Hey, I’m pretty new to trading and have had some success with bots previously so I’ve been looking to scale into that but programming is beyond me. I’ve even tried Pinescript on Tradingview and asked chatgpt for help, it just doesn’t work as well as the bots I was using. They are behind a paywall that I can’t get over unfortunately, so I’ve been searching for alternatives.
I stumbled across a group claiming to use AI algorithms to trade and they had an offer to pass a prop firm challenge for us and nonpayment up front until the challenge is passed and I’m receiving payouts, then they want 30% of my payouts. That seems steep, so it appeared to be legitimate.
I did have to pay up front for the challenge account and this is where I started to have second thoughts…I paid their company, not the prop firm, but the contact gave me the account credentials and said I could monitor the account from the dashboard but if I connect the account to a platform I’ll be flagged since the prop firm checks IPs and in my experience with prop firms this makes sense.
There are numerous testimonials, videos, calls, recorded livestreams, a constant feed of clients receiving payouts. I understand that can all be faked though, so in this situation what else can I look for to confirm the legitimacy of this.
Again remember, they aren’t a broker and although I am not familiar with the prop firm they suggested, I do visit their site and am able to log in with credentials provided to me and see an account. Furthermore the account dashboard did allow me to do a KYC anticipating a payout, but they did not provide a payment method section which is a bit suspicious and leads me to think perhaps the prop itself is being faked.
I’m looking to more experienced readers to help me figure this out and if it turns out to be a scam, but the prop firm is legit, what could I do besides start trading it myself? Would they maybe refund me since I was scammed?
Any help is appreciated, thank you.