Mains Street Trading Company

[VeriCarreri]

Attended webinar just this past week. Heard mention that the next exam date was Oct. 15 on Forex with the possibility of the exam being 5-10 days. There was a second webinar yesterday evening too. I did not appreciate the call to urgency so did not register. Those that did should know that the chances of getting a refund will be almost impossible due to their delivery methods and online payment processing disclosure.

I passed but hope it is a good move for those who joined. Maybe we can hear from those who joined from time to time how things progress.

 

[ReneeK58]

On the webinar now. After your comments I don't think it's a good idea. Not enough time to research. Lots of Hype. No control what and IF your going to be trading. Thank you for all your research and comments. Thanks, Renee K.

 

[haroldb]

Just to throw my two cents. I discovered the thread a few months ago and still decided to bite the bullet and take a chance. I mean, it's not a lot of money to take a shot and see what it's all about. They are after all the cheapest from whats out there.

Well anyway I did it and I did the test twice. I actually made it 2nd time around and now I'm trading futures with them. I have the ability to trade any futures I want and I'm currently trading 5 contract position sizes. Start with 2 and with profits I was bumped up to 5.

I'm generally wary of the whole trading, finance industry and I think anyone that is not a Goldman Sachs or Bank of America gets thrown under the bus. I think these guys are doing an ok job. Hopefully anyone considering them might find this review useful. If you'd like further details about my trading, you are welcome to PM me.

(sorry for any typos, doing this on my phone!)

 

[outlierm455]

Update?

Was wondering how your experience has panned out the past couple months. Are you still with them? Would you recommend it long-term?

I just sat in for a webinar but was not convinced. The 30min. sign-up discount was off-putting as well as the shoddiness of their website http://www.mainstreetsamerica.com. I suspect their business model is something like this:

1. Host a couple webinars per month for signups (e.g. 2 x 20ppl x $600ea = $24k)
2. Make registrants wait for 1 month or so to test trade
3. Pass 6 people (1/3) and give them contracts
4. Make 35% off of the 3 people who are profitable (50%)

--> Perpetuating this cycle over a year would yield a total of $288k holding from everyone who signed up. Assuming test sessions are every other month, each registrant has 6 chances per year to pass and get a contract. The refund policy activates after 10 unsuccessful tests. This overlap means that they have a continual influx of new capital (either to invest or pay out) on top of making 35% off of each new and existing trader.

I know there are a lot of assumptions here so I'd rather not get into a drawn-out theoretical analysis before getting more information. So does anyone have new data on these guys? The lack of verifiable integrity is disturbing.

Just to throw my two cents. I discovered the thread a few months ago and still decided to bite the bullet and take a chance. I mean, it's not a lot of money to take a shot and see what it's all about. They are after all the cheapest from whats out there.

Well anyway I did it and I did the test twice. I actually made it 2nd time around and now I'm trading futures with them. I have the ability to trade any futures I want and I'm currently trading 5 contract position sizes. Start with 2 and with profits I was bumped up to 5.

I'm generally wary of the whole trading, finance industry and I think anyone that is not a Goldman Sachs or Bank of America gets thrown under the bus. I think these guys are doing an ok job. Hopefully anyone considering them might find this review useful. If you'd like further details about my trading, you are welcome to PM me.

(sorry for any typos, doing this on my phone!)

 

[drtro]

Why even bother with new fishy firms when there's reputable firms readily available?

Also, when a firm's about me page is a bunch of "Main Street Co. was founded by traders, for traders." garbage and mentions nothing about being registered/insured, you should just find something else. That line is used on every firm's website that doesn't even last a year. And any firm that also makes you sign up to "education" programs is garbage. They are not accredited anywhere, not registered with the BBB even, and if you search their name on Elite Trader, you will see many posts about them over the years under different domains.

But feel free to be the retarded trader who gives away money for a mentor or training program.

 

[ricardog]

I'm trading too. I've actually been trading forex with them since May. Still here! It's kind of appalling to see people speculate on a company without even knowing or participating in it. I don't mean to sound ignorant or anything, but I took a leap of faith too and it's working out for me, that's all I can say.

When I joined, I was told that I can do a strategy session every week. Ok, check. They said I can do the tests as many times as I want. check. I got selected in the summer test and got to trade. Check and mate!

Trading has been my dream ever since and I've been a long time registered member on this site (an old dog you know). I have seen lot's of companies and people come and go. The only thing that matters is doing what you say and these guys did it for me.

Hope this helps anyone considering joining. It's well worth the ride even if you don't pass the test because they are a great bunch.

Was wondering how your experience has panned out the past couple months. Are you still with them? Would you recommend it long-term?

I just sat in for a webinar but was not convinced. The 30min. sign-up discount was off-putting as well as the shoddiness of their website http://www.mainstreetsamerica.com. I suspect their business model is something like this:

1. Host a couple webinars per month for signups (e.g. 2 x 20ppl x $600ea = $24k)
2. Make registrants wait for 1 month or so to test trade
3. Pass 6 people (1/3) and give them contracts
4. Make 35% off of the 3 people who are profitable (50%)

--> Perpetuating this cycle over a year would yield a total of $288k holding from everyone who signed up. Assuming test sessions are every other month, each registrant has 6 chances per year to pass and get a contract. The refund policy activates after 10 unsuccessful tests. This overlap means that they have a continual influx of new capital (either to invest or pay out) on top of making 35% off of each new and existing trader.

I know there are a lot of assumptions here so I'd rather not get into a drawn-out theoretical analysis before getting more information. So does anyone have new data on these guys? The lack of verifiable integrity is disturbing.

 

[A Dashing Blade]

Guys, do you really think that anyone here really believes your viral marketing bullsh1t?

 

[outlierm455]

Yeah, ricardog sounds like a planted post to me. But haroldb replied to me and it sounds like he enjoys it and is still doing well there. It might not be a scam after all, but who knows. I guess people can try anything out for themselves and for some it works and some it doesn't. I'll probably go with a more reputable firm though. Good luck to everyone!