WARNING, Tradenet is an ILLEGAL program – review

Tradenet official webIn this review you will learn why you should not buy anything from Tradenet.

Tradenet is supposed to be an educational program that teaches people how to trade financial markets. You allegedly can learn how to make money in trading stocks, CFDs, options, futures and Forex.

The team is lead by Meir Barak, who allegedly is a professional trader. Currently there are four online trading courses that cost between $500 and $9,000. You allegedly can even get a funded trading account so that you don’t risk your own money. Really?

Stay away from Tradenet

The first thing is that you should always be very skeptical when somebody promises you free money. Imagine that you are a professional trader that has a profitable strategy. Will you be begging people to buy your strategy and offering them free money to trade? Of course not!

Illegal operation

Online coursesAnother big red flag is that Tradenet is anonymous and not regulated. Yes, they show some faces, but they don’t provide any address nor regulatory information.

The thing is, Tradenet is educating people on how to trade financial markets. This is pure investment advice, which is a regulated activity.

Because Tradenet is providing support in the US, Canada and UK, it clearly is active on these heavily regulated markets.

Illegal companySo, it needs licences from regulators of the these markets (CFTC, FCA…). But it clearly has no licence whatsoever, which means that it is operating illegally!

Think what you want, but regulation of financial markets is crucial, because it is about your money. Regulators are here to oversee that all the promises are fulfilled, that you won’t lose your money. So, if Tradenet is anonymous and not regulated, they obviously have something to hide.

Fake reviews

You might find a lot of positive reviews of Tradenet on the internet, but we went through some of them and they all were fake. They were made by people who promote Tradenet with affiliate links, which means they get paid for referring new clients to Tradenet.

So, be very careful when judging what Tradenet is really about.


Tradenet is an illegal educational program with a lot of fake reviews, we recommend staying away from it!

We don’t believe that somebody can make you a profitable trader for just a few hundred bucks. The key to success in trading is your own learning, no ready-made system will save you. You can try everything on a free demo with a regulated broker to see how it works.

Don’t trade with real money until you are sure about what you are doing and understand all the risks.

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31 thoughts on “WARNING, Tradenet is an ILLEGAL program – review

  1. Here are a few things that people should be warned about Tradenet. No wonder why the SEC just charged them:https://www.sec.gov/news/press-release/2020-267#.X5he1BQNBTs.twitter

    1. If you blow your account, you will be blocked from the platform and the site. You cannot even look at the trades. In my opinion they do this to prevent you from getting information about their sketchy commission system. You’ll get a “user blocked” message like this http://bit.ly/3vg8KWN. Here is a video about it http://bit.ly/3ldT1Tj.

    2. They give you 100% FALSE information about fees. Here is what they state regarding fees:

    “Trading Expenses and Limits:The current fees in a TEFS Account are $0.006 per share/CFD ($6 per 1,000 shares/CFD) with a minimum of$1.5 per ticket (additional overnight margin and routing fee of $0.0015 apply) (the “Trading Fees”). SuchTrading Fees are determined at the sole discretion of the provider of the technology that powers the TEFSAccounts and is not determined by TEFS. Trading Fees are incurred by Providers in order to reflect the manner in which orders are executed in the equity market (with market access). For the avoidance of doubt, theProvider does not and may not pay the Trading Fees by providing any type of payment to TEFS, but rather theProfits, if any, are reduced by the Trading Fees with respect to the respective Trading Account”

    How do we interpret this? We relate to industry standards. Fees to open a position and free to close, in other words round-trip. This means buying lots of shares and selling lots of shares will generate a $1.5 fee, no matter how you build up and unwrap the position, as long as it is the same ticker (ticket) correct? This is how every other serious broker works: Tastyworks, Interactive brokers, Tradezero, etc.. Well, you are far from the truth.

