February 24, 2024

Covington, WA –News Direct– TechniTrader

It’s Saturday Morning with talk radio shows in full force. Advertisers are bombarding listeners who are retail traders with promotions for stock trading programs, training and group trading schemes.

Most are very pricey. Many start at around $10,000 dollars, others start at $45,000 – 65,000 and a few are as high as $100,000 for a trading system offered with an expensive A-grade business suite.

Some are still trying to sell the once popular red-light/green-light day trading from the 1990s era, but the new twist is day trading e-minis.

The Ponzi schemes are even worse. Traders invest in a system and must pay 10% if they want to leave the group. Or they are all trading as a group or pooling money to trade. OR they are using someone else’s money and taking a cut on any profits they might get lucky enough to make.

There is a plethora of illegal offerings right now and it’s focused on the retail trader, especially the retail day trader.

The SEC has rules and regulations. Someone can’t recommend a stock or tell traders to buy a specific stock unless they are licensed by the SEC to do so.

Educators should have either a CMT designation for the Series 86 license or a CFA designation.

How do you know if you are dealing with a legitimate company for trading platforms, trading systems, trading education or training, etc?

  • The company should be licensed in a state in the US. It should have a business license and a location address.

  • The…

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