Credit Card Companies BAN Forex Sites
Credit Card companies are now starting to BAN all forex trading websites. This will soon change the entire forex education industry as we know it.
Why Pick On Forex Sites?
Credit Card companies aren’t just picking on forex websites, they are starting to change their policies for other categories of websites as well.
The reason that credit card companies are turning against FOREX websites is that the overwhelming MAJORITY of Forex websites provide trading methods that DON’T WORK.
That’s right, 99% of websites claiming to teach you how to trade forex simply DON’T WORK.
It’s an ugly truth that usually isn’t talked about…
Forex Credit Card Crackdown
It started about a month ago when paypal stopped accepting payments for forex related products and services. Yesterday I received an email from my merchant (Plimus) stating that credit card companies have changed their policies and no longer accepting transactions for forex. There appears to be no appeal process, just a flat out refusal to process credit card transactions for forex websites.
While this change won’t affect Forex Brokers, it will affect websites that TEACH forex trading, or provide forex SOFTWARE.
Good News for the Consumer
This move by the credit card companies will effectively put the bogus forex websites out of business. Of course this presents a unique challenge for the handful of forex websites that ACTUALLY teach you how to make money for real with forex (like rapidforex.com).
There’s another hidden benefit for forex traders…
Using credit cards for ANYTHING is the WORST thing you can do if you’re trying to create wealth. If you understand compound interest, the last thing you want to do is to pay it…you want to trade forex so you can COLLECT it!
The Most Moral Decision
There is still time before the credit card companies get to all of the forex websites.
Here’s what I’m doing that I feel is the most MORAL decision in order to help you build wealth, trade forex, and live a better life. I’m making a few changes.
Change #1 No Banner Ads
I’ve removed the banner ads from the Rapid Forex website. There is only one method of trading that I know works, and that is portfolio hedging.
I used to allow advertisements on the website because it was profitable for me to do so. But in an effort to clean up the forex education industry, I’ll only be promoting the trading methods that put PROFITS in my POCKET directly through my own PERSONAL FOREX TRADING.
Change #2 No Credit Cards
Ok, so the credit card companies made this choice for me. From this point forward I won’t be accepting credit cards for Hedge Report membership. I’ll be accepting checks. I’ll be cutting everyone a nice deal since this requires a little extra effort.
What’s IRONIC is that the Hedge Report is more PROFITABLE than EVER.
The Hedge Report will still continue because it’s generating excellent profits for the members and I.
COMPLETE Transparency
In the next few days I’ll be posting the RESULTS of ACTUAL Hedge Report portfolio performance since the Hedge Report began. I’ll also update the website regularly in the future to show those results as they change and grow.
These are the SAME trades that I and the members of the Hedge Report have also traded.
The Hedge Report is a REAL trading method producing REAL profits for REAL traders.
I’ll also be providing a special deal for you to join the Hedge Report. Since I won’t be accepting credit cards, you won’t have to worry about getting automatically rebilled for something you’re not using. This allows you to only pay for the Hedge Report as long as you’re actually making money from using it.
This is actually a more fair deal for you 
I only know of ONE method that makes consistent profits from forex trading, so that’s the ONLY method that I will be sharing with you on the Rapid Forex website. If I discover another method that actually works, I’ll share that with you as well.
So far after 15 years of studying forex, there’s only one that I’ve found that really works…
I’ll be reopening membership to the Hedge Report as soon as I can show you the updated profits we’re generating, the Hedge Report is kicking ass and making great profits. I’ll show you what they are in the next few posts.
Tags: credit card companies, forex education, forex fraud, hedge report Posted in
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January 12th, 2012 at 11:46 am
Brian,
I think what you said speaks volumes of what kind of person you are. I commend you on your decision to make a statement that takes money out of your pocket, but on the other hand you will make that up with the Hedge Report anyway.
I respect you as a teacher of Forex and thank you for the kick ass Hedge Report.
Rob
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Rapid Forex
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January 12th, 2012 at 11:51 am
@Rob – Thank you for that. I’ve been considering taking down the ads for awhile anyway, I’m glad they are now down so we can focus on the good stuff that actually works!
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January 12th, 2012 at 12:32 pm
Does this mean that you no longer support Forex Sailing?
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Rapid Forex
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January 12th, 2012 at 6:21 pm
@Patrick – Forex Sailing is still on the website. It’s a good beginner method. I didn’t intend to suggest that Forex Sailing doesn’t work, simply that portfolio hedging works much better. Along the way I’ve made improvements as I’ve made new discoveries. Forex Sailing is still good, just not as good as portfolio hedging.
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January 12th, 2012 at 12:34 pm
Uh oh, this is a problem for those of us overseas,
1. Local cheques (not checks) may not be accepted or may have high fees and take a long time to process
2. Cheques drawn up by local banks on a US branch are $30-$50
so not sure how many of us overseas persons you have….
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Rapid Forex
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January 12th, 2012 at 6:19 pm
@Perrie – I will work with you to find a solution. There are a few other options. There are wire transfers & Western Union as well.
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January 12th, 2012 at 12:35 pm
I almost forgot, i don’t have any credit cards, i use a visa debit card only.
