Phantom Trading is a forex education platform that promises to help you understand why prices move.
Before you buy I'm sure you want to know if it's a scam or not.
I'll answer that completely in this review.
There's a lot to cover.. from price to an overview of what you get and more.
You'll know if Phantom Trading is worth it by the time you're done!
Phantom Trading Summary
Creator: Brad Wyse and "Phantom"
Price: $$80 per month or $800 per year
Do I recommend? It depends
Summary: Phantom Trading is a good place to join if you want to day trade forex.
You get good training that will help you consistently make profitable trades and you get an active community to ask questions to.
However, this is a community for serious traders.
I'd only buy if you want to make forex your full time job.
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Who Are The Creators Of Phantom Trading?
The two main guys at Phantom Trading is Brad Wyse (pictured up top) and "Phantom."
To be honest there's basically nothing out there about these guys.
I've searched through Google, Youtube, Instagram and Twitter and just couldn't find much.
Most of their socials haven't been used for years.
They have a Youtube channel that releases a video every once in a while and the videos definitely are informational.
However, there's not enough out there to tell if they're legit or not.
They're not overly important to the trading community in Phantom anyway.
The community is mostly run by other coaches and mentors.
What Is A Phantom Trading?
Phantom Trading is a forex education and mentoring community.
The main goal of the program is to teach you why prices changes so you can correctly make a profitable trade.
One thing to point out is this is mainly for people looking to day trade forex.
This means you'll be buying and selling currency in a short window.. even in the same day.
This requires discipline and time.
If you're not looking to treat forex trading like a full time job you probably won't benefit much from Phantom.
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What Do You Get With Phantom Trading?
There's a few different aspects to Phantom.
Here's a look at each one:
There's a main course that teaches you how to trade forex and do setups.
Some of what you'll learn here includes:
- Market structure
- Entry types
The end goal is to give you the ability to consistently make profitable trades.
You'll also get a trading psychology course to help you with the mental aspects of trading.
Phantom has a pretty robust community and is growing every year.
They have over 2000 members and an active Discord channel.
You'll be able to ask questions in the community and get answers quickly because of this.
This is vital to learning.
Another aspect of the Phantom opportunity is mentoring.
There's a good amount of coaches and mentors available for you to talk to.
They do a group zoom meeting once a week and you can ask questions directly to the coaches there.
Additionally, the Phantom team will give you trading ideas.
There's also some additional aspects to Phantom trading.
You'll get a bunch of downloadables to help you learn the strategy better.
Also, you get training and a road map on how to get funded and funding opportunities.
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Who Should Buy Phantom Trading?
Phantom Trading certainly isn't for everyone.
First off, you have to recognize the amount of work it's going to take to be successful with the strategies taught.
You're not really going to get picks per se.
Instead you're going to learn the technical process of setups.
This is going to take some time to learn because it's pretty complicated stuff.
Secondly, you're being taught market structure and price action.. these are strategies used for day trading and swing trading.
This means you're going to be buying and selling in a short amount of time.
Sometimes it'll be on the same day but it usually isn't more than a few days.
You'll have to stare at charts all day if you plan on making this work.
If you're not treating it like a full time job you'll miss trades and lose money.
Customer Reviews And Complaints
There's a decent amount of reviews out there for Phantom training.
However, it's not always wise to trust all overly positive reviews.
The people over at Phantom are definitely behind some of them and for sure encourage customers to leave reviews.
However, there's definitely some you can trust.
One thing customers seem to like is the quality of education.
Many people feel the training modules are easy to understand and effective.
Here's a customer review that sums this up:
There are some negative reviews, though.
One person believes the results coaches and mentors claim are exaggerated:
1300% returns in a month would be ridiculous (an average yearly return is around 10%).
Like I said before there's not a ton out there about the owners.
So you really can't validate their claims about how successful they are or their background.
I've seen other programs lie about returns as well.
Not sure if that's happening here but it's something to consider.
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Phantom Trading Cost
There's two different options for Phantom Trading and they both give you the same thing.
You can either pay monthly ($80 per month) or you can pay yearly ($800).
Those costs aren't too bad.
The training isn't worth $80 per month but the community and mentorship is.
There's many programs that are much more expensive.
The one thing to keep in mind for yourself is every dollar spent on Phantom is a dollar that cuts into your trading profits.
However, Phantom claims they will fund you once you get consistent results on your demo account.
Additionally, Phantom offers a quarterly masterclasses that can cost up to $1500.
There's No Refunds!
This is a pretty big red flag to be honest.
There's no refunds for the monthly or annual subscription.
Additionally, there's no refunds for the masterclass they hold every few months.
Most legitimate programs will offer some sort of refund.
Makes you question how good Phantom is if they won't.
Phantom Trading Pros And Cons
I think Phantom Trading can work for a lot of people.
The training is solid, the community is active and there's even a chance to get funded if you don't have money to trade.
However, this is a serious program.
This isn't for someone that just wants to pick a few stocks a month and sit back while the price goes up.
You'll be day trading here which means every day you'll be spending time trading.
It's very technical as well.
Not all trading is like this but day trading and swing trading forex certainly is.
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