    First, any person reading this will understand that the fee is ONLY ONCE PER SHARE PER TICKER – not multiplied by the number of orders. It would be correct to say, minimum $1.5 per ticket per order whether to open or to close a position. They don’t do the effort of laying it down for you because making it purposely misleading. The fees aren’t per ticker. In fact, what they call ticket, is not the SYMBOL TICKER, it is the ORDER TICKET. Small difference. This means you will be charged for every hit in the mouse with an order.

    While this blog demystifies how this works, the information you receive to join the program is completely false. Let’s take a closer look. The current fees in a TEFS Account are $0.006 per share/CFD ($6 per 1,000 shares/CFD) with a minimum of$1.5 per ticket.

    This is false. First, the minimum of $1.5 is NOT per ticket. It is per order. So, in fact, the minimum fees per ticket are $3. Profits are only realized after closing a position. Therefore the minimum fees PER TICKER are $3, and this is multiplied by the number of orders TICKET clearly is confused with the symbol name, but not the interpretation they give it, not that they clarify anywhere by written either. Moreover, the term TICKET is only used un futures! https://www.investopedia.com/terms/d/deal_ticket.asp

    Now, what happens in real life. Professional traders enter a position on a breakout, then add at the next consolidation point, then scale a first lot on the next consolidation point, then some more, until the position is fully unveiled.

    What does this mean? If you have a $14.000 account with a max loss of $700, say your risk unit is a 20th of that, so $35 max risk per position.

    Let’s mimic an operation from a professional trader from say SMBU. If you trade a $50 stock with a stop loss of $1 and an expected move of $2, you can only trade 35 shares to fit your maximum risk. Say you enter with 10 shares, then you like it and add 10 more. Finally you add the remaining 5. You close 10 at half the move. You close 5 stocks one by one more somewhere else. Then break even on the rest. What would be the fees generated?

    The fees you think: $1.5 for the whole operation. It is ONE SYMBOL (ticket or ticker), SAME SHARES YOU OPENED, SAME SHARES YOU CLOSE. Therefore, $1.5 which is the minimum.

    The fees they really charge:

    Orders (what they willfully call it ticket when everyone calls it orders):

    1. Open 10 stocks

    2. Open 10 stocks

    3. Open 5 stocks

    4. Close 10 stocks

    5. Close 1 stock

    6. Close 1 stock

    7. Close 1 stock

    8. Close 1 stock

    9. Close 1 stock

    10. Close 10 stocks

    The fees they charge for this operation: 10 x $1.5 = $15. You winnings, somewhere around $15. Your fees, $15. As a result, you end up net 0 in a successful operation on a $14K account.

    3. Which is worse. *you don’t find out about fees until the next day!*. In my case, I ended the day with a net loss of $30 which is less than a risk unit. However, the next day I was charged $234 in “undisclosed” fees. That unpleasant surprise automatically made me try to revenge trade losing some more. When you complain about having been given misleading information about fees, they will insult you and lie saying that they explained it fully. If that were the case, why is it not published in written form in a clear manner like every other broker does? Think about it.

    4. YOU LOSE. By the time your account starts to drain, it is by fees, and before you realize the account is closed. Only you lose. This is true at least with the 14K account.

    5. APPLYING TO THE WARRANTY MEANS INSULTS AND BEING BANNED. Even when they made the money from you off fees, they will still insult and yell at you on the phone, literally, alleging that you have “ABUSED” the account. If you complain about this or ask for a refund, they will insult you and treat you like unworthy, literally. They will let you know that you have been banned from Tradenet services in the future once and forever. They do this with a demeaning and cocky attitude. They state false allegations such as that you failed to do this or that but it is nonsense

    6. THEY WILL TALK YOU DOWN. If you are a seasoned trader and bring up your techniques in the trading room, you will be stigmatized. You are not there to think. You can’t shine. You are there to follow and continue to support the magnificent image built around Meir Barak. I was talked down by Mair. He told me in the trading room WHAT ARE YOU DOING HERE! because I used a trailing stop. This is in no way a healthy environment.

    7. For all I know the 14K account program could initially be a paper account in a Ponzi scheme. There is no even record of your own trades or the fees charged on your account before they kick you out.

