Stockstotrade Review – A Questionable Entity With a Court Case

StocksToTrade review reveals the questionable practices of a company currently facing a court case in Canada. The review dives into the controversial stockstotrade.com, providing detailed and well-researched information about its operations and background. These include: what it is, the individuals behind it, its physical location, and most importantly, why it’s suspicious. The article backs this information with supporting evidence.

Without further ado, let’s get into this honest review, starting with the StocksToTrade company profile table below:

What is StocksToTrade(stockstotrade.com)?

To be frank, StocksToTrade is a scam project targeting investors and traders who deal in stocks, ETFs, forex, cryptocurrencies, futures, options, bonds, commodities, real estate investment trusts, and mutual funds.

It’s more of a stock trading knowledge resource than a platform equipped with so-called powerful tools to empower traders. 

Notably, this platform is not free but rather a subscription-based one. The subscription details are as follows:

1. Monthly Subscription $179.95 per month

According to stockstotrade.com, the monthly plan gives you unlimited access to the so-called trading software and StocksToTrade University.  The university supposedly provides training videos, information about best practices for trading, and support.

2. Annual Subscription $1,899.50 per year

Going by the information on the website, this plan supposedly gives you access to all the features you’d get in the Monthly Plan, uninterrupted services, and a $250 discount. 

What’s more, the company claims to offer a 14-day trial for any package for $7. The company supposedly provides this offer to allow you to try out this product and its features before paying for a subscription.

Who Are The People Behind StocksToTrade?

StocksToTrade is a scam associated with 9 individuals, namely: 

• Timothy Sykes(Co-founder)

• Zak Westphal(Co-founder and CEO)

• Glenn Peters (VP of Sales)

• Cody Alexander (Chief Marketing Officer):

• Jose Rivera (Chief Financial Officer)

• Jamil Ben Alluch (Chief Technology Officer)

• Bryce Davis (Director of Customer Experience)

• Ed Weinberg (SEO Specialist)

• Tim Bohen(Lead Trainer)

A Product Marketed With Fake Claims!

Cody Alexander, together with his team, markets this fraudulent project using big yet bogus claims. For example, they claim that the system offers:

• A custom-built trading algorithm that sifts through thousands of stocks every second, generating tens of trading opportunities daily. 

• An Alpha Scanner algorithm that identifies “dark” price anomalies taking place inside the stock market in real-time and reveals the opportunities at the moment. 

• An IRIS Analytics AI system that forecasts explosive stock moves before the future, allowing for enhanced decision-making, risk management, identification of hidden opportunities, and other benefits.

These claims give potential investors a false impression of a useful trading tool that empowers traders with the necessary resources they need to profit. Unfortunately, they are empty claims with no substantiating support or evidence! 

The next section of this truthful StocksToTrade review is about compelling pieces of evidence showing that this product is a scam. So buckle up and be attentive for a few minutes because what I’m about to reveal will blow your mind about StocksToTrade:

Warning Signs Pointing to the Possibility of StocksToTrade Being a Scam

1. StocksToTrade Has Been Sued for Stealing Another Company’s Trading Algorithm

Did you know that this company has been having an ongoing case for piracy of another company’s trading software since July 17, 2020? This is one good example of the company’s involvement in unethical practices. These practices are often associated with fraudulent entities. 

Similar to StocksToTrade, Scanz Technologies is a Canadian entity that offers trading software and tools for stock traders. The company filed a lawsuit against Timothy Sykes, a co-founder of StocksToTrade, for reverse-engineering its trading software and using it to make money.

After careful consideration of the evidence, the court issued the defendant(Timothy Sykes) with a stop and desist order, barring them from offering the said trading software any longer. Despite that, Sykes and his team have continued to market their fake product to customers while knowing very well that they are no longer in a position to provide a trading algorithm. 

Negative StocksToTrade Reviews On Social Media

Some of the customers who felt tricked ranted on Twitter, using very harsh words against him and his team, as you can see in the screenshot below. Please note that I captured this screenshot from a blog known as “ValueWalk” since the conversation seems to be no longer available on Twitter.

A screenshot shows a rant from a customer who felt ripped off by StocksToTrade software, which did not work for them.

2. StocksToTrade Is Not BBB Accredited

Another red flag worth mentioning in this StocksToTrade review revolves around the BBB.

