The Trader Institute and Global Trade Room
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Honesty
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Quality
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Cost
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Support
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Verified Trades
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User Experience
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Summary
Simon Jousef of Global Trade Room and The Trader Institute are in serious trouble. According to the CFTC, this is a massive fraud.
This Futures day trading educational company and “live” day trading room has been highly promoted by Dr. Dean Handley. In fact, Dr. Dean Handley proclaimed this live trading room as “truthful, transparent, and profitable.” However, CFTC investigators discovered the Simon Jousef has never even had a trading account. Ever.
According to consumers that contacted TradingSchools.Org, and who took Mr. Handley’s advice were funneled into a financial slaughterhouse where they were fleeced for $9k for a “magical magnet” trading indicator and a “live trading room” by Simon Jousef. Consumers quickly discovered that Simon Jousef is a complete and total fraud.
Consumers lost massive sums of money and the CFTC, or Commodity Futures Trading Commission filed a formal complaint alleging multiple counts of commodity fraud.
This is an absolute shit show and yet again gives the financial education industry another black eye. Fraud on an epic scale.
Pros
Absolutely nothing to recommend
Cons
Simon Joseph has never had a trading account
Simon Joseph sold $1.3 million in fraudulent products and services
All of the marketing materials and performance summaries were fraudulently produced
Yet another “Trading Titan” is busted by the CFTC
Thanks for reading today’s review of The Traders Institute
What is The Traders Institute, and what are they selling? According to The Traders Institute website, the company is selling a “live” Futures trading room where the owner of the company, Simon Jousef, proclaims that he is a professional day trader that specializes in day trading the Futures markets.
According to Simon Jousef, he claims to be a multi-millionaire day trader and “one of the top 5 Futures day traders in the world.”
In addition, Simon Jousef claims that while he was studying black holes in space, he discovered a warp in space-time, and that this “time warp” could be applied to financial markets. Mr. Jousef proclaims that he designed some sort of magical mathematical formula called “The Trading Magnet.”
This “trading magnet” as Simon Jousef explains, “contains the same quantum properties as a black hole and it magnetizes prices to the intended target…to the tick.” As a result of having this “secret” knowledge, Simon Jousef claims all manner of whack-a-doodle and he is now a multi-millionaire trader.
The Trader Institute: The Trading Magnet is for SALE!
For only a limited time, you can also purchase the secret code of the “trading magnet” and you can apply this to any Futures market, any time frame, and earn millions of dollars “with ease.” In fact, Mr. Simon Jousef proclaims, “It’s like getting FREE MONEY.” The cost of the “trading magnet” is only $8,900 for lifetime access to the amazing secret code.
Additionally, the lifetime access includes several months of the live trading room, where Simon Jousef claims that he is trading with a live trading account, and earning millions of dollars in the process.
For your viewing pleasure, please behold the majesty of this supposed financial genius…
Simon Jousef, a financial genius or carnival crank?
The Trader Institute: A Two Man Shit Show
Of course, every financial genius needs a trusty sidekick to clean his boots and scrub his toilet. This would be a person named Daryl Swanson, who is affectionity referred to as the sales manager of The Trading Institute. Have a look…
Daryl Swanson, an unwitting stooge?
According to Daryl Swanson, his fascination with the markets began as a small child. While growing up in Minnesota on a farm, he was fascinated by the colorful lights and sounds that emanated from the television and daily financial news. He then began a lifelong quest to learn to trade, but he knew that he needed a “trading mentor.”
In about 2014, he was introduced to Simon Jousef and was incredibly impressed with Simon Jousef’s impeccable and 100% verifiable track record of Futures trades. As Daryl Swanson opines on The Trader Institute website, “the Trading Magnet definitely works” and “I am very honored to be given the secret to unlimited shrimp cocktail, oops I mean financial success.”
After kissing Simon Jousef’s ass profusely over a 4 year period, he was offered the coveted position of sales manager and assigned with the task of bringing wealth and unlimited prosperity to the masses.
The Trader Institute: A Three Man Clown Show
Of course, every financial huckster needs a good marketing channel. And when it comes to Futures trading, nobody is more notorious than Dr. Dean Handley.
April, get me a sausage!
Dr. Dean Handley claims that he is the worlds foremost expert on live Futures trading rooms. In fact, many thousands of people have dearly clung to his supposed reviews. And as a result, many people believe this bozo with the religious fervor of a TV preacher.
