A little late to post, but Fast Track Trading has ceased operations as of November 7th, 2024.

The message was posted on their official website.

They have since taken down their X, Facebook and D....rd  accounts.

Even though they had promised to refund all the active account holders, only a handful were able to get their money out of thousands of active traders with their accounts.

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Now my question to the whole community is this:

What can we do as active traders to receive our refunds?

Who can we complain our problem to? Which authority?

Realistically speaking, what is the chance we will *actually* receive any refund from the firm?

P. S. There is an active group of traders who have made a little chit chat group to tackle this problem, but I wanted to know what the experienced traders have done in the past in this kind of situation. Thank you.

Update: There is a legal action being taken on behalf of the customers who wish to take part in.

PJay is the leader.

Those who want to be a part of it, find him on his X account.

Thanks.

I don't know why but whether or not a firm has Tradovate / Ninja as their trading platform seems to be a major indicator if they will be long term successful and / or legit. Maybe it has something to do with their partnership rules and due diligence?

Anyway sorry to hear another company went under and I sincerely hope no one was negatively affected. There are still other platforms out their (see my posts for my rankings) but as always putting your real money into a personal brokerage (I like Tradovate and Sierra Chart w/ one of their low cost partners) is always the safest way to protect your trading capital

lightsun47 

What can we do as active traders to receive our refunds? Who can we complain our problem to? Which authority? Realistically speaking, what is the chance we will *actually* receive any refund from the firm?

1. Refunds - You can try to chargeback on your credit cards, or pursue legal action. No real other options and the success of either cannot be guaranteed

2. Complain - These companies operate as an "education service" that reward you when milestones are met and not classified as brokerages so I wouldn't expect much from trading, commodities, or futures agencies. You can and should still notify them so they are aware of this though. Ones that come to mind are FTC, state agencies (your personal one, and theirs which is florida), CFP,

3. Chance of refund - Full amount due? 0% Any amount of money 25-50%, and if you do get anything it would be your software monthly fees.