Freedom Wealth Group aka Tactic Trading

[fxtrader5]

I agree. Apparently TACTIC TRADING used to be known as FREEDOM WEALTH GROUP until recently. If you do a google search using the phrase:

FREEDOM WEALTH GROUP REVIEWS

or

FREEDOM WEALTH GROUP SCAM

I have found numerous complaints that can be viewed. My thinking is that they changed their name for this reason - to try to hide what people are saying about them. The way I understand it is that a person is required to recruit 3 new paid members in order to maintain membership, that there is a fee if you take them up on their money back guarantee, and that you are not allowed to trade with real money until after the 30 day guarantee period is up. It appears to me that this is nothing more than an MLM sales company and trading is not really their business. Usually it is the people at the top who make the money in an MLM scheme. Also, if everyone who buys the program is also a seller of the program, this of course would meant that everyone who bought it would have a motive to say only good things about it since they are also working as salespeople and are selling the program!!!! And if they have to recruit at least 3 people before trading with real money then they don't really know how much they can really make trading with it because they have not yet started trading with real money and yet they are recruiting others!! This is very comical to me. In fact, to me, this spells one thing S-C-A-M.

Of course, experienced traders know that trading in a demo account is not the same as trading with real money. The fills would not be the same, the entry and exit price would not be the same, slippage would kick in, spreads could be different, market maker prices may be different in a real account than a demo account etc. etc. Thus, a demo account could easily show a profit where the same trade with real money could easily have resulted in a loss. That would explain why a company would not allow people to trade with real money until after the money back guarantee period and after they have recruited more paid members. To me, this is a joke. Apparently the truth and the facts are spelled out in the membership agreement that a person must agree to when signing up. MAKE SURE YOU READ THIS ENTIRE AGREEMENT WORD FOR WORD. It spells it all out very nicely. Most companies hope that you do not read all of it so you are not aware of the facts. I hear that the CFTC and FTC are cracking down on people who are falsely touting returns that are not true to get people to sign up for trading programs. Before I would sign up for such a program, I would require them to send me at least 6 months of brokerage statements from an actual trading account that is NOT a demo account but has been traded with real money and I would never agree to anything that tells me that their trades were hypothetical and have not actually been executed with real funds. Any time you see a HYPOTHETICAL TRADING disclosure, this means that they are not trading with real money. You would have to wonder why? It is real easy to make money in a demo account. My 8 year old can do that. But a real money account is where the difficulty comes in. Most people don't know that until they experience it. They think that there is no difference. Then they find out the hard way. Also, if you sign up with a credit card, make sure you know about all of the fees that you are authorizing them to take out of the card - now and in the future. One last thing. it is not uncommon for a company to try to lure you in with a small amount of money and then once they have you roped in with a small amount, they try to sell you on something more costly that they tell you that you "need" in order to succeed. This is an old trick. Do extensive google searches and read every agreement very carefully. Don't learn the hard way. A fool and his money are soon parted.

 

[mta3000]

I agree. Apparently TACTIC TRADING used to be known as FREEDOM WEALTH GROUP until recently. If you do a google search using the phrase:

FREEDOM WEALTH GROUP REVIEWS

or

FREEDOM WEALTH GROUP SCAM

I have found numerous complaints that can be viewed. My thinking is that they changed their name for this reason - to try to hide what people are saying about them. The way I understand it is that a person is required to recruit 3 new paid members in order to maintain membership, that there is a fee if you take them up on their money back guarantee, and that you are not allowed to trade with real money until after the 30 day guarantee period is up. It appears to me that this is nothing more than an MLM sales company and trading is not really their business. Usually it is the people at the top who make the money in an MLM scheme. Also, if everyone who buys the program is also a seller of the program, this of course would meant that everyone who bought it would have a motive to say only good things about it since they are also working as salespeople and are selling the program!!!! And if they have to recruit at least 3 people before trading with real money then they don't really know how much they can really make trading with it because they have not yet started trading with real money and yet they are recruiting others!! This is very comical to me. In fact, to me, this spells one thing S-C-A-M.

Of course, experienced traders know that trading in a demo account is not the same as trading with real money. The fills would not be the same, the entry and exit price would not be the same, slippage would kick in, spreads could be different, market maker prices may be different in a real account than a demo account etc. etc. Thus, a demo account could easily show a profit where the same trade with real money could easily have resulted in a loss. That would explain why a company would not allow people to trade with real money until after the money back guarantee period and after they have recruited more paid members. To me, this is a joke. Apparently the truth and the facts are spelled out in the membership agreement that a person must agree to when signing up. MAKE SURE YOU READ THIS ENTIRE AGREEMENT WORD FOR WORD. It spells it all out very nicely. Most companies hope that you do not read all of it so you are not aware of the facts. I hear that the CFTC and FTC are cracking down on people who are falsely touting returns that are not true to get people to sign up for trading programs. Before I would sign up for such a program, I would require them to send me at least 6 months of brokerage statements from an actual trading account that is NOT a demo account but has been traded with real money and I would never agree to anything that tells me that their trades were hypothetical and have not actually been executed with real funds. Any time you see a HYPOTHETICAL TRADING disclosure, this means that they are not trading with real money. You would have to wonder why? It is real easy to make money in a demo account. My 8 year old can do that. But a real money account is where the difficulty comes in. Most people don't know that until they experience it. They think that there is no difference. Then they find out the hard way. Also, if you sign up with a credit card, make sure you know about all of the fees that you are authorizing them to take out of the card - now and in the future. One last thing. it is not uncommon for a company to try to lure you in with a small amount of money and then once they have you roped in with a small amount, they try to sell you on something more costly that they tell you that you "need" in order to succeed. This is an old trick. Do extensive google searches and read every agreement very carefully. Don't learn the hard way. A fool and his money are soon parted.