In fact, Dr. Dean Handley arguably “sells” a supposedly highly coveted plastic trinket called the “Titans Of Trading” trading award. Dean claims that he individually views and records the live trades within a live trading room, and then issues a bold proclamation whether the consumer should purchase the product, or avoid the product.
With regards to Simon Jousef, our good doctor bestowed his highest honors and proclaimed that “Simon Jousef is a Trading Titan. He is truthful, transparent, and profitable!” As a result, a trading trinket was issued to Simon Jousef. Have a look…
You can be a Trade Titan for only $299 per month!
The Trader Institute: It’s all a fraud
Back in 2015, TradingSchools.Org exposed this triple trifecta for what it truly is — a complete and total fraud. You can read our original review about Simon Jousef, Dean Handley, and Bob “Bang Bang” Amico here.
In that review, we stated the obvious and presented highly detailed evidence that investors were being scammed. Included were videos, spreadsheets, and consumer testimonials of person’s that had been scammed.
We recommended that consumers immediately begin filing complaints directly with the CFTC, or the Commodity Futures Trading Commission.
Apparently, the CFTC heard the cries of the people who were scammed and began to investigate.
The Commodity Futures Trading Commission lowers the BOOM.
On September 10, 2019, the CFTC filed a formal complaint alleging fraud against Simon Jousef. In the complaint, the CFTC investigated Simon Jousef and discovered the following:
- From 2014 to 2016, Simon Jousef sold 300 consumers a total of $1,300,000 in live trading room subscriptions and magical magnet trading indicators.
- That Simon Jousef claimed to be trading “live.” Yet, the CFTC discovered that he never even had a trading account.
- That he lied to the National Futures Association…repeatedly.
- He lied to the public and was not a registered Commodity Trading Advisor.
- That he had never earned a profit trading Futures or Forex.
- All of the customer testimonials were fraudulent.
- The spreadsheet of supposed “real” trades were all fraudulently created.
- The 90% supposed win rate was fraudulent.
- The email marketing claiming “free money” and that “I have not had a losing day in three years” was a lie.
Did I mention that the CFTC discovered that Simon Jousef has never even had a live trading account? It was all a scam, according to the CFTC.
As a result, Mr. Simon Jousef has been charged with the following:
- Count One: Commodity Trading Advisory Fraud
- Count Two: Commodity Fraud, Deceptive Device, Fraudulent Scheme
- Count Three: Failure to Provide Disclosures Regarding Testimonials
- Count Four: Failure to Provide Disclosures Regarding Simulated Performance
- Count Five: False or Misleading Statements
As you can read, this is a very serious regulatory action. At this stage, these are all just allegations, however, the completed investigation is absolutely damning. For those that are interested in the exact wording of the complaint, I have included the court filing below…
The Trader Institute Simon JousefWrapping things up
Commodity trading fraud is serious business. It remains to be seen whether Simon Jousef will be indicted by the US Attorney. If he is indicted, I would suspect a lengthy prison sentence.
However, at this point, we don’t really know if the US Attorney has already opened a criminal investigation. Typically, these sorts of mass frauds begin with the CFTC and then are referred to the US Attorney for a possible criminal indictment.
My suspicion is that Simon Jousef is in very serious jeopardy. And the people that helped perpetrate this fraud are also under investigation. But this is just speculation.
Thanks for reading.
This must be from the slime ball Simon himself.
Dr (as he loves to remind us) Dean Handley PhD, JD, BS for bullshit artist himself deserves to be indicted for leading lambs to the slaughter for a few dollars from Jousef.
https://financefeeds.com/court-approves-cftcs-settlement-futuresfx-simon-jousef/
Court approves CFTC’s settlement with FuturesFX and Simon Jousef
“The defendants agree to pay, jointly and severally, restitution in the amount of $1,300,000, representing the gains received in connection with such violations, plus post-judgment interest. The defendants will also hav to pay, jointly and severally, a civil monetary penalty in the amount of $450,000, plus post-judgment interest. “
can we request our money back? if affirmative from where?
James
Write to CFTC and ask about how much has been recovered. The more of us write the better. It may be early days, the court order was passed end of April. I am hoping for some guidance from Emmett, indeed I am hoping he will write a new chapter on this particular fraud. Emmett?
https://fxdailyreport.com/cftc-fines-futuresfx-and-simon-jousef-with-1-3m-restitution/
Have a look at this. Simon may face:
Proposed Penalties Of more than $1.7 Million Total
General Prohibition Of Financial Activities
So if he is prohibited from working in trading what will happen to all the suckers who bought The Trader Institute membership? They will be deprived a daily pleasure of listening to Simon never mind spared the losses. But will they be included in restitution given that CFTC charges relate to the time before he re-branded?
