Recently, we have come across a post on EliteTrader.com (see its screenshot below – click on it and other images to enlarge them) that concerns our blog.
Since this post was written by a brazen shill of one Emmett Moore, a certified criminal who scammed many people in his previous career, ended up serving nearly 3 years in one of those highly guarded facilities, and now claims to be a reformed felon, it is not unreasonable to view it as not so thinly veiled an attempt at discrediting our blog by insinuating that we have some sort of vendetta against Big Mike (Michael Boulter) and his questionable forum, meaning that our motivation behind criticizing Big Mike’s business is tainted by hidden personal reasons.
Emmett Moore is an owner of a review site, which we intend to review among other major review sites focusing on the trading marketplace. Isn’t it telling that so many criminals are drawn to this marketplace? Telling also is that Emmett Moore has yet to review futures.io, which is a vendor site too, but have reviewed many smaller, less significant, and less dangerous players. Is he trying to justify this by suggesting that only those with some vendetta could possibly have an issue with Big Mike and his business?
And then, even more recently (see another image), we got asked by one of our Twitter followers what Big Mike had done to us, again intimating some personal reasons.
We decided to respond to this in this article.
We have never been members of the Big Mike Trading forum (now futures.io) and have never dealt with him in any other manner. We have never met him either. We are not vendors nor brokers. We have no agenda except the one we outlined before (see this, for instance).
Our strong dislike, which we don’t hide one bit, for him and his business cannot thus possibly be interpreted as a vendetta against him (there’s just no reason for it) and cannot even be personal as usually understood. More precisely, our dislike is not primarily personal.
This dislike has mainly to do with the fact that Big Mike and his “forum” routinely violate the most fundamental and cherished values of modern liberal society: integrity, transparency, and freedom of expression.
Of these three, freedom of expression is of paramount importance as it underlies transparency and without transparency it is hard to imagine integrity too.
Yet, Big Mike has absolutely no respect for freedom of expression.
He once banned Roger Felton for expressing a negative opinion about Big Mike’s trading “erudition” (we used quotation marks here because the combination of “trading” and “erudition” is an oxymoron when it comes to Mike Boulter). This opinion was not even expressed on the Big Mike Trading forum, but in private via email to a third party who reported this to Big Mike, apparently trying to score more brownie points, a most favorite pursuit of many of Big Mike’s followers.
It goes without saying that acting that way Big Mike also showed how much respect he has for the privacy of Roger Felton’s correspondence; don’t be surprised that the user privacy on futures.io really does not exist.
The way Michael Boulter treats freedom of speech is as un-American as it gets, which probably also explains why he no longer even lives in the US but in Ecuador. Americans (see the next image via Twitter) still stand out when it comes to the appreciation of freedom of expression.
This dislike has also to do with the fact that futures.io is a blatantly criminal vendor enterprise (or a mafia type of enterprise serving the interest of a clique of vendors favored by Michael Boulter and often carrying water for him) and not really a trading forum.
We know of no other site, be it a site dedicated to trading or any other site except those blatantly criminal, that would be like futures.io. What’s worse even among those criminal, futures.io may stand out in its offensiveness.
And yes, our strong dislike for futures.io is personal too, as we alluded above, but mainly in that this bogus trading forum and his owner are an insult to our sense of decency, which we have also said in one of our tweets (see the second image above).
We do dislike Big Mike, and that’s certainly personal too, because he is a deceptive, manipulative man, and quite insecure too as you would expect a fraud who blew two of his trading accounts and decided to recoup his losses by peddling dreams to the masses of other losers to be.
He is a sociopath. You just can’t possibly like someone like that.
Here are just a few ways how futures.io has been criminally negligent if not deliberately criminal:
1. posts offered in bad faith, often not based in facts, whose main goal is to hurt someone’s business are not so uncommon in the review sections and are encouraged in more than one way (we could write a whole article about that) – that’s libelous and Michael Boulter has already been sued once for that and forced by the judge to remove offending pages.
2. since Michael Boulter is a vendor too and the forum attracts a large number of vendors, who (just like him) may hide being vendors, one can argue that the vendor review section that distinguishes itself by running hit jobs and being heavily manipulated attests to a criminal conspiracy between Big Mike, his anointed vendors, and other members of the forum (a conspiracy may only be implied to be litigated) – the vendors smeared there cannot easily respond to that because they can be banned if trying to.
