Day trading has this magnetic pull, doesn’t it? The promise of quitting your 9-to-5, calling your own shots, maybe even making a fortune from your laptop. But here’s the thing: the reality is a lot less glamorous than the Instagram reels suggest. Most day traders fail—hard—and the statistics are brutal.
That’s where Investors Underground comes in.
Founded back in 2008 by Nathan Michaud, Investors Underground (IU for short) has become one of the biggest names in day trading education. We’re talking about a platform that’s survived multiple market cycles, housed some of the most successful momentum traders on the web, and built a reputation for actually teaching traders how to think—not just what to buy.
But with membership prices that can make your eyes water and a chat room that moves faster than a parabolic short squeeze, is Investors Underground really worth it in 2025? Our team dove deep into this platform to give you the honest breakdown. We’ll cover the features, the pricing (including some special promotional deals we secured), who this service is actually for, and whether Nathan Michaud’s approach can genuinely help you become a profitable trader.
Let’s get into it.
What Is Investors Underground?
Investors Underground isn’t your typical “follow my signals and get rich” trading service. It’s a comprehensive day trading community and educational platform that’s been operating since 2008—which makes it one of the longest-standing services in this space.
Here’s what sets IU apart: the entire philosophy is built around education and self-sufficiency. Instead of spoon-feeding you buy and sell alerts, the moderators share their thought process, game plans, and real-time decision-making. Think of it like learning to fish instead of just getting handed fish. The goal? To turn you into an independent trader who can read the market on your own.
The platform combines live trading chat rooms, proprietary scanners, daily watch lists, pre-market broadcasts, and a massive library of over 1,000 video lessons. It’s a one-stop shop for active day traders who are serious about making this work.
And make no mistake—this is for serious traders. If you’re looking for casual, set-and-forget investing, you’re in the wrong place. IU is designed for people who eat, sleep, and breathe the markets. The community is tight-knit, professional, and expects you to show up prepared.
Meet Nathan Michaud: The Man Behind IU
Trading Background and History
Nathan Michaud—better known as @InvestorsLive on Twitter—is the founder and driving force behind Investors Underground. This isn’t some guru who made a few lucky trades and decided to launch a course. Nate has been in the trenches since 2003, which means he’s got over 22 years of real trading experience under his belt.
His journey started during his freshman year at the University of New Hampshire. While most college kids were learning poker and partying, Nate was glued to his Palm Pilot (remember those?) trading penny stocks and OTC markets. His girlfriend—now wife, Laura—was basically his lifeline, keeping him organized with her meticulous notes and reminding him when tests were coming up. Classic trader move.
By 2004, Nate launched InvestorsLive.com to combat his own bad habit: over-trading. He’d be up nicely in the morning, then give it all back throughout the day. Sound familiar? The blog forced him to document his trades, explain his reasoning, and analyze what was on his watch list for the next day.
Fast forward to 2007. Nate graduated with a finance degree and had built a following of hundreds of traders. He teamed up with Bill “Muddy” and Laura from Green on the Screen—a like-minded trading community—and they asked themselves a simple question: What would actually help traders succeed? A year later, Investors Underground was born.
Here’s a bit of history that matters: From 2013 to 2015, IU was part of Tim Sykes’ Profit.ly network. But Nate had a different vision. He wanted to build the biggest and best online trading community where everyone could benefit—not just follow a single guru. So they split. And honestly? That decision shaped what IU is today: a community, not a cult of personality.
Trading Style and Philosophy
Nate specializes in momentum trading. He’s known for his ability to read inflection points and spot exhaustion in high-momentum stocks. His mantra? “Respect your risk.” You’ll hear it constantly in the chat room and throughout the courses.
What we love about Nate’s approach is the transparency. He trades live every day with his own money. He posts both his wins and his losses. He’s not trying to sell you on some perfect track record—because that doesn’t exist in trading. He’s showing you the messy, real-world process of reading the tape and managing risk.
And he’s accessible. Nate’s famous for responding to member messages within eight hours, 97% of the time. That level of responsiveness from a founder is rare.
Beyond Trading: Traders4ACause
In 2013, Nate co-founded Traders4ACause, a nonprofit organization that supports charitable causes within the trading community. It’s a nice reminder that even in the cutthroat world of day trading, there’s room for giving back. This isn’t just about making money—it’s about building a responsible community.