I hung out in Simon’s trading room a few years ago. At that time he said he was a physicist who once spent weeks alone inside his home office in the pursuit of a trading holy grail. His family had to feed him once a day thru a hole at the bottom of the door.
One day, he finally came out and back to civilization and, like magic, his famous MAGNET concept was born. I ran away from Jousef as fast as I could (after a year) and that was the best decision I ever made regarding my trading career.
I was also contacted recently by the CFTC regarding Simon’s scams and I’m glad they got him. His magnet crap is simply S/R. His donchian channel and his lines are free on NT and his market profile is free on Big Mike under Gomi ladder.
I lost about 10k + subscriptions fee and wasted my time while trading with this clown.
Hey guys, I have been in the GTR around 2010-2011 – is there any possibility of having my money returned in case they are found guilty? Back in my days, it was only Simon and it cost around 2.5K. Thanks.
Stephen
We are shaking in our boots.
Download this file off the internet (just google it, I can’t upload it here)
enffuturesfxsimoncomplaint091019.pdf
Read it carefully and get your head out of your ass.
Yes, Simon should definitely sue everyone. He should start with me. Especially me.
Geez Stephen, did you read the CFTC complaint? Its incredible. Let me remind you what CFTC investigators discovered…
On September 10, 2019, the CFTC filed a formal complaint alleging fraud against Simon Jousef. In the complaint, the CFTC investigated Simon Jousef and discovered the following:
From 2014 to 2016, Simon Jousef sold 300 consumers a total of $1,300,000 in live trading room subscriptions and magical magnet trading indicators.
That Simon Jousef claimed to be trading “live.” Yet, the CFTC discovered that he never even had a trading account.
That he lied to the National Futures Association…repeatedly.
He lied to the public and was not a registered Commodity Trading Advisor.
That he had never earned a profit trading Futures or Forex.
All of the customer testimonials were fraudulent.
The spreadsheet of supposed “real” trades were all fraudulently created.
The 90% supposed win rate was fraudulent.
The email marketing claiming “free money” and that “I have not had a losing day in three years” was a lie.
Additionally, he was charged by the Commodity Futures Trading Commission with the following:
Count One: Commodity Trading Advisory Fraud
Count Two: Commodity Fraud, Deceptive Device, Fraudulent Scheme
Count Three: Failure to Provide Disclosures Regarding Testimonials
Count Four: Failure to Provide Disclosures Regarding Simulated Performance
Count Five: False or Misleading Statements
And, he might be charged by the US Attorney and be extradited. Simon is in huge trouble. He is a fraud.
How can Amico be in the trading business being convicted of fraud?
The bigger question is how in the world did Dean Handley give such a glowing endorsement of Bob? That is just mind-blowing.
Truth be told, I don’t really have a big issue with Bob and his past criminal activity. I know what it’s like to be a convicted criminal, so I tend to be a little more forgiving for the damned.
But if Bob is really legit..why not just post account statements? And Dean Handley could have also requested account statements from Bob. Apparently, he never did.
The whole thing is sordid.
Question is: are Simon and his wife (who lent her name to the scam business) the only ones implicated in the trial? Will CTFC also prosecute those that helped him or promoted him and no doubt shared the profit? (Handley, Amico, Sandy Sehgal, Dimitri)
Dean has a BS for Bullshit. So many people trusted him and he just funnelled them to their downfall.
Emmett he posted a video slating you on youtube and paid reviews, what is his beef with you and why does he keep bringing up your past when you have been transparent about it?
What happened to Dean is pretty sad. His reviews were the reason why I started doing reviews. I just thought I could do a better job than he could.
Yes, I am aware he likes to pick on me with his YouTube videos, etc. But hey, its the truth. I cannot complain about the truth regarding my criminal conviction — it’s just part of who I am.
As far as being paid for reviews, on every single review in which I receive compensation — it’s fully disclosed. However, many of the positive reviews that I have written have received no compensation.
Further, you cannot “buy” a positive review. The only other time I have removed reviews is because of litigation and I just don’t want to fight every lawsuit. Nobody makes money getting sued unless you are an attorney.
