Freedom Rock Inc. Pyramid Scam

Hungary's financial market regulator PSzÃ?F on Monday said it reported Freedom Rocks Inc, a US-based distributor of software for forex trading, to the police on suspicion of organizing a pyramid scheme. PSzÃ?F said an investigation it carried out established that Freedom Rock's activities cannot be classified as investment services or the intermediation of such services, but it still warned potential clients of attached risks.PSzÃ?F warned that neither Freedom Rocks nor the brokerages it recommends fall under PSzÃ?F's regulatory powers. Neither are members of Hungary's National Deposit Protection Fund or Investment Protection Fund. Because they are all based abroad, legal recourse may not be taken in Hungary, PSzÃ?F added.Information distributed about Freedom Rocks puts special emphasis on network-building, namely recommending the company's products to other clients, while it fails to draw attention to the additional financial risks related to FX trading, PSzÃ?F said.
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11 comments
#240772

"highly respected MLM attorneys "

Come on Joe, do you know how funny that sounds?

#141520

Now, if you do some online searches for Freedom Rocks or the CEO Mark Vincellette, you will start to notice a trend. They are going on to forum after forum making claims, and pretending to ask questions.

They have people who go into forums pretending to ask for advice about the system. These same posters will claim that they are making a good deal of money, but want to know how others are doing with the system. The posts are pretty blatant ads for the company and they are uniform amongst the many forums in which they are posted. Be very careful if you see anything about Freedom Rocks.

They have this habit of getting you to fill out an online capture page that tells you nothing about their company, and then they swamp you with emails. Forex is a very dangerous business.

#141518

This system is only profitable from a multi-level marketing (MLM) standpoint, preying on people who have little knowledge of the Forex market. People are finally seeing what a scam Freedom rocks is as members are cancelling left and right!

There organization has lost hundreds of members costing the top level up line thousands of dollars in bonuses. But the organization will never admit this as they only report positive information while burying anything remotely critical no matter how factual.

Freedom Rocks is a risky and dangerous gamblepromoted by a man (Mark Vincellette) who lacks integrity. -former member

#138317

A forex (or foreign exchange) scam is any trading scheme used to defraud traders by convincing them that they can expect to gain a high profit by trading in the foreign exchange market. According to the New York Times, "the market has long been plagued by swindlers preying on the gullible,".

These scams might include churning of customer accounts for the purpose of generating commissions, selling software that is supposed to guide the customer to large profits, improperly managed "managed accounts", false advertising, Ponzi schemes and outright fraud. By definition, Freedom Rocks is a scam.

#136500

Mark Vincellette, the President/CEO of Freedom Rocks Inc., does not follow his own investment advice. He doesn't even use his own forex software to trade.

Freedom Rocks Inc. is a scam.

#135436

In my opinion, Mark Vincellette, the president of Freedom Rocks Inc., lacks any integrity. He is an actor and a *** man trying to make a quick buck.

The business is a lie. Mark Vincellette and his independent representatives claim to help people invest their money in the Forex Exchange Market but their software is flawed and everybody loses money.

#134040

Bob, If your statement was true then there wouldn't be a lawsuit being prepared against Freedom Rocks Inc. for their involvement in the One World Forex collapse.

I'm not a member of Freedom Rocks and do not have a special interest in the company. Freedom Rock members are network marketers that make money by referrals. Hungary's Market Regulator has already established Freedom Rock's activities cannot be classified as investment services or the intermediation of such services.

I'm interested in how businesses like Freedom Rocks will perform when more regulation is put into place. Hungary's Market Regulator was just the first to catch on to this kind of network marketing scheme.

#134032

Joe there are many forex scams on the internet these days. The North American Securities Administrators Association says that "off-exchange forex trading by retail investors is at best extremely risky, and at worst, outright fraud." Selling Forex software that is supposed to guide customers to large profits are scams.

It is false advertising. Hungary's Market regulator conducted an investigation that found Freedom Rocks activities cannot be classified as investment services or the intermediation of such services, so what kind of services do they really offer? The U.S.

Commodity Futures Trading Commission (CFTC) loosely regulates the foreign exchange market in the United States. Because of the growing fraud in the foreign exchange market, CFTC has set up a special task force and proposed new rules for limiting leverage to 10 to 1.

#133917

FreedomRocks recently put up a "Legal Corner" on its corporate website. It's an opinion letter from Gerald Nehra - one of the most highly respected MLM attorneys in America - and also FreedomRocks primary legal counselor.

After reading that, there will be very little doubt FreedomRocks is one of the good guys. I'm proud to be a member.

#133910

Mike, your facts are a bit mixed up. One World was an NFA-regulated broker that dozens of groups recommended.

I personally got 2 e-mails (one from FreedomRocks, and one from MVIB LLC) alerting me of a report the NFA had filed against One World. Thanks to those notes, I (and several of my fellow investors) got all our money out before the brokerage collapsed.

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