Flowtrade Review: Is Flow Trade Legit or Scam?
Welcome to the FlowTrade review. The service is competing with this very well-known stock trading service. Flow Trade’s website can be found here and the reason I’m doing this review now is because the sales page is claiming that the company has an ‘algorithm built by market makers’. And they want to give us this ‘secret algorithm’ if we pay them hundreds of dollars per month in subscription fees. Their language would even make you think the best trading products out there are not as good.
The company wants retail traders to believe that the playing field is leveled, thanks to their dark pool trading strategy.
The strategy is supposedly going to generate ‘higher profit’. And if combined with indicators and professional mentoring from Flowtrade, we can make smarter trades. This is exactly what the company proclaims on the sales page.
What exactly does Flowtrade sell other than dark pool nonsense?
There’s a 7 day free trial plan and after this, Flowtrade charges $199 monthly or $1,999 yearly.
The company sells the following:
- Flow index algorithm
- Professional mentoring
- Self-paced trading education
- Intelligent scans
The company fails to give insights onto their strategies. They presume that a 7 day trial would be enough to answer all your questions before you decide to make a purchase.
FlowTrade Review: why dark pool should not intimidate you
What exactly is dark pool strategy? It sounds like something that is truly magical. The term ‘dark pool’ conjures images of fairies, and is often used by investment hustlers and charlatans to intimidate consumers of trading products. But the truth is that dark pool strategy is nothing special.
The term is often used in the stock market to refer to the act of buying and selling of securities. If you own an account with the highly controversial TD Ameritrade broker, you are essentially using dark pools.
Therefore, the purchase and selling of securities on dark pool is completely useless. It cannot be referred to as a strategy for trading.
The reason Flowtrade is hanging onto this corny term is because they want to enrich themselves and the only way to achieve this is to make you pay for something that is intimidating but useless in reality.
Flowtrade marketing language
If you look at their website, you will see many ‘testimonials’ as well as two badges. The badges are supposedly from a website called Bezinga. Bezinga is a reviews platform that sells PR and advertising services. Just like Trustpilot, they will say what you want them to say if you pay them.
The ‘client testimonials’ is definitely the joke of the year. Flow Trade hopes to pursuade you to sign up because they have been ‘reviewed’ by their clients positively.
Keep in mind that these reviews are unverifiable. We have no idea whether those statements and pictures of their supposed consumers are real or made up for marketing purposes.
The Conclusion
Flowtrade is only selling snake oil to retail traders. The company is aggressively marketing the service everywhere on the internet which means more suckers are likely falling into their trap.
If you see a flashy website like Flow trade, you are better off avoiding them as there is always a good reason for creating such websites and using flowery sales language.
Avoid.