Forex Mentor is an outrageous fraud. The company was founded by a former futures broker with a very shady past of selling get rich quick, Forex trading educational programs. After 5 separate CFTC reparations cases alleging financial fraud, and 3 NFA violations and fines totaling nearly $300,000, he finally left the futures brokerage business in 2013.
But the supposed educational programs and private mentoring continues to be sold. A hotbed of “get rich quick” Forex trading indicators and magical trading methods. The marketing showpiece is a supposed professional trader named Shirley Hudson. She provides a spreadsheet of “100% real trades” as marketing bait. The spreadsheet contains nearly 7 years of non-stop, continuous winning day trades. Pure marketing chicanery. It turns out that Shirley Hudson is nothing more than a hardscrabble Realtor operating out of Washington State.
The most damning testimony to this ongoing fraud comes from a former “trading mentor” that worked for TradingMentor.com.
Thanks for reading today’s review of Forex Mentor
Forex Mentor is a day and swing trading educational service. The company was founded by Peter Bain, a self-described professional forex trader, and former Forex broker. As per Archive.Org, it appears that Forex Mentor began offering Forex educational products beginning in late 2002.
Of the past 15 years, Forex Mentor has marketed dozens of “get rich quick” Forex trading educational products. Currently, there are over 20 educational products for sale on the website. To list each product would be mundane. To give you a prime example of the marketing hype, I have included the flagship product titled “The Big Dog Currency Trading System”.
Concurrently, while offering a virtual flea market of “get rich quick” Forex trading educational products…Peter Bain was also running a Forex trading brokerage named FX Solutions.
As per the NFA, or National Futures Association, the Forex trading brokerage known as FX Solutions was hit with 5 CFTC reparations cases that alleged fraud and malfeasance.
In addition, the NFA also sanctioned FX Solutions on three separate occasions:
Under this cloud of suspicion, constant consumer complaints, and continued regulatory hassles…Peter Bain finally threw in the towel on the Forex brokerage business. The brokerage shut down and accounts were transferred to Gain Capital sometime in 2013.
But the educational business still remains active.
Forex Mentor: Do these mentors even trade?
Over the years, it appears that Forex Mentor has cycled through various individuals that the company touts as professional Forex mentors. Pay a fee, and these persons will teach you the supposed secrets of Forex trading. Currently, the main promotional “professional trading mentors” appear to be Vic Noble and Shirley Hudson.
Since 2015, TradingSchools.Org has received 14 requests to review Forex Mentor.
During the month of May 2017, TradingSchools.Org reached out directly to Vic Noble in an attempt to verify his claims of being a “Full-Time Professional Forex Trader” as he claims on both ForexMentor.com as well as ForexTradingAndEducation.com. Vic Noble refused to be interviewed, and he refused to provide any information regarding his supposed claims of being a full-time professional Forex trader. About the only thing we know for sure about Vic is that he apparently used to a broker registered in Canada. There are no official registrations for Vic Noble in the United States.
The next, and most highly touted trading mentor is a person named Shirley Hudson, living in Washington state. In fact, her supposed trading performance serves as the marketing centerpiece of the Forex Mentor family of trading products. Her supposed track record is something quite fantastic, or fantastical…ForexMentorTradingResults
If you took a moment to look at this, you were probably quite shocked. Since 2010, hardly ever a loss! And Shirley swears that its all 100% true and verifiable!
You would think, that with such amazing trading riches, and a track record that would make Warren Buffet blush, that Shirley would be retired and living the good life. Eating from a never ending feast of shrimp and lobster tails. Lounging by the pool, drinking exotic mixers and feeding her french poodle only the finest caviar.
Heck, I would be living the good life. Wouldn’t you?
A closer look at ‘Forex Mentor’ Shirley Hudson
A quick search on Google for Shirley Hudson revealed that Shirley isn’t really a ‘full-time professional day trader’, as she claims. She is actually just a Realtor for Windermere Real Estate. You can easily find her website at ShirleyHudson.com.
TradingSchools.Org contacted the local Windermere real estate office in which she is based. We asked if anyone was aware that Shirley was also a ‘full-time professional day trader’? The office manager was confused and had never heard of this activity. They recommended that I contact Shirley directly on her cell phone, which we did.
Shirley promptly picked up the telephone, as she must have thought that I might have wanted to hire her as a realtor. I told her that I was confused, why is she selling real estate and hustling to make a buck when her trading track record reveals that she is one the most profitable traders on planet earth? Our conversation quickly went downhill. She then refused to speak with me further and requested that I contact Vic Noble about the supposed returns on investment.
Of course, neither Shirley Hudson nor Vic Noble will speak with me further about verifying these amazing returns on investment. Typical con artists.
Wrapping Things Up
What is absolutely nutty about this situation is that Shirley is willing to vociferously claim that these investment returns are 100% authentic. Without the prerequisite disclaimers, if these results turn out to be fraudulent…then Trading Mentor, Vic Noble and Shirley Hudson are looking at a minimum of civil fraud. Perhaps criminal wire and mail fraud.
Thanks for reading. And if you have ever had any experience with TradingMentor.com, I would love to read about your experience.