Andrew Barnett FOREX Trader, Scam or the Real Deal?

Andrew Barnett Forex Trader

There seems to be no shortage of people trying to peddle themselves as experts in helping people make money. Don’t get me wrong, there are some genuine opportunities out there but sometimes getting a little background information can help.  It can certainly help us make better decisions about different opportunities that come our way.

Here’s a guy I’ve recently heard of who’s giving free seminars about how to make money by investing money in the FOREX market. Andrew Barnett FOREX trader is currently touring the major cities in Australia trying to get people to part with their money and invest it in Forex training programs.

It is often said in this business that you are only as good as your previous business. If you’re trying to sell yourself as a credible investment guru, then a history of success would be a good way of building trust and credibility with your clients. Surely anybody can change, but a murky past is also a good way of figuring where this guy is coming from. Before becoming a member of LTG Goldrock (the company Andrew Barnett is currently working with), he was associated with another FOREX company known as Traders International.

And if you did some simple research about the guy and what happened at Traders International, you might want to pause before spending a cent.

It seems that this is clearly a case of déjà vu as Andrew and LTG Goldrock are at it again and using similar strategies that they learned at Traders International. If you’ve attended any of the free seminars that Andrew Barnett or anyone at LTG Goldrock has conducted, then you would surely be familiar with these marketing strategies. First they deliver a nice presentation and pep talk about how successful their FOREX strategy is, and how they always get their figures 80 percent correct (or whatever) all the time.

Yes, the seminars are free but once they get you convinced as to the value of their strategies, they will then try and sell you one of their training programs.

There is nothing wrong per see with education and training.  In fact we support it 100%.  But the questions you need to ask yourself are:

  1. Is Forex REALLY for me?
  2. Can I make money from Forex?
  3. Can I handle the emotional pressure?
  4. Does this program represent value for money?

There is no sure-proof way of making money in the Foreign Exchange (FOREX) market. All traders have lost money at one point or the other. Don’t believe in the hype or advertisements that promise you a sure-profit. In truth, the key is to experience a learning curve of constantly making the best decisions at the best times that we achieve the best results. Don’t be a fool or act like a headless chicken with no direction or purpose, and just keep placing bets.

We have no idea if you can use Andrew Barrett and his Forex strategies and make a dollar, or lose a lot more.

We believe in the value and virtue of educating yourself, particularly in relation to financial matters.  From that standpoint Andrew Barrett has a good message – educate yourself to maximize your results.

But understand this: Forex is NOT for the faint hearted.  Forex is also not an investment program.  In truth it is a gambling program with great potential to leverage your investment.  But leverage works both ways – on the downside you can lose money very quickly.

All a Forex trading educational program can do is lesson your risks of failure, not prevent it.  Forex trading should never be looked at as just another home business option.  It is not; it is a speculative activity, pure and simple.

On the other hand, a REAL business is NOT about gambling and speculation.  It is about having a good product with strong market potential, and a sound marketing strategy.  THAT is what home business should really be about.   Don’t delude yourself!

vFinally, to satisfy yourself, by all means check out Andrew Barrett next time his seminar program rolls into your town.  Over to you………..

  • John S

    So I was trading with LTG Goldrock. I ran an analysis on their trades and over 4 months they lost money. You can’t have an income if you lose money instead of earning it. Also their trading systems were really bad and they kept trying to improve them. I am not with them anymore. Last I heard they use robots. All FX traders know that robots are NOT the way to go as you are not in control. Also I learnt more and made more money traidng my own systems with my own indicators. I learnt all this for free. They make their money from the initial 5ooo-6000 dollars they charge clients at their seminars. I would recomment you stay away from them and save your money. Also if you see their youtube videos, there are no comments as they delete all the thousands of bad ones. You can learn better systems of FX trading for free. Fx trading is a scam because the brokers are corrupt. Many peoples lives have been ruined by it. Take care.

  • Rob da Bank

    When will people learn!

    There are very good reasons why banks trade in foreign currencies and you at home at your desk should not. Banks know what they are doing and they have been doing this for hundreds of years. You are a naive fool that is trying to shortcut your way to making yourself rich and wish to schedule a early retirement.

    A fool and his money are easily parted.

    Banks employ and have access to financial and economic experts, research, real time data feeds and have professionals with many years of experience and training behind them, guided by managers who know what they are doing!

