I’ve got a post about this stuff somewhere else.
I cannot say whether this crowd are legit or not.
But the entire concept doesn’t sit right with me.
So you pay your $150 and you do well and prove yourself for the month. But would YOU give somebody a few thousand of YOUR money to trade based on a single month’s track record??? I know I wouldn’t.
I really don’t know. So far as I can tell all of these firms are making an absolute killing by charging monthly fees for training and then charging for “seats” and whatever else. And I can guarantee you that it’s probably 100% legal as well just as long as they actually do sponsor one or two accounts for that month. So they’re taking in a small fortune and so can therefore afford to lose a few small trading accounts i.e. the overall result is a tidy guaranteed income on a monthly basis. Matter of fact if they were REALLY clever they’d even White Label and run a bucket shop i.e. the trades would never leave the platform so it wouldn’t matter whether you made or lost and in this case they’d hire the WORST traders not the BEST traders.
As I noted on another thread (as noted above): I think some very clever people have gotten very clever and invented just another way to fleece money out of new traders.
And I mean conversely: if you are already that good a trader then why am I going to charge YOU to trade for ME if you can make a reasonable percentage every month??? Wouldn’t make sense i.e. so I charge YOU $150 for the month but you can make for me $10 000 for the month. Nah. Just doesn’t sit in my gut right.