A1 Trading is a forex and trading company run by young entrepreneur TraderNick (Nick Syiek).
He has many products and tools for sale and if you're here I'm guessing you want to know if they're scams or not..
We'll get to the bottom of this question in this review.
Additionally, we'll take a look at what's being offered and if there's any red flags that I can find.
You'll know if AI Trading and TraderNick is legit by the time you're done reading.
Let's get started!
A1 Trading Summary
Creator: Nick Syiek (TraderNick)
Price to join: Depends on product
Do I recommend? No
Overall rating: 2/5
TraderNick seems like a nice enough kid.. I'm impressed by what he's been able to build in his early to mid twenties.
However, I still wouldn't buy anything from him.
It's all based on technical analysis which is something no serious investor uses.
While Nick's results seem good I doubt how accurate they are.
I found other accounts from Nick that trail that market by 50% and he admits he has many more accounts than just the one he shows.
The price isn't bad for his stuff and there's no recurring fees if you buy lifetime memberships.
That's nice but there's no refunds.
I doubt many people will use Nick's tools and signals and profit.
This kind of trading is guaranteed to lose 99% of people money.
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You Have Less Than A 1% Chance Of Success
Before we get into what A1 Trading is and what you're getting I want to talk about something quick..
The odds of you becoming a successful day trader and successful forex trader.
There's been massive studies that have looked at the success rate of day traders and they all come to the same conclusion:
Basically no one succeeds with day trading.
For example, in one study that followed hundreds of thousands of day traders for 14 years about 1% could make any money after subtracting fees.
Other equally as big studies mirror the results.
There's many reasons for this.
Here's the main reasons why nobody succeeds with day trading:
Technical Analysis Doesn't Work
If you're someone new to investing this might sound confusing to you.
But it's true.
You might be saying "but all these people teach technical analysis online and get millions of views."
Go look for an online horoscope and you'll see millions of people doing that too.
Just because something is gaining in popularity doesn't mean it's legit.
At the end of the day technical analysis is the belief that you can predict the price of an asset in a short period of time based on its price movement.
Here's an example of technical analysis in action:
No legit investor or stock market expert takes a chart like this seriously.
People like Warren Buffet have mocked the idea of technical analysis and charts like the one up top.
You won't find billionaires or Wall Street investors doing this stuff.
Don't believe me?
I found this interesting comment from a college kid that interned at Bloomberg:
If people on Wall Street aren't using it to make money, it doesn't make money.
High Fees Involved With Day Trading
Another problem day traders are going to run into is the fees involved with day trading.
You might be able to get a miniscule edge through various trading methods but it's wiped away by costs.
For example, you're going to have to pay for stock screeners and a brokerage account.
That's going to cost you thousands a year.
And then every trade you make comes with a fee that can cost up to $100 PER trade.
After that you have to pay 28% taxes on all trades that your profit on that you bought and sold under a year (It's only 15% for long term investors).
Add it all up and you can actually win more than you lose and still end up negative.
In fact most day traders lose about 36% a year when you combine everything.
Short Term Investing Never Works Out
You might be able to get lucky here and there if you try short term investing.
But the truth is it'll always lose you money in the long run.
You simply can't guess where an asset's prices is going to be in a day or week.
There's too many factors that determine price movement.
And a lot of the factors aren't even logical.
Short term investing promises fast riches so people are drawn to it.
And fake gurus notice the demand and sell bogus products to naïve traders.
The only people day trading that are making money are people like Nick who have a Youtube channel and sell signals.
I guarantee the vast majority of his customers are losing money.
If you want to invest like a billionaire, invest for the long run.
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The "Track Record" Is Misleading
If you go to A1's website you'll see Nick has a track record that you can see.
It shows about 75% gains in just two years:
This is apparently tracked by a third party tracker called MyFxbook.com.
On the surface this looks great.
I always judge a trading/investing program against its ability to beat the market.
The market is only up a measly 8% since 2021 and this up around 75%.
However, if you click the chart it brings you to MyFxbook and then the results don't seem as good.
First thing you'll notice is the gain is different than the Abs. gain:
So the real gain is 48% because the 75% number includes deposits Nick has made.
However, 48% is still very good for the current market.
BUT I again found something interesting.
If you click on Nick's username you'll see he had another account before this one that did bad.
This ran through 2020 and only had a gain of 1.95%:
The market was up 18% for the year of 2020 so Nick trailed the market by 90% during this time.
If you click Nick's username on MyFxbook you can see both charts together (the red arrow indicates where Nick opened the new account:
So the returns Nick gets aren't always as rosy as he's presenting on his website.
Additionally, who knows if this is an actual reflection of all his trades.
In a video explaining his results he states he doesn't do his "heavy trading in terms of monetary size" on this account.
Nick also states he has multiple accounts that he trades in.
So I doubt this chart that he shows actually tracks all of his trades.
