Trader2B
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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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Prop Trading Opportunity
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Summary
Trader2B is yet another ‘prop trading’ company with more red flags than the Russian navy. No person will clearly admit to ownership of this company. No verifiable broker-dealer relationship exists with any financial institution.
Customers must deposit $975 to $2,475 into a random brokerage account that can best be described as a financial ‘black hole’ of obfuscation.
Traders are issued trading simulators and then expected to jump through more flaming hoops than a Cirque Du Soleil performance. All for the chance to lose their own money. And if they actually win anything with this rigged arcade of financial disaster? They must promptly pay 50% of supposed earnings to a person that refuses to identify himself.
In the grand pantheon of crappy trading deals, this one ranks as one of the worst of all-time.
The ultimate destination for suckers.
Thanks for reading today’s review of Trader2B
What is Trader2B? The company is offering a ‘prop trading’ opportunity. Essentially, a person pays an upfront fee and is supposedly issued a ‘real’ trading account, that is funded by Trader2B. There are currently two funding opportunities.
Funding Option A:
The first option requires that a person pay an upfront fee of $975 and $250 per month. This fee includes the following:
- 5 educational sessions with a Trader2B education counselor.
- 1-month access to the trading software and live chat room.
- Day trading only.
Each person that participates in Option A is given a maximum daily loss of $40, and a maximum total draw down of $300.
Additionally, a person must also complete a ’30-day test period’ of at least 300 trades (14 trades per day), and earn a minimum of $1,000 after paying trading commissions.
The participant does not keep any of the initial $1,000 potential earnings.
If the participant is able to pass the initial testing period. They will then have their maximum daily loss increased to $250 and maximum total loss is 50% of whatever was earned during the evaluation period.
Funding Option B:
The second option requires that a person pay an upfront fee of $2,475 and $250 per month. This fee includes the following:
- Unlimited educational sessions with a Trader2B education counselor.
- 3-months access to the trading software and live chat room.
- Day trading only.
Each person that participates in Option B is given a maximum daily loss of $50, and a maximum total draw down of $700.
Additionally, a person must also complete a ’30-day test period’ of at least 300 trades (14 trades per day), and earn a minimum of $1,000 after paying trading commissions.
The participant does not keep any of the initial $1,000 potential earnings.
If the participant is able to pass the initial testing period. They will then have their maximum daily loss increased to $250 and maximum total loss is 50% of whatever was earned during the evaluation period.
A critical look at Trader2B
The big question that potential customers of Trader2B should be asking themselves…what is the advantage?
Frankly, I am having a hard time answering this question. Perhaps you can help. Let’s take a look at a scenario A:
Suppose that you pay the upfront fee of $975. What are you really getting in return? Trader2B is simply allowing a person to lose up to $300 of their own money. Trader2B risks nothing.
If the person is somehow lucky enough to earn $1000, with a minimum of 300 trades, over a 30 day period…they get to keep none of these profits.
If any profits are earned, then the person is then allowed to lose 50% of these supposed profits. And they have to also pay an additional $250 per month. And let’s not forget that each trader must also pay commission costs of .30 per 100 shares.
Here is another really big problem…each trader must trade a minimum of 100 shares per trade. And the maximum daily loss is $40. So for example, suppose that you purchase 100 shares of SPY at 240 per share, and the price immediately moves to 239.60, then you just lost $40 and your trading account is closed for the day.
Suppose that you are lucky enough to actually win a trade–with your own money. You must pay 50% of your profits to Trader2B.
Now let’s take a look at funding scenario B. Suppose that you pay $2,475, now you must once again trade a minimum of 300 trades during the first month, earn $1000 (which you get to keep none), your daily maximum loss is $50, and your maximum drawdown is $700.
How is this a good deal? You are paying Trader2B $2,475 for the opportunity to lose $700 of your own money. And if you are lucky enough to actually earn anything, you must pay Trader2B 50% of whatever you earn. Plus you pay Trader2B $250 per month. And you must also pay your own trading commissions.
