The problem with trader training services is they are not regulated. Meaning, they can do whatever they want to do. For example, placing a banner or advertising gaurantee profit and small risk. false results or cheating on results. misrepresent by stating trading live while they are actually trading on sim.
Discussion: The problems with trader training services are...
- Thread starter Xspurt
- Start date
In that respect, they are regulated the same way any other company is regulated.....with false advertising and consumer protection laws. If someone were to take them to court and be able to prove the claims are false then the company would have to pay. While these laws aren't the best, I would NEVER advocate for more government regulation. We have way too much of that already.
I think that FINRA and the NFA should register trader training services for a start on a fee-driven basis. And both should host consumer complaints and comments on their websites. While registration might be voluntary, at least some standards might be set, consumer transparency established, and the hacks and cheats who dominate the field of trader training would be forced to confront a stroll out of the shadows and into the sunshine. I would be all for it, and would register immediately.
wow, I couldn't have said it better myself
Jack, can you go into detail about why the sun comes up from the east and not the west? Also, when you built the moon, did you mean for it to reflect off the sun?