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A list of all scam unregulated 3rd party educational vendors
- Thread starter emg
- Start date
Updated List
Rockwell trading
TraderInternational
DayTradeToWin
eMiniDayTrader.com
nexgen
priceactionroom.com
eminitradingcourse.com
blackjacktrader.com
Millenium-Traders
tradingonlinemadeeasy.com
easyeminitrade.com
vantagepointsoftwares.info
winborntraders.com
Mike Baghdady of Training Traders
http://www.3minutetrader.com/alerts/
http://www.2stocktrading.com/index.php
http://www.killingstocks.com/
bill duryea of ioamt.com
Rhythm of the Markets
Options Magic
TradQuest Systems
eminijunkie.com
Dave Wright "Wave Rider/Trend Catcher"
Bullseyetraders (Franz Shoar)
ShadowTraders (not the TDAmeritrade)
School of Trade SOT
http://www.james16group.us/
http://www.neweratrader.com/
ktrader.com Oliver Velez and Greg Capra, founders of Pristine.com and Mastertrader.com,iFundTrader.com
Woodies CCI Club
Larry Levin Secrets of Traders
ORDERFLOWANALYTICS.COM
the Pro Trading LLC Richard Regan
gorillagaps.com
3stepislandtrader.com
forex-trading-made-ez.com/
lmt-forex-formula.com/welcome.html
topdogtrading.com
tradingstarpro.com
robwessels.com elitetraders.nl
rs of houston
PureTick
bootcamp.renegadetrader.com mark deaton
Rockwell trading
TraderInternational
DayTradeToWin
eMiniDayTrader.com
nexgen
priceactionroom.com
eminitradingcourse.com
blackjacktrader.com
Millenium-Traders
tradingonlinemadeeasy.com
easyeminitrade.com
vantagepointsoftwares.info
winborntraders.com
Mike Baghdady of Training Traders
http://www.3minutetrader.com/alerts/
http://www.2stocktrading.com/index.php
http://www.killingstocks.com/
bill duryea of ioamt.com
Rhythm of the Markets
Options Magic
TradQuest Systems
eminijunkie.com
Dave Wright "Wave Rider/Trend Catcher"
Bullseyetraders (Franz Shoar)
ShadowTraders (not the TDAmeritrade)
School of Trade SOT
http://www.james16group.us/
http://www.neweratrader.com/
ktrader.com Oliver Velez and Greg Capra, founders of Pristine.com and Mastertrader.com,iFundTrader.com
Woodies CCI Club
Larry Levin Secrets of Traders
ORDERFLOWANALYTICS.COM
the Pro Trading LLC Richard Regan
gorillagaps.com
3stepislandtrader.com
forex-trading-made-ez.com/
lmt-forex-formula.com/welcome.html
topdogtrading.com
tradingstarpro.com
robwessels.com elitetraders.nl
rs of houston
PureTick
bootcamp.renegadetrader.com mark deaton
Last edited by a moderator:
Quote from emg:
Updated List
would anyone like to become rich and wealth with preston ely.
he only asks for 50,000 usd to train you to be rich and wealthy and beautiful.
i do not get any commission, OK?
what is this once upon a time, beautiful world, coming to.... preston....?
Attachments
One popular trick...
OK, you BUY say 5 futures contracts or 1000 shares of stock
you also SELL 5 futures contract (different)
odds are you will WIN on the buy or sell side....
then, once you have money (it's probably sim anyhow)...
DO A VIDEO!!!
Show the gains, talk about how it's easy and you are genius.
obviously never show the loser.
It's really easy and it works!!!
People fall for this all the time
which is why you need audited results for years
OK, you BUY say 5 futures contracts or 1000 shares of stock
you also SELL 5 futures contract (different)
odds are you will WIN on the buy or sell side....
then, once you have money (it's probably sim anyhow)...
DO A VIDEO!!!
Show the gains, talk about how it's easy and you are genius.
obviously never show the loser.
It's really easy and it works!!!
People fall for this all the time
which is why you need audited results for years
Quote from BlueTurtle:
One popular trick...
OK, you BUY say 5 futures contracts or 1000 shares of stock
you also SELL 5 futures contract (different)
odds are you will WIN on the buy or sell side....
then, once you have money (it's probably sim anyhow)...
DO A VIDEO!!!
Show the gains, talk about how it's easy and you are genius.
obviously never show the loser.
It's really easy and it works!!!
People fall for this all the time
which is why you need audited results for years
That's the same schtick they use in sports betting hotlines. Tell half the subscribers during the free trial that the Giants will win and tell the other half that the Patriots will win and repeat every weekend. At the end of 3 weeks you have a group that has been told the winning pick each week and boom you look like a genius. That is until you plunk down your money for the subscription service only to realize you got scammed.
Here is an example on how a vendor cheat on u:
http://www.cftc.gov/opa/enf03/opa4789-03.htm
COMMODITY SOFTWARE VENDOR CHARGED WITH VIOLATING CFTC ORDER
Defendant Swannell Sold His Elliott Wave Analyzer Software Programs Through His Website
WASHINGTON D.C. â The Commodity Futures Trading Commission (CFTC) announced today the recent filing of a two-count civil injunctive complaint in federal district court in Los Angeles against Richard Swannell of Australia, charging that Swannell, who sells commodity trading software online (see CFTC News Release 4442-00, September 7, 2000), violated a September 6, 2000, Commission consent order to which he had voluntarily agreed.
