Dear Mr. Tan,
There are many negative comments about various Forex schools in Singapore. Some could be fake, some could be real. Whatever it is, government won't do anything base on rumours I suppose, unless many students lodge complaints like Clement Chiang's case.
But I believe something can be done:
1. Stop all the schools who claim themselves to be number 1, especially in their official website. Example of such schools are JF Lennon and Powerup Capital. How do they even gauge themselves to be number 1? It is dangerous for the public.
2. Warn Powerup Capital to remove their 100% accuracy claim in their website as there is no such thing as 100% in financial market isn't it?
3. Forex trainers to undergo exams and certify to teach. A person who prescribe medicine without being a certified doctor could be dangerous.
4. Forex trainers to produce their own live trading results for a period of time before getting the certificate as well.
5. Probably all the students who sign up for any course, are needed to send feedback to the MAS or whoever just after the course, being reminded by the trainers. One of the questionnaires could be "Did the trainer state all the possible risk". Probably the second feedback is needed after some time as well because students need to try out the things taught for a period of time.
6. If the trainer tells the audience that his student make $10,000 from $2000 after 3 months for example, then he should get a print screen of the real live statement. The name of the student should be there. The account number can be blackened. So as not to have empty talk and cheat the people. They must also claim that not all students could get this result.
I am sharing these because you may have the influence or power to help eliminate any possible bad practices.
Please read the comments posted here:
http://www.forexdna.com/education_revInfo.php?id=44
There are many negative comments about various Forex schools in Singapore. Some could be fake, some could be real. Whatever it is, government won't do anything base on rumours I suppose, unless many students lodge complaints like Clement Chiang's case.
But I believe something can be done:
1. Stop all the schools who claim themselves to be number 1, especially in their official website. Example of such schools are JF Lennon and Powerup Capital. How do they even gauge themselves to be number 1? It is dangerous for the public.
2. Warn Powerup Capital to remove their 100% accuracy claim in their website as there is no such thing as 100% in financial market isn't it?
3. Forex trainers to undergo exams and certify to teach. A person who prescribe medicine without being a certified doctor could be dangerous.
4. Forex trainers to produce their own live trading results for a period of time before getting the certificate as well.
5. Probably all the students who sign up for any course, are needed to send feedback to the MAS or whoever just after the course, being reminded by the trainers. One of the questionnaires could be "Did the trainer state all the possible risk". Probably the second feedback is needed after some time as well because students need to try out the things taught for a period of time.
6. If the trainer tells the audience that his student make $10,000 from $2000 after 3 months for example, then he should get a print screen of the real live statement. The name of the student should be there. The account number can be blackened. So as not to have empty talk and cheat the people. They must also claim that not all students could get this result.
I am sharing these because you may have the influence or power to help eliminate any possible bad practices.
Please read the comments posted here:
http://www.forexdna.com/education_revInfo.php?id=44