    You also need to have a commerce and or finance degree (usual Post Grad to understand the fundamentals) and are required to get a dealers licence and pass numerpus exams to trade in foreign currencies and exchange.You start out in the back or middle office and you learn the game from the inside before you reach the front desk.

    Banks have a lot of money to play with – and yes, believe or not make heavy losses on their positions from time to time. For every winner their is a loser!

    You people are stupid if you think you can make easy money day trading – plain and simple.

  • Mark Pacey

    Having been to a lot of Andrew Barnetts seminars over the years I say stay away. From his days at Traders International where he left just after I joined to his current business he can not be trusted. And he tried to poach TI members to join his new company. He left TI in bad shape and it has now improved somewhat. He is a master salesman trust me. I have spoken to others that did follow him to Goldrock and his service was said to be aweful and results no better.

  • Sharon Beasley

    Its a scam, Andrew Barnett is nothing but a used car sales man.
    He has no education and states that he writes books. None have ever been published! He is just filling his pockets so he can turn left when he gets on planes now. That is what he has said in on of his utube.Mind you they delete all the bad comments.

  • Martin

    Joined Goldrock about 18 months ago when i first started FX trading. Signals didn’t make money for me and i started looking elsewhere for education. Even got some trader of the month recognitions with Goldrock. My advice if i was starting again. Use the internet and get as much free education as you can. If you can pay a REAL trader to coach you one on one. Realise that FX trading is really difficult and not the EASY road that some would have you believe it is. anticipate at least a 2-5 year learning experience, trade on demo as much a you can ,trade small 10 cent Lots ( pips) when you start out. There are some good courses out there that retail for a lot less than LTG.

  • greg w

    The latest sell is webinars

  • Taylors

    Though I’d join the conversation (for bordem’s sake).

    Andrew Barnett is a salesman, NOT a trader. Yes, he first started with Traders International as a senior client advisor when it was being run by Peter Elsworth (and Peter Elsworth, funny enough, left Traders International to become Chairman of LTG Goldrock, of wich Andrew Barnett is cofounder). The whole purpose of these “educational companies” is to “educate”, not show you how to make money, but show you how to recognise signals (quite often, proprietary ones, funnily enough). I joined Traders International around 2007 (I think) and got sucked into the hype (I only keep my membership (its a lifetime one) to track the signals they come up with to see if I can replicate them, so far, so good). Forex can make you a lot of money (and lose a lot), but you need to be taught by someone who makes their sole income from trading, NOT and educational company. Educational companies make their money by selling memberships and monthly access to their “trading rooms”. Their is only one person on earth who I know makes his income from trading forex, and teaches what he trades (and Switzerland’s UBS bank is one of his clients), aside from that, I trust no one else but myself. Webinars are just a sales tool used to help sell the hype, and seduce you into buying their bullshit. My only advice is come up with your own system and trade that (and don’t go touting yourself as a trading guru, as everyone reads the market differently) or find someone who makes their WHOLE income from trading, and be mentored by that person. The only forex gurus out their are the banks, waiting to take your money.

  • Mal

    I have not encountered an Australian based FOREX service that has generated so many disgruntled ex clients

    Stay the hell away if you want to preserve your capital.

    And if you are still thinking of joining suggest a visit here first:

    • Roger

      Mal says:

      August 17, 2012 at 12:06 pm

      “I have not encountered an Australian based FOREX service that has generated so many disgruntled ex clients”

      Mal, I suggest you google Business For Now (a.k.a. Fortune Plus or EQ Trading). They might even have a bigger rap sheet.

      But boy, am I lucky I came across this page before I got suckered into another forex scam.

  • Elizabeth


    Joined LTG since July this year and starting to wonder? Have not made any more money since joining. In fact I was doing better before joining. Their trade calls have not made any money for me. Infact out of 2 trades I did follow it was stopped out. Has anyone tried getting their money back? Seriously thinking about it cause the moderators in their trading rooms seems to be too unsure to call any trades. Have been day trading for 3yrs was not making big bucks before but was always in positive territory at the end of each month even if only for $10. However for the last 3months have been down every month. Can anyone tell me their experience with getting their money back?

  • Geoff

    He is a grub who will steal your money.. the company should be shut down

    • Kim Willis

      why do u say that?

  • Dmitry

    The entire results page has been deleted. Four years worth.ALL LOSING YEARS. He keeps on reinventing systems to suck in newcomers. A brilliant liar and scammer.

