Prolific Traders has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Voytegon. We’ve received over 3 complaints against Prolific Traders.
Cameron Kelly’s Prolific Traders program claims to teach earning $12,000 monthly via AI trading of the S&P 500. However, it lacks regulation, independent tools, and transparent pricing, posing significant risks. Its reliance on Cameron’s guidance and dubious profit claims, coupled with poor support and potential financial loss, suggest it is a scam. Proceed with caution.
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Key Takeaways
Is Prolific Traders Regulated? Do They Have a License?
Cameron Kelly founded Prolific Traders, a day trading program that claims to educate people how to earn $12,000 per month by employing artificial intelligence to trade the S&P 500 Index (SPY). The program’s AI Smart Money Systems encourage consistent trading performance and decreased market monitoring. However, some issues and restrictions require correction.
Day trading may be emotionally demanding, as traders must manage their emotions and stress levels while making quick decisions based on market fluctuations. This feature is frequently overlooked in the program’s promotional materials.
The program is primarily reliant on Cameron’s guidance, with little independent tools or external support networks to help traders manage issues on their own.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Prolific Traders is a scam and most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of Prolific Traders, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Concerning Issues Present at Prolific Traders
The program’s cost is not revealed on the website, and prospective customers must take a survey and book a session to acquire price information, which lacks transparency. Furthermore, the lack of a clear refund policy puts potential users at risk, since they may have little recourse if the program does not live up to expectations.
Starting with Prolific Traders needs a minimum budget of $2,500, which is a considerable hurdle for many aspiring traders. Day trading is inherently risky, and even with AI technologies, market volatility can cause significant financial losses.
The program’s claim of making $12,000 per month is unrealistic for beginners. Trading is a sophisticated skill that requires significant knowledge and frequent market updates. Cameron’s claims of regular profits are doubtful, as even experienced traders struggle to maintain consistent gains owing to market volatility.
While AI can help discover trading opportunities, it is not perfect and cannot eliminate the inherent hazards of trading. The 2010 Flash Crash, caused by automated trading, highlights the inherent risks of relying heavily on AI. Market volatility remains a challenge, and despite powerful AI systems, many traders suffer huge losses.
Prolific Traders’ YouTube and Facebook pages are infrequently updated, showing a lack of ongoing support and participation with the trading community.
However, it’s worth noting that many scammers disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, the scammers stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
If you want to get your money back from a scammer, you’d need to file a chargeback.
Prolific Traders Customer Service: Do They Handle Complaints Well?
When it comes to scammers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, scammers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Scammers understand that to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, customer support won’t resolve your issues and become increasingly unavailable.
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Prolific Traders Reviews: What Do Others Say?
The majority of Prolific Traders evaluations are published on its website, with little representation on independent sites like as Trustpilot, Reddit, and Quora, raising doubts about the testimonies’ legitimacy. Despite claiming a high rating, there have been no Trustpilot reviews in the recent year, casting doubt on the program’s purported popularity and success.
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Scammers like Prolific Traders tend to purchase fake reviews for their online profiles to make themselves seem more credible.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust Prolific Traders reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews posted by temporary accounts (profiles that only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of Prolific Traders, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like Prolific Traders enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Prolific Traders reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Prolific Traders.
You should always look out for consumer complaints. In the case of Prolific Traders, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about Prolific Traders? You can share your complaint in the comment section or submit an anonymous tip.
Is Prolific Traders Legit Or a Scam?
Prolific Traders is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind Prolific Traders can run away with your money without any prior notice. It would help if you were extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust Prolific Traders?
Prolific Traders touts itself as a thorough and effective day trading program, however it has several serious flaws. The lack of independent reviews, opaque pricing, considerable financial risk, and exaggerated claims make it a dubious investment. Potential users should proceed with caution, given the inherent obstacles and risks of day trading. The use of AI, while beneficial, does not guarantee success and cannot totally alleviate market volatility and unpredictability.
All the evidence suggests that Prolific Traders is a scam. If you have lost money to them, there is still a chance you can get it back.
To recover your funds, you’d need to file a chargeback.
Frequently Asked Questions
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How The Prolific Traders Online Scam Works
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