April 18th, 2022
As many of you know from our communication in the summer of 2021, we provided information to the FTC (Federal Trade Commission, a US Government Agency involved in consumer protection) for a non-public inquiry regarding our advertising practices. We’re writing today with an update on the resolution to the inquiry, as we have settled with the FTC on this matter.
We want to be clear from the outset of this communication that the truthfulness of Ross Cameron’s earnings claims is not in question. His broker statements continue to be publicly available on our website as they have been for years and continue to be audited and verified at the end of each calendar year. Our settlement with the FTC, which we will discuss below, is regarding consumer disclaimers.
As a successful company in the highly public and fast-growing online trading marketplace, it is common for a business like ours to attract the attention of regulators. Over the last several years we have made significant investments in our business model and practices to ensure our customers understand the risks associated with trading, all while having a best-in-class experience with our products.
We have always strived to use transparent disclaimers that communicate the risk in trading and the fact that Ross’s profits are not a typical result. In our settlement we have agreed to take it a step further with new forms of communicating risk and the expansion of our disclaimers.
Additionally, we have maintained an uncommon level of transparency in our industry by making Ross’s broker statements available on our website and posting content consistently showing the ups and the downs of trading. We think these investments, combined with our commitment to transparency, are evident by our positive online reviews and customer retention metrics.
We do believe that the better informed a consumer is regarding the risks and challenges of trading, the better it is for our industry as a whole. Where Warrior Trading and the regulators agree is that day trading is risky, and it is not a way to “get rich quick”. With the guidance of the FTC, we hope that our expanded disclaimer helps day traders and those interested in day trading, understand the risks of this type of trading.
Actively trading the markets is something that many Americans aspire to do, much like becoming an entrepreneur. We believe that while difficult and risky, there is a need for quality education and support for those who decide to take that journey. We look forward to continuing to be transparent and straightforward with consumers about the risks and challenges, and providing a best-in-class educational experience for those who decide to pursue the journey.
We want to thank you, our customers, for your time and investment. 2022 will be a phenomenal year with continued enhancements and growth to our platform and community.
Warmly,
Warrior Trading