I see recent updates to the SOT terms and conditions. Well, all these disclaimers have been added by SOT since I started campaigning against their fraudulent practices over a year ago and no doubt as a result of some unwanted attention from the CFTC. I now see SOT is making statements like..
"The chat room is for online educational purposes only. It is not to be misunderstood as a trading room. Such as a room giving signals for trading real money. We request that our students follow our trades using a simulator as we do"
"Do not make actual trades based on information or alerts based on any information from SchoolOfTrade.com nor our live Signal services. The signal service, for which you are enrolling sole purpose, is training."
"By reading this, you hereby agree that you will not make actual trades based on any information, educational alerts or triggers that are posted in any education, via email or discussed via audio/video/text in the chat room"
When I joined SOT most of these disclaimers DID NOT exist and JJ actively represented his Live Trade room as exactly that, a trading room where he personally traded a live account and gave out live trading signals to the members.
JJ promoted this service with publicised profit results that he maintained were real. He always maintained he traded a live account when asked. This is what I paid to join.
When I was a member in the Live Trade room, JJ would always say stuff like,
"if you take 2 losses in a row switch back to SIM trading, this is money management we need to preserve our capital at all times"
"once you have made your daily profit goal switch back to SIM trading, no point giving back all that hard earned cash to the markets"
Is it legal to open a live trade room and make all kinds of promises and misleading statements and then have some small print as terms and conditions hidden at the bottom of your site that completely contradicts what you are doing and saying in that room?
Can you con people for a decade and then just suddenly change your story from being a "Live Trade Room with Live Signals" to "the sole purpose is training" ?
Are SOT not now openly admitting in their T&C exactly what I have been saying since the start of this thread?
What about all the people that already handed over money their money to this scam artist prior to these new disclaimers being issued, surely my case is now proven beyond doubt?