ClayTrader Review 2019
ClayTrader? Who is Clay? Clay is the head trader of the service I´m reviewing.
In this ClayTrader review, I’ll dig deep into the operations of this platform including its owners, the trading styles, products, services, and cost.
Besides this, you will learn more about my personal opinion of the platform and how it does compare to other trading course providers.
Is ClayTrader scam or not? In Summer 2019 Clay completely redesigned his website and services. This ClayTrader review reflects the new facts.
Let’s begin with the people behind this brand.
“Clay Trader” presents himself as a nice down-to-earth guy next door to whom his family and friends mean a lot more than a fancy car, millions of dollars and the so-called Wall Street Lifestyle.
Clay Trader is a platform that offers day trading for beginners and chat room services to technical traders.
Despite being a paid service, the platform makes use of its social media platforms to share useful trading tips to its community of followers.
Clay is the founder of ClayTrader; however, his full name is not recorded anywhere on the site or on his social media pages.
On an older version of his website, you could read that he found interest in the stock market in 2005 when he was enrolled at Ohio State University.
The real name of ClayTrader is Clay Huber - according to his Google Plus profile.
Why should one hide his name selling products to customers? We all know that Ross Cameron is the head trader at Warrior Trading. Jason Bond is the guy behind Jason Bond Picks. And why does Clay hide his full name?
Also, if you follow the navigation on his site to https://claytrader.com/team/ then you will realize that there is no information available about "his team." Who are the people you are working with?
More about ClayTrader
Clay's journey in trading apparently started off with him selling mutual funds in 2005 leading to a thriving career in day trading.
As he likes to tell his initial trading journey, he started off as an emotional trader which mostly ended up in him losing money.
Today, he believes he trades strategically, relying on facts and figures from his technical analysis methods and past experiences.
ClayTrader was founded in 2013 and is currently made up of over 3,200 registered user drawn from over 170 countries, based on their own statement.
Please note, that the information about ClayTrader was taken from the old ClayTrader website.
The new about section here: https://claytrader.com/about/ does not mention any personal information about Clay and his trading journey any longer.
This is a bit strange because the information about ClayTrader is even thinner than ever before.
I had the hope that the new design of the website https://claytrader.com/ will reveal more personal information.
Finally, Clay and/or it's team are active contributors on investorshub but other that, its records get a bit fuzzy as you’ll notice by the end of this review.
Products | Services | Costs
ClayTrader Inner Circle
The Inner Circle is ClayTrader’s base product – in its simplest, the concept behind it advocates for surrounding yourself with the best for you to become the best.
The Inner Circle grants you instant access to ClayTrader’s platform at an annual or quarterly fee.
The product also grants you access to live chats, watchlists, trade ideas, a Newsletter and more.
Here are the ClayTrader Inner Circle benefits for subscribers in detail:
ClayTrader Chat Room
This is the core part of the platform’s community and it allows members to exchange information in real-time. Three live chat rooms are available.
This is also the channel through which Clay and his team share daily trading alerts and other critical components of the trades.
The live chatroom is exclusive to the Inner Circle and the Trading Freedom Pathway members.
Power Profit Scans
This exclusive feature of the Inner Circle grants members access to Clay’s personal watchlists and scans provided via a weekly newsletter.
The Inner Circle members have a chance to mingle and build lasting relationships with fellow traders and regulators who can be instrumental towards shaping their trading careers. A mobile app is also available.
Inner Circle Costs
To be a member of the Inner Circle, you’ll be required to part with $99 per quarter or $297 for one year. Here is a screen shot from ClayTrader's website:
Right now, you can reach the Inner Circle page by using the main navigation "Private Community."
The ClayTrader Inner Circle comes along with fair pricing. $99 for a three months access sounds reasonable for those looking to interact with other traders mainly.
I always recommend staying away from interaction with other traders while trading because it's completely distracting and you won't behaviorally learn anything.
But if you are looking for a network of traders, then you might enjoy the Inner Circle. And if you compare the price to Nathan Michaud's Investors Underground, then ClayTrader is a bargain.
See Also: Investors Underground Review
I am not sure if those three live chatrooms include real-time streaming of Clay's trading account.
It's hard to tell from the outside, and my interpretation of his own explainer video is that he only posts trades. He does not trade all those alerts himself, and it seems that he does not stream his trading account.
If you know it better, feel free to contact me and let me know more details.
Why is this so important? It's important because it adds to trust.
Look, Nathan Bear from Weekly Money Multiplier shares his desk all day long. He trades all those trades he calls. You see him winning and occasionally loosing. That's, the real-life of a trader.