    8. Censorship through all social media. Have you ever seen people losing money? Isn’t it weird? They are banned from the channels. Professional traders are transparent. While they speak of transparency, they fail to give a voice to those customers they mistreated or misled with their sketchy operation.

    9. The referral program. Needless to say, pyramidal “networking business” programs are ponzi-like.

    I base my statements on the fact that the fee schedule isn’t clear nor public.

    10. The challenge and demo accounts do not work because they do not account for the fees they withdraw overnight from your account.

    If you don’t know about serious brokers, check out Tastyworks, Interactive Brokers, Tradezero. Google a lot before falling into sketchy firms.

    I cannot recommend Tradenet at all. If they can’t make clear the fees, what else are they hiding?

  2. I wish I read more about the company before I was scammed
    They play on the people with ambitions and dreams, and the moment you pay to get a funded account they do not respond to emails, calls, and even block you on social media.
    500$ down the drain!

  3. Amazing work, I especially like you’re top recommended broker that paid one of the largest fines in CySec history last year, really lends amazing credibility to you (not at all). Also your comment about Tradenet should be regulated for investment advice, but since you clearly don’t know their product as they make 0 recommendations on what to put in your portfolio again your homework is sub-par. There’s more youtube broadcasts telling their followers what to trade and when that you should be calling the regulation on it seems. Last but not least the latest U.S. govt statement around tradenet found them to be true on the educational component and I saw no citation of them not being regulated as you so expertly stated. You might want to update your information at the min. but I wholly expect another snarky comment like your last “Thank you for your BS comment” to Gianni. So eloquent and spoken like a true writer and investigator….. hope you’re intelligent enough to detect the sarcasm here.

      1. I’ll give you that John, not every one has good taste in presentation, those images are atrocious. This is youtube these days though in any filed I feel. For his trades I don’t follow any rooms or call systems but did review his and others (dekmar etc) here and there spot checking. Trades and timing all were accurate, his volume is large and not for a newbie to think they can copy trade by any means but I feel it’s more or less accurate. On paper the trades/earnings look valid albeit a bit over the top. Then again I don’t many traders using $4m+ in BP daily, most of our groups we are more conservative and exacting if you know what I mean.

        Links you asked: forexclub.pl/en/iq-option-ukarane-450-tys-euro-cysec/
        Older- not as relevant: http://www.financemagnates.com/binary-options/regulation/iq-option-fined-e180-000-by-cysec-for-outsourcing-operations-misrepresenting-risk/

        End of the day, big shark companies will have fines, what was binary now many turned FX make millions a month so they don’t care one bit to pay. These companies have legal teams of 10 ppl + to handle the daily complaints from the regulations. Some companies like Royal FX and it’s sub-companies get 15 registered complaints min per day .

        1. I looked at the fines, the wrongdoing is there, on the other hand nothing that would like a serious scam. When you look at other big brokers, they all get fines from time to time for similar things, including giants like Interactive Brokers, and even banks like HSBS, UBS and so on. It’s not perfect, but that’s reality. At least the regulation is working and looking at what regulated companies do and ensuring they follow the rules. It’s hard to find a big established broker that has never had to pay a fine or do a settlement.

          1. Definitely true. Tis the nature of the business , just need to see what the fines are about and how frequent. In the end the regulations are good (way better than none) but having worked with them directly (not for) there is a bit of mafia mentality going on there. Fight the case or pay a fine with public notice, pay a larger fine and they’ll hide the reason and give it a generic header. Now who’s being shady ? Also I know they can change their rules on a whim and rules can also be open to interpretation in some cases.

  4. Not an expert day trader here but I can say that I am following the free chat room, for two weeks already and it’s quite amazing. I copied Meir trades and learnt from the free videos I am getting. To be honest, for now it’s quite amazing. No empty or crazy promises ( quite the opposite, Meir says that it will take 6 months to one year to see real and constant profits), no lambos, just hard work. I see Meir almost every day in the chat room and I only spend 45 min inside, kind of like him.
    5 Good shots or less and that is it. If I lose and I have spent my 5 shots I go as well, like him. That is quite a teaching. Leave on red and keep the Stop Loss tight!!!
    I don’t know what is the problem really, but CFD is legal in Europe, so I profit from it.

