By: Brian Garvin
Submitted: 2008-07-04 10:35:16 | Word Count: 527
Freedom Rocks is a company which combines Multi Level Marketing and Forex investments. The company offers members a chance to make money by recruiting other members into the program while generating returns in the FOREX (foreign exchange) market as well.
Mark Vincellette is the founder and President of Freedom Rocks. He created the original Freedom Rocks formula to trade mutual funds and stocks during the 1980s. While pursuing a career as an IT professional and management consultant, he worked on trading his personal portfolio on the side. On July 1, 2002 he launched a program that would later become Freedom Rocks. In 2004 he modified this program so that the system could be used in the FOREX trading market.
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Freedom Rocks Inc. began on January 1, 2005. At first, Freedom Rocks used a stock market and mutual fund trading system but it was replaced on November 1, 2005 by the current Wealth Builder (FOREX) program.
Freedom Rocks teaches its members how to use proprietary software which allows them to set up their own trading accounts (with a brokerage of their preference) to enable currency trading rather than teaching people how to trade foreign currencies.
The Freedom Rocks trading system allows members to generate revenue in three ways. The first way gives members access to the Freedom Rocks website where they can log in to their Portfolio Manager and Portfolio Allocator. Using these tools, members can learn which currency pairs are planned to trade against one another, how much money is going to be invested and how much risk the company is willing to take. This gives predetermined price points which are entered into the Freedom Rocks brokerage account software. Accounts are then set to an “automatically trigger” setting which allows for trades to be made based on whether the member wants to buy or sell a certain number of lots (shares) for each currency pair.
The second way members can make a profit is through passively collecting daily interest. Freedom Rocks earns money through the difference in interest between the currencies set by various countries’ central banks. This is referred to as “carry trade investing”. When a member sets up their portfolio the right way, they will be paid daily interest on the money that they control.
The third way to earn money with Freedom Rocks is through leveraging. This means that for every dollar a member places in the market they can control up to $400.00 in the open currency market depending on their risk tolerance. Members can leverage up to 400 .
Before beginning with Freedom Rocks, members can practice with a demo trading account. Bonuses are also available at Freedom Rocks and include a new enrollee bonus, a one time $75 referral bonus for every new customer or Active Sales Representative a member sponsors. Other bonuses offered by Freedom Rocks are the residual bonus, matching bonus, and car bonus.
Freedom Rocks is now out of business. Like a lot of companies that offer this type of opportunity, they started out with the best of intentions, and members got paid for a long time, but eventually the bubble just burst, and there s nothing anyone can do about it but go on to the next flavor.
