You probably know better than to believe any website that promises to teach you how to make millions of dollars, but what about honest programs that help you learn how to earn significant sums of money? One such website is called Profitly. It offers courses that teach you how to trade penny stocks. The teaching is legitimate but the results you get from it have much to do with the effort you put into it.
Many people have strong opinions both good and bad about the site. It was started by millionaire penny stock trader, Timothy Sykes. Originally the host of television’s Wall Street Warriors, Timothy decided to share his expertise online with students. He set up the Profitly site with lectures, videos, and trading platforms all led by experts in the trading field. Is it a scam? It depends on how you view things and by reading this profitly review you can find out yourself.
The website gives you tools and information to make good decisions about trading. Once subscribed, you can view real-time trades from some of the gurus there. You can keep track of your own trades once you are a member. While you do have to pay to see this type of information and to take the classes offered, you can sign up for free to get an idea of how things work. That’s not exactly the hallmark of a scam.
When it comes to the results anyone can get from online trading sources, promises of success can never be made. You can only get results from your own efforts, risks are always assumed from trading stocks of any kind.
The website also works with a goal towards being transparent and honest. It does not tolerate liars. In fact, it features a Madoff button. Anyone who suspects there is a fake trader in the ranks can hit that button to report them. An investigation will be done on that person.
People who think Sykes is a scam artist claim that he makes all of his millions selling courses at Profitly. They claim he does not do any trading anymore. That is debatable. Much of the information regarding his trade success from the past or any students’ is not easy to find, but that does not mean he or any of his students have failed to earn money from the techniques learned at Profitly.
A person should sign up for themselves to see how well it works for them. There are only 2000 students allowed at once and the site only lets students trade in a host of niche stocks. Still, for anyone beginning to trade this might be a great way to learn and do some low-risk trades as they go.
One thing is certain, the website has yet to be shut down for being an outright scam. Many critics can claim it is a scam, but no one can promise anyone will be an absolute millionaire for learning to trade stocks of any kind. That is something that is largely up to fate and a trader’s own good judgment.