Mydaytradingtutor Review: The Dan Alvarez Scam
Thanks for reading the review of Mydaytradingtutor. What exactly is My Day Trading Tutor and what do they offer?
The company offers managed accounts and a trading simulator. According to the salespage, customers only need to fill and submit a form to get started with managed trading accounts.
The website is pretty basic. Nothing fancy about it and no promises of overnight profits.
The cost of joining this managed account service is $5,000. However, it’s not clear what brokerage they’re using or what results they’ve achieved over the last couple of months.
Omitting this information is a very bad mistake as we would like to find out who the broker is, whether they’re regulated or if it’s going to be a loss-making venture to investors.
We also looked at the owner’s profile (Dan Alvarez) and we found it quite interesting.
Some of the things that appear on his resume are impressive but unbelievable.
We hope the ‘achievements’ are verifiable through his trading activities. Right?
Is Mydaytradingtutor by Dan Alvarez legit?
The website has been around since 2006, offering the same managed account services that it offers today.
We’ve looked at the history of Mydaytradingtutor.com and did not find anything that piqued our interest.
Whether it is legit or not is a question of user testimonials and whether Mr. Alvarez can provide his trading statement or at least a track record showing his profitable trading statement.
I expected to find some positive reviews about this company but alas, they are nowhere to be found.
The owner claims that he has helped many people and that he has worked as a money manager on a retail and institutional level. However, there’s nothing much to support his claims.
Who is Dan Alvarez of My Day Trading Tutor?
This is the question that I asked myself because the sales page portrays that he is an expert trader in currencies, stocks and Crypto.
Surely there must be some background info to ascertain his experience since his website is suggesting that he has a fair amount of trading experience.
According to his website, Dan is based in Miami, Florida and has ‘extensive experience’ in managing portfolios.
In the past, he has ‘managed investment portfolios for many people’.
He has also lectured at Miami-Dade College and the University of Miami.
He is also making luxury watches (he refuses to make us see what connection watches have with trading).
However, I ask myself why there is no one coming out to reaffirm what the owner of MyDayTradingTutor is saying on his resume.
Furthermore, it is quite weird that a ‘trading expert’ with ‘extensive experience’ is never willing to disclose his trading performance on his website.
He has refused to publish his track record for trading on his website. Instead, the marketing materials is focused on painting him like a trading guru willing to help investors.
I find this quite fishy.
The Conclusion of Mydaytradingtutor Review
Even though the website has existed for long, there is zero proof of successful trading.
What we can see is absolutely clever marketing where the customer is led to believe that the owner of this company has great things to offer.
Ask yourself why there are no reviews elsewhere concerning this company.
In conclusion, we’re not convinced that MyDayTradingTutor is a good managed accounts provider. Avoid.