  5. Im reading all these comments and im not sure if i want to laugh or cry
    I started trading with tradenet in 2015. I also had a speedtrader account but i wanted to be able to short more stocks and IPOS. I remember getting a program for 6000.
    I was making decent money but then i lost all my money on 1 trade that was super volatile and i was surprised they marketed my position out once i reached max loss allowed. i stopped trading with them and came back in 2016 and got an Expert account. I still trade with them daily now. I closed my speedtrader account and i trade with 1 MM bp account with tradenet. I do win and lose money just like everyone but im lucky that past 4 years i have been profitable with average of 20k a month. I have been member of chatroom for 4 years and never wrote a comment because im there to trade not socialize. Also i never, not once had issue with charting, or level 2 inaccuracy or slippage more than normal broker. Only issue that SOMETIMES your unrealized gain/loss doesnt calculate as fast as price changes. but i go by level 2 so i dont care.
    I dont know about tradenet licenses or regulations and i know that now i cant upgrade account as im a us person but i trade with them steadily, I withdrew over 100k during last 2 years and im very happy customer.

  6. I have traded with all kinds of brokers and to be honest, Tradenet was for me the best on and still use it today.
    Why, because it gives me a good amount of BP.
    If you don’t know how to trade & Risk Management I wouldn’t recommend to Trade anyway with real Money.
    You guys just complaining because all of you end up blowing up their accounts and the only reason for that is Tradenet…. yeah.
    Never ever trade with real money unless you are not consistent and don’t know what you are doing and looking for.
    For myself, it took me over 3 Years to get consistent and after 4 Years I was Trading with real money.
    If your ego is too big, the market will show you!

    Don’t rely on those Education Paketes to show you how to trade, yes it can you new ways to look the market but every single trader is different and there is no right or wrong.
    You just have to figure out what works for you and what are you comfortable with.
    If you follow someone’s trade you will never be Profitable because you don’t know how many shares he’s in, his stop, his exit, scale in and outs etc. you have to find it for you.
    Don’t blame others of your fault.

    And for those People who say Tradenet is illegal etc. no it’s not!
    Where the Company is Based it’s not illegal, the World is not just the USA.
    Why should a European Based Company go to the US and pay them to get the same?

    For me, I stick with them because I get every month my Payout and that’s what’s all about.


    1. “You just have to figure out what works for you and what are you comfortable with.”

      So you are confirming that Tradenet is worthless and that people just have to learn and build their own strategies.

      1. Well I use only his Gap&Go Strategie and it works fine for me, but it’s not the only Strategie I use.
        You can easily learn his Strategie by just watching his Youtube Videos, no reason to buy it unless you want his funded Account.
        When you buy his Funded account you will automatically get access to his learning Platform.
        So for me, that’s a little extra, but I wouldn’t recommend buying it just to learn from it when you get all for free on youtube.


  7. Can you buy a brand new car and give it to a newly converted driver if you are looking for one?. this is what Tradenet does.
    I came across with Tradenet online when i started trading. they understood that i just started but they convinced me to buy one of their expensive program $15000 with $400,000 buying power and $20,000 drown-down
    Question, is it possible to give that kind of money when you know the person have no experience
    if that money is really a real money? i don’t think so
    Or are you going to train your son to drive is first car with a Ferrari or Bugatti? unless is the fake one
    or you are not even concern of the success of that child.
    Effectively that is what happen to me. After blowing my account up, they keep asking me to buy the more expensive one. Most of the promises they made about the 1 o 1 mentor ship they never respect it just my money they needed.

  8. I do thank John Novak for his review and the other people’s opinions about Tradernet programs. I kind of feel that way about most of the day trading scams being run out there. Very little value for the money being spent. That tells me they are using me as a revenue stream. I would expect trading to be so lucrative that I would not need to milk retail investors.
    I do thank all of the scammers for the free videos that are meant to entice me into their revenue stream. From the many I have watched, key aspects have emerged which are getting me closer to the reality of being a successful day trader using a systematic approach.