IMO, the ClayTrader Inner Circle is for traders who are looking for networking. But in my experience, it is impossible to come up with a consisting strategy by listening to hundreds of other people.
Is ClayTrader Scam?
Instead of blaming someone to be a scam, let's focus on constructive criticism.
If you subscribe, then your subscription will auto-renew! Basically, that's okay if it is easy to understand for subscribers.
But this fact is hidden within the terms and conditions. You have to set a checkmark to agree to these terms and conditions.
So if you agree, read them before setting the checkmark! There is absolutely no information about an automatic renewal on the subscription page itself.
Yes, the information is available in T&C, but transparency would be if the auto-renew would be mentioned on the subscription page itself.
If the auto-renew takes place for the ClayTrader Inner Circle, it might not hurt you that much because it's $99.
However, the same hidden scheme is valid for the ClayTrader Trading Freedom Pathway (former ClayTrader University) with yearly costs of $2,497 !!! Ouch, if the auto-renew hits you unexpected!
You are solely responsible to chancel the service!
Also, be careful about the 30-day money-back guarantee for the ClayTrader Trading Freedom Pathway.
There are some limitations regarding the "guaranteed" money-back promise!
Again, also the limitations are mentioned in the terms and conditions at claytrader.com only. I will it explain in more detail a bit later in this ClayTrader review.
Make sure to read the T&C carefully and ask Clay and his team if you have a question - before your purchase!
So, ClayTrader is not scam, but the T&C are not where ClayTrader shines.
ClayTrader Trading Freedom Pathway (aka ClayTrader University)
The ClayTrader Trading Freedom Pathway is the new premium service at claytrader.com
It seems that the old ClayTrader video library is now part of this package. But let's talk about the details.
What is included in the Trading Freedom Pathway?
- ClayTrader University Lifetime Access
- ClayTrader's Scanner Setting's Guide
- Weekly Online Training With Clay (live)
- Personal Interaction with Clay
- One Year Inner Circle Access
In the past, the ClayTrader University alone had stood at $1,997.
When surfing the web, you see that some people have termed this as the biggest ClayTrader rip-off, but still, some believe that the benefits mentioned above plus more are worth every penny.
But let us remain objective here.
One thing is for sure, $1,997 was already a word, and one had to be sure that he can make back this investment when he pays this price.
Now, the ClayTrader Trading Freedom Patway is priced at $2,497 per year.
Look, I mentioned Nathan Bear's Weekly Money Multiplier above. He streams his whole trading account in real-time and does tons of education each year for a much lower price.
So while the Inner Circle has an interesting pricing tag, the more expensive Trading Freedom Pathway costs have to be put into the right context.
That's why it is so important to also compare trading courses before making the final decision.
Be Careful When Subscribing to ClayTrader - Read the T&C
As I said before, ClayTrader doesn't shine in regarding the T&C transparency.
As you can see from the screen shot taken from claytrader.com, there is no hint visible, that the $2,497 is a yearly auto-recurring fee!
If you do not chancel your subscription early enough, then you get charged this amount year by year!
This is a bad marketing practice. If there would be at least an "*" or "1" beside the price would give subcribers the clue, that there are stings attached.
But at claytrader.com the "hidden agenda" goes through all products and services.
And can you see the little blue note at the top "30 day - 100% money back guarantee"?
But this is not a 100% money back guarantee. There are strings attached to get a refund. Let's have a look at the current T&C from claytrader.com:
I am not going to repeat the whole limitations. You just should know that the refund guarantee is not a guarantee at all.
Please, also understand that other trading services do it in a similar way.
But the point is, that there are also other trading services that shine in terms of transparency.
Some publish their account statements; some share their trading desk all day long, some point out clearly that services are auto-recurring and so on.
For me, transparency is the most crucial aspect when it comes to trading education.
Would you send your kids to school knowing that the teacher never made his degree? In trading, there is not a degree, so proof of consistent profitability is what remains. Plus clear statements regarding the payment terms.
Now let's have a closer look at the services offered within the ClayTrader Trading Freedom Pathway.
ClayTrader University Lifetime Access
You get access for a lifetime to various video online classes. You can watch those videos whenever you want.
ClayTrader's Scanner Setting's Guide
Clay uses a market scanner and teaches you how to set up the scanner yourself.
Weekly Online Training With Clay (live)
Clay likes to teach you the successful habit of traders during those live online trading events.
Personal Interaction with Clay
If you have any question, you can send this question per email to Clay, and he will answer your question directly.
One Year Inner Circle Access
The Inner Cycle worth $297 per year is included in the ClayTrader Trading Freedom Pathway subscription.
