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What CR**!!! I have been part of Proact Traders for over a month. And all I have seen is the main guy Scott yapping about how great their system is and how if you don't do their system, you are going to fail in this business. But in the Live Room, for a month they have only taken 4 trades. And ALL 4 trades failed miserably. Generally getting in at the end of a run (which they say not to do). Then blames it on something else, or never talks about that trade again like it never happened.
BTW, their monthly pip counts come from people in their live trading room spouting what they have done. It doesn't matter that there is NOTHING to back it up. But that is what they count. I tested this too. I posted in one week that I had made an incredible 900 pips in the single week and guess what, it was counted. No asking for proof just "hey, lets count that in our totals" BS.
And their charts are not that great either. Most of the time, unless you use their proprietary software you can't trade. So you are screwed if you want to move brokers or use another charting software. You are stuck with them. If you can not trade without the use of a proprietary platform or indicator, you need a new system.
Now on the flip side, there are a few good points that they make in the live trading room. But not worth the price honestly. All the best advice they have to give (which is not much) can be gotten from their YouTube channel for free.
Find something better
I joined ProAct Traders a little over a year ago. Several people on this blog claim that Scott makes bad trade calls. In reality, Scott cannot "call" a trade as he is not a broker. The "free" week is a tease to get people to join. Do not expect to make any money during that week. Also, do not expect to get any valuable information during that week. You get to experience Scott's teaching style.
This program requires lots of WORK (almost as much as a 9-5 job). I have not done the required work :( but I have tripled my account in less than one year. Better than ANY robot would do for me. Some of his "secret" trade set-ups are well known, others are unique. All work to make money.
Scott is selling his market analysis system and his coaching ability. Jerry is selling his software and the quote network. Neither can tell you what to trade nor when to trade it. They are not selling a "get-rich-plan" or a trading service. You must take their tools and information to generate your own trades.
ProAct Traders is NOT a scam. They deliver what they say they will deliver. Just because someone did not receive what they EXPECTED, does not make this a scam. (Use a little logic and check something out before you invest.) For the first time in my life, I am pulling money out of the FX.
As a wise man once told me: "With just a little bit of effort, you can fail." This program takes a lot of effort to succeed. The losers come here and gripe.
I'm amazed that there haven't been more negative reviews of Proact on Forexpeace army> I was a subscriber for 6 months and believed that if I could capture just 20% of their claimed results, I could build a good trading account. That was before I discovered the results are BS. Scott, the head trainer and live room moderator rarely calls live trades and when he does, the majority are losers. The vast majority of the big trades are daily recap trades. In a "live room" with 200- 500 traders, If just 1 trader claims to have achieved 100+ pips on a trade (as a result of following Scott's market recap) then that's enough for it to be included in the results. Even though 200+ other traders didn't get it!!!. Scott routinely ignores losing trades and focuses on the "winners".
Scott claims that the results are Not his, but subscribers in the "live room" but how can anyone verify this ??? I discovered that some in the room were trading demo accounts !!! Try achieving the same results, like the rest of us, in a Live account !! Scott will not show anyone his own account. I've been very disappointed with Proact and consider their claimed results total BS.
I would advise potential subscribers to do due diligence before trading with real money. Also beware of Proact stooges
P.S. It is possible to save UP TO $200/mo by signing up with their broker, FXDD, through CompassFX.com, effectively offsetting their monthly cost down as low as $0.
Check out the details here:
But always to you own due diligence to make sure this broker meets your needs.
2014-04-12 No Rating
@Rob, Milano, Italy
Actually, what you get for $2997 is:
- 3-Day Fast Track Intensive Training (can be repeated as many times as you want - offered 3-4 times/year)
- 2 months free use of software
- 1 year ongoing support in a 30-minute/day Private Analysis/training room before NY session (Mon to Thu only) -- They do NOT call it a TRADING room
- 1 year access to 2hr/day Live training room in NY session (Mon to Thu only)
- 1 year access to 60-minute 1x/week training session (Mon eve)
- 1 year access to 2hour 1x/month training session in Asian market (Thu eve)
- access one-on-one support as needed
BUT to get the most of it all, you will need to pay $200/month (the auto monthly subscription) for the software after the first 2 months.
Also, you will need to pay an additional $100/month, or $300/month, for ongoing access to the daily NY training rooms beyond the first year (another auto monthly subscription).
NOTE: If you do not pay for the software, you no longer get access to the live rooms.
So, first year cost = $2997 + $200/month after 2 months = $4997
If you DO NOT take the 3-Day course, you have 2 options
- for $200/month, get use of the software ONLY (no access to any live rooms)
- for $300/month, get use of software + access to the 2hr/day NY Live session training room and advanced training Monday nights (no access to morning Private Analysis or monthly Asian session room)
If you DO take the 3-day course, you have the same options as above, except that if you opt for the $300/mo option, you also get continued access to the morning Private Analysis and the monthly Asian session rooms
BTW, you can get more details here:
P.S. I have NO affiliation with Proact.com/Forex-Target-Trading.com
I am a long time stocks investor but a newbie on FX trading so, on the 3td of february 2014, I started to follow their week long free intro course and I was impressed for the explanations on how the Big Boys work and that, in following their footprints, it would be profitable.
I could not see why they would not advertise the cost of the actual course they would do after this intro week and why they would not answers the people that would ask that same question in the chat room.
Then on the last day, Friday the 7 of February, when logging in I got a link that, if I would click, I could be assured to have a booking for the limited number of seats in the course.