Core Features: What You Actually Get
Let’s break down what you’re paying for when you join Investors Underground. Spoiler: it’s a lot.
Live Trading Chat Rooms (The Heartbeat)
The chat rooms are the soul of IU. This is where the magic happens—and where beginners get overwhelmed. There are four main rooms:
Momentum Chat Room (The Main Hub)
This is where most of the action goes down. The room is active from 9 AM to 4 PM ET every trading day, and it’s buzzing. We’re talking hundreds of traders discussing setups, sharing ideas, and reacting to real-time market moves.
But here’s the thing: This isn’t a signal service. You won’t see “BUY XYZ at $50.25” blasted in all caps. Instead, moderators share their watch lists, explain their thought process, and call out potential setups as they develop. For example, Nate might say, “I’m watching TSLA for a weak open to go long, or I’ll short if it gaps up and fails.”
The strict moderation keeps the room focused. Off-topic chatter gets you muted. Some traders find this harsh at first, but after a month, you’ll understand why. The noise is eliminated, and the signal-to-noise ratio is pristine.
Swing Trading Chat Room
Managed by Michele of TradeontheFly, this room focuses on multi-day setups. If you prefer holding positions overnight or for several days, this is your spot. The pace is slower, the analysis is deeper, and the focus is on technical patterns that play out over time.
OTC/Crypto Chat Room
For traders interested in penny stocks or cryptocurrency, the OTC room offers ideas and discussion. It’s the least active of the three main rooms but has a dedicated following.
Traders’ Lounge
This is the only room where off-topic conversation is allowed. Market talk, sure, but also life stuff. It’s the break room of IU—where the community vibes without the pressure.
Daily Watch Lists & Pre-Market Broadcasts
Every night, multiple moderators—Nate, Sam, Stan, Chris, Emil, and others—publish their watch lists for the next day. These aren’t just ticker symbols. Each watch list includes the chart, the setup, and the game plan.
For example, Nate might write: “I’m watching $XYZ after this consolidation. If it breaks $45 with volume, I’ll look to add. If it gaps up too fast, I’ll wait for the pullback or short the exhaustion.”
This approach teaches you the “why” behind the trade—which is infinitely more valuable than just being told what to buy. You learn to think like a professional trader.
Pre-market broadcasts happen every morning before the bell. Moderators hop on mic to walk through their watch lists, discuss overnight news, and set the tone for the day. If you’re serious about day trading, this is your morning ritual.
Proprietary Scanners & Trading Tools
One of IU’s biggest selling points is the scanner suite. Most traders pay $100-$200/month for platforms like Trade-Ideas or Scanz. IU includes professional-grade scanning tools in your membership—which alone justifies a chunk of the cost.
Here’s what you get:
Pre-Market & Intraday Momentum Scanners: Filters by gap percentage, float size, volume, price—you name it. You can spot pre-market movers or intraday breakouts in seconds.
Trend Scanner: Uses proprietary algorithms to identify stocks showing strong intraday trends on both the long and short side. Customizable filters let you dial in exactly what you’re looking for.
Most Active & HOD/LOD Lists: Real-time tables showing the highest volume stocks and the stocks printing fresh intraday highs or lows. This is gold for momentum traders.
Advanced Alerts: Unlimited price alerts, VWAP pings, halt timers, IPO alerts. Set it and forget it—the system notifies you when your conditions are met.
AI-Powered News Alerts: IU’s platform monitors breaking news and uses AI to flag stories with a high likelihood of moving stocks. Combined with an earnings calendar, analyst rating updates, SEC filings, and newsletter tracking, you’ve got a comprehensive information edge.
Want to learn more about using scanners effectively? Check out our guide on finding stocks to trade with stock scanners.
Educational Video Library (1,000+ Lessons)
This is where the Elite membership shines. IU has built a library of over 1,000 video lessons covering everything from basic chart reading to advanced short-selling strategies.
The trade recap videos are particularly valuable. Every week, moderators break down their trades from the previous days—wins and losses. They walk through what they saw, why they entered, where they exited, and what they’d do differently. If you’re lost in the chat during the day, these recaps help you understand what happened.
The video library is organized by topic, so you can binge-watch lessons on specific strategies, setups, or concepts. Think of it as having a Netflix account for day trading education.
Live Webinars & Study Sessions
IU hosts monthly webinars where members can submit questions and get detailed answers from moderators. These aren’t pre-recorded seminars—they’re live, interactive Q&A sessions.
