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Welcome to the Green Room Trading Live review.
The owner of Green Room Trading Live (greenroom-live.com) in partnership with Investopedia Academy is selling live trading room membership and courses.
He is selling a bunch of day trading courses and claims to have been featured on the Investopedia Academy as a renowned trading educator.
At the moment, David Green is also peddling TradeNet brokerage accounts which are owned and operated by Meir Barak.
Meir Barak is claiming to provide free education and funded accounts if students meet certain criteria.
We’ve always said that such trading operations are a scam and TradeNet is no exception.
David Green of Green Room Trading Live is a fun and entertaining character, though he’s constantly denied that he is not the David Green that was barred by the FINRA from offering any kind of financial product.
He sells the following products and services:
$199 for a day trading course
$300 a month to access live trading room
$995 for a 5-day trading lab
The live trading room runs on a daily basis and is hosted by David Green himself. Inside this live trading room, he offers stock trading alerts and expects students to copy them.
In addition to this, David is offering some sort of a magical trading indicator inside the live trading room.
For $995, students get 6 day trading strategies, mentoring, help with trading psychology as well as an open session of questions and answers.
The “Become a Day Trader Course” is offered in partnership with Investopedia Academy.
The course includes training videos and interactive lessons as well.
If you want to know whether or not this trading school is a scam, we implore you to continue reading this Green Room Trading Live review.
Green Room Trading Live review
Who exactly is the owner of Green Room Trading live?
According to David’s self proclamations, he is an investment manager with 30+ years of experience.
He claims that he was a floor trader in the New York Stock Exchange in 1985.
On top of that, David wants his students to know that he used to work as a market maker for institutions such as Goldman Sachs, Bank of America, IBM and Best Buy.
Additionally, he claims to have retired before the age of 40 because of his rapid success at the time.
He claims to have “retired” from the securities industry in 2000 and has been training traders since then.
This is quite an impressive resume if all of this is true.
But why did David opt to “train” students instead of continuing in the lucrative securities industry?
It’s clear that there is a story behind this “retirement”.
But first, is the owner of Green Room Trading Live a professional trader or a scammer offering to make people rich overnight?
Well, David Green owns a corporation in Florida under the name D A Green Holdings Fl, INC. The physical address of this company is 6604 Patio Lane, Boca Raton, FL 33433 according to this document.
Once we discovered this information, the next step was to comb through regulatory database to try learn about David Green’s background. What we found was not pleasing.
According to the Financial Industry Regulatory Authority (FINRA), there’s only one David Green who is registered in Florida (the owner of Green Room Trading Live also lives in Florida).
The other one is called David Allen Green but this one has 6 years of experience. So this is a different Mr. Green (if the words of this trading educator are anything to go by).
Therefore, the real identity of David Green who owns Green Room Trading Live continues to remain a mystery since he denies the above information.
He claims that his name is David Alan Green and not David Auguste Green.
All of this if fine and dandy.
But upon investigating the “David Alan Green” that this guy claims is the real identity, we found no footprints of a stock broker or trading educator with such a name.
This is a strange discovery especially for someone with a professional profile like Mr. Green’s.
He claims to have worked as a stock broker since 1985. So this is indeed very strange!
It remains to be seen whether FINRA barred the owner of Green Room Trading Live or someone they share a similar name with.
Nevertheless, this is a punishment that is so rare and if someone can get a permanent ban, then it’s simply an indication of that person having engaged in serious fraud.
In 2002, the Mr. Green that lives in Florida worked at Vertical Capital Partners. This company was expelled from FINRA membership in 2008 because of fraud.
This company was scamming retired citizens using a “pump and dump” stock investing operation.
Right after this, David also worked for Capital Growth Financial. This company was also expelled by FINRA for engaging in fraud.
In 2003, David Green was forced to fined for churning and burning his clients’ trading accounts. He paid a restitution.
In 2004, he repeated the same crime. He was barred from associating with any NASD-registered firm.
In 2005, he was fined $20,000 for repeating the same mistake of churning and burning his clients’ accounts.
He was eventually from offering investment advice or associating with FINRA-registered corporations.
All of this is actually denied by Mr. David Alan Green. He claims that he has never had any issues with FINRA.
So either his identity is fake or he is actually the person he is denying.
Green Room Trading Live Review: A trading educator
It is hard not to believe that Mr. Green is denying what is true.
However, if by any chance our theory holds water, then the following is the gospel truth concerning the trading educator who runs Green Room Trading Live.
A “Mr. Green” simply reinvented himself into a “day trading educator” providing investment advice on how to get rich quickly.
He runs a live trading room which is fun to be a member of.
His jovial attitude makes everything lively.
He is a great entertainer and while doing so, he pushes his trading products and services.
So you can imagine how many of those “students” are getting persuaded to spend money on Mr.Green’s products.
Mr. Green (with a fake identity) is a demo trader
He is not trading with a live account either.
In fact, he trades on a TradeNet account.
But what is Tradenet?
TradeNet is a CFDs account offered by an Israeli citizen called Meir Barak who is not authorized to provide securities in the US.
Now, the saddest part is that trading CFDs in the US is a felony. If caught, you could pay hefty fines or face 10 years of imprisonment.
Read our review of F1 Trade to understand what we’re saying here.
Green Room Trading Live comes across as genuine stock trading education.
However, when you do a background search, you discover very ugly things about someone who is either the owner of Green Room Trading Live or shares the same identity with him.
The fact that a Mr.Green of Green Room Trading Live is cooperating with TradeNet “investment accounts” means that they are committing a felony already.
Any “trading educator” who wants you to send money to some bank account based in Seychelles is basically scheming on how to scam you.
If a “trading educator” has been barred for life from engaging in any business in the Securities industry, you should avoid them at all cost.
Of course the fake identity makes it difficult to ascertain whether or not he is the same Mr. Green who was barred by FINRA.
Thanks for reading the Green Room Trading Live review. We will update this review when “Mr. Green” sends more information about himself.
As at the time of publishing/updating this review, a lot of things were not clear concerning this trading educator.
In the meantime, we’d like to read your comments on the same.