As a bonus, you gain access to Clay's Trading Video Journal, future ClayTrader University videos and discounts for his other two projects at MoneyWithClay.com and MaintainTheGains.com
Also, you can make money referring your friends to claytrader.com
ClayTrader at YouTube
Trading videos are a core part of the ClayTrader platform; they play a key role in keeping its community of users updated on the latest trends in day trading.
One of the most common platforms for sharing video content is the official ClayTrader YouTube channel and their official website videos.
On YouTube, the platform has a community of servers to the tune of 188,000 subscribers.
Proof of Performance
For this review, I searched for public account statements for ClayTrader.
Unfortunately, I haven't been able to find any, and so, it is not easy to tell if ClayTrader is truly and completely legit.
He sometimes publishes screen records on YouTube where you can see him making a trade.
But as we all know, the overall performance counts.
Ross Cameron publishes his account statements on his website at Warrior Trading.
Jason Bond shares his account with Jason Bond Picks subscribers.
Nathan Bear even shares his entire trading account in real-time all day long at Weekly Money Multiplier.
And Clay? It would be great if he would also start publishing account statements or if he would share his trading account with his subscribers in real-time.
That would increase my rating tremendously.
To give you a bird’s-eye-view of the platform, I have prepared a quick checklist for you below:
- Founded: 2013
- Company Address check: claytrader.com, PO BOX 141651, Grand Rapids, Michigan 49514, United States, firstname.lastname@example.org
- Free trial: No
- Money back guarantee: Many limitations mentioned in the T&C
- Transparency: Not as transparent as other trading services
- Verified income statements: None
ClayTrader Review Summary
The brand new ClayTrader website looks great and the navigation is easy.
But, I honestly have a few concerns about ClayTrader products and services.
Intransparent payment terms
They hide the information about auto-renew subscriptions in the terms and conditions page only.
Yes, subscribers have to set a checkmark to confirm that they have read the T&C and part of the T&C is the payment terms with the auto-renewal note.
But I am sure that more people would read the T&C if it would be more clear that there are strings attached.
A little "*" besides the price would give this clue. Or a little "?" to hover overseeing the terms related to the auto-renewal.
Maybe ClayTrader will consider my feedback in this ClayTrader review to improve their payment terms transparency.
Limited Money Back Guarantee
As lined out above the money-back guarantee has strange limitations. Don't get me wrong here.
It is not uncommon in the trading course business that there is no money-back guarantee.
But my point is another one. If someone uses a "money-back guarantee" promise to promote/sell his products, then it should be a guarantee. And not a guarantee with tons of limitations mentioned in the terms and conditions. Period.
It is bizarre that Clay hides his name. His name is Clay Huber and for some reason, the "about page" now doesn't longer include detailed information about his background.
No name, no background information, also no information about the team at claytrader.com. Also, we don't know anything about the ClayTrader net worth. How does he make money? By trading, or teaching?
No proof of profitability
No account statements, no live screen share during trading days. Do you know if he ever made consistent money?
If he never made money over a longer period, would you buy his course or join his community?
It would be great if he would publish his account statements or share his trading screen all day long with his subscribers.
New Technical Terms
In my first ClayTrader review, I also mentioned that I do not like the fact that he uses newly created terms for technical analysis.
If this is still the case, then it might be a bit irritating for people that don't start from scratch.
I appreciate that Clay invests a lot of time to publish new content regularly.
His Inner Circle has a reasonable price tag for people who like to take a closer look at his services first.
Without those transparency limitations, I would give a much better rating.
The biggest downside for me is the regulation of the money-back guaranty and the hidden auto-renew terms.
When I hear about a money-back guaranty, then I expect that I really have one.
And when I subscribe to a recurring charged product, then I expect transparency about the payment terms.
Furthermore, I do not understand why he never mentions his real full name. I like to know what person I send my money to. Clay continues to provide very little information about him and his team.
The trading educator and trading course business are disreputable enough and the lack of transparency like ClayTrader provides is not helpful at all to let trading courses shine.
I prefer using free education services like the ones Trade Ideas provides.
And if you really need paid content to gain a better understanding of the markets, you should take a look at this article: The 10 Best Trading Courses
This was the ClayTrader review. I hope it was helpful for you.
So far, I haven't had a chance to test drive ClayTrader's products and services. For that reason, I cannot provide an inside perspective yet.
In the past, it happened, that I changed my opinion to the better once free access to a review service was granted.
That's because sometimes content can be extremely good even if the payment terms are not.
I will keep you posted and update the ClayTrader review once Clay provided free access for a detailed, in-depth audit.
Chances are that the rating will increase once I have full transparency about his services.