That consent order required Swannell to refrain from presenting hypothetical trading results without warning of the inherent limitations of hypothetical trading, and to clearly identify when trading results were based wholly or partially on simulated or hypothetical trading. The order also prohibited Swannell from making any representations of financial benefits associated with any commodity futures or options trading system without first disclosing âprominently and conspicuously, that futures trading involves high risk with the potential for substantial losses.â
Specifically, the complaint charges, among other things, that Swannell violated the order by using hypothetical trading results to sell his Elliott Wave Analyzer software programs and seminars without disclosing that the trading results were not the result of actual trading. Within the past six months, Swannell's website has included statements that the software is "84.9% accurate- Statistically Proven" and that "the Elliott Wave Analyzer 3 can accurately forecast market movement," according to the complaint. The complaint further alleges that these statements are based upon hypothetical trading but that Swannell failed to disclose this fact and failed to prominently display a warning regarding the limitations of simulated or hypothetical trading results as required by CFTC regulations. In addition, the complaint charges that Swannell did not prominently display a warning of the risks of futures trading, as required by the order.
In its continuing litigation against Swannell, the CFTC is seeking a permanent injunction, repayment of ill-gotten gains, and civil monetary penalties.
The CFTC appreciates the assistance of the Australian Securities & Investments Commission.
The following staff of the CFTC Division of Enforcement were responsible for this action: Robert Hildum, Tim Mulreany, Ken Koh, Jacqueline Hamra Mesa, and Paul Hayeck.
http://www.cftc.gov/opa/enf03/opa4789-03.htm
COMMODITY SOFTWARE VENDOR CHARGED WITH VIOLATING CFTC ORDER
Defendant Swannell Sold His Elliott Wave Analyzer Software Programs Through His Website
WASHINGTON D.C. â The Commodity Futures Trading Commission (CFTC) announced today the recent filing of a two-count civil injunctive complaint in federal district court in Los Angeles against Richard Swannell of Australia, charging that Swannell, who sells commodity trading software online (see CFTC News Release 4442-00, September 7, 2000), violated a September 6, 2000, Commission consent order to which he had voluntarily agreed.
That consent order required Swannell to refrain from presenting hypothetical trading results without warning of the inherent limitations of hypothetical trading, and to clearly identify when trading results were based wholly or partially on simulated or hypothetical trading. The order also prohibited Swannell from making any representations of financial benefits associated with any commodity futures or options trading system without first disclosing âprominently and conspicuously, that futures trading involves high risk with the potential for substantial losses.â
Specifically, the complaint charges, among other things, that Swannell violated the order by using hypothetical trading results to sell his Elliott Wave Analyzer software programs and seminars without disclosing that the trading results were not the result of actual trading. Within the past six months, Swannell's website has included statements that the software is "84.9% accurate- Statistically Proven" and that "the Elliott Wave Analyzer 3 can accurately forecast market movement," according to the complaint. The complaint further alleges that these statements are based upon hypothetical trading but that Swannell failed to disclose this fact and failed to prominently display a warning regarding the limitations of simulated or hypothetical trading results as required by CFTC regulations. In addition, the complaint charges that Swannell did not prominently display a warning of the risks of futures trading, as required by the order.
In its continuing litigation against Swannell, the CFTC is seeking a permanent injunction, repayment of ill-gotten gains, and civil monetary penalties.
The CFTC appreciates the assistance of the Australian Securities & Investments Commission.
The following staff of the CFTC Division of Enforcement were responsible for this action: Robert Hildum, Tim Mulreany, Ken Koh, Jacqueline Hamra Mesa, and Paul Hayeck.
Here is another article:
http://www.globes.co.il/serveen/globes/docview.asp?did=1000654409&fid=1725
Police probe alleged fraud by Easy Forex
The core of the complaint filed with the police is a NIS 500 million suit by five Easy Forex customers last year.
Sources inform ''Globes'' that the Israel Police has been conducting for several months a criminal investigation against online foreign exchange trader Easy Forex Ltd. The investigation was opened following a complaint in August 2010 by a company customer, Shmuel Rozovsky, who lost hundreds of thousands of shekels trading in the company's arena. He alleged that the company defrauded its customers by inducing them to think that they could make quick profits, when in practice, the company was fed by their losses.
In November 2010, the complainant was notified that the police had closed the file due to lack of evidence. He appealed against the decision to the State Prosecutor, claiming that "urgent enforcement action is required here," because "forex fraud, the subject of the complaint, has harmed and continues to harm a large public in Israel, and many people continue to fall into the forex companies' nets, losing huge amounts of money."
Copies of the appeal were sent to then-Israel Securities Authority chairman Zohar Goshen and the head of its enforcement unit, to the National Economic Council chairman Eugene Kandel, and to various law enforcement officials. A few months ago, apparently before a hearing of the appeal, at a direct order from Israel Police headquarters, the Police Fraud Unit set up a team to investigate the case.