Hi, a newbie to the site & forex trading here offering a few cursory observations based on a website visit, very little research and attending an hr-long mtg. at their office and a webinar. After a little digging on the Utah Secretary of State business registry search website, I discovered that Tactic Trading, a.k.a. the Freedom Wealth Group, apparently has multiple entities running out of the same Pleasant Grove office, including the Trader Solutions Group at Trader Solutions Group . I recently walked into their office into what I thought was going to be a sales presentation and instead inadvertently slipped into a meeting where traders who've already gone live were exchanging trading insights while a fellow named Matt who moderating the discussion from the back while everyone was watching a chart on a projection screen.

The Trader Solutions website lists a $5,995 pkg. that includes 6-wks paper trading, $21 month-to-month membership, & $210 monthly indicator subscription service, and up to 12 wks. of 2 hrs / wk. mentoring, and what they call a "membership funding" program where students of the 6-wk course with a good track record can be entrusted with company funds far in excess of the paltry $1 - $5K of their personal funds, "up to $100,000" to exponentially increase their profits, splitting them 60%/40% with the company. Looking at the Tactic Trading risk disclosure / terms & conditions, I didn't see any mention of a 30-day money-back guarantee.

It looks like they started this "membership funding" thing only as recently as last yr. and I think the traders in the mtg. I walked in on were older recruits who started trading live before the program was implemented rather than successful products of the membership funding program. After the mtg., I talked to a lady named Linda who's been in charge of marketing for 2 yrs. and trades w/ $2500. She introduced me to another fellow named Jeff. He trades with some of his 401(k) money rather than corporate funds and is preparing to become one of their trainers. When I asked Linda why they changed the name to "Trader Solutions Group", she said that "Freedom Wealth Group" didn't really describe what the company did.

I watched one of their webinars this morning hosted by Go to Webinar where it was more of the same of what I saw last night, a moderator's voice-over demonstrating getting into and out of a live trade in real time, describing the meaning of the indicators and trend lines as they popped up on the screen. The webinar was a no comments / no questions format where we could only hear him and watch the screen. It would be interesting to have a parallel forum going during the webinar where viewers could post comments in real time as they watched the webinar though I'm not sure how one would go about setting that up unbeknownst to the company.

After the webinar, the moderator sent out a follow-up email w/ screenshot showing 3 contracts @ $1820 (I don't know if that is $1820 per contract or collectively for the 3 contracts combined amount to $1820) saying "Well, not a great hour [all] together but $187 in that hour also is not terrible."

I may post more cogent, intelligible observations about Tactic Trading / Freedom Wealth Group / Trader Solutions Group should I choose to subscribe to any of their packages.

Thanks to those posters last year who kept this thread alive and gave me a good starting point in my research about the company.

 

[DeniseM]

Has anyone heard of this outfit?

I did a search for both names and didn't find anything.

They claim to have "leading " indicators. They also claim to be the largest day trading group in North America.

It sounds fishy but they claim to have hedge fund managers using their indicators.

I was introduced to FWG aka Tactic Trading, in 2011. I did great in SIM, once I went from SIM to live trading however their indicators were ok. The problem was that they really don't tell newbies that SIM is NOT the same as LIVE trading. ALSO, with a very narrow knowledge base on futures/forex trading(not to mention the fact that they trained people back then to trade without a stop loss) I lost quite a bit of money. I am bound and determined to make all of my money back from the market and after dedication and education and practice I think I am in a better place to make it happen and more poised to do so. If there is anyone out there wanting to learn to trade, I can email you my copies of trading books on pdf file, and a couple of links to point you in the right direction. This is a tough business, and those wanting to jump right in and make a million, you have a lot of learning to do. i created dmorgan dot fwg at gmail when I was trying to get my friends and family to sign up with FWG aka tactic trading. now I use it to send people info to help them educate themselves. TRUST ME WHEN I SAY THIS, TRADING IS NOT EASY MONEY. As with everything in life, being good at something takes knowledge, hard work and dedication. Good luck to those of you looking to make your american dream come true, and don't believe the hype. those people who say they are good are still trading in SIM. ask them for a copy of their Daily P/L statement and I bet they will change their tune.

 

[larz]

TRADING IS NOT EASY MONEY. As with everything in life, being good at something takes knowledge, hard work and dedication. Good luck to those of you looking to make your american dream come true, and don't believe the hype.

You're right, it took me three years of trying to extract money from the markets and live just by my profits in trading. It does requires hardwork and dedication to learn and learn and learn.