profits!”

Thanks a lot once again to Charles for that, and especially thanks a lot to all the readers who took the time and the initiative to submit their questions. Good communication is a vital part of success in any business. A question that never gets asked never gets answered, so I’m pleased that so many of you took advantage of this opportunity to interview an admin for yourselves. Sincerely, I hope you’re satisfied with the results and they tell you what you wanted to know about ExoticFX and their FTA program. I know Charles will probably hate me for saying this but even if the information here convinces you to avoid ExoticFX the important thing for me is that you can independently research the programs you are interested in and ask the questions that matter to you, and not some monitor or blogger. After all, I already knew what I wanted. Now I’m just pleased that any of you guys that were interested can also say the same.

Anyway, best of luck to Charles with both ExoticFX and the FTA. And good luck also to the current and future members there. That’s it for the moment guys, but don’t stray too far as I’ll be back a little later tonight with some of the main news stories from the other programs covered on my monitoring page. So stay tuned for that and see you all then!