A list of all scam unregulated 3rd party educational vendors

Discussion in 'Educational Resources' started by emg, Dec 15, 2010.

  1. emg


    Due to the fact mastertrader.com is registered with the NFA, will be taken off the list. If u have issue/complaints on mastertrader.com, u can always file complaint on the nfa website


    afterall, u are paying the nfa to regulate.

    Updated List

    Rockwell trading
    Mike Baghdady of Training Traders
    bill duryea of ioamt.com
    Rhythm of the Markets
    Options Magic
    TradQuest Systems
    Dave Wright "Wave Rider/Trend Catcher"
    Bullseyetraders (Franz Shoar)
    ShadowTraders (not the TDAmeritrade)
    School of Trade SOT
    Woodies CCI Club
    Larry Levin Secrets of Traders
    the Pro Trading LLC Richard Regan
    robwessels.com elitetraders.nl
    rs of houston
    bootcamp.renegadetrader.com mark deaton
    learn-to-trade-and-invest.com, The Fractal Futures Trader
    Last edited by a moderator: Nov 26, 2019
    #881     Nov 21, 2012
  2. the1


    Tradethemarkets.com is probably one of the biggest scams of them all. They take an indicator, tweek it a little, slap a name on it and toss it in a package for a fee of something like....1,500 bucks. I guess it's the idiots that fall for this who are at blame, not TTM's. Nonetheless, they are a total scam.

    #882     Nov 21, 2012
  3. @joe4422


    1--did you pay for any of the indic or course?

    2--tell us more in details about what you PERSONALLY discovered e.g. give us an example or two of what you personally considered as scam or fraudulent, pls?

    3--which person or persons did you make your purchase from, pls?

    4--did you check out those so-called scamers before you paid for anything from them, pls?

    thx and hope you could enlighten us with some specificities, rather than just throwing out the label, OK?

    #883     Nov 21, 2012
  4. emg


    mastertrader.com also doing business as pristine.com and is part of greg capra. Unless somebody can confirmed he is not. Regardless, mastertrader.com is registered with the nfa, but that doesn't mean they are not scam. NFA and CFTC took down many registered firms cheating on retail traders such as Richard Regan. Beware and do your due diligence.

    u can learn more on how to protect yourself against scam by visiting the nfa site:

    Scams and Swindles: An Educational Guide to Avoiding Investment Fraud


    #884     Nov 21, 2012
  5. Master trader is a affiliated firm with Pristine.com

    Pristine.com Provides Education and other trading services While master trader provides broker services and are totally different companies. They are however affiliated which is even better since both firms have a pretty big heritage.

    I do not use master trader but was considering opening an account with them There customer service is very good however i could not negotiate commissions with them so opened account with a different broker.

    I dont see why you guys see Greg capra as a problem. Oliver velez was a problem and he was kicked out of pristine later , bought out my Greg capra.

    I am in touch with several people who trade at pristine and have been doing so since a very long time.

    A lot of their competition is trained by Pristine .I saw a old video once of scott redler on TV where he said he took his training from Pristine and now he runs T3Live. there are several other firms from whom i confirmed who they took their training from they said pristine. So if they were all successful running their own business and trading that shows that their strategy works. Courses are expensive however the education is topnotch.

    My course starts on Jan 26, Will keep you guys updated throughout
    #885     Nov 21, 2012
  6. emg


    Also, mastertrader.com sent me 2 private emails thru elitetrader.com requesting to be removed from the list. I do not know why they can't sent the requests in here
    #886     Nov 21, 2012
  7. With regards to Pristine, or any educational firm that suggests they can teach you how to trade :

    Is there any credible proof of performance ?

    ie personal monthly statements...the simplest of all proof ?

    Is there a real account that implements these methods showing true performance that can be verified by a third party ?

