I must admit, I’ve never seen this one coming ! Nial Fuller as the winner of AxiTrader Million Dollar competition ! Click to see the official announcement.
Quick recap: I’ve written my impression about AxiTrader’s marketing exercise disguised as a search for trading talent back in December. You can read the article here.
Nial Fuller is a self styled ‘trading authority’ and ‘professional trader’. He’s been selling $300 Forex price action courses since 2009. Seven years and numerous challenges to back up his claims later, there’s still no verified track-record of his trading. He was exposed as the dishonest internet marketer he actually is in this review by TradingSchools.org.
In the past, Nial Fuller has had at least one type of business relationship with AxiTrader, whereby clients who opened an account with a minimum of $1.000 (if I remember correctly) received his course for free.
Now, I see two possible explanations for his winning the competition:
- He did get lucky. The way the competition was structured, selecting the winner strictly based on the biggest percentage return over a 3 months period, luck played a major role. Being one among maybe a few hundreds participants, Nial Fuller’s probability to win was small, but it existed.
- He was ‘helped’ to get lucky. The skeptic in me can’t sweep under the carpet the fact that the result is very convenient for both parties involved. Nial Fuller can use the fame of winning the competition to attract more clients who then can be directed to open a trading account with AxiTrader.
Later edit: as Janos pointed out in the comments section, there were 123 participants. The user Maverick gambled the minimum amount required of $5.000 and came on top with a 369% return (-71% max draw-down). The identity of Maverick was revealed only yesterday as being Nial Fuller. Assuming everything was done legit, it still casts a bad light on Fuller – why didn’t he say from the start, ‘hey guys, I’m going to try my luck with AxiTrader’s competition, wish me the best’ ? Because he wanted no one to know, had he blown up the account. But now that he won, he can BS gullible people with a text like this:
After taking out the competition, Mr Fuller said, “Winning the competition was a balance of finding quality trading opportunities, applying sophisticated money management and having the discipline not to trade and risk giving up the lead.”