Ross Cameron – FTC Takes Action Against Warrior Trading Scam (2023 Update)
Ross Cameron runs Warrior Trading, a scam which makes money through misleading day trading plans. Their predatory business practices have put them in hot water plenty of times.
However, Ross Cameron doesn’t improve the company’s ethics at all.
Before you consider doing business with Ross Cameron or Warrior Trading, be sure to read the following review.
Did You Know?
FTC stands for Federal Trade Commission. The commission enforces several consumer protection laws. However, FTC has some exceptions as banks, insurance firms, air carriers, NGO etc.
‘Misleading’ day trading plan costs Warrior Trading $3 million; Ross Cameron Ordered to Pay
On April 19, the US regulator alleged that Great Barrington, Massachusetts-based Warrior Trading made “misleading and irrational statements” to prospective day trading clients.
Warrior Trading and its CEO Ross Cameron are accused by the Federal Trade Commission of “persuading consumers to pay hundreds or thousands of dollars for a trading market that ultimately failed to pay off for most clients.”
Using online programs, ebooks, a live chat network for members, and “masterclasses,” traders marketed trading strategies to customers. Facebook, YouTube, and Instagram were just a few of the social media sites that were used to advertise the shows.
Online advertisements were used by Ross Cameron’s Warrior Trading as well. Examples given by the regulator include:
- “Learn to Trade With Certainty Towards The Financial Freedom You’ve Always Wanted”
- “Learn How I Made over $101,280.47 in Verified Profits Day Trading Part Time in Under 45 Days Using 3 Simple Strategies that You Can Use Immediately to Increase profits and Reduce Losses NOW!”
- “Start trading over my shoulder side-by-side with me because I guarantee you that next week, the week after, the week after that, I’ll be trading the one or two stocks each day that move up 20 to 30 percent.”
Enforcement Action of Federal Trade Commission
The FTC has the power to take legal action against businesses that violate consumer protection laws, including by engaging in unfair or deceptive conduct or practices, following the FTC Act and the TSR.
The defendants are required to follow the court order that the FTC and Ross Cameron’s Warrior Trading agreed to:
Pay for customer satisfaction: Ross Cameron’s Warrior Trading is required to pay $3 million to customers who were wronged by its exaggerated earnings claims and fake chances.
Stop false earnings claims: The decision forbids the business from falsely stating that customers of its products may succeed in trading regardless of their level of education, the amount of money they have to invest, or the amount of time they spend trading and from making unsupported earnings promises.
Disallow transgressions of TSR: The business is forbidden from committing any more TSR(Total shareholder return) violations, including deceiving customers about investment opportunities through telemarketing, including their likelihood of earning a profit or the degree of risk involved.
The stipulated final order was approved by the Commission with a 4-0 majority. The FTC submitted the proposed order to the Western District of Massachusetts U.S. District Court.
The Commission acknowledges the Division of Economic and Risk Analysis, Office of Litigation Economics of the U.S. Securities and Exchange Commission for its significant help and analysis of the pertinent trading data in connection with the Warrior Trading matter.
The US agency also claimed that “the vast majority of customer accounts lost money, with many individuals losing thousands of dollars trading on top of the thousands they paid Ross Cameron’s Warrior Trading.”
Ross Cameron’s Warrior Trading has been prohibited from making “baseless” statements about the possibility to make money on the stock market using the company’s tactics, according to a court ruling, and is required to pay around $3 million in refunds.
Also, the business is forbidden from ever again “misrepresenting through telemarketing concerning investment alternatives, including the earnings potential or level of risk a client may incur.”
The decision came with a “great expense” for Ross Cameron’s Warrior Trading to pay, according to Samuel Levine, Director of the FTC’s Division of Consumer Protection, and it highlights the agency’s continued “crackdown” on “false profit claims and fake opportunities.”
Now the question arises is Ross Cameron’s Warrior Trading a ‘SCAM’?
Several investors who made investments in Ross Cameron’s Warrior Trading have responded to this question.
#1. An Industry Expert at Brokerchooser mentioned the details below about Ross Cameron’s Warrior Trading investment.
