The Trader Institute and Global Trade Room
Simon Jousef of Global Trade Room and The Trader Institute are in serious trouble. According to the CFTC, this is a massive fraud.
This Futures day trading educational company and “live” day trading room has been highly promoted by Dr. Dean Handley. In fact, Dr. Dean Handley proclaimed this live trading room as “truthful, transparent, and profitable.” However, CFTC investigators discovered the Simon Jousef has never even had a trading account. Ever.
According to consumers that contacted TradingSchools.Org, and who took Mr. Handley’s advice were funneled into a financial slaughterhouse where they were fleeced for $9k for a “magical magnet” trading indicator and a “live trading room” by Simon Jousef. Consumers quickly discovered that Simon Jousef is a complete and total fraud.
Consumers lost massive sums of money and the CFTC, or Commodity Futures Trading Commission filed a formal complaint alleging multiple counts of commodity fraud.
This is an absolute shit show and yet again gives the financial education industry another black eye. Fraud on an epic scale.
Absolutely nothing to recommend
Simon Joseph has never had a trading account
Simon Joseph sold $1.3 million in fraudulent products and services
All of the marketing materials and performance summaries were fraudulently produced
Yet another “Trading Titan” is busted by the CFTC
Thanks for reading today’s review of The Traders Institute
What is The Traders Institute, and what are they selling? According to The Traders Institute website, the company is selling a “live” Futures trading room where the owner of the company, Simon Jousef, proclaims that he is a professional day trader that specializes in day trading the Futures markets.
According to Simon Jousef, he claims to be a multi-millionaire day trader and “one of the top 5 Futures day traders in the world.”
In addition, Simon Jousef claims that while he was studying black holes in space, he discovered a warp in space-time, and that this “time warp” could be applied to financial markets. Mr. Jousef proclaims that he designed some sort of magical mathematical formula called “The Trading Magnet.”
This “trading magnet” as Simon Jousef explains, “contains the same quantum properties as a black hole and it magnetizes prices to the intended target…to the tick.” As a result of having this “secret” knowledge, Simon Jousef claims all manner of whack-a-doodle and he is now a multi-millionaire trader.
The Trader Institute: The Trading Magnet is for SALE!
For only a limited time, you can also purchase the secret code of the “trading magnet” and you can apply this to any Futures market, any time frame, and earn millions of dollars “with ease.” In fact, Mr. Simon Jousef proclaims, “It’s like getting FREE MONEY.” The cost of the “trading magnet” is only $8,900 for lifetime access to the amazing secret code.
Additionally, the lifetime access includes several months of the live trading room, where Simon Jousef claims that he is trading with a live trading account, and earning millions of dollars in the process.
For your viewing pleasure, please behold the majesty of this supposed financial genius…
The Trader Institute: A Two Man Shit Show
Of course, every financial genius needs a trusty sidekick to clean his boots and scrub his toilet. This would be a person named Daryl Swanson, who is affectionity referred to as the sales manager of The Trading Institute. Have a look…
According to Daryl Swanson, his fascination with the markets began as a small child. While growing up in Minnesota on a farm, he was fascinated by the colorful lights and sounds that emanated from the television and daily financial news. He then began a lifelong quest to learn to trade, but he knew that he needed a “trading mentor.”
In about 2014, he was introduced to Simon Jousef and was incredibly impressed with Simon Jousef’s impeccable and 100% verifiable track record of Futures trades. As Daryl Swanson opines on The Trader Institute website, “the Trading Magnet definitely works” and “I am very honored to be given the secret to unlimited shrimp cocktail, oops I mean financial success.”
After kissing Simon Jousef’s ass profusely over a 4 year period, he was offered the coveted position of sales manager and assigned with the task of bringing wealth and unlimited prosperity to the masses.
The Trader Institute: A Three Man Clown Show
Of course, every financial huckster needs a good marketing channel. And when it comes to Futures trading, nobody is more notorious than Dr. Dean Handley.
Dr. Dean Handley claims that he is the worlds foremost expert on live Futures trading rooms. In fact, many thousands of people have dearly clung to his supposed reviews. And as a result, many people believe this bozo with the religious fervor of a TV preacher.
In fact, Dr. Dean Handley arguably “sells” a supposedly highly coveted plastic trinket called the “Titans Of Trading” trading award. Dean claims that he individually views and records the live trades within a live trading room, and then issues a bold proclamation whether the consumer should purchase the product, or avoid the product.
With regards to Simon Jousef, our good doctor bestowed his highest honors and proclaimed that “Simon Jousef is a Trading Titan. He is truthful, transparent, and profitable!” As a result, a trading trinket was issued to Simon Jousef. Have a look…
The Trader Institute: It’s all a fraud
Back in 2015, TradingSchools.Org exposed this triple trifecta for what it truly is — a complete and total fraud. You can read our original review about Simon Jousef, Dean Handley, and Bob “Bang Bang” Amico here.
In that review, we stated the obvious and presented highly detailed evidence that investors were being scammed. Included were videos, spreadsheets, and consumer testimonials of person’s that had been scammed.
We recommended that consumers immediately begin filing complaints directly with the CFTC, or the Commodity Futures Trading Commission.
Apparently, the CFTC heard the cries of the people who were scammed and began to investigate.
The Commodity Futures Trading Commission lowers the BOOM.
On September 10, 2019, the CFTC filed a formal complaint alleging fraud against Simon Jousef. In the complaint, the CFTC investigated Simon Jousef and discovered the following:
- From 2014 to 2016, Simon Jousef sold 300 consumers a total of $1,300,000 in live trading room subscriptions and magical magnet trading indicators.
- That Simon Jousef claimed to be trading “live.” Yet, the CFTC discovered that he never even had a trading account.
- That he lied to the National Futures Association…repeatedly.
- He lied to the public and was not a registered Commodity Trading Advisor.
- That he had never earned a profit trading Futures or Forex.
- All of the customer testimonials were fraudulent.
- The spreadsheet of supposed “real” trades were all fraudulently created.
- The 90% supposed win rate was fraudulent.
- The email marketing claiming “free money” and that “I have not had a losing day in three years” was a lie.
Did I mention that the CFTC discovered that Simon Jousef has never even had a live trading account? It was all a scam, according to the CFTC.
As a result, Mr. Simon Jousef has been charged with the following:
- Count One: Commodity Trading Advisory Fraud
- Count Two: Commodity Fraud, Deceptive Device, Fraudulent Scheme
- Count Three: Failure to Provide Disclosures Regarding Testimonials
- Count Four: Failure to Provide Disclosures Regarding Simulated Performance
- Count Five: False or Misleading Statements
As you can read, this is a very serious regulatory action. At this stage, these are all just allegations, however, the completed investigation is absolutely damning. For those that are interested in the exact wording of the complaint, I have included the court filing below…The Trader Institute Simon Jousef
Wrapping things up
Commodity trading fraud is serious business. It remains to be seen whether Simon Jousef will be indicted by the US Attorney. If he is indicted, I would suspect a lengthy prison sentence.
However, at this point, we don’t really know if the US Attorney has already opened a criminal investigation. Typically, these sorts of mass frauds begin with the CFTC and then are referred to the US Attorney for a possible criminal indictment.
My suspicion is that Simon Jousef is in very serious jeopardy. And the people that helped perpetrate this fraud are also under investigation. But this is just speculation.
Thanks for reading.