Thanks for reading today’s review of Day Trade Academy
Before everything else, nearly all of the information for this review was provided to tradingschools.pro by the Utah Department of Securities, the CFTC, and a former employee of Day Trade Academy.
Day Trading Academy is advertising a Forex day trading education, with the opportunity to receive a fully funded trading account of $100,000.
However, like anything trading-related, you have to read the publications. And you have to ask a multitude of questions. The following are the exact details of what the company is offering.
Trader Executive Program
The Trader Executive Program has a sign-up fee of $15,595. With an additional fee of $327 per month. Included is a secret indicator, twice per week (1 hour) coaching for 12 weeks, and access to recorded webinars.
A student must complete 12 months of instructional stuff, and an additional 6 weeks of successfully investing on a Forex simulator.
In case the student transactions successfully using a simulator and matches an undefined functioning threshold, then the corporation will award the student with a $3k Forex account.
The student gets to keep 80% of profits.
Trader Pro Funding Program
The Pro Funding Program has a sign-up fee of $7,195. With an additional fee of $327 per month. Included is a secret indicator, twice per week (1 hour) coaching for 9 weeks, and access to recorded webinars.
A student must complete 9 weeks of educational materials, and an additional 6 weeks of successfully trading on a Forex simulator.
If the student trades successfully with a simulator and meets an undefined performance threshold, then the company will award the student with a $2k Forex account.
The student gets to keep 60% of profits.
Trader Pro Program with NO funding option
The Trader Pro program does not include the opportunity for a funded account. The student is required to pay $4,195 upfront and $327 per month. Included is twice per week (1 hour) coaching for 6 weeks.
Included are educational materials and recorded webinars.
Trader Lite Program
The Trader Lite program costs $876 per month and gives access to only educational materials.
What about the $100k fully funded account?
tradingschools.pro contacted the company and asked about the supposed promise for a fully funded $100k Forex trading account. The company replied that any additional funds must be provided by the student, either by additional deposit or through any profits the trader earned.
Now let’s talk about whom owns this company.
Kevin Jones and Mathew Poll
I would like to introduce Kevin Jones and Mathew Poll. Both are longtime pyramid/Ponzi scheme hustlers and active members of the Mormon church.
Kevin Jones got his start as a door-to-door salesman. According to his social media profile, he managed a team of 25 door-to-door salesmen that specialized in the usual door-to-door gimmickry; aluminum siding, kitchen knives, vacuum cleaners, and soap.
Eventually, he moved into pyramid marketing schemes that included selling residential phone services, and then eventually Forex trading educational products.
According to the former employee of Day Trade Academy, Kevin Jones has a long time friend and business partner named Matthew Poll.
Mathew Poll got his start as an insurance salesman. He eventually joined Kevin selling a pyramid scheme named Telcel Solutions. The following video describes this “Telecom Business Opportunity.” Basically, spend $12,500 for the opportunity to sell other people a piece of the pyramid for $12,500.
A History Of Pyramid Schemes
According to an interview that tradingschools.pro conducted with the Utah Division of Securities–they are very familiar Kevin Jones and Mathew Poll.
In fact, they were both ordered to Cease and Desist operations for a Forex scheme named Freedom Wealth Group. Essentially, Freedom Wealth Group was a pyramid/Ponzi scheme where Sucker A would convince Sucker B that Freedom Wealth Group had a magic trading indicator that would solve all of their money problems. Simply place the indicator on a Forex chart, copy the trades, and then money would magically appear in their Forex trading account.
As with all pyramid/Ponzi-type schemes, you will eventually run out of Suckers. The people at the top of the pyramid get paid, while the people on the bottom of the pyramid get hustled. Some of the people that were hustled by Kevin Jones and Mathew Poll eventually filed a complaint with the State of Utah.
After the State of Utah figured out that the entire operation was a pyramid investment scheme, they ordered Freedom Wealth Group to cease operations. You can see an archived copy of the Freedom Wealth Group website here. So what did Kevin and Mathew do next? Just start a new company and keep doing the same thing!
Another Forex Pyramid Scheme
Within a matter of weeks from being busted for Freedom Wealth Group, they quickly formed a new company named Tactic Trading. But this time, they took things a step further. Instead of offering a magical trading indicator, they ‘white labeled’ the Sierra Chart trading platform and renamed it Green Chart.
