According to the Try2bfunded.com website, people who can trade profitably will get funded up to the tune of $100,000 in free money.
Try2bfunded.com is owned and operated by SCORE PRIORITY PRIME PTE. LTD.
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Their “Trader Selection Program” is operated from Singapore while another office is run out of London.
Take note that Try2bfunded requires $100-$300 in monthly fees to keep using their platform.
It has the veneer of legitimacy, but when you look into it carefully, you realize that it is nothing more than an online job scam.
The so-called proprietary trading company is actually not what many people think it is.
So before you pay up, we’d like you to read this Try2bfunded review to get a sneak peak of how things work here.
Note: You can check out these recommendations if you’d like to get started in trading.
This company claims that retail traders can be funded anywhere between $30,000, $50,000 and $100,000 in real money under management.
There are only 3 “qualifying stages involved”. If you pass the trading combine, you will be upgraded to the next stage, thereby exposing you to more trading capital.
As soon as you generate a return of 6%, you will qualify for the second stage where you will choose whether you want to enter a competition with 15 others or not.
Try2bfunded claims that you can trade without risk, and you will also be provided with real market data.
Available markets to trade can be found at NYSE and NASDAQ exchanges.
The process of getting started is as quick as filling a simple online form and choosing a “starting capital balance”.
The bottom line is that you must understand that Try2bfunded.com is not giving away free money.
There’s nothing like free money. That is why you’re paying at least $100 to pass a test and qualify for a “funded account” under management.
These sort of scams are one too many on the internet, and their appeal is irresistible.
When you ask Try2bfunded.com what the purpose of this fee is, they claim that the money goes towards maintaining the platform and paying for data.
Common logic would dictate that someone who is funding you thousands of dollars should easily cover these fees while you trade on their simulator.
How are they going to fund you $100,000 of free money if they still require you to pay $100 upfront?
Try2bfunded.com’s trading simulator
You are essentially paying Try2bfunded.com to access a trading simulator.
This is obviously a shitty deal because all kinds of stock brokers offer demo trading for free anyway.
The only reason why a sucker is opting for Try2bfunded as opposed to other brokers is because the company is promising to award them with “free money”.
This is a mirage, an illusion where as long as the trader is playing by the rules, they keep paying monthly fees, but attaining free money will increasingly get elusive.
Who is the broker?
Try2bfunded.com is quite secretive on this matter. They have a long FAQ page. You’d think you’re reading a novel.
The issue of which stock brokers they are using has not been addresses, and neither have they discussed their broker with the public.
I am therefore worried that the broker involved is probably operating out of a far away land, where any kind of regulatory entity would never reach them.
At this point, I’d like to ask which broker is involved and where this broker is based at.
Secondly, I’d like to ask who is supposedly providing all this funding?
If the company can’t reveal which broker is involved, then it is probably a scam.
The “live accounts” must surely be held somewhere, with a regulated entity.
This is the industry standard. It is the right of every consumer to know this information.
If this information is readily published on the company’s website, we would definitely make a meaningful conclusion.
We’d tell whether genuine trading is involved or someone is trying to bullshit us through a bucket shop.
Bucket shop is an arrangement where victims compete against a brokerage, meaning that as long as the interest of the broker is not the same as that of the trader, the trader will lose money.
The reason why this is harmful (and also one reason you shouldn’t use Try2bFunded) is because you won’t win on the simulator.
Remember that you paid $100 to access this sim and if you can’t win (no matter how good you are), it will be of no use.
Who owns Try2bfunded?
It is owned by Remsha Dzmitry who lives in Singapore.
I searched for this guy’s background but did not find any meaningful information.
It appears he has never been involved in any sort of stock trading or investing.
We can’t tell what sort of qualifications or experience he has when it comes to things related to the stock market.
Hopefully when he reads this review, he will provide some meaningful feedback.
They will tell you all kinds of “advantages” associated with getting involved.
Profits are split on the 60/40 basis. They promise you total transparency and thousands of dollars to keep you pursuing illusion.
There is no live account with live funds in the end. The reason is because Try2bfunded.com is betting that you will lose on the simulator.
But you will pay $100 anyway.
Suppose you win (as some shady reviews have claimed that people win), who will be paying out the winnings?
Where will the money come from? This is a simulator, not a real trading account.
In my view, Try2bfunded.com is a bookmaker that is trying to disguise itself as a proprietary trading company.
Avoid these sort of offers.