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Rapid Forex
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January 12th, 2012 at 6:19 pm
@Perrie – It’s still a problem with Visa for processing…
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January 12th, 2012 at 1:13 pm
Hmmm, I have to wonder about this…”I only know of ONE method that makes consistent profits from forex trading, so that’s the ONLY method that I will be sharing with you on the Rapid Forex website.” So, based on that statement, I must conclude that in spite of your prievious enthusiasm about Forex Sailing, the boot camp, etc., you have developed only just hit-or-miss (not able to make consistent profits) systems other than the portfolio hedging.
regit
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Rapid Forex
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January 12th, 2012 at 6:24 pm
@Regit – It wasn’t my intention to suggest that my own methods (Forex Sailing & the Forex Ladder) didn’t work. They are evolutionary steps along the way to portfolio hedging. Portfolio hedging simply works best. I tend to think of all my methods as one evolution of ideas. Portfolio Hedging it currently the only method I trade. In the past I’ve traded Sailing & the Ladder, so they are still ok. But with portfolio hedging, there’s no need to trade these anymore. They still work, just not as profitable as the HR…this should make sense as I wouldn’t come out with something new unless it was better than the old.
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January 12th, 2012 at 1:56 pm
Probably a little off-topic, but I just had to comment on this: “Using credit cards for ANYTHING is the WORST thing you can do if you’re trying to create wealth. If you understand compound interest, the last thing you want to do is to pay it”
Well then, don’t pay it
Credit cards are a fantastic money management tool if used properly. Since everyone takes credit cards these days, I use mine for everything, pay them off every month, therefore paying no interest, and my credit cards give me ‘cash rewards’ back.
And I can’t remember the last time I used an ATM.
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Rapid Forex
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January 12th, 2012 at 6:06 pm
@Joe – if you pay them off every month and don’t pay interest, you’re right – they can be useful. Few people lack the discipline to do so, so generally it’s not good to use them. But the way you’re using them can have its advantages
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January 12th, 2012 at 3:38 pm
Brian,
Do I take that those of us that are having the Plimus gateway directly debit our monthly memberships from our bank accounts/debit cards won’t be affected and will continue as normal?
Pete
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Rapid Forex
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January 12th, 2012 at 6:05 pm
@Pete – no, it applies to debit cards as well. I’ll be in touch with alternatives soon.
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January 12th, 2012 at 4:19 pm
Hi,
Great news about the credit card companies taking charge. I wonder how many forex sites will remain online? Can’t wait to see your info regarding the Hedge Reports.
Curt
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Rapid Forex
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January 12th, 2012 at 6:04 pm
@Curt – I believe many will disappear…Hedge Report info coming soon
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January 12th, 2012 at 10:45 pm
Brian, will the hedge report technique work for beginners like me or does it require some pre-work?
Yas
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Rapid Forex
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January 13th, 2012 at 2:05 pm
@Yas – No pre-work necessary. It’ll take you about 2 hours to learn everything you need to know to spend 10 minutes or less a day on trading
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January 12th, 2012 at 11:47 pm
i have not started forex trading yet but am looking to start soon as i place aside requisite capital.
What is portfolio hedging and what hedge reports
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Rapid Forex
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January 13th, 2012 at 2:03 pm
@John – Portfolio Hedging is a form of trading that I’ve developed. The Hedge Report is the portfolio hedging strategy published on the rapid forex website. Tomorrow’s blog post will explain more about it.
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January 14th, 2012 at 12:01 am
I came across a place called tranzfers, that might work for UK, Australia and NZ – but i’d think to make it worthwhile would have to pay 3 or 4 months at a time. a fee of $8 (I think) and only a 1-3c less than the real rate.
let me know what you think.
Oanda charge $22 per payment !
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Rapid Forex
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January 14th, 2012 at 11:43 am
@Perrie – Thank you for the input. I will look into this. What do you mean by Oanada charge $22 per payment. I don’t use them…
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Rapid Forex
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January 14th, 2012 at 11:43 am
@Perrie – Thank you for the input. I will look into this. What do you mean by Oanada charge $22 per payment? I don’t use them…
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January 14th, 2012 at 3:40 pm
Oanda has the ability to pay foreign currency bills from a special account. this account has to have currency transferred from a primary trading account. but the cos tis still pretty high – unless the bill is for a jumbo jet !
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Rapid Forex
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January 14th, 2012 at 10:14 pm
@Perrie – That’s interesting…not practical with the high fee, but good to know that they offer that service.
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January 15th, 2012 at 3:39 am
Brian,
Surely there must be a way we could just give Plimus our personal bank account details ..so they can directly deduct our membership fees for you from our personal accounts?
That way we keep credit card companies, including paying by visa debit, out of all our transactions.
Or, starting it from our bank accounts and excluding any payment gateway altogether, WE could quite easily set up a monthly direct debit ourselves to directly pay into YOUR bank account if that’s easier. We do it for our utility bills etc anyway so it’s no problem at all.
I can’t see me writing a cheque and posting it off to you every month as that’s just too cumbersome.
Pete
UK
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Rapid Forex
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January 15th, 2012 at 3:48 pm
@Pete – These are good ideas. I haven’t done this yet, but am open to trying it. I will be contacting you soon with the solutions that I’ve come up with as well.
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January 18th, 2012 at 10:44 pm
Hi Brian
Have you tried Solid Trust Pay or E Forex Gold.I dont know much about this eather.I think it would be better if i could pay for at least 6 months at a time
Cheers God Bless
Nev
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Rapid Forex
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January 19th, 2012 at 5:51 pm
@Nev – I haven’t tried either. Paying for 6 months is ok. It would be $67 * 2 = $134 under the current pricing. It goes up to $97 a quarter in February. If you pay before then, you get to lock in the $67 rate. Many of the members in Australia have chosen to do this.
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