  9. There are several funded account programs out there. Here is an example of one: ***. The idea that this program is so valuable because they are the only ones that offer a funded account is another lie perpetrated by these fraudsters. The training they offer is non-existent even after you have paid them. I have gotten practically nothing for the $9k I paid. There are many other opportunities, and this service they offer is just over priced non-sense. Don’t give them any money. Tradenet has nothing to offer that is of any value.

  10. I completed the 5 day free challenge.The goal was to make 500 – comm etc.I achieved the goal.2 days later the numbers changed and they said great job but you were off by 41.00.lollBut you could still purchase one of our packages. SCAM STAY AWAY

  11. So let me get this straight , you expect this company to make money for you. I would like any of you cry babies to show me any other site out there that offers any thing like trade net… the experience alone is invaluable if you stick with it.. If day trading was as simple as sending a few bucks to a teacher everyone would be doing it. Meir warns everyone about the risks,, and if you follow along in his chat room, you will notice their is no way it is fake… trading is a business and like any business it takes commitment. Tradenet is just the first step.

    1. These sales/mentor scammers made a lot of promises they couldn’t keep. I was told that I wouldn’t need to be in chat rooms, and they would show me how to setup a portfolio and pick stocks not in chat rooms, but they kept asking for more money, and supposedly i had the top program for $9k I paid, and they still said I had to pay another $12k. These mentor calls were just a bunch of scammers begging for more money.

      1. I’ve noticed on a few places when I have been able to speak out on this terrible program there are a few defenders that seem to resort to this sort name calling – ‘cry baby’, and various other things like ‘i don’t know what your problem is’, ‘your just lazy’, and ‘you don’t work hard enough’, and this is the sort of community type of so called ‘wonderful’ people I was told I would be working with. Just a bunch of people bragging about how much money they were making, and acting self righteous to others that may be struggling, possibly trying to find help, and just getting a bunch of low life attitudes as a poor substitute for help. Not much help comes from bragging and boasting. I just think this is the saddest part of this program. They take your money, and then try to humiliate you. This so called community is very ugly and mean spirited.

  12. I’m so glad there are people speaking out against this scam. Many places I’ve tried to post about tradenet.com is ignored. Many of these review sites are in the tank for tradenet. They don’t want descent and probably fake anyway. I’ve noticed employee complaints at Glassdoor about tradenet https://www.glassdoor.com/Reviews/TradeNet-Reviews-E830166.htm. They seem to have some internal organizational problems.

  13. They marketed me out of all positions at inaccurate rates intentionally blowing my account. They said it was not there fault cause they control Tefs (risk assessment company). Never even came close to max loss and they pull a move like this. STAY AWAY UNLESS YOU WANT TO LOSE YOUR MONEY.

    1. They are a fing SCAM stay way. The loss margins are tight. They loss amounts are inaccurate. They see what you bid on. I have never made money on this except in the paper trading account were I made 2 thousand easily. When I went live I would always lose. The slippage is strange as well. For those making money I applaud you, but I will stick to making money in my TD Ameritrade account or other respected broker. You’ve been warned.

  14. This is an interesting article. I paid for the $9000 program, and it has definitely been a scam.

  15. This article is interesting. I paid for the top $9000 program which I believe is a scam. They wanted even more money after I paid $9000, another $12000, and these mentors are pathetic. They claimed they would show me profits in 1st couple of months, and they showed me 10 losing trades in a row. I was doing better with the demo with my own ideas. It is almost a year later, and this training has yielded nothing but loses and wasted time.

  16. I dont understand what the fuzz is all about.

    I Have one of their programs and I enjoy it very much especially the chat room .

    Im kind of average at trading but im learning and this is more imprtant.

  17. Not only is the advice illegal, but so are the CFD financial instrument which they offer is illegal in the USA

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