I just don’t get it. Whom would be stupid enough to give this company $2,475 for the opportunity to lose $700 of THEIR OWN MONEY?
Contacting Trader2B
In spite of this outrageously stupid offering, I decided to press forward and research Trader2B further. My number one question, whom actually owns this company and do they even have a verified brokerage account?
As many readers are aware, I have exposed several of these so-called prop trading firms that allow people to pay a fee, with the opportunity to lose their own money.
With the vast majority of these ‘bucket shops’, the consumer pays a monthly fee to be a ‘prop trader’, but it turns out that the consumer was only trading on a simulator. The consumer, most whom are financially unsophisticated had no idea they were only playing a simulator/video game.
If the consumer is lucky enough to actually win playing the video game, do they get paid? If the amounts are small, then they usually get paid. However, if a consumer is lucky enough to ‘hit the lotto’ they quickly discover that getting paid is nearly impossible.
Example: In 2015, I wrote a review of a ‘bucket shop’ where a person purchased 2000 shares of stock and then almost immediately the company released outsized earnings AND simultaneously they announced that they had been bought out by a larger competitor. The consumer hit the jackpot and earned nearly $70,000 from this black swan event. This was a life changing event for this person. More money than he ever imagined. He attempted to withdraw his funds, but the bucket shop refused and simply deleted the winning trade from his account.
No explanation was given to the customer. The company simply said, “fuck you, we aren’t paying.” The end result is that the customer contacted TradingSchools.Org, and we promptly contacted the SEC and the FBI. It took a couple of years, but the guy behind the company is currently sitting in a jail cell in Los Angeles, Ca. He awaiting sentencing for securities fraud.
Does Trader2B have an actual brokerage account?
During the month of June 2017, TradingSchools.Org reached out to Trader2B and was able to get Bill Choudalos on the telephone regarding a review.
The conversation went OK. And I left open the possibility of writing a positive review of Trader2B. However, any positive review must be accompanied by proof positive that Trader2B actually had a verifiable brokerage account and broker dealer agreement.
Bill Choudalos assured me that all trades were not simulated trades. And that all trades were being executed through a broker dealer relationship. I replied, OK Bill, who is this broker dealer? Where are these trades being routed? Who is the clearing agent? Bill Choudalos replied that he would talk to the owner of the company and he would get back to me. I asked whom actually owned Trader2B, he replied that he was not sure whom actually owned the company.
Bill Choudalos never returned my request for information regarding who owns Trader2B or the broker-dealer relationship.
During the months of June through August 2017, TradingSchools.Org began receiving a steady stream of requests from consumers asking the same question, “Is Trader2B a real company?”
On August 17, 2017 Trader2B send out a marketing email that announced an affiliate program. Basically, anyone that referred customers to Trader2B would be paid an affiliate commission of 15% of any referrals.
As much as TradingSchools.Org loves affiliate programs…I knew it was time to act decisively. Once these sorts of promotions become viral, they can grow very quickly. I needed to figure these guys out quickly.
More red flags than the Russian Navy
Finally, after making several attempts at contacting whoever owns this company, I was able to get a person on the phone named Makram Kebti. Who is Makram Kebti? Does he own Trader2B? That is a good question.
Makram and I went back and forth on the telephone, I just wanted to know who is the owner. He admitted that he might be an owner, but that there were multiple owners. And they all wanted to remain anonymous.
Next, I explained my trouble with ‘bucket shop’ organizations offering a trading opportunity which turned out to be a nothing more than simulated trading.
I simply wanted to know if Trader2B had a verifiable brokerage account, and who is the broker-dealer where these trades are supposedly being cleared. He gave a jumbled answer that can best be described as the Olympics of pretzel logic.
He gave this odd answer about ‘trade secrets’ and that revealing this information was somehow forbidden. Which of course, it is not. He was clearly evasive and entirely uncomfortable with the direction of my questions.
We left the conversation with something about “I will get back to you later.” Truthfully, I doubt if Makram will ever be contacting me again.
