S&P 500 Futures Trading Group Review: Scam! Warning
S&P 500 Futures Trading Group (sp500trader.com) is a website operated out of the United States, promising financial security from real trading and real support.
The company’s marketing materials proclaim that trading S&P 500 E-mini is profitable because students are only trading one type of security.
Additionally, they offer a live trading room on a daily basis from 10:00am to 12:00pm Eastern Time.
They claim that the reason S&P 500 Futures Trading Group offers a live trading room for students is to show that the company is transparent.
The trading school does not want to disclose its “secret” for trading whatsoever. However, they want to provide you with a live trading room that can teach you how to become a profitable futures trader.
Is S&P 500 Futures Trading Group legit or a scam? We’ll get there shortly. But you can make your work easier by considering these investment recommendations because it’s obvious my observation/experience of S&P 500 Futures Trading Group will result in a negative review.
S&P 500 Futures Trading Group (sp500trader.com) Review
The owner of this trading school has invested in a simple website. Their marketing material is straight to the point except that they shy away from mentioning the price upfront.
They also have a very short F&Q page which is not helpful anyway because the page only contains their phone number and email address.
The company would also like to reiterate on room etiquette since they appear to take this very seriously.
It seems the owner is not willing to accommodate students who will ask all the difficult questions like “where is your track record?” and so on!
I also felt that website was a mere landing page that (sp500trader.com) was using to recruit new members into the trading room.
What I don’t like about S&P 500 Futures Trading Group
While the emphasis is more on how the operators of sp500trader.com are transparent, I feel that the company is actually doing the complete opposite.
For example, the company does not mention prices or fees that are associated with their trading course.
This is a bad thing as students will normally want to know the price of their course material upfront.
Secondly, sp500trader.com does not provide a verifiable trading performance, despite the owner claiming that they are successful.
Usually when you find a website making these claims, there is always a 99.9% chance that the trading educator is a failure who can only make his money from selling trading courses or live trading room subscription.
Why this is actually a raw deal and potentially a scam
They claim that you can follow them as they place their trades.
However, one of the disadvantages of trying to follow a trading educator’s trades is that there will always be a delay between the time you copy the signals and the time you execute it with your broker.
This can mean a big difference and will potentially make you end up with different results.
Also, it can be difficult to establish whether the trading educator is using a live account or a simulator.
S&P 500 Futures Trading Group does make reference to trading on a simulator, which is what we expected from them anyway because if they don’t have verifiable trading performance, the educator can only show you unverified results, hoping that they can extract thousands of dollars from your wallet.
The Conclusion
I don’t believe in trading schools whose owners are 100% secretive and are only inviting you to a live trading room so they can sell you their education material.
They can deny this fact but ultimately, nobody will invite you to these live sessions without asking any form of monetary compensation.
If you have thousands of dollars and you are aware that learning how to become a professional stock trader is daunting, your best bet should be a hedge fund. You can read my review of these guys to learn how they help investors make money from the global financial markets.
Thanks for reading our review of the S&P 500 Futures Trading Group. I do not recommend this trading school whatsoever.
Harry
It is a scam they, want $5,000 up front that is the lowest amount to get started.
Anthony Johnson
Why would that make it a scam? How cheap would you expect it to be?
Jim
I sat thru a session with them and tracked what was going on in a separate live session on the mini S&P they were trading and it seemed legit. New members in the group had mixed results of winners and losers. Harry mentioned $5k, they told me $13k to join. What is actual price?
Nina
It’s a different course level, they have $7500 and even more than $20k. I feel too secrets some how…
Bob A.
Thank you for your revies. As the old saying goes….”If it’s to good to be TRUE Watch out” The fact that the cost is not upfront bothers me.
P C
I’ve joined an introduction session tonight, using Adobe Connect. I couldn’t see all the names of other people joining. The speaker, named BURR, tried to show the graph on E-mini S&P500, the software from TransAct broker. He said he was going to talk about the fees/cost but at the end he didn’t, just ask all to call the reps to sign up and get cost. I agree it’s seems very secretive.
Suzanna
Undoubtedly. And I Also have encountered it.
Let us go over this question.
Anthony Johnson
I sat through the initial class with Burr as well. Seemed to make sense of the basic info given, however, they are not going to give any “in depth” info without paying of course. After the class ended, I was immediately contacted by my rep, and he guided me to the site that listed all of the packages that showed the pricing and what was included. Not sure what anyone is talking about lack of transparency. Didn’t feel that way at all with my experience.
George Swartz
Where can I see a profitable track record of actual trades for the past year? I can’t find anything.