Is Day Trading Academy A Scam?
When you search on the internet for ways to make money online, you will be met with literally millions of search results, and a good chunk of those results would recommend you a product claiming the same thing – it would help you earn money online. With so many products claiming the same thing, how can you be certain if what they’re saying is even true? While very few, there are legitimate money making opportunities online. If you know where to look, and what to look for, you can easily filter out the good products among the bad ones. This website specializes in such. I have reviewed hundreds of money making products before and I have learned quite a lot which allowed me to identify if a product is legit or not.
Today, we’re going to review a product called Day Trading Academy (DTA) which is a Forex trading opportunity that claims to help you make money day trading in the Forex market. As a refresher, Forex or foreign exchange market is the trading of currencies all over the world. The goal is to buy low, sell high – similar to the goal of stock trading, mostly. This product or program DTA claims to have found a system to help you earn money almost always. It claims to have the ability to help you with your trades to get you favorable returns the majority of the time. How true are these claims? We’re going to examine now and check whether these claims have any merits or just plain lies to sell you a program.
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What Exactly Is Day Trading Academy?
Day Trading Academy is not exactly a program but a course, hence the “academy” name, that provides you an opportunity to learn the ins and outs of the Forex trading. They claim to teach you the ways of the market, making sure that your trades will give out favorable results most of the time. This course, as they claim, will be responsible for much of your profit, provided that you follow their guidelines on the course.
The way it works is it will give you a go-ahead signal of when to buy and sell currencies using their specialized prediction system. This system was created by Marcello Arrambide, a well-known day trader in the Forex market. He has been featured a lot in finance articles and magazines, and even on CNN. Rest assured, this is a real person with a solid background and qualifications.
The actual mechanism behind the recommendations behind this program is still unknown, and many suggest that it is mostly guesswork by the creator of the program. Granted, even if all of it is guess works, they are still the guess of a long-time entrepreneur and a professional Forex day trader, Marcello Arrambide. Needless to say, trusting the program is synonymous with trusting Mr. Arrambide and his recommendations. If you think his predictions are worth the price of this product, then go for it.
How Does Day Trading Academy Work?
Day Trading Academy is basically a course and a trading platform for Forex trading. It allows you to make trades using your knowledge gained through the course, and hopefully turn a profit.
One good thing about DTA is they aren’t run by bots and a bunch of automated software. They are run by real people that are still actively trading on their time, which makes it a personal affair. You can ask them questions and give suggestions if you like. They provide seminars and meetings to their members.
What Do You Get From The Program?
Day Trading Academy divides its courses with 4 phases – Beginner, Intermediate, Advanced, and Pro. The distinction between the four phases is pretty apparent – you move through the program and training gets more stringent.
One negative thing about DTA is they don’t disclose the cost of membership on their website. But when you input your email on their newsletter or email gathering system, you will be offered with 4 membership options: Gold Achiever, Diamond Elite, Military Training University, and Military Training. Looking at the names, there isn’t much distinction at all, but it’s pretty obvious that the prices will differ depending on the program you will get.
**In my research, it seems like the price of admission would be close to $2,000 the first year and a recurring monthly payments of $150 after.
Whether this price is accurate or not, this is right around the pricing for other Forex market courses, which tells me that this is right about the range of the price.
Honest Thoughts About Day Trading Academy
- It is a good beginner course
A lot of people are saying that DTA is actually a great resource especially if you don’t know anything about Forex Trading. It’s a beginner-friendly program that seems to teach the fundamentals at the beginning before diving into the theories and inner workings of the market. It is one of the better programs out there for beginners.
- You won’t win the majority of your trades
The sales pitch of the course is it will help you earn money on trades majority of the time but reading the reviews, it seems like it is split right down in the middle. There are a lot of people claiming that they keep losing their trades if they follow the recommendations of the program. Some people say otherwise, so which is it? The truth is, Forex trading is a game of risk and guesses. You literally have to guess which currencies will get going using all the information that you can gather. It’s possible that some people are not managing their risks properly. In turn, this subjects them to losing the trades.
- Fake reviews are incentivized
If you search for reviews online, you will see overwhelmingly positive reviews for this program. Wonder why is that? The way they do it is actually very clever with a hint of cunning. Basically, any member that leaves a favorable review would get free one month of access. The training package is actually quite expensive so getting a free one month of access just by leaving a single positive review would almost always be worth it.
- The course is expensive
Based from my research and reading, you would need to spend $2,000 for the first year of membership. You would also pay a recurring $150 every month thereafter. It is on the expensive side of things when you consider the industry. It totally depends on you if you think that what you will get from the program is worth its price. If you deem YES, then go ahead and pay the membership fee.
- They use real people on their training
What’s good about this program is you will be guided by real people and not just some random bot with automated answers. This is quite refreshing since you can contact them and expect a real answer instead of just getting a reply from one of those canned messages from bots.
The Verdict – Do I Recommend This Program?
After learning about the program and its features, I have to say that it’s a tempting proposition since you are able to learn about the Forex market in a fundamental kind of way. However, there are just too many issues surrounding the program for me to make a good recommendation. As expected, I am not recommending this program.
This program is only for those with a lot of money to spare and are looking to get serious with the Forex market trading. Even then, there are still plenty of courses out there that are considerably cheaper and more extensive than this one. The truth is, the course is a touch bit too expensive for the average working person. I can recommend plenty of alternative programs to help you earn money online, and you don’t even have to spend good money on it.
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