A list of all scam unregulated 3rd party educational vendors

Hmm I suggest you look into the history of this website and the owner before taking anything there serious.



Quote from Steven.Davis:

Oh, there is another site that has some trading companies reported:
http://www.ripoffreport.com/

If you do a little looking you will find some of the products that we use today were once categorized as rip-off deals.
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Make sure you put Winborntraders.com on top of that list. I just checked the results page, it's a complete lie and a straight out scam. Besides lying on the fills which was proven here on multiple occasions, they only show gross results before commissions and they exclude break even trades. If you take the result they show for the month of November:

Total: 8 ES pts
Number of trades: 136

Well in fact, you add the break even trades - quite a few -and subtract the commisions for a total net LOSS of more than $350. Not the +8pts they announce. If that is not the ultimest scam...
 
Quote from pspr:

Why don't you just list the few that are not scams. That way the list will be short and you won't risk being sued.
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nobody is going to sue. u will learn more from the negative experiences of other people.
 
I think I can top those. Mike Baghdady of Training Traders has aired a TV ad on Bloomberg and CNBC (probably only in Europe) where amongst other things he has claimed to the World Trading Champion 2009. Of course no such title exists but that doesnt worry him. He also claimed in the ad to have trained a hedge fund manager but it turns out the guy in the ad works for him and the hedge fund doesnt exist.

He is now promoting something called the New Turtle Traders where he claims to be backing 10 new traders to the value of a million pounds. He has apparently had 10,000 applicants from the general public who assume he is some sort of trading tycoon doing them all a great favour.

Unfortunately though he is not a trading tycoon and is in fact filing for bankruptcy. In an affadavit filed with the court he has declared that he makes no income from trading, just from training courses.

None of these guys selling courses or software are making money trading their own systems, they are just marketing this stuff to gullible people who are desperate for the latest get rich quick scam. People fall for these things without doing any background checks, they are blinded by greed and dont want to hear anything that spoils it.
 
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