A 20-year-old Plymouth medical student says he has earned £110,000 in a month after trading on in foreign currencies.
Gurvin Singh, in his third year at the University of Plymouth, began tading on the Foreign Exchange (Forex) Market a year ago and has already made so much cash he has splashed out on designer gear and SEVEN luxury cars.
He’s also now employing nine freelancers to handle his admin and social media accounts as he builds a business and diversifies into Airbnb and dropshipping.
Mr Singh, who says he is from a working class London family, recently dipped into his pocket to spend £30,000 on a 2015 Maserati Ghibli, and a further £12,000 to have it wrapped, turning it from silver grey to rose gold.
It is one of three cars the 20-year-old currently owns, sitting beside a £22,000 Mercedes-Benz S-Class and a £13,000 Jaguar.
During the past year he’s also bought and sold an Audi A5, an Audi A1, and a £10,000 BMW 7 Series with “massaging seats”, and a 6 Series too.
“I’ve had a lot of cars,” he said. “But the Maserati is the one I want to keep. It was between it and a Porche, but it was a bit different and I fell in love with it.”
Mr Singh has also given away more than £20,000 to random strangers via Instagram. He’s currently offering five prizes of £1,000 each and said all they have to do is repost an image of the story about him onto their Instagram and tag him, and then repost into their own Instagram story for one entry, or feed for five entries. Then they have to tag a friend to do the same thing.
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He will chose the winners himself and, if they live near Plymouth, meet them to give them the prize personally.
Mr Singh is doing this to mark the publication of his e-book on how to make money from dropshipping, which is being released on Sunday, November 24, 2019.
The first winner will receive £1,000 the following day (Monday, November 25, 2019), and four others will be handed the same sum at roughly three-weekly intervals.
“I feel the need to give back and help people,” he said. “I do this all the time, sometime a few hundreds of pounds at a time, it grows my Instagram and it’s the best way to engage followers.”
Mr Singh made his fortune trading Forex and then setting up a company to train people in how to make cash on the currency exchanges.
He was just 19 when he began his endeavours as a way to fund his studies at the University of Plymouth.
He started out with just £100 but soon had enough money to splurge on expensive clothes and trainers.
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He did this by “swapping” foreign currencies. Working through a broker he invested in the US$5trillion global currency market and was soon reaping lucrative returns.
Mr Singh, under the handle @gs_3 now has 125,000 Instagram followers and has set up his own company, gs3 Marketing, and website, www.gs3teaches.com, which trains people how to make a mint from the Forex market.
He charges for tutorials but says his students are then free and empowered to set up their own Forex trading platforms and start making cash.
In October 2019 he launched gs3 Academy and courses in how to profit from property and Airbnb, and dropshipping.
That all accounts for £75,000 of his October 2019 income, with up to £30,000 coming from the Forex swaps.
Know your trading
Forex - This is the market where foreign currencies are traded or swapped. It is a huge and mercurial business and involves currencies from all over the globe. The buying and selling of currencies in this decentralized global market is determined by whether markets go up or down and traders make decisions based on these movements.
Cryptocurrrencies – These are digital assets designed to work as a medium exchange that uses cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Cryptocurrencies are decentralised and exchanges allow customers to trade cryptocurrencies for other assets, such as conventional money or other digital currencies.
Dropshipping – This is a supply chain management method in which the retailer does not keep goods in stock but instead transfers customer orders and shipment details to either the manufacturer, another retailer, or a wholesaler, who then ships the goods directly to the customer. In effect, the dropshipper is a middle-man, typically a website, and makes a profit on the difference between the wholesale and retail price. Some retailers earn an agreed percentage of the sales in commission, paid by the wholesaler. Dropshipping has also been targeted by scammers.
“Even on a bad month I can make £15,000 on Forex,” he said. “I’m hoping that by the time I’m 21 I will be a millionaire.”
Mr Singh is studying bio-sciences but has a dream of becoming a doctor, planning to jump onto a four-year medical degree.
But to do so he will need to fund further study in order to avoid running up huge debts and discovered Forex trading and how lucrative it can be.
He took online courses, before delving into the market which, though uncentralised and parially unregulated, is legitimate, with huge banks being the main players in what has become the world’s largest marketplace. Simply put, traders buy and sell currencies as they rise and fall in value.
The practice, with its promise of huge earnings, has attracted some scammers, but Mr Singh stressed that what he is doing is above board and said money is invested with the company, not himself. He explained he teaches people to trade and set up their own trading companies.
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Mr Singh is now expanding his training courses, teaching how to make cash from dropshipping, effectively setting up online shops. He’s just penned an e-book on the subject.
But he still intends to follow a Hippocratic pathway, and said: “I’ve always wanted to be a doctor. So why stop, even if I have made money?
“I’ve worked hard since I was 10, achieving high grades, so why sack it off?”