I'm also an experienced trader who sent them an email. They responded by basically trying to push their "training" program on me. I didn't bother with sending any statements after that. It was pretty clear what they were after.
My understanding is that as soon as you're live account is down 2500$ (tuition cost) you're out of the company. That's how their business model work.
Jimmy, did you actually talk to them? Is that what they told you? Someone I know talked to them and their response was that everyone who signed up is still with the firm.
I'm interested in what their training is about (generally), what software they use, what software fees or any other fees that may be assessed are. Can someone who gets a response from them let me know (PM is fine).
No, but that's just how it works everywhere. They're in the business of teaching people how to trade (selling people dreams that they can become succesfull traders) not actually trading.
I think places like this aren't necessarily scams. They shouldn't be expected to be a Charity, either.
General, where did you get this information? Can you provide a link? Would appreciate your input as I am considering working with them. Thanks
Jerry, my bad. Futures Capital.net looks ok. I had them confused with another outfit, which looked like a scam to me. I contacted the Elite Trader Administer to have my comment removed. Sorry and Good Luck.
If they are legitimate, then I would suspect that they wouldn't turn you off just because you lose $2500 as long as you are following their risk parameters and entering trades consistent with their entry rules. With that said, I'm sure they're not going to let you lose $25,000 before shutting you off. It would be interesting to hear from someone that has traded at the firm or is still there.