Advanced Trading Workshop, Sniper Scalping, FTS Financial
Another highly touted, highly marketed NinjaTrader Brokerage/Ecosystem educational supplier is charged with orchestrating a $2.97 million dollar fraud. The instructional supplier proclaimed to the world he was a fulltime professional day trader making huge sums using a live, real money trading accounts. It turns out the live trading area was a complete and total fraud. Not one of the transactions were live transactions, rather were implemented on the infamous NinjaTrader simulator. Subscribers of this live trading area may never replicate the transactions, which triggered the CFTC complaints. CFTC researchers discovered the instructional supplier didn’t have a trading accounts, nor had traded.
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Another Highly Touted Trading Room Bites The Dust
On September 26, 2016, the CFTC simultaneously Billed, co-conspirators Advanced Trading Workshop, Sniper Scalping School and FTS Financial Using a Huge fraud. The allegations of fraud are both deep and ugly. Apparently, since 2012 these guys have been scamming people for an”Advanced Trading Education” that was offered for prices ranging from $4,995 to $7,500.
The scam was basic. They had a live day trading room where the Ass-Hat in chief, a guy named Jerry Simmons would sit in front of an audience and trade on a simulator. The simulator was provided by none other than NinjaTrader Brokerage. And anyone that has been around the trading software and trading brokerage business knows that the NinjaTrader simulator is easy to game. In fact, the NinjaTrader simulator is a complete joke that allows a person to casually enter and exit limit orders, therefore projecting the illusion that trading is very, very easy. On the contrary, it is not easy. Anyone that believes the results from trading on a NinjaTrader simulator is doomed for failure. Why? Because the moment that a person begins trading with a live, real money account will quickly realize that limit orders are hard to actually file. But of course, NinjaTrader will never tell you this, they are in the business of selling brokerage services and trading software.
The NinjaTrader Simulator Scam
The NinjaTrader Simulator, in many ways, resembles a scam. And it has been used by hundreds of so-called professional trading educators to hustle the newbie trader out of untold amounts of money. But most newbie traders have a hard time understanding how the scam actually works. So let me give an example that the day trader newbie can understand…
Suppose that you’re wanting to start an account using an offshore, online casino. NinjaTrader Casino is quite friendly. Plus they provide their casino software at no cost. Just download NinjaTrader Casino applications, and start enjoying with the free SlotMachine simulator. NinjaTrader Casino even begins off the consumer using a hypothetical bankroll to try out that the SlotMachine Simulator. After playing for awhile, the equilibrium starts to increase steadily, and the belief is that gaming is easy gains. The user then deposits real cash and starts trading, oops I suggest playing the internet slot machine. But as soon as the game starts using real cash, then simple winning stops and the real cash account is emptied.
Perhaps the NinjaTrader Simulated SlotMachine is not your taste. Then why not try out the NinjaTrader BlackJack Simulator. With amazement, you never seem to bust and the dealer loses with regularity. Wow, NinjaTrader BlackJack simulator is so easy. And so you open your live, real money trading account with NinjaTrader Brokerage and quickly discover that real money playing is much more difficult.
Of course, this is a simplified description of how NinjaTrader creates the illusion that trading is easy. But those of us that have been around for awhile already know, that real money trading is difficult. And that getting filled on limit orders, from a gamified NinjaTrader platform is meant to only deceive the unwashed masses.
NinjaTrader Ecosystem Scam
Since the inception and founding of NinjaTrader, this company has played a large role in many of the trading scams in today’s online trading world. In fact, they have dedicated an entire website to promoting an online circus of hustlers and con artists. It’s called the NinjaTrader Ecosystem. And it’s a cesspool of trading fraud, fakes, and phonies.
Though NinjaTrader not mentioned in the CFTC complaint, in my opinion, NinjaTrader played an outsized role in the Advanced Trading Workshop, Sniper Scalping School, and FTS Financial trading scam. How? By promoting the scam through a series of free webinars and website promotion that opens their massive list of customers up to fraud and financial misery. Of course, NinjaTrader could have easily vetted these charlatans, and quickly discovered the truth. But they truly do not care about their customers. Have a look at just a few of the sponsored NinjaTrader webinars that NinjaTrader promoted with great vigor:
No Vetting of Trading Educators
NinjaTrader will cry foul, and claim that there is no possible way to know if a trading educator is a fraud or a phony. That is complete nonsense. A simple Google search of Advanced Trading Workshop, Sniper Scalping School, or FTS Financial reveals that one of the companies are a couple of brothers by the name Kevin and Stephen Symons. A couple of real gems to society. Apparently, these guys have been running trading education scams for a combined 20+ years. Stephen went to prison in the early 2000’s for securities fraud and theft, served a 43-month sentence. Promptly gets out and goes right back into selling yet more trading educational scams.