The Federal Trade Commission is cracking down on Ross Cameron’s 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. This is all you need to know.
Read more here: https://www.ftc.gov/news-events/news/press-releases/2022/04/federal-trade-commission-cracks-down-warrior-trading-misleading-consumers-false-investment-promises
Who is Ross Cameron?
Ross Cameron is a well-known day trader who is most known for generating over $10 million in confirmed and audited profits from a meager $ 583.15-day trading account.
He is the creator of Warrior Trading and publishes free educational material on a YouTube channel with more than 1 million subscribers.
All levels of day traders can access the premium members-only community hosted by Warrior Trading, which offers trading tools and courses.
Ross graduated from Vermont College in 2009 with a Bachelor of Arts degree and immediately entered the horrible job market of the Great Recession. Together with his wife and sons, he dwells in the Massachusetts Berkshires.
About Warrior Trading
With our extensive courses instructed by consistently effective traders, Ross Cameron’s Warrior Trading claims to educate students on how to day trade.
A significant online community of active traders and investors is claimed by Warrior Trading. A discussion room for trading ideas and scanners with real-time market data are just a couple of the live trading tools they offer in addition to training materials.
The Day Trading: Tactics and Scaling Course, which lasts over 70 hours, walks students through Cameron Ross’s technique in great depth. Ross integrates everything in this complete course, covering everything from entrances to exits, risk management, pattern recognition, reading level two, and time and sales.
Warrior Trading’s headquarters are located at PO Box 330, Great Barrington, Massachusetts, 01230, United States
Warrior Trading by Ross Cameron is illegal. In cases of legitimate insider trading, the transaction is disclosed to both the corporation and the regulatory body (in India, this would be SEBI). Investors are not at a disadvantage because they have access to this information. Thus, there are no consequences for legitimate insider trading.
Warrior Trading’s top competitors include
- NetPicks LLC, Investors Underground
- Traders International Ltd
- Rockwell Trading
Negative Review for Warrior Trading
According to one of their customer, Warrior Trading is nothing more than a brilliantly performed marketing ploy that takes use psychological manipulation to sell its service to consumers.
It was regret to report that he was a victim of his scam, which he ultimately refrained from using due to its unrealistic nature, which I only learned about after acquiring access to it.
This can be demonstrated by simply seeing how his reviews are submitted; they are all very similarly structured and, generally, express the same message using different semantics.
Furthermore, although Ross enjoys portraying himself as an “ultra-transparent” mentor whose customers’ interests and the accuracy of his “broker-supported” and “audited” assertions come first, this is not the case.
He was also the target of a $3 million lawsuit (for which He recently received a cheque), and it is clear from an examination of the message structure, semantics, and overall message as well as the fact that evaluations are frequently posted in large groups that he hires out his reviews.
He doesn’t know about them, but based on the lawsuit he has filed against him, it appears that not everyone was as pleased with him as he would have you believe.
Searching for “Warrior Trading Litigation” on Google will bring up the lawsuits.
2. According to the following review the client signed up with Warrior in June 2022, and he began day trading aggressively in April of that same year. Before joining, he viewed practically all of the shows on Ross’ YouTube channel, regardless of how old they were.
He started trading with my PDT and was up over $12,000 in about 6 weeks thanks to information he discovered on the Warrior YouTube channel. He lost about $9,000 over four days, a week later.
He fought with whether to keep trading or not, but he knew he had the same capacity for financial success as Ross Cameron and the other Warrior members. He just had to be missing something, something he was not discovered on YouTube. He thus became a Warrior Pro member. His winning trade percentage as of right now, not quite a year later, is 84.5%, while his losing trade percentage is 15.5%; these numbers are from my “TraderView” reports. When you take the course and put it into practice, there is just so much more to learn.
We also know from the entire conversation that Great Barrington, Massachusetts-based Ross Cameron’s Warrior Trading promotes day trading investments online and claims to sell a trading system that will teach customers “how to make a profit in the markets.”
We can assess its value based on the Federal Trade Commission’s reviews and actions.