MainStreetsAmerica Prop Trading
A complete and total scam. Pay $795 for a “job” as a prop trader. Graduates are promised $100k in trading capital upon graduation of training program. No program exists. Company has left a path of abandoned websites promoting this scam.
Main Streets America
Hello and thanks for reading today’s review of Main Streets America, a prop day trading firm located at www.mainstreetsamerica.com. The listed address of the property 5405 Morningside Drive, Houston Texas 77005. The company also claims to have offices in Chicago, Los Angeles, New York, and Mumbai India.
Main Streets America is a certified Ninja Trader Partner. Over the years, the company has been given a platform by Ninja Trader to reach a large audience within the trading community. Being a Ninja Trader Certified Partner implies credibility and honesty.
So what is Main Streets America? Main Streets America describes themselves as a proprietary trading firm looking to hire and train people that have a passion for trading the financial markets. The company is specifically looking for people that need financial backing. Prospective traders must complete a series of tests and practice trades on the Ninja Trader demo platform. Once the trader has achieved a minimal level of performance on a demo account, then the Main Streets America Investment Fund will provide financial backing to the trader in the amount of $100,000 per trader. The trader is not responsible for any losses, and is allowed to keep 65% of any gains.
Main Streets America reaches much of its United States audience through the Ninja Trader Certified Partner Program, however, through research I have discovered that Main Streets America also posts ads on job boards offering “Prop Trader” positions in India and Australia.
The cost to be admitted into the trader program is $795. Once the student pays the fee, they then receive online access to a described trader training program. They are then asked to download the Ninja Trader Platform and complete a range of tasks and trades. Once all of the tasks have been completed, the trader then begins trading on a simulated account. Once a minimal level of performance is achieved, then the trader has graduated from the program. He is then refunded his training fee, and given access to $100,000 in trading capital to trade as they please. Sounds great right?
A Closer Look At Main Streets America
The first thing that I found strange about this company is the number of physical addresses listed on the website. Sure looks like it occupies a lot of real estate. Offices in Houston, Los Angeles, New York, Chicago, and even Mumbai. However, the phone number for each address is the same. A single phone number in Houston Texas, Strange for a multinational proprietary day trading firm managing hundreds of millions of dollars in capital. The phone number is 281-853-9733. I called the phone number. No answering service, no receptionist, it just rings into a voiceless mailbox. Just a beep. There is no, “Thanks for calling our wonderful day trading firm, please leave a message”, just a lone beep with no voice mail message.
Next I noticed that the only listed address is 5405 Morningside Drive, Houston Texas, 77005. And so I did a google maps search and discovered that the address is actually a place a business named Torchy’s Tacos. Apparently this is the worldwide headquarters. Have a look.
I found this curious and so I called Torchy’s Tacos and asked them if they had ever heard of Main Streets America Investments and Prop Trading. The young lady that answered the phone said that she was unaware that she was sharing this address with an international conglomerate. This all left me very confused. Next I emailed to the both of the listed email addresses on Main Streets America and asked for clarification on the address. Several hours later, I received a correspondence and assurances that they were located directly across from Torchy’s Tacos.
Next, I used Google maps search and simply rotated the viewer finder across the street from Torchy’s Tacos. I found the following businesses: Stitches and Such, Village Fitness, Social Butterfly Connection. Below are the three businesses directly across from Torchy’s Tacos, and apparently somewhere in this location is in fact the world wide headquarters of Main Streets America. Next, I called each of these businesses and asked them if they had ever heard of Main Streets America, a national and international day trading firm. None could affirm the existence.
Of course, this address issue I found to be really unsettling. And so I began excitedly sending messages to this company, asking why nobody had heard of them? In my emails, I also included that I was from Trading Schools.Org and that a review would be written reflecting this information.
Someone named Howard
The next day, I received an email from a person named Howard that assured me that the address is correct. He also included a link where I could purchase my new prop trading position for a reduced fee of $595. But that I really needed to hurry because 12 of the 15 spots were taken, and that my reduced fee of $595 was good for only another 30 minutes. I graciously thanked Howard for my reduced fee, and then asked if he could explain why he was using the address of Torchy’s Tacos, and how the employees of Stitches and Such, Village Fitness, and Social Buttefly had never heard of Main Streets America. After a few back and forth emails, Howard responded that they had made a mistake and that the address was actually 5504 Morningside Drive, Houston Texas. And that this was an honest mistake. A quick search of the new address shows a office complex named “Platform Houston” office space. A co-merge workspace, a mail drop box location. I emailed a message to the manager of the location, but my hopes of confirming that this company occupies this location are nearly zero.
In addition to having a magical address, this company also has a list of “expert traders” named Bernard Sheehan, Mark Collantes, Michael Burke, Kyle Graham, and Jason (Redacted). After an exhaustive 3 hour search, I can conclude that all of these individuals are either fictional, or not aware that their images are being used on this website. In particular, a person listed as Jason (Redacted), where it is claimed that he managed a billion dollars at Morgan Stanley and owns a corporation named (Redacted) Capital. Of course, there is no such thing as (Redacted) Capital. It simply does not exist. I also found it curious that all of these individuals use the same email address: [email protected] Amazing stuff folks.
