Standard fx Nigeria is a one-man trading company with a website address www.standardfx.org. The man behind this is by name Samuel Kayode.
on his website, he promises to deliver a 37% profit weekly on forex trading, cryptocurrency and binary option.
If you are considering investing your hard-earned money with this guy, read my bitter experience by extension what other Nigerians have suffered from this guy.
Samuel Kayode is very aggressive with advertising his service on Punch newspaper online and WhatsApp, which makes it appear real. But the fact is that standard fx Nigeria is a scam.
What I mean by a scam is that the chance that the money you invest cannot be recovered again is high.
Please do not be deceived with his idea that you will be in control of the account because you are not in control of the trading. In other words, you own the account, he does the trading. So, you have no control over how he manages your money
What he does is this: he gambles with people’s money, if he wins, you pay him. If he loses you bear the whole risk alone.
Because he does not invest, he trades as he likes, which you will end up losing. You may be asking how he makes his money.
As I rightly said, a lot of Nigerians fall prey to his ads, so if he loses or blows your money away, he gains from others that he is lucky to win.
Please take note, I am not standardfx competitor rather I was a victim, and I will not like other Nigerians to fall same.
I have a good idea of how forex works. In fact, I trade to some extent, but when I saw his advert I thought he knew something different. So, I decided to try him but it was a flop.
My real story with standardfx.org.
The blog you are reading from is my personal blog. So, you can know more about me from the “about me” section of the blog.
I invested $600 in my forex trading account then ask standardfx.org to manage it for me. After 2 weeks he made a profit of $1400.
He then asks for his share, which was 50%, And I withdrew his share and gave to him. I left $1000 for him to continue with.
The next week he blew the account away leaving just $38. I called him, he promised of making it up with time.
He started trading with the $38 and took it to $70, after 3 days he blew away the account to $8.
I started calling him but he refused to pick my calls. Then I sent him a thought-provoking text message, which made him picked my call.
I was very polite in talking to him about his trading pattern and level of risk-taking. then went to ask him some question, it was then I realized that he knew nothing about forex trading.
I told him to learn how to trade the candlestick pattern that it works. To my greatest surprise, he asked what candlestick pattern is.
In fact, most armature traders start with candlestick and chart pattern. Then I went on to ask him how does he determine his risk-reward ratio, has no answer to that.
It became glaring that this guy with standardfx.org Nigeria is just gambling with Nigerians money because no system to hold him accountable.
Forex is a good business but it is not a get rich quick business as somebody like Samuel Kayode claimed to be.
So, don’t even consider investing with standardFx.org because you will finally and definitely lose your hard-earned money as I did.