Wrapping things up
Let’s go over what we can definitely confirm:
Trader2B is not a ‘prop trading’ company. At least in the traditional sense.
Trader2B is never risking any of their own money. Customers deposit either $975 or $2,475 and are then allowed to lose a maximum of $300 or $700, respectively.
Trader2B customers are required to pay a monthly fee of $250 for software.
If Trader2B customers are able to earn any trading profits, the first $1000 in profits is surrendered to Trader2B.
If any Trader2B customer is able to earn beyond $1000, then they must surrender 50% of any profits.
Trader2B has no verifiable brokerage account, nor any verifiable broker-dealer or clearing relationship with any financial institution.
Trader2B refuses to clearly identify whom actually owns the company, and or affiliated financial parties.
Trader2B is located in Montreal, Quebec…yet will not offer this “opportunity” to anyone in their immediate vicinity. The following quote was taken from their website:
A note to residents of Québec: Residents of Québec are not eligible to participate as Trader2B traders. All applications by Québec residents will not be considered. Should Trader2B determine that a trader is from Québec, their application and/or participation will be terminated promptly.
And finally, Trader2B is offering a sort of carnival of flaming hoops that a person must jump through in order to actually earn money. Most notably, a person must trade a minimum of 100 shares of stock with a maximum daily drawdown of $40 to $50–a nearly impossible feat.
This appears to be an ‘opportunity’ for either the extreme financially desperate or the extremely ignorant. Either way, its a crappy deal for consumers.
Thanks for reading. Make sure to leave a comment below.
I used this platform to learn to trade. But the fact is they are charging you for using my metrics software which tells how you performed when you do trading on their platform. You will access to limited tickers. You have to learn on your own. There is no mentorship. After using it for 6 months I realized this platform is not appropriate for me. So when they called me to renew the subscription I said “NO”. I don’t want to renew my subscription. But they didn’t tell me I have to cancel the subscription in my account. Later, they automatically renewed my subscription because I didn’t cancel under “My Account”. I called them immediately on the same day of renewal to cancel my subscription and refund full amount of “$999”. But instead they were giving me all the offers to retain me. I said I am not happy with this platform and I want to cancel the subscription. But they said we won’t give you refund. After lots of bargain they finally agreed to refund “$850” out of “$999”. They charged me $150″ even though I haven’t used their system. Very bad customer satisfaction. Don’t ever subscribe. Becuase they don’t give you what they advertise.
Sounds like a clone of Anastasios Katsoulakos’ AKFinancials. Usual story of making you pay for ‘training’, offering you the chance to trade a ‘live’ account, then terminating you suddenly for all sorts of flimsy reasons.
2b same as SFG – successor. Really secretive – couldn’t even tell me how much the data was worth every month ..
Something is definitely sketchy as hell with these guys. They wouldn’t even admit to whom owns the company? And where are these supposed trades being cleared? Nope, they cant tell you that either.
Lots of smoke.
Here ..not the best site but ..
https://www.elitetrader.com/et/threads/sfg-trading-the-full-scoop.300956/page-3
Well; futures are cleared (FCM) stocks ..but anyhow ..
Don’t believe the guy who wrote this article — he’s an ex-convict……
Yes, so he knows scammers best.
LOL — you’re going to trust a word this guy says? Then the joke is on you
Looks like the joke’s on you Edward.
I actually just called trader2b and verified most if not all the stuff in this review is correct. The fees are as emmitt said they can’t verify a trader broker and to find out any of this info from their website you have to dig and dig. The fees give you access to their stuff for one month or 3 months respectively, just long enough to find out it’s a scam and they got your money. Thanks emmitt I don’t care what your record is your information was good.
Actually, it’s not all correct. You do not deposit any money into a trading account like the review says. Also, Trader2B allows you to trade a live account. You can’t blame them if they don’t want you to lose their money while you are learning.
Just amazing . For every one of these exposed, there are 5 more that pop up.
What a sewer …
this is a better deal https://www.tradenet.com/
Completely agree.
