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Gann Trader Review: Is GannTrader a Scam?

Gann Trader Review: Is GannTrader a Scam?

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The slogan of Gann Trader (formerly Gann Edge) education website is “Pushing the envelope on Gann Based Analysis for over 20 years.” The website in question is owned by W.D Gann or at least that is the claim on this website. W.D Gann has posted his biography on the Gann Trader website to make traders marvel at how great his trading education is.

“W.D. Gann, a master of Wall Street in the early 20th century, combined mathematics, geometry and cyclical analysis to consistently make a profit during some of the most volatile market environments of the day. In 1929 many of his contemporaries suffered significant losses as the Great Depression began. Gann’s techniques allowed him to not only predict one of the largest market crashes seen, but to profit from it as well. The fact that his techniques are used by so many traders and investors today, over 50 years after his death, is evidence enough of his enormous contribution.”

With this kind of Biography, one might believe that learning Gann techniques from a website like Gann Trader is the best decision one can make.

N/B: These trading products have been used by the community for a long time. If learning how to trade is not your thing, please take a minute and go through the page.

Does anyone remember the following frauds: Bounce Trade, XMA Trading and EZ Futures Trading

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Well, if you were not scammed by them from 2009 – 2019, then this is your opportunity to be ripped off by the latest derivation: Gann Trader Futures Trading. For several years, I have been writing about this swindler with more fake names than a Russian spy. He constantly reappers on Online Traders Central offering a “money back guarantee.” Which of course, is a total scam. Once again, a boatload of victims emerges. The latest reporting only a few days ago.

Gann Trader Review

Thanks for reading today’s review of GannEdge. Gann Trader is selling a futures day trading program for $2,495. The sales pitch is simple and effective. The consumer purchases the software predicated upon the supposed amazing track record of $1k-$2k per week in Futures trading profits. The consumer is lead to believe that if they purchase the software, and simply ‘copy/paste’ the trades of the moderator, then profits are virtually guaranteed. The website discloses zero losses.

The ‘hook’ is the supposed “Money Back Guarantee.” How does it work? The consumer is instructed to simply copy the live trades of the trading room moderator, if the consumer cannot copy the trades, then they simply request a full refund within 30-days.

Consumers discover the Gann Trader website through the Online Trader Central website in a free webinar. Online Trader Central is a company that ‘pumps’ nearly every fraudulent trading company that this website has written about. Online Trader Central charges a fee of $850 to the vendor to promote the event through spam email marketing.

Once the victim views the webinar at Online Trader Central, they will usually look for additional ‘social proof’ that the company is legitimate. Indeed, this additional social proof can be found through Dr. Dean Handley where he declares that “Gann Edge is truthful, transparent, and profitable.” What Dr. Dean Handley is not disclosing is that Gann Trader is paying him several hundred dollars each month for his corny endorsement.

Gann Trader is a SCAM

GannTrader is simply the latest in a long stream of scams being offered by the exact same entities. Truth be told, I do not know the true name of the person or person’s running this scam.

However, the entity running the GannTrader website also offered a fraudulent website that we exposed in 2015. This website was named XMA Trading. Shortly after we published our article, the website quickly disappeared. Prior to XMA Trading, there was Bounce Trade, this website also disappeared.

After XMA Trading was exposed as a fraud and disappeared, they reemerged yet again as EZ Futures Trading. On June 21, 2018, valforex yet again exposed this fraud and reported the incident to the CFTC. Shortly thereafter, the EZ Futures Trading website was pulled and they quickly disappeared yet again.

During December 2018, this entity reappeared yet again — as GannEdge.

All of these websites follow the same model…

  • Step 1 is Online Trader Central to promote a webinar. Offer a money back guarantee.
  • Step 2 is pay a social media influencer ‘Dean Handley’ or post fake online reviews.
  • Step 3 is sell as much as possible.
  • Step 4 is to disappear once consumers start requesting refunds.

Multiple Complaints Filed

Valforex has received dozens of complaints from consumers about this fraud. In fact, only several days ago, we received yet another complaint from a consumer located in Illinois.

This consumer describes the following incident:

  • During the month of October 2018, after watching the Online Trader Central webinar, he “took the bait” on the money back guarantee.
  • His confidence was bolstered by the Dr. Dean Handley endorsement.
  • He copied the trades exactly as the moderator within the live trading room. He lost a significant amount of money.
  • The moderator of GannTrader posted a profit of $1,265 for the same period. The consumer then realized that he had been scammed.
  • The consumer then requests to execute the “refund guarantee.” Gann Trader refuses to refund and tells consumer “go fuck yourself.”
  • Consumer files a complaint with his credit card company. GannEdge then quickly removes the language of the “refund guarantee” in order to defraud the consumer.
  • The credit card company, denies the charge back based upon the modified language of the “refund guarantee.”

Our best advice for you

The simple truth is that writing a derivation of this same tale really disgusts me. The behavior of people within the ‘trading educational’ community is the stuff of financial horrors. It truly amazes me. Writing articles like this gives me an ulcer. And think about the poor guy that got swindled by Gann Trader? How do you think he is feeling?

As usual, we warn the community to stay away from anything presented on Online Trader Central, the entire business model is rotten to the core. Remember to check out good products on this page.

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