Trading Legend Peter Brandt Names 3 Key Red Flags to Detect Scam Firms By

Key Points

1. Peter Brandt highlights three red flags for scam firms: promises of 'live funding in a matter of days', excessive use of 'screen shots and bells and whistles', and untrustworthy proprietary trading firms.

2. Brandt refuses to name specific scam firms but provides initial letters as hints, advising traders to be cautious.

3. He warns that assets under management (AUM) are not a reliable indicator of a firm's legitimacy, stating 'AUM means next to nothing.'

4. Brandt criticizes the unrealistic promises made by scam firms, calling them 'a big pile of B.S.' and stressing the importance of success in trading.

5. The article underscores the need for new traders to conduct thorough research and consult financial experts before making any investments.