Unbeknownst to clients, they also received a kickback from every new account along with a commission proportion of the whole trading volume. All this is highly illegal in the USA.
Sure enough…that the Utah Division of Securities began to get a batch of fresh complaints which were remarkably like the Freedom Wealth Group complaints. In brief, folks were spending tens of thousands of bucks to the Green Chart trading applications, magic trading signals, an educational solution, and also the chance to’market’ the pyramid program to relatives members and friends. The Utah Division of Securities wasn’t impressed. They were once more shut down.
So now, we are talking about the original scheme of Freedom Wealth Group, that continues with Tactic Trading. Both shut down. A simple Google search for ‘Tactic Trade/Freedom Wealth Group’ will reveal page after page of online complaints from people that were scammed.
So what does Kevin Jones and Mathew Poll do next? You guessed it. Create yet another Forex trading and educational company mish-mashed with the flavor of pyramid. But by this time, they have figured out how to confuse and delay the State of Utah. Just create a bunch of different Forex trading companies! Swamp the securities regulators with a multitude of companies.
An Egypt full of pyramid schemes
The following is a list of known companies that these hustlers are currently using. But, by no means is this a complete list. This is only what we were able to easily find. There are probably much more. So let’s take a look at what tradingschools.pro has been able to track down:
- Day Trade Academy
- Freedom Trade Group
- Try Day Trading
- Trader Solutions Group
- Day Trade My Money
- Day Trade Smart
- Day Trade 2 Day
- BitCoin Trader
Its pretty clever how they essentially, decentralized the operation into a multitude of smaller businesses. This makes enforcement by regulators extremely difficult. Each company is a separate enforcement action. What can the State of Utah do?
Here comes the CFTC
At this point, it has become pretty obvious to the State of Utah that Kevin Jones and Mathew Poll are not going to quit so easily. In addition, the scheme has now branched into all 50 states via job site ‘ad postings’.
Like cancer, these guys just keep spreading out. Time for federal regulators. Time to bring in the “Big Guns.”
On June 5, 2017, the CFTC charged the Forex brokerage known as Tallinex, Kevin Jones, Matthew Poll, and their shell company; General Trader Fulfillment with fraud.
How is it fraud? Glad you asked. According to the CFTC, Tallinex was fraudulently misrepresenting the profits of General Trader Fulfillment students. In other words, Kevin Jones and Mathew Poll were telling potential students that graduates of their trading program were making huge sums of money. And this information was supposedly verified and authenticated by Tallinex.
So think about this a moment…a student wants to become a full-time trader, and he wants that $100k company funded trading account. The trading educator is telling the student that everyone is making huge sums of money and that everything can be verified by simply talking to Tallinex. Of course, Tallinex is located in Estonia and they couldn’t give a damn about US regulators, nor the welfare of the students of Kevin and Matthew. Tallinex just wants new accounts and trading volume, they will say anything.
It’s a sad and pathetic tale. But it takes on a new meaning when a former employee of Kevin and Matthew colorfully describes the poor and pathetic souls that went into debt to purchase the $16k educational program. The person described the victims of Kevin and Matthew as “salt of the earth” type persons. With little resources, usually the working poor, with little understanding of financial instruments.
The Forex Fraud continues…Capital City Markets
None of this fraud works without a Forex broker. And since June 5, 2017…the CFTC effectively eliminated one-leg of the scheme. But as we have learned from the prior history of Kevin Jones and Matthew Poll, they are not going away easily. With skills honed through years of selling vacuum cleaners door-to-door, they know that the next sucker can be found at the next door.
So what do Kevin and Mathew do next? Start a Forex brokerage!
According to the former employee of Kevin and Matthew, they are the buttholes behind Capital City Markets.
But Kevin and Matthew are pretty smart guys. The company is registered in the lovely hamlet of Vanuatu. An island in the middle of the South Pacific. A place that is known for extreme secrecy and completely out of the reach of the CFTC.
The audacity of these scammers. It is simply amazing how persistent they continue with this scam.
Wrapping Things Up
These are the types of reviews that really fluster me. A tremendous amount of time goes into researching how the fraud is being executed. You can track down and expose the person and the company. But what do you do when they simply create a new company name?
And then blast ‘help wanted’ ads all over the internet? Luring in the next batch of suckers.
And the CFTC and the State of Utah? Can you imagine the resources that they must expend? It’s just crazy. These companies are like cockroaches.
Thanks for reading. Would love to read your comments and opinions.