As a result of the FTC’s case, Warrior Trading will be required to pay $3 millionto refund consumers and will be prohibited from making baseless claims about the potential for consumers to earn money using their trading strategies. Learn more about your rights as a consumer and how to spot and avoid scams. Find the resources you need to understand how consumer protection law impacts your business. According to the social network for traders complaint, the vast majority of customer accounts actually lost money, with numerous consumers losing thousands of dollars trading on top of the thousands they paid Warrior Trading. The company is prohibited from further violations of the TSR, including making any misrepresentations through telemarketing about investment opportunities, including the earnings potential or amount of risk a consumer might face.
If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware. The Commission vote approving the stipulated final order was 4-0. District Court for the Western District of Massachusetts. Securities and Exchange Commission, Division of Economic and Risk Analysis, Office of Litigation Economics for its invaluable assistance and analysis of the relevant trading data in connection with the Warrior Trading matter. Use our visualizations to explore scam and fraud trends in your state based on reports from consumers like you. Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic.
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- Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic.
- According to the complaint, the vast majority of customer accounts actually lost money, with numerous consumers losing thousands of dollars trading on top of the thousands they paid Warrior Trading.
- Before sharing sensitive information, make sure you’re on a federal government site.
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- Learn more about your rights as a consumer and how to spot and avoid scams.
We work to advance government policies that protect consumers and promote competition. Find legal resources and guidance to understand your business responsibilities and comply with the law. If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices.
About The Ftc
We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. The Federal Trade Commission is cracking down on the Warrior Trading day trading investment scheme for making misleading and unrealistic claims of big investment gains to consumers. The FTC alleges that Warrior Trading and its CEO, Ross Cameron, used those claims to convince consumers to pay hundreds or thousands of dollars for a trading system that ultimately failed to pay off for most customers. Our mission is protecting consumers and competition by preventing anticompetitive, deceptive, and unfair business practices through law enforcement, advocacy, and education without unduly burdening legitimate business activity. Warrior Trading, based in Great Barrington, Mass., promotes day-trading investments online, claiming to sell a trading strategy that will show consumers “how to make a profit in the markets.” From 2018 to 2021, the company made tens of millions of dollars selling its programs online. Day trading is a form of investing where consumers buy and sell stocks over very short intervals throughout the day, hoping to make profit during the very short times in which they may own shares in a particular firm.