Midweek study sessions happen several times a month. These are like office hours where traders can discuss specific setups, review confusing concepts, or get feedback on their trading plans.
The accessibility is what stands out. You’re not screaming into the void. The moderators show up, engage, and genuinely try to help you improve.
The IU Trading Courses: Comprehensive Education
IU offers three flagship courses that can be purchased separately or bundled with membership. If you’re serious about day trading, the bundled packages offer the best value—and honestly, the courses are where a lot of the learning happens.
Textbook Trading (Foundational Course)
Length: 8+ hours of streaming video
Value: $997 if purchased separately
Textbook Trading is the foundational course that every IU member should start with. It covers everything you need to get up and running as a day trader:
- Market basics: candlesticks, Level 2, understanding float, how to use scanners
- Brokerage setup and choosing the right tools
- Money management and risk management basics
- Actionable chart patterns: ABCD setups, red-to-green moves, morning faders, OTC breakouts
- Real trade examples with commentary
The course is considered “beginner-friendly,” but don’t let that fool you. Nate packs in intermediate and advanced concepts throughout. If you’re only going to take one course, make it this one. Traders consistently say the first hour alone was worth the full price.
Tandem Trader (Advanced Real-Time Trading)
Length: 12+ hours of tick-by-tick footage
Value: $1,497 if purchased separately
Tandem Trader is a masterclass. Period.
Here’s what makes it unique: Nate spent a year recording his trades in real-time—screen capture, Level 2, every click, every decision. Then he and his colleague Cam layered commentary on top to explain what they were seeing and why they acted.
This isn’t theory. This is watching a professional day trader execute live, in the moment, with all the context. You see:
- How to read Level 2 tape (spotting hidden buyers, shakeouts, exhaustion)
- Parabolic short setups and late-day fades
- Building and updating watch lists as catalysts develop
- Managing winners and cutting losers in real-time
If Textbook Trading teaches you the “what,” Tandem Trader shows you the “how.” Many successful traders cite this course as the turning point in their education. Fair warning: You’ll get more out of Tandem Trader after you’ve spent some time actively trading. The lessons hit differently when you’ve felt the pain of a bad trade yourself.
Swing Trading Course
Length: 6+ hours of video
Value: $997 if purchased separately
The Swing Trading Course is for traders who prefer a slower pace. Instead of scalping intraday moves, you’re holding positions for days or weeks.
The course covers:
- Swing trading methodology and mindset
- Bullish and bearish chart patterns (flags, wedges, head-and-shoulders)
- Finding key price levels using support, resistance, moving averages, and Fibonacci
- Trade management: setting alerts, scaling out, managing overnight gaps
If you want to master different day trading strategies, having swing trading in your toolkit gives you flexibility when intraday setups aren’t lining up.
The Team: More Than Just Nate
One thing that separates IU from “guru services” is the team. You’re not following one person’s style—you’re learning from a diverse group of professionals.
Beyond Nate, the IU moderator roster includes:
Sam: Known for his VWAP strategies and large-cap momentum plays
Stan: Specializes in late-day setups and breakdowns
Cody: Focuses on finding momentum before it happens, primarily on the long side
Chris Lanzilotti: Combines fundamental and technical analysis with a focus on market cycles
Emil: Swing trader with experience dating back to 2000
Josh, Judah, Nick, Max: Each brings unique expertise in different setups and timeframes
The diversity is intentional. Different market conditions favor different strategies. Having access to multiple successful traders—each with their own approach—helps you find what clicks for your personality and schedule.
This is anti-guru. There’s no cult of personality. It’s a team of professionals sharing what works for them, and you get to learn from all of them.
Investors Underground Pricing Breakdown (2025)
Let’s talk money. IU isn’t cheap, and they’re upfront about it.
