I met the guy starting Innovative before they came out, the guy who originally taught the courses for technical analysis was not a profitable trader so he decided that it was time to find another line of work, so again the old saying, those who can't play, teach, coach, etc...
Nice guy though, don't get me wrong, but they sold there book on Yahoo Stores previously, don't know if thats still around, but got a free copy of the stuff (Selling for a couple hundred bucks) some interesting stuff, but you could find the same thing for $29.95 at Barnes and Noble.
The B/D they operate through or mostly independent offices that have switched clearing firms a number of times. I personally know of one of the prinicpals with one of these firms that they consult out to and heres the deal that innovative gets:
a) They get the consulting fee
b) They get a finders fee from the B/D
c) They get a cut of the commissions relates back to b) (kickbacks, somewhat on the borderline)
d) They do find you money, but they also get a cut of that, they have a relationship with some lending hedge fund.
The accounts are held in multi-layed LLC's, and yes they do a bait and switch technique. Say that they can get you money to trade.. then they explain that first you need to prove yourself to them before they risk anything, so you put up the risk capital and if you start making money then we will help you out. They are a bit shady when it comes to that type of issue. And these group deals they are offering you aren't that great, look at the rates everyone else is getting, and you can find backing at many of the BRAND NAME firms like you get at Innovative with less money.
The worst part about this thread is that, probably half the supporters for this firm are plants by the company. How do I know, well first of all, the first time Innovative was ever mention here it was something like, I found this great firm called innovative at the website blah blah blah.com, and everyone said what a crappy site it was and how it looked like a scam. Didn't say anything, just cause it was so obvious.
Then they start to get the hang of it, have some guys post some quick messages so the posts don't look like newbies just advertising a site, and if you do a search on innovative you just might see this. This is not to say that they are all fakes, but some are just so obvious, and people on this thread have noticed. What I don't get is if they can afford to flood monster with these job postings, why don't they just pay like everyone else who advertises on EliteTrader?
Have I gone through there program? No. But they did attempt to hire me as a trainer, but I'm not a good enough trader or trainer to take that type of money from a newbie, so I told them I'd pass. Another note, if you look real close at the firms they are recommending and the areas they are located you'll see that they had similar backgrounds in what they were named before and who they cleared through (All-Tech, US Trading.....etc...)
Nice guy though, don't get me wrong, but they sold there book on Yahoo Stores previously, don't know if thats still around, but got a free copy of the stuff (Selling for a couple hundred bucks) some interesting stuff, but you could find the same thing for $29.95 at Barnes and Noble.
The B/D they operate through or mostly independent offices that have switched clearing firms a number of times. I personally know of one of the prinicpals with one of these firms that they consult out to and heres the deal that innovative gets:
a) They get the consulting fee
b) They get a finders fee from the B/D
c) They get a cut of the commissions relates back to b) (kickbacks, somewhat on the borderline)
d) They do find you money, but they also get a cut of that, they have a relationship with some lending hedge fund.
The accounts are held in multi-layed LLC's, and yes they do a bait and switch technique. Say that they can get you money to trade.. then they explain that first you need to prove yourself to them before they risk anything, so you put up the risk capital and if you start making money then we will help you out. They are a bit shady when it comes to that type of issue. And these group deals they are offering you aren't that great, look at the rates everyone else is getting, and you can find backing at many of the BRAND NAME firms like you get at Innovative with less money.
The worst part about this thread is that, probably half the supporters for this firm are plants by the company. How do I know, well first of all, the first time Innovative was ever mention here it was something like, I found this great firm called innovative at the website blah blah blah.com, and everyone said what a crappy site it was and how it looked like a scam. Didn't say anything, just cause it was so obvious.
Then they start to get the hang of it, have some guys post some quick messages so the posts don't look like newbies just advertising a site, and if you do a search on innovative you just might see this. This is not to say that they are all fakes, but some are just so obvious, and people on this thread have noticed. What I don't get is if they can afford to flood monster with these job postings, why don't they just pay like everyone else who advertises on EliteTrader?
Have I gone through there program? No. But they did attempt to hire me as a trainer, but I'm not a good enough trader or trainer to take that type of money from a newbie, so I told them I'd pass. Another note, if you look real close at the firms they are recommending and the areas they are located you'll see that they had similar backgrounds in what they were named before and who they cleared through (All-Tech, US Trading.....etc...)
