Phantom Trading has a course that teaches forex.
It's pretty expensive and if you're here you're probably wondering if it's a scam or not.
That's what this review will answer.
Below you'll find everything you need to know about this course including background information, price to join, overview of what you get and more.
You'll know if Phantom Trading is right for you by the time you're done reading.
Let's get into it!
Phantom Trading Summary
Creator: Brad Wyse and "Phantom"
Price to join: $80 per month or $800 per year
Do I recommend? It depends
Overall rating: 3/5
Phantom Trading is a decent course that teaches forex trading.
You'll get training and mentorship.. the coaches and owners are pretty active in the community.
If you're determined to make forex work this course can work for you.
But it's not for beginners.
If you're just looking to make money from home or online there's much better and less risky ways to do it.
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What Is Phantom Trading?
Phantom Trading is a community and training program dedicated to helping people succeed with forex.
Forex stands for foreign exchanges and is when you trade one currency for another.
This is a legitimate trading strategy.
Forex does take time to learn and is a trading strategy you're going to need to devote a lot of time to.
Currency prices go up and down for a lot of reasons including:
- Inflation rates
- Interests rates
- Political stability
You're going to have to become a news junkie to be successful with forex and really know how to spot trends.
This isn't like picking a stock and holding for years.
What Do You Get With Phantom Trading?
You do get a lot with this program.
Here's a break down of everything you get.
The training is broken into 10 different sections:
- Market structure
- Order blocks
- Market inefficiency
- Putting it all together series
- Entry Types
- Trade recap
- Backtesting - multi timeframe analysis
- Market commentary - Sunday
- Market commentary - Wednesday
Besides the training you get the following:
- Weekly market commentary videos
- Weekly live Zoom meetups
- 24/7 support and mentorship
- Access to Discord community
- Trade analysis
- Trade ideas from team members
- Video trade recaps
- Psychology mastery
- Downloadable pdfs and resources
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Who Is Phantom Trading For?
Obviously this program is for people that want to learn forex but it's not for people that aren't going to take it serious.
First off, you can't really just casually trade foreign currencies.. you need to be on top of things.
The Foreign exchange market is always changing and you can lose money if you're not keeping close tabs on the market.
Secondly, this isn't a course for people that are beginners to forex.
I've seen people that are very competent with forex say this program was too much for them.
So you need to have to have the basics of forex down.
Who Is Phantom Trading NOT For?
Like I said in the last section this course is not for beginners or for people that aren't going to take it seriously.
This course isn't a one time payment.. it's monthly.
As part of this you'll get weekly training and stuff like that. The community and training is robust.
So if you're just going to be casual about it this isn't right for you.
Also, if you're just looking to make money online or get another source of income going there's better ways to do it.
I understand trading and forex is popular right now but there's a lot of ways to make money online.
Many methods are low risk, simple to learn and low cost to get started with.
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Is Phantom Trading Worth It?
The cost isn't cheap for this course but I do think it's worth it if you're serious.
There's two different costs for this program.. either $80 per month or $800 per year.
If this was just training I wouldn't think this program would be worth it.
However, you do get a lot of weekly training and support.
You'll get access to weekly Zoom meetings and you'll get access to a Discord chat where you can get help any time.
$80 per month isn't bad when you consider the ongoing support you'll get.
There's No Refunds
There's no refunds with this program and this is something that I really, really don't like..
I've reviewed hundreds of courses in the last few years - it's what I do for a living.
Basically all legitimate courses have a refund policy.
If you're not satisfied with what you're getting you should always be able to get your money back.
There's nothing about this program that would require a no refunds policy.
How Much To Get Started With Forex?
The good thing about forex is you don't really need a minimum like you do when you day trade stocks (that requires $25,000 in your account).
However, the less you have to start the smaller the returns you're going to get.
It's recommended that you don't trade more than 1% of your account on a single trade.
So if you're starting with $100 you'd only really want to trade $1 on a forex trade.. it's gonna take a long, long time to get good returns at that rate.
A good number to start with is around $5000 if you want decent returns.
This will allow you to make $50 trades.
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Is Phantom Trading A Scam?
There's red flags, though.
The main red flag is there's no refunds. If you believe in your product you should let people get their money back in a reasonable amount of time.
If you have a good product you'd only get about 2% to 3% refunds.
Despite this, though, Phantom trading is legitimate.
You get good training and the support is very good as well. If you need help with something you'll be able to get it.
This program is just not for beginners.
So if you're not familiar with forex concepts or don't plan on taking it seriously I wouldn't bother with this course.
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I'd probably pass on Phantom Trading unless you're willing to treat forex like a job.
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