Steven is a real gem of a trading educator as well, in 2012, he got nailed by the CFTC for running yet another trading scam named CTI Trading Group. The CFTC thought enough of his trading educational courses and systems that they nailed him with a $11 million dollar fraud judgment.
The following picture is a lovely picture of Kevin Symons, working out of his boiler room in Orange County, California. Take note of the picture, “SELL THE DREAM”.
Look at this guy. Complete douchebag. All of the information on these ass clowns are public and highly visible. Yet, NinjaTrader Brokerage continues to push and promote these types of charlatans.
In fact, how could NinjaTrader not know? A major portion of the internet is filled with online complaints regarding the individuals running the Advanced Trading Workshop, Sniper Scalping School, and FTS Financial. RipOff Report has entire sections dedicated to these bozo’s.
The heart of the CFTC complaint
The CFTC complaints are quite long at 10 pages and 31 pages. I read both. Interested readers can read the finer details of the complaints through the following links: Complaint A and Complaint B. Really, its not much different than the vast majority of reviews that I write about. In fact, the complaints are pretty much uniform, and follow a common narrative:
- Victim finds fraudulent trading educator through NinjaTrader Brokerage/Ecosystem.
- Victim attends live trading room where educator professes to trade with a live trading account. Educator makes easy money trading the NinjaTrader simulator.
- Victim, is then heavily marketed and sold worthless trading indicators for $4,995 to $7,500.
- Victim opens live trading account with NinjaTrader Brokerage, and then proceed to lose real money.
The cycle repeats itself over again by NinjaTrader emailing the victim with yet another trading educator that is supposedly verified and legitimate, or listing the NinjaTrader listing the company as a “Preferred Educational Provider” on the NinjaTrader Ecosystem. The loop of misery, pain and frustration continues until the victim is broke and disgusted with the notion of investing in anything. Ninja Trader and their promotional tactics have become a black-eye, a pariah on the trading community.
Other bad actors
Of course, NinjaTrader Brokerage/Ecosystem are not the only bad actors in this oft repeated drama of fraud, deceit, and deception. Some of the credit needs to be laid-upon the doorstep of Dr. Dean Handley and Futures Truth Magazine that certified these guys as one of the “Global Trade Titans.” The following is a clip from Futures Truth Magazine in which Dr. Dean Handley gave this guy his special “Trade Titan Award” to hang upon his wall and show to prospective customers. Folks, it’s the best award that you can buy for only $699 down payment and $399 a month. Complete nonsense. In the past several years, Dr. Dean has heaped praise upon dozens of these scammy trading rooms. Everyone has an angle to make a buck, Dr. Dean Handley included.
Wrapping things up
I have spent a great deal of time talking about NinjaTrader Ecosystem/Brokerage. Truthfully, I could have spent more time talking about how the CFTC complainants have already created new websites, selling more useless trading junk. Andy Carlsen is already pitching his latest offering titled, Trading Done Right. And partnering with BackToTheFutureTrading.com/partners, another guy I reviewed selling magic trading indicators.
The knuckleheaded brothers, Keven and Steven Symons are probably off selling some new crap using alias names (CFTC reported the following alias names: Burt Monroe, Jack Logan, Mark Bishop, Mike Turner, Corey Graham). Probably whipping out a new website today, have to get it completed for NinjaTrader by tomorrow.
And the cockroach Jerry Simmons, he is probably putting the finishing touches on his newest website as well, have to get that over to NinjaTrader by next week so he can be listed as yet another certified trading educator.
99.99percent of the trading instructional sector are only cockroaches. However, cockroaches need somewhere to hide, somewhere to strain, somewhere to sleep. A place to call home. Unequivocally, the house of almost all the trading cockroaches from the trading community are located inside the secure sanctuary called NinjaTrader Brokerage/Ecosystem. Is not it time the trading community prevent rewarding a business which continues to wreak these fiscal devastation on numerous honest men and women?
Surely, many readers are comfortable using the NinjaTrader trading platform, and they have become comfortable to the ever decreasing confines of their brokerage operation. But isn’t it time that the trading community stop rewarding bad behavior and bad actors? There are plenty of futures brokerages out there that do not promote scams and frauds. Brokers like Matt at Optimus Futures. Or trading platform providers like TradeNavigator, Multicharts, TradeStation, all avoid these scammy educators.
Thanks for reading. Sorry if this update is less humorous than usual. Tune in next week when I write about a new and interesting futures brokerage named Tradovate.com, a new trading brokerage that offers unlimited trading at a fixed monthly price. Interesting.
Thanks again and dont forget to leave a comment.