London Stone Trading Review

| March 25, 2011 | 13 Replies

Product Name: London Stone Trading

Company Name & Contact Details:
London Stone Trading Ltd
Clements House
27-28 Clements Lane
London
EC4N 7AE
Tel: 020 3207 9412
Email: info@londonstonetrading.com

Price: £2937.99 (+ VAT)

What Do You Get?

• A minimum of 4 months bespoke one-to-one mentoring and trading training
• Access to  remote trading floor from 07:00 to 21:00 every working day
• Trading software
• Ability to trade company funds
• Access to academic training programme�
• Daily market reviews, trade setups and news analysis

Where To Buy: http://www.londonstonetrading.com/categories/home

Brief Summary:

London Stone Trading is a trading training center, training you for a future career as a trader. You can train with them from home at any time that suits you, and you train with their account so you don’t lose anything, whilst at the same time earning money from any profitable trades you make whilst training.

What’s It All About?

This is a four month training course which is designed to give the trainee sufficient knowledge and competence to produce a 10% gain on a demo account. 

Provided this gain is achieved within the sixteen week timescale the company will then move the trainee onto a company funded live account.

After this the idea is that the trainee grows the account each month and the company will then add further funds. 

The power of leverage and compound interest will thus ensure the returns on the account become larger and larger. The trainee is not liable for any losses.

There are no fixed profit targets or fixed amount of time to be spent trading so traders can work whenever they wish to.

Do I Need Experience To Make This Work?

The company states that they can train complete beginners but I feel that this would be somewhat of a learning curve for complete beginners who also hold a full-time job.

It is helpful to have a little knowledge of the Forex markets and the basic technicalities of actually placing a trade.

How Much Money Do I Need To Get Started?

The training fee covers all tuition fees and platform software but there are no further costs.

How Much Money Can I Make?

This would depend on the amount of time spent trading the systems so therefore is totally variable.

The company pays commission on a sliding scale starting with 50% of profits made. Commission is increased at set points as the account becomes larger.

How Much Time Will I Need To Make This Work?

A fair amount of time is needed to work through all the training modules and to study the various strategies.

The company encourages plenty of practice on the demo account so that you can test and adapt the strategies and therefore gain proficiency and confidence.

Will I Need Any Equipment To Do This?

A computer running Windows operating system. Microsoft Office or similar to run Excel spreadsheets.

Value For Money?

This is most definitely value for money as it is a fully comprehensive training course incorporating all aspects of successful Forex trading. 

Yes it is expensive but the fee ensures that only committed students will enrol. 

London Stone delivers what you have paid for with ongoing training and strategies which they will help to tailor to your risk tolerance and your lifestyle taking into account the times when you are available for trading. 

There is strong encouragement to fit your trading round your life and not the other way round.

Before commencement of training contracts are exchanged setting out clearly what is provided and a questionnaire is completed so that London Stone can assess your experience and temperament and decide which mentor is the most suitable.

The online Trading Academy lessons are clearly set out with a combination of text and videos and no irrelevant “filler”.

There are a variety of strategies for differing market conditions and the mentors will work with you to ensure that you use the most suitable ones for you and to adapt them to your preferred trading style. 

These strategies are in fact the ones that the professional traders use and all the necessary London Stone indicators and spreadsheets are provided. 

Some strategies are more complicated than others but they encourage you to start with the basics and then work your way through more advanced spreadsheets as confidence increases.

The FXCM software platform which is provided is good and there are several videos on the technicalities of setting up charts and indicators etc.

The importance of sound money management is stressed throughout with explanatory videos and relevant risk management spreadsheets provided to ensure that there is no overtrading to blow the account. 2% risk is recommended.

The mentoring on the trading floor is first-class with as much tuition and advice as you want together with explanations and screenshots of the trades which they are taking themselves.

Does It Live Up To The Claims In The Promotion?

Yes the claims in the promotion are correct.  After a couple of weeks training when I  had increased my demo account by 10% they instantly provided a company funded live account of £1,270. The aim now is for me to make a monthly increase on the account and then they will also increase it.

The ultimate goal is for their trainees to have a sufficiently large account to both grow and to draw an income from.

Quality Of Customer Service:

The customer service is excellent with any question or email being answered immediately.

The real test of customer service is not so much the answer of routine questions but the response when something goes wrong. 

When FXCM made mistakes in setting up my live account London Stone’s M.D. instantly sorted it out with them the same day and the next day FXCM had my account up and running.

This was impressive.