Current Promotional Pricing (Via Our Affiliate Link)
We’ve secured special promotional pricing for our readers that’s significantly better than the standard rates on IU’s website:
Quarterly Subscription: $597 (Save $300 from the regular $891)
Includes: 3 months IU access, daily watch lists, all chat rooms, scanners & tools, pre-market broadcasts, midweek study sessions, 700+ video lessons, support and guidance
Annual Subscription: $1,697 (Save $1,867 from the regular $3,564)
Includes: 12 months IU access, all the above features
Courses + Annual Subscription Bundle: $1,997 (Save $4,061 from the regular $6,058)
Includes: Textbook Trading Course ($997 value), Tandem Trader Course ($1,497 value), Swing Trading Course ($997 value), plus 12 months of full IU access with all features
Get instant access to Investors Underground’s promotional pricing here
Standard Pricing Structure
If you go directly to the IU website without our promotional link, here’s what you’ll pay:
Monthly Membership: $297/month
Quarterly Membership: $697/quarter (22% discount, works out to $232/month)
Annual Membership: $1,897/year (47% discount, works out to $158/month)
All plans include: Active chat rooms, scanners & tools, pre-market broadcasts, trade recaps, nightly watch lists, Traders’ Lounge, midweek study sessions, and 1,000+ video lessons.
Courses can be purchased separately, but the bundles offer better value.
Is It Worth The Investment?
Let’s do some math. If you go with the annual plan at $1,897, that’s about $158 per month or roughly $5.20 per trading day (assuming 252 trading days per year).
Now compare that to:
- Trade-Ideas scanner: $100-200/month
- Level 2 data: $20-30/month
- One bad trade from overtrading or FOMO: $500-1,000+ lost
If IU helps you avoid just two or three costly mistakes per year, the membership pays for itself. And if the education and community accelerate your path to profitability, the ROI becomes exponential.
But—and this is important—only if you’re going to use it. If you join IU, watch a few videos, pop into chat twice, and then ghost? You’re wasting money. This platform is for traders who show up every day, put in the work, and treat trading like a business.
Who Is Investors Underground Actually For?
Investors Underground isn’t for everyone. Let’s be honest about who this service is designed for and who should look elsewhere.
IU is perfect for:
Full-Time Day Traders: If you can watch the markets during the first hour and be present throughout the day, IU delivers maximum value. The real-time chat room becomes your trading terminal.
Active Swing Traders: Even if you’re not glued to the screen all day, the nightly watch lists and swing trading chat room provide actionable setups you can work around your schedule.
Serious Beginners With Capital and Time: If you have at least $25,000 in trading capital (more on this in the PDT section below), understand the trader mindset required, and can dedicate 6-8 hours daily to learning and trading, IU will accelerate your education dramatically.
Short Sellers: IU’s advanced strategies for shorting parabolic moves and gap-ups are some of the best in the industry. Tandem Trader is essentially a PhD in short-selling.
Traders Seeking Education Over Signals: If you want to learn to trade independently—not just copy someone else’s alerts—IU is built for you.
IU is NOT a good fit for:
Passive Investors or Buy-and-Hold Types: If you prefer long-term investing or swing trading positions over months, this platform will feel like overkill. You’d be better served by a service like Seeking Alpha or a good index fund strategy.
Traders With Small Accounts (Under $25,000): The Pattern Day Trader rule in the U.S. restricts margin accounts under $25K to only three day trades per five business days. While IU can still help you learn, you won’t be able to fully execute the rapid-fire, intraday strategies without hitting restrictions. More on the PDT rule below.
Part-Time Traders Who Can’t Watch the Open: If you work a 9-to-5 and can’t monitor the market during the critical first hour, you’ll miss most of the real-time chat value. You can still benefit from the recaps and courses, but you’re not getting the full experience.
People Looking for Get-Rich-Quick: If you expect to sign up, follow a few alerts, and start making bank immediately, prepare for disappointment. Trading is a skill that takes months—often years—to master. IU provides the tools and education, but you still have to do the work. Check out our article on avoiding beginner day trader mistakes if you’re just getting started.
The Honest Pros and Cons
Our team spent considerable time evaluating IU, and here’s the unvarnished truth.
What Our Team Loves About IU
Elite-Level Community and Talent: You’re not learning from one person. You’re getting exposure to multiple six-figure and seven-figure traders with different styles. The collective wisdom in the chat room is staggering.
Educational Focus Over Signals: IU doesn’t enable dependency. The entire philosophy is about teaching you to think, not just react. This builds real, transferable skills.
Comprehensive Tools Included: The fact that scanners, news alerts, and research tools are all built-in saves you $100-200/month compared to stitching together multiple subscriptions. The TrendSpider and Trade-Ideas platforms are powerful, but they’re pricey. IU bundles everything.
Time-Tested Strategies (17 Years): IU has been through the 2008 financial crisis, the 2020 COVID crash, the 2021 meme stock mania, and everything in between. The strategies work in different market conditions because they’ve been stress-tested.
