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Warrior Trading

A Great Barrington company that teaches day-trading techniques to pay $3 million for 'bogus' claims

FTC says Warrior Trading misled consumers about big profits

Warrior Trading Great Barrington office

The East Coast offices of Warrior Trading, left, in the alley storefront of the 47 Railroad St. complex in Great Barrington. The FTC says the company and its founder and CEO Ross Cameron defrauded people through false advertising about the success of his day-trading strategy.

GREAT BARRINGTON — A Railroad Street company has agreed to pay $3 million to refund consumers who the Federal Trade Commission alleged were defrauded by the firm’s misleading advertising, which said the day-trading techniques it teaches would yield big payoffs.

In the civil complaint filed Monday in U.S. District Court in Springfield, the FTC alleges Warrior Trading founder and CEO Ross Cameron used claims of profit to convince people to pay hundreds of thousands of dollars for a trading approach that did not benefit most of them.

“Warrior Trading is paying a heavy price for misleading consumers with bogus money-making claims,” said Samuel Levine, director of the FTC’s Bureau of Consumer Protection, in a statement. “The FTC will continue its crackdown on false earnings claims and phony opportunities.”

Warrior Trading Ross Cameron

A screenshot used in the FTC's court complaint against Warrior Trading CEO Ross Cameron on YouTube advertising his day trading strategy. 

From January 2018 through March 2021, the complaint said, “Defendants generated tens of millions of dollars in revenue from the sale of Day-Trading Programs.”

They also spent more than $12.8 million on advertising during that time, the FTC said.

The Federal Trade Commission's civil complaint against Warrior Trading and CEO Ross Cameron.

Cameron could not immediately be reached for comment. A Warrior employee referred to a statement sent Sunday by the company to customers and posted to its website, in which the company said Cameron has always been transparent about his earnings, and about the risk inherent in day trading.

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“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 downs of trading,” the statement said.

The company also said it agrees with the FTC that day trading “is not a way to ‘get rich quick.’”

Ross Cameron Warrior Trading

A screenshot used in court documents of Warrior Trading CEO Ross Cameron advertising his techniques on Twitter.

Warrior Trading specializes in teaching people to day-trade, a risky investment practice of buying stocks and selling them at higher prices after short intervals of ownership.

Under the settlement agreed to by the company and the FTC, Warrior also will have to stop making “bogus earnings claims,” as well as using telemarketing to misrepresent the success of its strategy for anyone who uses it.

Cameron, 37, moved to Alford from Vermont in 2018 and opened what was Warrior’s second U.S. office in the alleyway retail space in the new 47 Railroad St. complex.

The company previously had a technology hub in Sacramento, Calif., which has since closed. Cameron founded the company in Vermont.

Cameron in January 2020 bought the historic and deteriorating Castle Street firehouse and began renovating it for eventual use as a classic car museum with office and event space.

Heather Bellow can be reached at hbellow@berkshireeagle.com or 413-329-6871.

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