What happened to Dean Handley?
Wasn’t Bang Bang Bob BOT Amico another amigo with this crew?
Lol, Bob’s bot is already in cahoots with Handley in their joint “venture”. From Handley’s .pdf “review” of the bot: (436dc894-bc85-4e19-8d3f-ab27f3a3a160.filesusr.com/ugd/cc5378_88c9911718b248c78b05cde5138f1a4a.pdf) to the bot site (which has the same design as veritas): (www.targetstradingpro.com/)
https://i.imgur.com/YhMW85C.jpg
Simon paid Handley for the fake review. Bob “boom boom” Amico also pays Handley for sponsorships.
Amico is convicted felon turned futures trading guru. He also is a world class paper trader, just like his mentor, Simon.
Lets make the CFTC know that Handley and Amico are also ripoff scum that should be investigated for serious crimes.
We all know Handley is a dirt bag thief from his horrid history of lying to the FDA and putting consumers at risk of dying by promoting bogus drugs.
https://casetext.com/case/in-re-sepracor
The conviction seemed to be for real estate fraud, so likely Amico can still run a shamshow trading room like most of the scam vendors without any credentials or proof of live trading. I think there needs to be a review proper of Veritas on TS eventually. Too many newbs are asking about Veritas on trading forums and on reddit. (like they or shills on reddit don’t mention Warrior Trading and Ross or Petra Cess enough already every month). The myriad “testimonials” on the veritas site needs to be exposed for the fake actor crap that it is. The room costs more, the stupid amico bot costs just the same or more as any other shamshow charging for expensive “bots” in the past. And he has long ditched showing the dom anymore (and probably ditched the few (choen) just-for-show instances of trading live when under initial scrutiny of his new room) since the TS spotlight moved on , as he churns more newbs to losing accounts. Imo, Amico already blew his secondary chances being a scammer goon, room mod for Slymon during that investigated period of millions duped from newbs, and now going full on shamshow with Veritas currently, probably vigged with Handley as a grand “teton”.
Handley is a scumbag “reviewer”. The “tradingfuturesinaction” already proved in the “kitchen video” (www.youtube.com/watch?v=WYSkTPaHEh8) where Handley proposes a vig deal to give a good review or to join the titans which ridiculously Handley tries to smokescreen it as some ‘Alex wasi-wasi-Wasilesky’ repeated nonsense. I doubt “proof” even matters to him when he gets the vig and he’ll just put up an upslope p/l diagram for a moment and vaguely call it “proof”. He promotes and reviews “Trading for Greatness” well, without mentioning it’s run by his wife, so it’s practically his own family run trading room. At least Emmett has only approved of “breakeveners” who trade live. True one won’t get to the trading dream everyone had, learning from them, but they’ll at least get exposure to live trading and the real challenges that come from it to stay breakeven and not just keep losing in a shamshow hamster-wheel carrot stick room.
So it’s finally happened. Lets hope indeed that it becomes a criminal investigation as well as CFTC-filed complaint.
Well done guys – Tom, Rob B, dtchurn, Bill, Jon, Tricia, Barry K and many others whose names I am sorry I did not mention. And of course Emmett.
Over 2015 and 2016 we basically were a small army of people who stood up to Simon Jousef/ Dean Handley fraud and fought it out in his trading room (till we got booted) and chiefly on this website. And it hasn’t been easy. We suffered insults from Simon’s shills, name-calling, we were put down by people who asserted were were stupid and incapable or unwilling to learn Simon’s “trading strategy”. I was told I claimed “false titles” ( I am a medical doctor) and advised “to get a job”.
After posting original damning review of Global Trade Room (now The Trader Institute ) in 2015, Emmett posted an update (now removed) which was supposed to give Simon a chance to redeem himself and prove his trades live. This has never happened and no wonder as Simon never had a trading account as we now know. I admit I was upset with Emmett for doing this. But let’s remember that had Emmett never started this website the scammers would never have been caught. It’s a very large task sorting this industry but this website has been invaluable.
Nadina S
nadina@doctors.org.uk
Congrats Dr. Nadina, you , and the others who stood up to slymon and his cronies are completely vindicated. So confirmed by the glaring fact that he and his cronies never traded live all this time, also reconfirming my suspicions 99.9% of these shamshows have stopped trading live a long time ago often with losing accounts if any, like SchoolOfTrade. I’ll repeat a story I heard on bigmike’s a long time ago of a former vendor who admitted once the money started rolling in from monthly churning and fooling of newbs, the temptation to stop the live losing trading and just depend on the siphoned newbs was overwhelming. It was also a particularly greedy scam charging multiple thousands on average for info basically free now on the web and yt.