Over the past few months, the team has consulted foreign exchange experts, economists, and legal experts in studying the issue. The investigators contacted the complainant's attorney, Adv. Nimrod Assif, for clarifications about the factual and legal aspects of the case. Assif confirmed to "Globes" that he was asked to provide clarifications in the context of the investigation, but he declined to provide additional details.
The core of the complaint filed with the police is a NIS 500 million claim filed by five Easy Forex customers last year, headed by Rozovsky. The complaint, and a request that the Tel Aviv District Court should approve it as a class-action suit, is based on the grounds that company customers lost hundreds of thousands, and even millions, of shekels within a short time. The complaint calls foreign exchange trading "forex fraud", and alleges that companies in the sector are fed by customers' losses.
Easy Forex filed a motion to dismiss the petition for a class-action suit, saying that it was "demagogic, full of baseless pronouncements and populist slogans, and factually and legally groundless." Easy Forex's lawyer, by Adv. Gilad Porat of Berkman Wechsler Bloom & Co. Law Offices says that the fact that the company is the counterparty to transactions, as a market maker, openly and explicitly appears in its contracts with customers, and that it is easy to prove that "Easy Forex has no wish, interest, or ability to cause its customers to lose money."
In another lawsuit, filed in January in the Haifa Magistrates Court by two former Easy Forex customers, Benjamin Tiktuk and Arie Levy Dash, the company is being sued for NIS 2 million compensation. The claimants said that they were unaware that in most cases Easy Forex was the counterparty in their transactions on its trading system.
Previous legal proceedings against several investors ended in an out-of-court settlement in December 2009.
The police said in response, "An investigation is underway in the case, and we have no intention of discussing the details of the case."
Easy Forex said in response, "We are unaware of any investigation. For a long time, a number of parties have been trying in any way possible to harm the company and extort money they donât deserve from it."
http://www.globes.co.il/serveen/globes/docview.asp?did=1000654409&fid=1725
Police probe alleged fraud by Easy Forex
The core of the complaint filed with the police is a NIS 500 million suit by five Easy Forex customers last year.
Sources inform ''Globes'' that the Israel Police has been conducting for several months a criminal investigation against online foreign exchange trader Easy Forex Ltd. The investigation was opened following a complaint in August 2010 by a company customer, Shmuel Rozovsky, who lost hundreds of thousands of shekels trading in the company's arena. He alleged that the company defrauded its customers by inducing them to think that they could make quick profits, when in practice, the company was fed by their losses.
In November 2010, the complainant was notified that the police had closed the file due to lack of evidence. He appealed against the decision to the State Prosecutor, claiming that "urgent enforcement action is required here," because "forex fraud, the subject of the complaint, has harmed and continues to harm a large public in Israel, and many people continue to fall into the forex companies' nets, losing huge amounts of money."
Copies of the appeal were sent to then-Israel Securities Authority chairman Zohar Goshen and the head of its enforcement unit, to the National Economic Council chairman Eugene Kandel, and to various law enforcement officials. A few months ago, apparently before a hearing of the appeal, at a direct order from Israel Police headquarters, the Police Fraud Unit set up a team to investigate the case.
Over the past few months, the team has consulted foreign exchange experts, economists, and legal experts in studying the issue. The investigators contacted the complainant's attorney, Adv. Nimrod Assif, for clarifications about the factual and legal aspects of the case. Assif confirmed to "Globes" that he was asked to provide clarifications in the context of the investigation, but he declined to provide additional details.
The core of the complaint filed with the police is a NIS 500 million claim filed by five Easy Forex customers last year, headed by Rozovsky. The complaint, and a request that the Tel Aviv District Court should approve it as a class-action suit, is based on the grounds that company customers lost hundreds of thousands, and even millions, of shekels within a short time. The complaint calls foreign exchange trading "forex fraud", and alleges that companies in the sector are fed by customers' losses.
Easy Forex filed a motion to dismiss the petition for a class-action suit, saying that it was "demagogic, full of baseless pronouncements and populist slogans, and factually and legally groundless." Easy Forex's lawyer, by Adv. Gilad Porat of Berkman Wechsler Bloom & Co. Law Offices says that the fact that the company is the counterparty to transactions, as a market maker, openly and explicitly appears in its contracts with customers, and that it is easy to prove that "Easy Forex has no wish, interest, or ability to cause its customers to lose money."
In another lawsuit, filed in January in the Haifa Magistrates Court by two former Easy Forex customers, Benjamin Tiktuk and Arie Levy Dash, the company is being sued for NIS 2 million compensation. The claimants said that they were unaware that in most cases Easy Forex was the counterparty in their transactions on its trading system.
Previous legal proceedings against several investors ended in an out-of-court settlement in December 2009.
The police said in response, "An investigation is underway in the case, and we have no intention of discussing the details of the case."
Easy Forex said in response, "We are unaware of any investigation. For a long time, a number of parties have been trying in any way possible to harm the company and extort money they donât deserve from it."