    Are there not many hedge funds that would be very interested if there was verifiable proof of performance regarding methods that have an edge ?
    #887     Nov 22, 2012
  8. The list below is taken from the Elite forum. A forum for (day) traders. It is a list of scammers based on the experience of other traders who actually joined these educators. The reason why they are scammers differs from not trading live, communicating false results to not delivering what you payed for, etc. In most cases however they are not doing anything illegal by law. Most of them tell you that they will teach you how to trade. And that is a very broad concept. It involves how to use the DOM-trader (or Matrix), the use of the charting software, technical indicators, different order types, etc. But none of them actually makes a profit through trading. And as long as they don’t communicate that they do there isn’t much illegal about it. But you want an educator to show you how to make profits and that’s not going to happen.

    N.B. If an educator is not on this list it doesn’t mean it is not a scammer! It might not have been under review or isn’t that “well known” yet. I will try to update the list regularly. My personal opinion is:”those who can, trade and those who can’t try to teach and sell crap”. Stay away from educators/vendors, they are traders who failed!


    These are comments from another website.


    What makes sense is that if a company tells you that they are going to tell you how to trade...that there should be some proof of performance. They should show by statements that they actually know how to trade themselves.

    Proof of performance is very simple.

    It should be provided that someone somewhere can prove that by utilizing this methodology, it has been profitable.

    The notion that one would seek to spend thousands of $ on non proven methods is just not logical.
    #888     Nov 22, 2012
  9. cgiann


    Thanks all for the information in this forum. It has proven to be very helpful. There is a teaching company, which also has a trading room, indicators, etc., that I've been unable to find any feedback or information on. Has anyone here heard of, or had direct experience with, www.tradermakers.com? They do post daily trade details (mostly CL and GC) which they admit are SIM and not live trades. However, they claim that these are the trades that are called out in their trade room daily. Has anyone here had any exposure to this company?

    #889     Feb 26, 2013
  10. hi cgiann and all:

    any trader who knows HOW TO TRADE PROFITABLY would trade live real time and real money.

    any trading educator who is worth anything and who really knows HOW to trade PROFITABLY AND CONSISTENTLY should do even more than that to prove to those wishing to learn how to trade PROFITABLY AND CONSISTENTLY in exchange for potential students' cash and tuition.

    if trading educator or vendor or whoever wishing to enlist you but would not or can not.... FOR WHATEVER REASONS.... trade live and on live screen.... placing trades for you LIVE and ON SCREEN....


    EACH and everyone of them are only after your money.

    There are several groups of traders who trade live, with real money and on screen for PAID members. their monthly fees range from 300 usd to 2,000 or more usd depending on variable services.

    once again, if a person can not speak, read or write hebrew.... how on earth can his students master hebrew....?

    trading is a very serious and competitive biz demanding your full and complete attention.

    EVEN IF YOU HAVE A SUCCESSFULLY PROVEN "SOME TECH, METHODOLOGY" to show that you were profitable and consistent all day, week or month....

    TODAY the market might make an utter fool out of you:

    because your past successful "SETUPS, METHODS, TECHNIQUES.... etc" might be setup exactly the same as previous sesstions....

    but the market internals might not be the same this particular session.... to support your past successful setup to profitability....

    yes, am speaking from personal experiences.

    JUST ASK YOURSELF, IF YOU KNOW HOW TO CLICK A FEW KEYS TO MAKE MONEY PROFITABLY AND CONSISTENTLY.... would you want to tell others how to do it.... in exchange for a few thousands....

    when you can in the privacy of your own comfort and environ generate hundred folds more....?

    keep your money in your own acct please.... please.... please.... UNTIL YOU CAN SEEK OUT SOMEONE WHO CAN DEMONSTRATE TO YOUR VERY OWN SATISFACTION THAT THE PERSON CAN:


    TRADE WITH OWN MONEY, one, two, three contracts--doesn't matter;


    not until then.... OUI?

    cheers everyone.

    #890     Feb 26, 2013