No Flashy Marketing Gimmicks: There are no Lambos, no rented mansions, no fake profit screenshots. Nate and his team trade full-time and teach because they genuinely want to build a community of successful traders. The authenticity is refreshing.
Direct Moderator Access: Nate’s commitment to responding within eight hours is real. The moderators are accessible, patient, and genuinely helpful. You’re not lost in a faceless crowd.
Diverse Trading Styles: Whether you want to trade small-cap breakouts, short overextended runners, swing trade large-caps, or dabble in OTC—there’s someone in IU who specializes in it and can guide you.
The Limitations and Drawbacks
Steep Learning Curve for Beginners: The chat moves fast. The terminology is dense. New traders often feel overwhelmed in the first few weeks. If you’ve never placed a trade before, start with paper trading and the Textbook Trading course before diving into live chat.
High Price Point: There’s no sugarcoating it—$297/month or $1,897/year is a lot of money. For beginners who aren’t sure they’ll stick with trading, this can feel like a risky investment. The good news is the promotional pricing we secured brings the annual cost down to $1,697, but it’s still significant.
Fast-Paced Chat Can Be Overwhelming: The Momentum chat room during the first hour is a fire hose. If you’re not prepared, it’s easy to get lost, miss setups, or make impulsive trades trying to keep up. This is by design (focused, professional environment), but it’s not beginner-friendly without preparation.
Requires Significant Time Commitment: To get your money’s worth, you need to show up daily. Pre-market prep, live trading, post-market recaps, video lessons—it adds up. If you can only dedicate an hour a week, you’re better off with self-paced courses.
Pattern Day Trader Rule Implications ($25K Minimum): If you don’t have at least $25,000 in a margin account, you’re severely limited in how much you can day trade. This isn’t IU’s fault—it’s a regulatory requirement—but it’s a real barrier.
Not Beginner-Friendly Without Preparation: IU assumes you have some baseline knowledge. If you don’t know what a candlestick is, what VWAP means, or how to place a stop-loss, you’ll be drinking from a fire hose. Start with basic education (like our introduction to risk management) before jumping in.
Understanding the Pattern Day Trader (PDT) Rule
If you’re planning to day trade in the U.S., you need to understand the PDT rule. This is a FINRA regulation that applies to all brokers, and it affects how you use Investors Underground.
What Is the PDT Rule?
According to FINRA rules, a pattern day trader is anyone who executes four or more day trades within five business days, provided those day trades represent more than 6% of their total trading activity during that period.
A “day trade” is buying and selling (or selling short and buying to cover) the same security on the same day.
The $25,000 Minimum Requirement
Once you’re flagged as a pattern day trader, FINRA requires you to maintain at least $25,000 in equity in your margin account at all times. If your account falls below this threshold, you’re restricted from day trading until you restore the minimum balance.
This rule was implemented in 2001 after the dot-com crash to protect retail investors from the significant risks of frequent day trading.
How It Affects IU Members
Here’s the reality: Most of the strategies taught at Investors Underground—especially the intraday momentum setups—require you to make more than three trades per week. If you have less than $25,000, you’ll constantly be hitting the PDT limit and getting restricted.
You can still use IU to learn and paper trade, but executing the strategies with real money becomes impractical.
Workarounds (Sort Of)
Trade in a cash account: Cash accounts aren’t subject to PDT rules, but you have to wait for trades to settle (T+1), which limits your ability to actively day trade.
Trade futures or forex: These markets aren’t subject to PDT rules, though they come with their own risks and learning curves.
Open accounts at multiple brokers: Some traders split their capital across multiple brokers to get more day trades, though this is cumbersome.
Potential 2025/2026 Changes
Here’s some good news: In September 2025, FINRA’s Board of Governors approved a major overhaul of the PDT rule. Instead of the fixed $25,000 minimum, they’re proposing a risk-based intraday margin system that would allow traders with smaller accounts to day trade, as long as they maintain sufficient margin for their positions.
The proposal has been filed with the SEC and is expected to become effective in late 2025 or early 2026. If approved, this could open day trading to a much wider audience. However, as of October 2025, the current $25,000 rule is still in effect.
Bottom line: If you’re serious about day trading with IU, plan to have at least $25,000 in your account. If you don’t have it yet, focus on saving and paper trading until you do. Trying to day trade with a small account is an exercise in frustration.