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Tags:

Category: Mentoring services, Trading & Investing

Comments (13)

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  1. London Stone says:

    Why pay for and use ridiculous, unproven and non profitable systems when you can quite easily learn for yourself? Learn at a time and place to suit you from our real and credible and traders who trade substantial retail and corporate funds all day every day through our FSA regulated London based wealth management company. We are so confident we can teach you to be profitable that you will trade live with a company funded account, you are not liable for any losses and there are no restrictions on when you can trade, nor any profit targets. We are so confident in our teaching that you can even pay the training fee monthly and as soon as you go live you can pay your training fee from your trading profits!

    http://www.londonstonetrading.com

    Holy grails DO NOT exist, learn from us how to trade like real city traders do.

  2. CHarper says:

    I’ve just spoken to someone at London Stone Trading about becoming a proprietary trader. He advised that using my saving to pay for the course probably wasn’t the best way to go about things, apparently it takes a couple of months to complete their academic/training course. Seems like they are keen to keep their trainees on their books and make return of profits there rather than just taking my money and running. Refreshing for me, but probably not right for you if just want to get rich quick.

  3. student says:

    Contacted London Stone and was told that they had been training for five and a half years and had never had a trainee who who had failed to go live after the training course. Unfortunately he did not know the number of trainees.

    Apparently you can pay the course fee monthly and then the remainder of the fee from trading profits.

    As every trader will have losing streaks I asked whether the trader would be fired if they lost the company money but did not get a clear answer.

  4. Cris says:

    I’ve just signed up to start this month, I’ll keep you posted. Oh and BTW, anyone know more about their Global Trader Network? Community/forums/news etc specificiallly for traders?

  5. London Stone says:

    To celebrate the launch of the London Stone Global Trader Network we’re offering a lifetime 25% off for all subscribers during the first week of the launch.

    You will get:

    • Real-time LIVE news direct from our FSA regulated, London-based wealth management company

    • Global 24/7 mass trader collaborative and interactive digital trading floor, share charts and pictures instantly in one click

    • Find, join or create trading groups of like-minded traders. Create a following of people subscribing to your trade signals.

    And much, much more…

    Find out more today at http://www.londonstonetrading.com/categories/global-trader-network and claim your discount before it expires.

    Or Google London Stone Global Trader Network

  6. Student says:

    I have started this four month course and will post a review upon completion.

  7. Ben says:

    My experience with London Stone has been first class. I spent the best part of 6 months trying to find the right organisation that could take me under their wing and teach me how to trade. Before joining London Stone I attended multiple seminars and spoke with a host of companies, most of whom promised my world would change if I purchased their special training DVD or 1 day training package.
    Safe in the knowledge that nothing truly great ever comes that easy (or cheap), I wanted to ensure my investment would provide me with professional training and put me in touch with real city traders, with proven credibility, who are actively involved in the markets. I wanted to see what made them successful and directly learn the skills to be successful at trading myself.
    Day 1 I received access to their online training academy which is excellent – It’s not too heavy and has a blend of text, graphic and video tutorials that you can access on demand 24/7. I found this to be a really useful starting point where I could learn at my own pace and get a grip on the basics. My learning and knowledge however really accelerated when I logged into the London Stones remote trading floor which is also available from Day 1. This is priceless and where you can interact with the actual London Stone traders every day. From the remote training floor you can see exactly what trades they are placing as it happens live and understand why sometimes you should not be trading at all. Whilst you are given a dedicated mentor (a real city trader dedicated to help support you) the whole London Stone team pitches in to help assist you with your trading development and are a real friendly bunch.
    In summary London Stone continues to deliver beyond my expectations and I am now on my way to realising my dream to become a professional trader…and a profitable one at that. Good luck with your trading journey and I hope you have found this useful.

  8. johnner says:

    site has disappeared?

  9. followNev says:

    the site went down due to technical problems with the servers.
    I have been a trainee for a couple of weeks since the beginning of August on the proprietary trader course. Though the course is not necessarily a one to one course, you do get access to a mentor who helps out a lot.

    From my experience so far, you are given the reading material and an FXCM demo account (set up by LST). You go through the step by step course and learn about the custom indicators and strategies.

    Having started trading my demo account using their suggested strategies and indicators if I have any further questions I can access my mentor directly , plus ask an open question to the trading floor which is then answered by one or more traders.

    The strategies themselves are clear and concise and for want of a better word ‘basic’. However, I have come to realise that they have only shown me the fundamentals or initial foundations. As you delve a little deeper they encourage you to adapt the core strategies to suit your style of trading and personality.

    I’ve read a lot of books and I have sourced as much online content as I can to give me a heads up on what trading is all about. All of it has been useful but not anywhere as useful as being able to ask a question to someone who is 1. A good trader , 2. Knowledgeable about current market conditions and 3. An approachable , professional, interesting person(s).