So well summarized. I only wish to add that Bob Amico was a pointman of slymon’s goons during that period that is investigation and of course the period is not the complete scamming history of GTR. So Amico hopefully gets his comeuppance too and it can be seen now how bs and laughable was his defense of GTR and his new trading room back in the old comments and the red baseball cap under sewer basement video. The new trading room is the same crap again, using multiple sim windows, hardly showing the dom and fudging fake sim profit numbers again. Now charging in the thousands again for worthless crap and hotdog packages, such as a special new auto-indicator. And oh, in case you hadn’t heard, Amico was a former felon who still owes over $20 million in restitution for a mortgage fraud, one of the biggest ever in the state of the crime.
Completely agreed if this site of Emmett’s never happened, the majority of these scams would likely never have to worry about being caught since most other so called review places can be bought off and the media web narrative so manipulated paid with funds from the victims i.e. Warrior and Sykes as major examples. It’s still a little effect and too many monthly newbs miss out on this site before they get churned, but TS has definitely had an impact and helped this decade with basic due diligence and trustful reporting.
Finally delivered ... Great job ..
Bravo ….
Its been a long time coming , and It couldnt happen to a bigger arrogant Prick then “Three Tick Simon, Symon, Slym-mon” ..
This prick been slithering through cracks far too long, and hopefully he gets an orange jump suit and married to the biggest, ugliest scumbag with the most cigarettes …
Good job Emmett , and love that picture of Handley in that Ralph Kramden kitchen .. another arrogant prick …
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I am afraid we have not heard the last of this…the CFTC is just getting started. So many threads are going to be pulled on this one.
Let’s keep it real? .. I dunno what c/woulda happened since, but, from my experience, with him (and yes I been) in the room (trial) he is a physicist – many have engineering backgrounds – and the magnet bit is true but so is settlement (price magnet), never saw any hype as such as ‘The Trading x”
Ya, this is like Bernstein (who btw didn’t get busted by the NFA it was promotional material akin to a typo) and then the CBOT still decide to feature him 2yrs later in their manual? Aha .. ye(e)a 😀 ..
The cost was there was nothing to the tune of 10k ..
Emmett you’ve scorched some good bad apples,wtf is this ..?
It’s v simple; take a trial and verify the trades yourself ..I notice this was 2014-2016 ..yeah; like Jake ..dated. I’m writing 2017-.
(What do we see Jousef as? Did I mention Jesus 😀 no reference to my handle at all .. lol.)
I see you removed the update; he did say /refused (couldn’t) answer a question at one point said then he’d get audited ..but the only vibes i’ve been getting from him are positive. ..
passing yourself off as a CTA is , not only serious it’s downright stupid if you’re not ..
I’d choose Tony Robbins over Jack Schwager ..
On this review…the scorching was well deserved. Simon lied, and he lied repeatedly. CFTC and NFA investigators went right to the core — he never even had a trading account. That in itself is outrageous.
On a side note, Simon continues to lie about his name. Example, he continually changes the spelling of his name in an attempt, to yet again, fool consumers and the search engines. Just yesterday, on his website, he changed his name to Symon Joseph from Simon Jousef. A few years ago, it was Simon Joseph.
He does not want people to know the truth. And quite frankly, he scammed me as well. A couple of years ago, he had a sweet-talking lawyer call me (I recorded the conversation) and he told me “Simon trades with a live trading account and I can show you.” Normally, lawyers don’t lie. But his lawyer flat fucking lied to me.
At this point, I am sick and tired of dealing with Federal subpoenas regarding Simon Jousef, Bob Amico, Sandy Seghal, Dean Handley and Kai Whitney (all parties involved). Federal investigations are a big time suck for me because I have to put all the evidence together (emails, video recordings, phone recordings, notes, spreadsheets, etc.)
The big question is whether this case gets picked up by the Justice Department and referred for criminal investigation. It should be. This is clear cut fraud.
Ya, like the smug fck CEO of Google Singh who flatout lied to congress ..
Thank you for your efforts
Can I ask , what is your opinion/vision on what trading should be? ..
Happy these rats have finally been caught!
”April get me a sausage” Hahahahahah!!