How do I know this?
1. The company’s spokesman is none other than James Dicks, the “founder” of 4xMadeEasy. Be sure to read the Wikipedia entry on this guy.
2. On the surface the programs are essentially the same. When Dicks talks about Premier Trade, however, he doesn’t talk about “big lights”. Nope. He talks about colored red, yellow, and green charts. No doubt Dicks has had to dumb the program down because too many clients are having difficulty understanding signals designed to mimmick street lights. You know - green for go (buy), yellow for caution (sit on your fanny), red for stop (sell).
Now, here's the inside poop on the programming behind Premier Trade. Open a demo account with any dealer and draw a jagged diagonal line from the lower left corner to the upper right. Color the space above this line green and the space below the line red. Now imagine a 5-10 pip space on both sides of the trading line that's colored yellow. Buy when the currency goes into the green. Sell when it goes into the red. That's the entire program in a nutshell.
3. Both programs make Forex trading sound like something you can do standing on your head. If you believe that, well, you'd be better off getting back on the turnip truck.
4. Both make appeals to retirees who are the ones who stand to lose the most because most can't afford to lose money.
5. Their products and services are grossly overpriced.
If you want to know about Premier Trade, you only need to know about 4xMadeEasy. A ripoff by any other name is still a ripoff. In this case, it might be more appropriate to say 4xMadeEasy by any name is still 4xMadeEasy.
Recommended Additional Reading
Think You've Been Trading the Forex? Think Again
Advantages and Disadvantages of Non-Dealing Desk Trading
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