  • Mark

    I am a member according to his emails he was short AUD/USD for quite some time as it appeared to be tracking up. Then recently went long AUD/USD just before it started to depreciate

  • Morgan

    Stay away from this mob read this bellow please !
    What is interesting to note, after so many failed trade calls, is that LTG have appeared to have given up on trades and trading.After informing us that we all pretty much suck at the game anyway ( well, especially those of us that have followed the calls and systems of this crew over the past four years ) , Barnett now informs us we are investors.Thats right, time to get big picture, and re brand ourselves as long term currency investors. Lets forget every technical trade or robot we have been given, and lets concentrate on the fundamentals.
    For your seven odd thousand dollars, you receive insights from an uneducated, inexperienced compulsive liar .
    Surplus is good…deficit is bad.

  • bec

    Without a direct reference to LTG Goldrock or Andrew Barnett, there is a guy who writes the currency column for “Your Trading Edge” magazine. A couple of months back he stated ‘stay away from anyone that quotes that they are in the ‘World Finance top 100’, as they PAY that company to list them in that top 100. World Finance Magazine actually approached the guy from YTG to pay to be listed in the top 100 worldwide companies. LTG Goldrock consistently boast about being in the top 100 – with Google, Amazon, Apple, etc. Big call. I also see that in almost every weekly webinar over the last month or 2, Andrew consistently discusses the AUD/USD falling. It has risen from 89c to 95c (today) in the space of time.

  • John

    Just wanted to ask before I get involved with Andrew Barnett…is there anyone who’s has been a successful trader with this company ?
    I would appreciate any feed back

    • nike

      i was involved with a company TI. were i traded with andew barnett, best you spend your money on lotto,only 5% percent are successful traders, ask him two show his trading account for the last 6 months most plate forms hold this information,

    • Sandy

      Just wanted to ask before I get involved with Andrew Barnett…is there anyone who’s has been a successful trader with this company ?
      I would appreciate any feed back

  • Mike

    Id just like to say that some of the comments in this article are untrue.
    It suggests that forex trading ‘in truth’ is gambling. And that it could not be a real home business.
    In ALL business, the fundamental purpose is to buy low and sell high.
    Whether goods or services, the goal is to ‘mark it up’ for a profit.
    I know of many people making a living, ‘trading’ on Ebay.
    Is this not the same thing? Currencies are assets, just like a business, shares or real estate, or even a fridge or a washing machine. They all have a value and give some form of return to the owner.
    Trading currencies is no different.
    So in agreement with this article, yes education is essential but also make sure you hear it directly from someone who actually trades forex successfully.

  • john smith

    Check this out, many people been scammed…

  • seth

    Do not get sucked in with these scumbags……they are there to make money selling you the false hope via you dreams of you and everybody else making money from home of currency trading. I am a professional trader and whilst I do trade from home and my company, you can not / will not do it successfully in the currency / FX Market. Think about this, why would Andrew Barnet waste his time teaching you how to make money in the fx market, oh and now property investment…a bit late Andrew….but hey if you can make a fast buck out of sum uneducated people…why the hell not?
    Ltg own many many websites, domain names and companies hidden through different associations including been a financially linked to G.O markets…..another scam coming out of LTG GOLDROCK.
    CURRENCY Market is totally unregulated but they will tell you the broker that you use, is regulated and protecting you…but it doesn’t stop the banks and the brokers that DO TRADE AGAINST YOU in the currency market from cleaning you out.
    LTG has cost us 10’s of thousands of dollars and if I had let them keep going, at least another $50,000 in courses they are wanting or placing subtle pressure on you to do to becomes a professional trader
    As with most of these scum bags they sit on the fridges of the market and make there money of selling the idea to people…taking you money before it hits the markets.
    I plead you all you considering these scum bags or the fx market…Don’t.
    Andrew Barnett uses the phrases like “for you to win big & lose small”. Trading which is different to investing,it is NOT gambling and not wining or losing. It is riding the flow of the markets direction and making a profit with price going up or down (long / short positions for people that know those terms.)
    People, I know your asking well what market is honest and fair to trade? The indexes like the ftse100, S&P , DAX or the Dow Jones.
    Why… they are a bundle of in-dependant companies,
    some of the largest in the world bundled together in the form of a future or cfd contract and no one firm controls them.