In an advertisement on Facebook in September 2020, Warrior Trading posted, “Learn my strategies for finding the right stocks and managing risk that I used to grow $583 to over $1,000,000!”
“Defendants deceptively promote their day-trading strategies to people with
limited resources and limited trading experience. The Warrior Trading YouTube channel also has a video series titled “My NEW Small Account Challenge” where Cameron “starts over” and states he parlayed $500 he made as an Uber driver into “$53k in 17 days,” according to the consumer protection watchdog in the complaint.
The FTC argued that the defendants’ claims are false, misleading, and unsubstantiated. Many consumers were led to believe that purchasing Warrior Trading programs will make them profitable but in fact, lost thousands of dollars.
The defendants violated the FTC Act and the Telemarketing Sales Rule (TSR) by engaging in deceptive, misleading, and unlawful advertising and selling of day-trading strategies and related services to consumers in the United States.