3. to become a member of the Elite section of the forum you must pay $100, but you can be banned from it and all other sections of the forum for any reasons whatsoever – this is not just a very unfair deal, but simply a scam!
4. Michael Boulter tried to scam his followers by running a legal support fund after he got sued for promoting a smear against a futures broker – it was a scam/fraud for he was asking for the money under a totally false pretense of defending freedom of speech while in reality he did not let the broker use the forum to respond to the smear!
5. it is known that futures.io has been used for peddling knockoffs of indicators (that’s the real unique selling proposition of the Elite membership), which amounts to facilitating the theft of intellectual property.
6. if you are a vendor and want to make sure your indicators or their knockoffs are not being peddled on futures.io, you need to pay $100 to gain access to the Elite section of the forum, which amounts to extortion!
Futures.io is not just another dirty online business and another dirty vendor enterprise – it is criminally dirty and it is so by design.
Speaking of extortion again, Michael Boulter has been publicly accused of it by some trading room operator on Ripoff Report. What do you do if you are accused of something like that? You demand a retraction and apology or you sue unless you are guilty as charged in which case you hide.
What did Big Mike do? He decided to hide in Ecuador. Yep, that’s how big he is.
The fact the site we are discussing here has been hit with just one lawsuit may seem quite remarkable in light of what we wrote above. But keep in mind that only relatively big businesses can afford to launch a lawsuit. That’s why the Big Mike Trading forum has been sued by a relatively large futures brokerage and not by a vendor, even though this “forum” is particularly malicious towards vendors, usually smaller ones too, with whom it directly competes.
None of the points listed above could apply to EliteTrader.com forum and perhaps only one or two of them are pertinent to less respectable or less popular trading forums out there. That’s because these sites actually are forums and not criminal vendor outfits.
Not surprisingly, all large respectable trading forums are based in developed Western countries. Futures.io, however, is under the Panama City jurisdiction, its owner lives in Ecuador and pretends via his Twitter feed that he is operating out of the US. If you have to resort to this type of arrangement to run a business, your business simply cannot be trusted.
It is true that we have been dedicating a lot of time and space to Big Mike Trading forum (now futures.io) and that may have given some people the impression that we are somehow obsessed with Big Mike and even have a vendetta against him.
But that in part is so because this phony trading forum run by a reckless moron who blew two of his trading accounts and then got sued is “a gift that keeps on giving,” to use a popular US catchphrase, in that its fraudulent nature is becoming more and more obvious with time.
We could be talking about other vendors here too, and occasionally we do, but the overwhelming majority of them are much less offensive, less dangerous, and less influential than Big Mike. Not to mention that picking on small players, many of whom are really ephemeral, is not just rather cheap and self-serving (in very much the same way all those “reviews” on futures.io are), but probably also not time best spent. And there are just too many of them.
We prefer to target bigger, more influential players who can do more damage to the masses of poor suckers pursing trading dreams and to the integrity of the trading marketplace.
In this very spirit, we have talked about vendor syndicates to which futures.io also belongs. We will continue this theme. We will also be talking about the vendors Big Mike promotes and about review sites many of which are very self-serving and often not exactly what they may appear to be. Again, futures.io is one of such sites too, so we cannot avoid mentioning it when discussing other such sites.
While we plan to talk about many other things in future, we will not avoid returning to futures.io nor do we believe that we even should try to avoid doing so because that would mean self-censoring.
Finally, let us also note that the fact so many trading vendors (or brokers, for that matter) have chosen to use futures.io for self-promotion implies a disturbingly low level of integrity among a large number of vendors (brokers). It also implies short term thinking, quite typical of parasitic businesses. That’s certainly not a place to be seen. Do you really want to be associated with the likes of Harald Steinhaus, a perfidious German scumbag?
Michael Boulter, a pathological, manipulative liar whose site is much more criminally offensive than most trading sites out there is not just a bearer of standards for this industry of scam, but a paragon to emulate.
And that illustrates yet another reason why we have been focusing on the Big Mike Trading forum (futures.io) so much – it offers more insight into the widespread pathology of the trading marketplace than focusing on the random small fish.
So no, we don’t have a vendetta against Big Mike – that’s a take-home message to all who managed to read this article through. We suspect no devoted Big Mike fan is among them as their attention span can accommodate three paragraph “articles” at best and this article is much longer.