Since it was not yet a commitment to buy, I clicked.
Later on, I don't remember exactly how, I got a page that showed the cost for a year course,
1 payment of 2997$ including the use of their SW for 2 month.
After that, if one wanted to use their SW, another 200$ /month up to the year.
The whole offer was and is called FastTrack and includes a Bootcamp training and weekly market sessions and personal mentoring (I don't know how this last item works, and if it is an extra) and a kind of premarket trade signals.
The total runs at 5k$ a year I think.
A bit steep for me, so I asked by email if they had a provision for diluting the payment, they did not answer.
The offer would terminate the following day, Saturday 8th February 2014, I felt a bit pushed by time constraints. (Strange tactics, is it not ?)
Never the less it looked a real source of good info so I looked for the cash.
Before committing, though, I looked better at the contract page and, down, in a small rolling window, I found this "small print":
I authorize Forex Target Trading to charge me for the order total. I further affirm that the name and personal information provided on this form are true and correct. I further declare that I have read, understand and accept Breakout Investing business terms as published on their website. By pressing the Submit Order button below, I agree to pay Breakout Investing for the sum of this order and understand that I am opting into an automatic subscription.
We guarantee that we will work hard to produce the best results in our power. We guarantee that we will not give up if the system faces losses or drawdown, but will continue to do whatever we can to make the system a success for all of those involved. We guarantee that we will treat the account that our clients are following with the utmost respect and do our absolute best to provide good results on those respective accounts. We guarantee that we will never charge a client beyond their initial investment if the Master account that the respective client is following has not turned a profit.
If the system has delivered a net profit over a 365 day period from when the client purchased access to the program, an automatic subscription charge will take place.
We cannot guarantee any type of gain or loss on the system. Past performance is not always indicative of future performance, and the system could suffer serious losses without warning; therefore, we can not and do not offer a Refund Guarantee.
U.S. Government Required Disclaimer
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. No information or opinion contained on this site should be taken as a solicitation or offer to buy or sell any currency, equity or other financial instruments or services. Past performance is no indication or guarantee of future performance.
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN."
Wait a second "opting into an automatic subscription" ??
"If the system has delivered a net profit over a 365 day period from when the client purchased access to the program, an automatic subscription charge will take place."
Thus, if they say that their "System" is net positive I am forced to pay another year and so on ??
I promptly sent another email to ask for comfirmation on this clause,
No answer whatsoever.
Well, on Saturday morning 8th February 2014, I decided to call them on the phone.
A gentle lady told me she received other calls by people regarding the same issue but she did not have an answer, she was just helping with the bookings.
She also said, I think, that in due time I would receive a request for opting out of the opting in,
I said, what if I don't receive it because of "unknown technical reasons", then I am hooked ?
She would not know.
I asked to be called back by the principal (Morgan)
leaving my telephone number, my email, saying that I already sent 2 emails but I did not receive any answer.
Guess what, they did not call back and I seriously doubt they will.
Make what you want of all this.
Proact does a lot of bragging so I took them up on their full week offer in the live NY room. 5 fulls days in the room and only 1 trade called ... and yep it what a loser. With horrendous performance like that they should be paying you $300 a month to listen to their rhetoric rather than charging $300 a month. Moreover, no live account. They are the classic, if you cannot trade, them teach your losing system.
Believe me ,if you sign up with ProAct Traders to be fed fish already caught,you are in the wrong place and don`t waste your time runaway quick!!.
But if you are there to learn to catch your own fish and feed yourself for life ,then hang around these guys because they are genuine,commited to support you along the way and they have the best charts,NO LIE!!
I have been with them since 2007 ,it has not been a smooth ride,but believe me learning to trade is not easy!! But with their charts and weekly classes it is much clearer as long as you do the work.
How do you expect to make thousands of $$ in the comfort of your home ,without doing the work???
Guys sign up with ProAct Traders,hang in there, do the work and you will never FEAR OF BEING UNEMPLOYED!!
NB; No affiliation of any inner circle but just a regular subscriber!!
I`ve got extremely bad experiences wit this ProActTraders, their instructions, how to set up a demo account whatever is a big shemozzle. Their `motto` is" why make it simple if you can complicate it", don`t walk, run away from
I have to agree with the last person who post. I was a member for many years. the charts are nothing special and their set ups are bogus.they claim to make pips but when I took their ttrades in the NY live room I always got stopped out LOL. the trades would eventually reach the target but not without getting stopped out. I have it all journalized etc. If your a biginner then fine you will learn something but don't stay too long its a waste. for a price of 200 per month its not worth it.
These guys are major Scam Artists!!!!! They teach a system called target trading that looks good when backtested but it does not work. If it was for real they would be able to trade for money and neither one have a LIVE trading account that they can show although they have both blown a few as well as other peoples money. Just ask them. I have a friend that was on the inside (a partner) and he confirmed all of this. They started with 8 partners and they have kicked all of them out so they can keep all the money they scam people for themselves. They recently teamed up with another well known scammer Jason Fielder that offices in Austin Texas. They are sharing their database with him. These guys couldn't trade their way out of a paper sack. Do not waste your money and time. Both Jerry and Scott cannot show you a trading account, they have both been poser traders for 10 years plus and neither know how to make money in Forex. They sell charts that you can get for free with any broker. The worst part is they are charging an astronomical amount for their mentoring class and it is the biggest scam of all. Scott was with CFG before and he scammed lots of people out of 5k a wack to take his class. Don't be fooled. Scam!! Scam!!! Scam!!!!