I searched for StocksToTrade on the Better Business Bureau, an organization that evaluates and rates businesses based on their transparency, ethical practices, and customer service.

Subsequently, I found that StocksToTrade is not accredited by the BBB. It means that the entity could be unreliable or untrustworthy, or might not have met the above standards. This is further supported by several complaints on the BBB website.

Most of the customers reported in the reviews that the company did not honor the refund policy, losing out on their refunds after canceling their subscriptions. 

3. StocksToTrade Is Unregistered and Unregulated

Another red flag suggesting that StocksToTrade is a questionable entity is the fact that it operates without registration. The company website shows that StocksToTrade is located in the United States, 3809 Research Boulevard, Suite 500, Austin, TX 78750. 

Now, the US financial laws require all stock trading companies operating to be registered and controlled by the Securities and Exchange Commission (SEC). By putting this requirement, the government seeks to ensure a robust financial system, upholding investor confidence. 

Broker Is Fraudulently Unregistered!

Yet StocksToTrade isn’t registered or overseen by the SEC. The website states, under the Terms of Service, that StocksToTrade is not registered as a securities broker-dealer or an investment adviser, as you can see in the screenshot below. 

StocksToTrade review and a screenshot image showing StockToTrade’s statement on its website confirming that it’s unregistered and unregulated. 

Yet as a stock trading software provider that also provides trading advice, it essentially engages in the services of a securities broker-dealer and an investment advisor. 

The absence of regulatory authorization and oversight means that StocksToTrade is operating illegally, raising significant concerns and potential risks for investors. There’s no way to tell whether or not the company is complying with regulatory requirements. This leaves the possibility of fraudulent activities and illicit practices that could see investors lose money. 

4. StocksToTrade Exploits a Legal Loophole To Provide False Information

This honest StocksToTrade review wouldn’t be complete without a mention of this significant red flag. As mentioned earlier, StocksToTrade seems to serve more as a signals provider than a trading broker. Even the absence of features such as account packages and corresponding minimum deposits on the platform confirms it.

The company charges users only to access its trading software, training videos, information on best trading practices, and support.

Entity Makes False Claims About Providing Trading Information

Regarding the provision of guidance on trading best practices, StocksToTrade claims to offer a wealth of reliable information about stock trading.

The company asserts that it collaborates with experienced, seasoned, and passionate traders and trainers. Additionally, it boasts about utilizing state-of-the-art technology and tools for this job. This gives the impression that it provides only accurate and reliable trading insights.

StocksToTrade Review and Contradicting Terms of Service!

However, in the Terms of Service section, StocksToTrade seems to contradict and exonerate itself by using a disclaimer clause. The clause states that the company cannot verify or guarantee the accuracy of any information it provides regarding the profitability of any investment. You can see the disclaimer clause in the screenshot below:

This disclaimer raises serious doubts about the credibility and accuracy of the insights they provide to their customers as far as trading goes.

A lot of scammers pretending to be financial brokers offer misleading information in matters of trading. Fake brokers who are notorious for this habit include Vintanse Group, Hudson Trust, and Trenixo. Once you sign up, these brokers will send you misleading trading signals just to get you to fund your account to start trading. 

StocksToTrade Review Roundup

StocksToTrade markets itself as a market analysis platform for stock traders. But the reality is that this software doesn’t work as advertised. Don’t be deceived by positive reviews of it on YouTube, Trustpilot, and Scamadviser, as those are probably fake feedback generated by paid contributors. 

The company has been ordered by a court in Florida to shut off its trading software due to piracy issues. Having complied with the order so far, it doesn’t have any alternative trading software to offer. Despite that, it continues to take money from investors who are interested in the controversial trading software. A lot of people have paid money only to realize that the software isn’t working, as evidenced above. 

Apart from that, StocksToTrade is unlicensed and unregulated. What’s more, several clients have reported it to the Better Business Bureau for not refunding their money after they canceled their subscriptions.  Additionally, the entity has demonstrated cunning and unethical practices such as exploiting legal loopholes to deceive clients without risking culpability, as explained above. 

I hope my unbiased StocksToTrade review helped you avoid losing money to this controversial entity. 

Pursue Your Funds!!!

After reading this detailed and eye-opening StocksToTrade review, have you fallen victim to this purported trading platform? Has the company refused to refund you even after canceling a subscription within the refund timeframe? If so, and you have evidence, visit this page to report your StocksToTrade experience and seek help.