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Keystone Trading - SCAM or not?
- Thread starter BoomBoom68
- Start date
Before joining any firm that is not an SEC registered Broker Dealer, please call the Office of Interpretation and Guidance of the SEC at (202) 551-5777. Tell them this: I want to join this firm and trade stocks. They say they don't need to be registered. The name of the firm is (fill in the blank and direct them to the firms website). I pay them a commission, send money as a security deposit, am responsible for all my losses, and they pay me out 100% of my profits. They claim they are exempt from SEC registration of Securities Exchange Act of 1934 Section 3(a)(4)(A). Also, they solicited me on a public forum. I am concerned that they are operating an unregistered Broker Dealer"
I urge anyone as part of their DD to do this for any firm they wish to join that is not a SEC registered BD. It will be a real eye opener!
I urge anyone as part of their DD to do this for any firm they wish to join that is not a SEC registered BD. It will be a real eye opener!
Itrade2009, that is the best advice anyone has written on this thread. I owned a broker-dealer in the late 90's early 2000's and had a hard time competing against (on the prop & retail side) all the unregistered trading arcades that would spring up. What you described is a broker-dealer and it doesn't matter if they put lipstick on the pig, it's still a pig.
Quote from baggerlord:
Oh and the trading their capital no risk thing, they definitely manage your risk and have tight limits on what you can lose daily. They just now moved me up to 200 shares the other day, after 2 months.
lol. that sounds like fun.
200 shares? haha.
why are you guys wasting your time even...
because the firm is worth the time....
Because the mentors make sure nobody gets cute and trades stupid, and I'd say 95% are on the right side of the trade and make money when things move....
Noboday during the big plunge thursday was long with the majority being short or flat - and oh my god did they get paid....
Again, instead of naysaying, call the place up and get a free trial to the mentor room to see what goes on.
You'll be surprised.
Because the mentors make sure nobody gets cute and trades stupid, and I'd say 95% are on the right side of the trade and make money when things move....
Noboday during the big plunge thursday was long with the majority being short or flat - and oh my god did they get paid....
Again, instead of naysaying, call the place up and get a free trial to the mentor room to see what goes on.
You'll be surprised.
Quote from Bighead255:
I dont know how to respond to that it is what it is. Works for me I'm not complaining.
LEVERAGE.....that is what they are looking for. Also, the question to ask is if they are trading their own money. The majority of traders with successful track records are reluctant to trade their own money. Why risk your own cash if you have the ability to trade firm capital.