Jamaica-We’ve written three posts on online forex trading in Jamaica and the Caribbean and by far they represent 3 of the most read posts on SiliconCaribe. As a result of that we’ve been send a lot of information on fxtrader personalities, investment clubs, self taught traders and trading platform companies positioning themselves for the Jamaican market.
What we heard of recently. Investment Clubs. There is f1investments which is a group of Jamaican pilots some based locally and others in Dubai, they put in their own cash as well as accept members and submit the money to Olint trade on their behalf. I know someone who’s been with them for 4 months and they’ve been averaging a monthly return of 9%.
Then there is DeArgent (spelling dubious) which was around just after Olint started making the headlines. They are traders and also submit monies to Olint. Their investment rules are that a member is to keep their money invested for a minimum of 6 months, you can start with a US$1,000 minimum and their guaranteed monthly return is 5%. Then there is WorldWise, which you can start with as little as US$600 and the promise a monthly guaranteed return of 12% per month. And there are other individuals who are simply creating sub accounts under their name and take a percentage of the money earned on the account. Again easy money.
The trend towards investment clubs but not becoming a trader. The trend we’ve noticed in the information we’ve been collecting, is that Jamaicans prefer to learn about the online trading process, so they understand what traders do, become more aware of the market and how it works, but in the end, they prefer to hand out their US cash to trained and qualified trader. In the end they prefer to sit back and collect, than learn to trade, then sit and stress daily.
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