what do you think about these guys
are they legit or is this a scam
you pay 150 dollars to join and pass some kind of trading challenge
if you pass the challenge
they will fund you
Ehh it’s legit but what are the odds of you getting approved even if you do pass the challenge. I’m pretty certain they have a quota or just a certain amount of traders that they approve monthly. Also you’re forgetting that $150 you’re paying is monthly charges as well. It’s obvious to me that they truly make their money on their subscription based models. How many are actually successful funded traders? I’d rather just save up my own money and play with my own funds.
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there is no mention of this in the site
according to them you pass the challenge you get funded
yes 150 dollars a month
but in my pov
if somebody can not pass the challenge in one month that means he or she has a bad or no trading strategy and therefore better for him or her to call it quit and go for demo for maybe 6 month to a year until he or she gets a sound winning strategy
now i am asking if somebody or a friend ever tried this and if they are legit
Yes this maybe true but even then just looking at it this way they say on their site 2000+ trading accounts funded. If this started in 2010 like the company info stated it’s been about 102 months that has passed even on the high end lets 2,999 accounts have been funded that is only 29.4 accounts being approved every month. If it’s 2000 it’s about 19.6 accounts being funded currently. If 2000 people are paying the minimum of $150 a month that is $300,000. Yeah I don’t know about anyone whose actually tried this before. Only thing I can think that make you give this a try is either you don’t have the capital but have the savvy to trade or literally want to diversify and make money without using your capital (just doesn’t sound right saying it out loud to me). Again I rather just trade for self at the end of the day and that’s just me. Hopefully someone has a good reply for you. At the end of the day they’re making profit off the subscription model and that’s a definite also I’m guessing they get a piece of your profits as well or a percentage? Not my cup of tea honestly.
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.
they charge 150 dollars only for people taking the challenge
and if a person pass the challenge
they supposedly fund his trading with of course a piece of the pie for them and the 150 dollars will not be charged
I think the concept is not bad , because if a person thinks he is good trader
so why trade with small account will you can use the trading skill for a large somme that he or she can not afford
yes you guys are right if they are looking for skilled traders why ask them for 150 dollars to pass the challenge, i will go for 50 dollars but not 150
Have you read their Terms of Use?
See what you’re getting into before you commit.
My personal opinion is that their terms are far too heavily weighted in their favour for me to consider using them.
You may think differently
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I just spent some time Googling them. Hmmmnnn… Dunno. Not quite sure about them (or any of the others to be honest). Same old story as with brokers i.e. pages of rave reviews and happy campers while other not so stellar reviews. The entire concept is dodge if you ask me. But then that’s just me. By today’s standards I’m an old man at 54. So carry on as you were. I suppose (as one dude said): far better to lose $150 while at the same time being trained than to wipe out an entire live trading account of your own. But then again: that’s just like paying tuition fees to any one of thousands and thousands of dodgy sites.
Anyway. if you do decide to go for it then let us know how you get on. And if it’s legit: I really could not be happier for you. I suppose in truth (and just as yet another person posted about this somewhere in these reviews): there may very well be “natural” traders out there that simply don’t have the capital for their trading to be meaningful.
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Since just about everything peripheral to this industry (and even at its core) is a scam in one form or another I have to vote: scam. Would avoid.
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I am against that things really anyway. We already have here some free school for all what matters for that really. I hope you will agree with me on that. Better to buy someting good for your PC if you really need that lately and learn our course.
Probably they get a load of people applying at 150, and the absolute best they then allow them to trade some of the money they have accumulated. The paid to trade bit is probably quite legitimate. The risk at 150 is probably dodgy as hell.
But cream rises to the surface. The people who benefit most though are topsteptrader lol
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Sounds like a scam. Get the hell out.
exactly
they want to thrust their money with winning traders
but as you said 150 bucks is a bit high , for trying a demo kind of thing
Always been told if you’re good and consistent enough they will come after you, and they get their info from the brokers