Yes, TradeNet is CFD, but as far as what they are offering…there is no comparison.
i went with them. Lasted almost 5 mos! I don’t blame them for my failure. tradenet did everything they said they would. 3k gets you 80k buying power, 150/mo for platform (DAS clone), .0055 per shate (Good if you are a piket) chatroom plus educational seminars weekly. i thougt it was good value and was up 2k at one point but i nevet made any withdrawls and eventually gave it all back plus blew up the account. Gambler’s Ruin but no hard feelings.
I went back to Tradenet. Micro size. They gave me 14k buying power w $400. Up $38 net, day 1. I only trade the first 20 mins. Max daily loss s $50 (total piker!) Account max drawdown is $700. I think i will post my PnL here at the end of the month….if i last that long.
Are you kidding me, this dude looks like David Copperfield doing a Vegas show.
Another jerk-off trying to hustle the weak and feable minded …
All the con artist art work on the website , LIVE CHAT, a book, all the bells an whisltes to make it look legit.
What a shit show ..
Watch as I make your 5k disappear into my pocket !!!
yes, cfd “broker” is counting on you going broke. But if you can’t make money with cfd trading (unlimited liquidity, no slipppage) no way will you make $ with a real prop firm. back to sim trading for me! note: cfd trading is sim trading but with real losses ):
I appreciate your extensive review of Trader2b.com. However, the point that you are conveying ideas that may damage another party or its reputation especially growing companies are not tolerable.
I have done my review of Trader2b.com and they are are in fact a real proprietary trading company. The Haywood Trading tool is genuine and you can search for it. As a professional and unbiased reviewer, it might be better if you have done the following:
a.) wait for the party to respond;
b.) have tried it yourself.
As much as I respect my co-reviewers online, a genuine review of a product or service can be done after you have tried it.
I respect you after all.
Well, I certainly appreciate that you took the time to comment. But there are a couple of things…
Heywood Trader is a white label of Orbis. Nothing fancy here. Anyone can purchase a white label trading platform and push data into a simulator. The key is whether there is exchange level interconnectivity. Which I am not seeing.
This ‘prop trading’ company has no verifiable broker-dealer. This is like a house with no floor or foundation. The owner simply refused to answer. And furthermore, whom actually owns this company? Dont you find it strange that nobody is willing to say, “I am the owner.” Who would be foolish enough to willingly sacrifice themselves based on something so flimsy.
The party responded. I attempted to verify this information since last June. How long should I wait? Perhaps another year?
As far as trying to damage the reputation of this company…how so? They are asking people to send a random person thousands of dollars, for the opportunity to lose a small portion of their money. On what is most likely only a simulator.
Yes, I am making a full force attack on this company. It has all the signs of a complete and total scam. Have already been on the phone with SEC this morning.
Well, perhaps Chris is right. Maybe Emmett Moore need some funds so he tries to dereputate other companies.. Hey Emmett, get a life.
Trader2B’s business must be taking a hit after this review, the shills are out in force. Completely absent in their posts is, of course, any proof that Trader2B isn’t just another stock market related fraud.
Emmett goes out of his way to get the information correctly and report it back to the public so an educated decision can be made. He has admitted that he doesn’t always get it perfectly, but he will admit it when wrong and and make retractions.
He helped me with issues that arose without hesitation when he didn’t have to. He was concerned and accurate with which steps to take to protect myself. For what it’s worth, I believe he is doing what he can to make a difference and help the uninformed save their hard earned money. Keep an open mind to what you read from all sides and make an educated decision. Your livelihood depends on it.
I trade with Trader2b. I have traded sims and live with other companies using Level II, and I have traded live and the sim with Trader2b so I know the difference. Their sim trades differently than their live account and I know it’s really live with real money.
Looks like you need to do your homework Chris.
Good job, Chris! Lol,, I am paid biweekly thru Paypal by Trader2b and I don’t know where did Emmett got his data… . . Total frank . . .
If only I lacked a moral compass, I could be the owner of Trader 2B.
Maybe
Maybe the comments are the same people from that comappny Chris