    The key is to go live and you do that by demonstrating that you can trade upwards of 10% of a given balance. I’m still learning and hope to be a live trader sooner rather than later. I can let you all know how I get on if you email me at iamnev[@]gmail.com (i’ve put spaces in the email address to ward off any crawling bots out there)

    Good luck all

  10. cunningstunt says:

    So im just over the two week mark of this course and so far – it does exactly what is says on the tin and some more!

    I was, at the start, a little worried about handing over the money to someone i had never met before but they do also offer a monthly payment scheme – so i opted for this and the first payment is £881. I was given a start date well before i paid the money and true to their word my log in details arrived on that day, as well as my trading platform details – 2 days ahead of schedule – from there you have unlimited access to the Remote Trading floor and your mentor between 0700 and 2100 hrs which if like me your doing this around a full time job is great because you can get the answers to your questions around your job. Quite often they will take you into a private room on the Remote Trading floor and offer 1-2-1 mentoring, which works really well when there is something you can’t quite grasp or want some confirmation on.

    You get access to the web site and all its content as and when you like and it is delivered in an easy to understand yet thorough format and it is there to watch and read as and when you like – time after time should you choose too.

    I entered this course with basic knowledge from books and the web and understood the terminology and within two weeks im on the verge of going live – as explained by Nev above who I have seen on the Remote Trading floor – and have not looked back since starting the course.

    The guy in Charge is Dean Withey, the brains behind the operation, apparently!!:-). He is a top bloke, full of relevant information regarding trading and current market situations and a wealth of information around the mechanics of trading. He has a great sense of humour, as do the other mentors and you will see this on the remote trading floor – just like all the other mentors he too is there to help.

    You are required to do some work of your own and use your common sense a little bit but the goal of this course, for me, is to become o professional trader and i will never get there being spoon fed and you must learn from your mistakes.

    SO – less all this rambling, the answers to questions you probably want to know.

    Is it a scam? NO – its good value for money.

    Is it worth it? Big time. Once you pay your initial £881 you can use the profits you make trading to pay the rest of the course fee, they do this because they know they are good and know that you WILL make money doing this.

    AM i employed by London Stone to write good reviews? NO – but i am off my own back because im so happy with it so far, and trading is closed on a Sunday!!

    Will you see me on the Remote Trading Floor? Yes – and you cant miss my screen name – its the same as this one!!

    Why should i join London Stone? Because compared to the competition who offer a huge array of smoke and mirrors, over enthusiastic sales pitches to get your cash and no affiliation with the FSA these guys are genuine and you will speak to the same people when you first call as you will be trained by – not a dodgy recruitment consultant who just wants a commission on your fees!!

    How quickly will i learn? Depends on you really, i found the course content and the Remote Trading floor almost addictive so i have spent a lot of time there. What i will say is that you are PAYING for your training, dont sign up and never use it or be too shy to ask a question – get your moneys worth, I am!!

    Are they professional? Yes, contracts are signed and exchanged well before money is exchanged, your assessed to see what kind of trading and which mentor suits you best based on your time availability, personality and what you want from trading.

    Will i be able to buy a Ferrari after a week? NO – if this is your plan than you may want to spend £881 on lottery tickets, when that fails invest your next £881 into London stone and you will see you wasted the first £881.

    What else can i get in this industry for £881? Laughed at, some books that will tell you all about trading but not show you how to do it or a very small live account with a broker who knows they will in the not so distant future be spending your money.

    Are there any negatives? Not really no, you need a fair amount of IT knowledge but they will help you where you need it. You need a good computer that can handle many tasks at once and a girlfriend unlike mine who wont moan at you when you get hooked to it!!!

    Seriously though, if you are serious about a career or income top up within investments then you need to realise that you must speculate to accumulate and no one is going to teach you what they know for free – time costs money after all. I made this my first investment and im not looking back.

    Feel free to e mail me DELETED BY MODERATOR – DO NOT PUT YOUR EMAIL IN THE PUBLIC DOMAIN. CONTACT MMR IF YOU WISH TO SPEAK TO THIS POSTER
    Happy Hunting.

  11. onjoy says:

    Dear MMR I would like to contact cunningstunt about London Stone. Please email me his contact details.

    Thank you.

  12. fx13 says:

    Dear MMR I would also like to contact cunningstunt about London Stone. Please email me his contact details.

    Thank you.

  13. fx13 says:

    Dear MMR I would also like the email contact details for followNev to discuss his progress with London Stone
    Thank you.

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