Disliked{quote} I think there are a few things wrong about them. They are committed to produce big omelettes and we don't see where the eggs will come from. They lowered the Phase 1 Profit Target to 6%. With this small target I will not be surprised more than 1/3 subscribers will pass to the funding stage, in particular because some traders act fearlessly and trade huge lots in the evaluation stages, so they can make 6% in a couple of lucky strikes. Assuming that, and that the average paid subscription is $400, we see that each $1200 in payments generate...Ignored
It says in their bio that they originally were supposed to be signal sellers and then joined with a company that turned them into what they are now. It could mean that they came across someone with big pockets that is willing to support them if they screen for good traders. Who knows?
In reality, as long as traders get paid their cut, it doesn't matter how these guys run their business.
What firms like this really need is to register with big name accounting firms and declare that they get regularly audited by Price Waterhouse or similar firms in order to build trust.
They probably have retained a financial lawyer who has drafted their terms and conditions. At least there is an arbitration process they offer, but they also limit your legal options too in the terms and conditions. Most traders just want to make money instead of bothering with the legal stuff though.
For any funding company, the lowest priced option is always the best to try. Their lowest option is cheap enough and the terms are doable, however, it is almost a month before Xmas and not the greatest time to trade. Their lowered prices are temporary, almost a 'sale', I'm not sure if I want to go in now. If in Feb/March they have their sale still, I might give a try.