Nick Is Definitely A Go-Getter
You can respect a person's hustle without recommending that you buy from them.
That's how I feel about Nick.
Nick is a young person and is only 26 at time I'm writing this.
But he's been running A1 since 2019 and in this article from Yahoo it states he was a millionaire by 23.
However, a look at Nick's Linkedin page shows a very ambitions and smart kid.
It looks like Nick got into coding when he was younger and was taking online classes in high school... along with owning a lawn care business.
After this he launched an iPhone selling business in college and worked for Syiek Management company as a heavy equipment rental sales manager (I'm guess this is the family biz).
This was apparently all being done while he studied computer science at Auburn University.
Anyway I respect Nick's hustle.. he seems very entrepreneurial.
But where did he find the time to learn forex?
He launched A1 Trading while in college and working 3 other jobs while also running other businesses.
Just something to consider.
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What Is A1 Trading Offering?
A1 Trading has a few different offerings available.
Here's a breakdown of each one.
The first thing that's being offered is a chatroom and trade signals.
However, according to the people at A1 Trading you're not supposed to just "copy" these trades:
So if you're looking for a program to copy trades from this one apparently isn't it.
Instead A1 claims to give out signals to give you ideas and for you to discuss with other members.
With the signals you get:
- Live trading room in Discord
- Strategy library
- Educational library
- Live webinars
There's three different prices and they range from $129 per month to $399 per year to $599 lifetime membership.
Talk about savings..
However, there's no refunds at A1 Trading.
So if you join for a lifetime and come to the conclusion it's not for you there's not going to be a way to get your money back.
The EdgeFinder is a tool that Nick claims he uses to find his winning trades.
This is a market scanner that supposedly helps retail investors figure out market sentiment and additional data to trade with.
Some features you'll get from this tool includes:
- Watchlist of potential trades
- Individual market summaries
- Smart money tracker
- Price forecasts
- Fed Tracker
There's a free version of this tool and a paid version.
The free version is very limited in what is being offered.
You only get information on USD and CHF.
Additionally, you get retail sentiment and market heatmap.
The paid version only has one price and it's $999 for a lifetime subscription.
This unlocks all features.
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A1 Trading FAQ's
Still have some questions about A1 Trading?
Here's answers to any remaining questions you might have:
1) Are The Prices Fair?
I don't think the price for the signals and chatroom is too bad.
There's a 1% rule with investing - don't spend more than 1% of your trading account on research.
You can buy the chatroom for a year for $399.99 which means you'll need $40,000 for the chatroom to be worth it.
Anything less than that the fees will eat into your gains too much.
This is a reasonable price and a reasonable amount to expect someone to have if they're day trading.
I do wish EdgeFinder wasn't just a lifetime subscription or nothing.
A monthly trial or a full 30 day trial would be nice.
2) Is There Refunds?
This is a big time bummer.
Nick makes the same excuse for not giving refunds that everyone else makes.
That because it's a digital product there's no way to actually return the product.
Every program like this should come with a no questions asked refund policy.
Otherwise it signals to me you're only in it for the money.
3) How Much Will I Need To Start?
I mentioned earlier that you shouldn't spend more than 1% of your account on research every year.
So $40,000 is a good place to start.
Anything less than that the gains start getting eaten away.
For example, if you're starting with $10,000 the chat would represent about 4% of your account.
With Nick's first account he profited 2% for the year.
If you had the same performance you'd actually lose money because you paid more in chat access than your profited.
4) How Much Money Can I Make?
The odds say you're going to lose money.
According to France's financial regulator (AMF) 89% of traders who trade forex lose money.
Day trading forex will get you even worst results as every major day trading study shows 99% of people lose money.
Even if you're one of the lucky few that does make money, I wouldn't expect to make much.
Most people who profit make less than minimum wage.
Looking for short term gains is just gambling.
You'll get the same results playing craps or roulette.
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A1 Trading Pros And Cons
A1 Trading Conclusion
So that's the end of my review of A1 Trading.
In the end this is a pretty typical offering from a forex Youtuber.
A lot of these guys have popped up recently and they offer a lot of the same stuff.
Tools to help you find trades and trading signals/chatroom access.
I'd say Nick prices his stuff a little better than his competitors, though.
But really the price doesn't matter too much.
The odds of succeeding with day trading forex is basically zero.
There's only one way you're guaranteed to make money with day trading.. and that's to do what Nick is doing (selling services).
You know what they say: During a gold rush sell the shovel.
Nick has made himself millions of dollars in his twenties.
It's hard to hate on an accomplishment like that.
But that doesn't mean you should buy his products.
The odds are simply not in your favor.
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I'd pass on A1 Trading.. Nick seems like a nice enough guy but I'll never recommend anyone get involved with day trading forex.
The best way to invest is long term with stocks.
When done right you're pretty much guaranteed to profit over time (day trading is the exact opposite - guarantee to lose money over time).
There's many services out there that will help you find solid long term investments.
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