Advanced Trading Workshop, Sniper Scalping, FTS Financial
Yet another highly touted, highly promoted NinjaTrader Brokerage/Ecosystem educational provider is charged with orchestrating a $2.97 million dollar fraud. The educational provider proclaimed to the world that he was a full-time professional day trader earning massive sums with a live, real money trading account. It turns out that the live trading room was a complete and total fraud. None of the trades were live trades, instead were executed on the notorious NinjaTrader simulator. Subscribers of the live trading room could never replicate the trades, which triggered the CFTC complaints. CFTC investigators discovered that the educational provider did not have a trading account, nor had ever traded profitably. Trading educational provider was highly promoted by Futures Truth Magazine and Dr. Dean Handley.
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Another Highly Touted Trading Room Bites The Dust
On September 26, 2016, the CFTC simultaneously charged, co-conspirators Advanced Trading Workshop, Sniper Scalping School and FTS Financial with a massive fraud. The allegations of fraud are deep and ugly. Apparently, since 2012 these guys have been scamming people for an “Advanced Trading Education” that was sold for prices ranging from $4,995 to $7,500. Complaint A, Complaint B.
These guys were great at selling the dream of day trading glory. In fact, since 2012 they were able to rip off consumers for over $2.97 million dollars.
The scam was pretty simple. 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 are looking to open an account with an offshore, online casino. We will name this casino, “NinjaTrader Casino And Ecosystem for Suckers”. NinjaTrader Casino is very friendly. And they offer their casino software for FREE. Simply download NinjaTrader Casino software, and begin playing the free SlotMachine simulator. NinjaTrader Casino even starts the consumer off with a hypothetical bankroll in which to test out the SlotMachine Simulator. After playing for awhile, the balance begins to increase steadily, and the impression is that gambling is easy profits. The consumer then deposits real money and begins trading, oops I mean playing the online slot machine. However, once the game begins using real money, then easy winning stops and the real money account is drained.
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.
99.99% of the trading educational industry are nothing but cockroaches. But cockroaches need someplace to hide, somewhere to breed, someplace to sleep. A place to call home. Unequivocally, the home of nearly all of the trading cockroaches in the trading community can be found inside of the protected sanctuary known as NinjaTrader Brokerage/Ecosystem. Isn’t it time that the trading community stop rewarding a company that continues to wreak such financial devastation on so many honest people?
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.