A Trail Of Nonsense, Fraud, and Deceit
If you are not bored yet, then keep reading because this nonsense continues…next I ran a Who Is search on MainStreetsAmerica, which of course is listed as anonymous. However, they left a clue. A little breadcrumb for me to follow. The site administrator is listed as a Gautam Goyal, home address is 207 W New Meadows Drive, Sugarland Texas 77479. Apparently this is not the first time this hustle has been executed by Mr. Goyal. In addition to MainStreetsAmerica, there is also the following now defunct businesses with websites that match Main Street America and were registered and managed by Mr. Goyal. Each of the following links connects to Archvice.Org, which allows us to see the content of these now defunct websites. All offering “Firm Capital” for a fee.
Hopefully, by now you are starting to catch on to how this hustle works. I did a bit more research and discovered that new victims are exploited by the promise of a job offering. If you run a simple Goolge search for any of these now defunct companies, the underlying theme is that innocent people found this company through job boards and craigslist help wanted ads. They were innocently looking for a job. Many in India, Australia, the United States. The company defrauds a few desperate people, then quickly disposes of the website and then quickly creates a new website. They then go back to the same job boards and repeat the process, over and over. Who knows how many of these sites actually exist? I spent nearly 6 hours reading comments from a wide variety of US based sites, and non US based sites, the whole thing made me sick to my stomach. This scam has been going on since 2009.
The Weirdness Continues
On of the weird things about this company is the content on the Charity page of MainStreetsAmerica.com. There are some pictures of homeless people in a shelter, and a grainy video of a man with a piece of paper taped to the front of this T shirt. The piece of paper say’s “Main Street”.
Apparently, the company donates money to a homeless shelter? WTF! What’s this guy doing with that piece of paper taped to his T shirt? Are they attempting to convey how great they are because of this homeless shelter stunt. Weird stuff folks.
Also, on their websites, they have these poor exploited people that have given testimonial videos. What are these videos? I watched each of these, and none of these people have much of a clue what is happening or how to trade professionally. This company wants us to believe that these are their professional prop traders that are trading company monies? This is such an obvious con job that I am just flabbergasted at how anyone could fall for this stuff.
After watching this video, how many professional prop firms would just give this person $100,000 and free reign to trade company monies? This stuff is amazing folks.
A Phone Call From Lynn Swail
After emailing back and forth to this company, I demanded a phone call. Else a negative review would be immediately written and posted on TradingSchools.Org. This morning, I received a phone call from a person identifying themselves as Lynn Swail at 857-400-8993. Honestly, I was more than a little surprised that they had the courage to call me. The first thing I asked, who owns this company? Lynn responded that there is no specific owner. But that there are approximately 95-105 different owners. Next I asked him how the fund is managed, are the partners pooled together into an investment fund? He explained that none of the investors pool money. Whenever a trader passes the trading tests, then any of the 95-105 owners can individually provide funding.
In addition to this odd explanation, Lynn Swail also explained that one of his children just died in a car wreck only a few days prior. Of course, this immediately triggered sympathies, but my bullshit meter immediately went into the red zone with this guy. He sure didn’t seem too depressed about losing a child. In fact, he just kept motoring along, very confidently telling me how great his company was. The whole time I am thinking about losing a child, I cannot help but see that guy working in the homeless shelter serving food. All of this seemed like a coy attempt at inspiring sympathy from me. It was a good attempt at getting me off balance, and creating a diversion from the pile of manure he was stuffing into my ears. Certainly an A for effort, but con stories are nothing new to me.
Wrapping Things Up
This is obviously a scheme. Over the years, this company has recycled dozens of addresses and phone numbers. I find the attempt at telling the story of a deceased child to inspire sympathies particularly distasteful, the exploitation of homeless people to make themselves appear benevolent is another low blow. The hastily thrown together videos of people that have supposedly passed the trading program and are now trading WillyNilly with firm capital to be complete hogwash. No company in their right mind is going to just hand over a bunch of unwashed amateurs $100,000 each, in trading capital, to do as they please in the financial markets.
And finally, one of the worst and most despicable aspects of this fraud are in the nature and exploitation of the victims. These are not the typical trader types, most traders have a minimal level of sophistication and can easily spot this fraud. However, the victims of this fraud are people simply looking for a job. These are people that answer help wanted ads on jobs boards, and craiglist, etc. These are people desperate for money, they need a job, they need a paycheck. However, what little they probably have remaining are being exploited and stolen from them in the hopes of a “prop trading job”.
Part of me wants to laugh at how anyone could be so stupid for falling into this fraud. And part of me wants to cry in knowing how humans can treat each other in such a cruel and callous manner. Thanks for reading today. This review literally made me sick to my stomach, and I had a poor nights sleep just thinking about this fraud. Perhaps this is just all Karma for the way that I used to treat people. Don’t forget to leave your comments below. Thanks for reading.