InPennyStock - Save Your Pennies
First of all, why would anybody trade penny stocks? Between the liquidity traps and pump and dump schemes, it's a loser's game. But, this review isn't about trading penny stocks, it's about Mubarak Shah and his company In Penny Stock Inc. However, if you need some compelling reasons why you shouldn't trade penny stocks, click here to watch a number of great videos on the subject.
Back to InPennyStock. My first, and only, experience with Mubarak Shah and his penny stock trading education company was back in 2015 when I first began trading. I had no idea what I was doing, so I turned to the internet to learn as much as possible about the subject. At some point, I stumbled across the inpennystock.com website. On the site were a variety of videos covering subjects like support/resistance, stock scanning, best time to trade and, of course, why someone should trade penny stocks.
I accessed the videos through the "MEMBERS" portal of the website, which struck me as odd at the time because this was an area of the site that should have been restricted to paid members - which I was not. However, I was able to access and view the videos at will.
A couple of months after discovering inpennystock.com, Mubarak rolled out an "Executive VIP" membership and offered a $100 introductory discount off what would be the regular price for the program. Here's an excerpt from the email I received at the time:
There are just a couple of Executive VIP 1 on 1 Coaching spots remaining. This is one of the only times during the year that I offer private coaching. Executive VIP 1 on 1 Coaching members also get FREE ACCESS LIFETIME access to ALL of the InPennyStock VIP Videos, you will also get exclusive access to all 5 of my Udemy Courses (a $1199+ value) FREE OF CHARGE.
The Udemy Courses referenced in the email were marketed as newly developed premium content for VIP members, and additional new courses were to be added in the future. Although I wasn't interested in trading penny stocks, I did gain some knowledge from the videos I had accessed on the InPennyStock website. So, I decided to take advantage of the offer.
I paid for the course and received a welcome email containing links to 4 Udemy courses, not 5 as the offer had stated. That was the first red flag. When I attempted to access the courses, the links I had been given were invalid. Red flag number two. Then, when I went to contact Mubarak about these issues, I discovered the InPennyStock website did not include a phone number. Another red flag.
There was, however, a contact form I could complete and submit through the site. And, the instructions for completing the form stated Mubarak would respond within 24 hours. So, maybe everything would be okay.
Two months and multiple contact form submissions later, I disputed the charge with my credit card company. Then and only then did I finally get a response from InPennyStock. Meanwhile, the welcome letter email had specified I would be contacted "soon" to set up the on-on-one coaching call with Mubarak. That never happened. If I had received the call as promised I would have addressed the issue directly with Mubarak and not had to dispute the charge.
In any event, the email response I received acknowledged the dispute, suggested we could resolve the matter and contained corrected links for the Udemy courses I had previously been unable to access. Okay, it took a while, but I had finally received what I had paid for and been made whole. Right? Wrong!
The courses on the Udemy website were the same videos I had been accessing for free on the inpennystock.com for months. The identical videos! There was no new "premium content". Mubarak had simply uploaded his existing videos to udemy.com in an effort to further monetize the content. Needless to say, I demanded a full refund.
The Bottom Line: A penny saved is a penny earned. Given my experience, I would highly recommend not wasting your pennies on inpennystock.com.