Investors Underground vs. The Competition
How does IU stack up against other popular trading education platforms? Let’s break it down.
Investors Underground vs. Warrior Trading
Warrior Trading is another big name in day trading education, founded by Ross Cameron. Here’s how they compare:
| Feature | Investors Underground | Warrior Trading |
|---|---|---|
| Focus | Momentum trading, shorts, education-first | Breakout & momentum, mostly long-side |
| Pricing | $297/mo or $1,897/yr | $797+ for courses, plus monthly chat fees |
| Community Model | Team of elite traders | Single-guru model (Ross Cameron) |
| Chat Room Style | Multiple rooms, strict moderation | Single room, active community |
| Courses | Bundled or separate | Bundled packages only |
| Tools Included | Full scanner suite included | Limited, must subscribe separately |
Which is better? If you want to learn from multiple traders and get comprehensive tools included, IU has the edge. If you prefer Ross Cameron’s specific style and don’t mind paying extra for tools, Warrior Trading is solid. IU tends to be better for intermediate traders, while Warrior is slightly more beginner-friendly.
Investors Underground vs. Bear Bull Traders
Bear Bull Traders, founded by Andrew Aziz, focuses heavily on trading psychology and a supportive community.
| Feature | Investors Underground | Bear Bull Traders |
|---|---|---|
| Focus | Momentum trading, technical analysis | Psychology, risk management, technical |
| Pricing | $297/mo or $1,897/yr | $99-199/month |
| Community Vibe | Professional, fast-paced | Supportive, beginner-friendly |
| Education Depth | 1,000+ video lessons, 3 full courses | Structured courses, live sessions |
| Tools | Extensive proprietary scanners | Trade Ideas integration, basic tools |
Which is better? Bear Bull Traders is more affordable and beginner-friendly, with a strong emphasis on trading psychology. IU is more comprehensive in terms of tools and advanced education. If you’re brand new and want hand-holding, try BBT. If you’re ready for the deep end, IU is the move.
Investors Underground vs. Bullish Bears
Bullish Bears offers a broader range of education covering day trading, swing trading, options, and futures.
| Feature | Investors Underground | Bullish Bears |
|---|---|---|
| Focus | Primarily day trading stocks | Stocks, options, futures, swing trading |
| Pricing | $297/mo or $1,897/yr | Lower monthly fees, 7-day free trial |
| Community | Elite professional traders | Friendly, helpful community |
| Education Style | Deep-dive, professional | Comprehensive, multi-asset |
| Chat Rooms | Multiple specialized rooms | Discord-based, live streams |
Which is better? Bullish Bears is more accessible for beginners and those interested in multiple asset classes. IU is laser-focused on day trading stocks and is better for traders who want to master one thing deeply.
Which One Is Right for You?
Choose Investors Underground if: You’re serious about day trading stocks, have $25K+ capital, can dedicate daily time, and want to learn from elite traders in a professional environment.
Choose Warrior Trading if: You like Ross Cameron’s teaching style and want a single-guru model with clear instruction.
Choose Bear Bull Traders if: You’re a beginner focused on psychology and risk management, or you want a more affordable, supportive community.
Choose Bullish Bears if: You want to learn multiple trading styles (day trading, swing trading, options) or prefer a friendlier, less intense environment.
Success Rates: The Reality of Day Trading
Let’s have the uncomfortable conversation about success rates. The truth is, most day traders lose money. We’re not saying this to discourage you—we’re saying it because you need to know what you’re up against.
Industry Statistics
Academic research paints a sobering picture:
- Only 3-4% of day traders make enough to support themselves (data from proprietary trading firms)
- 10-15% can make some money, but not enough to justify the time investment
- 13% maintain consistent profitability over six months
- Only 1% succeed over five years
- 40% of day traders quit within one month
- Only 13% remain after three years
These aren’t our numbers—these are findings from comprehensive studies by Brad M. Barber and colleagues at UC Berkeley, analyzing millions of trades.
What Separates Winners from Losers?
The research is clear: mentorship, education, and discipline are the differentiating factors.
Traders who succeed typically have:
- Access to experienced mentors and structured education
- Sufficient capital ($25,000+)
- 6-8 hours daily dedicated to learning and trading
- A written trading plan and the discipline to follow it
- Proper risk management systems
- The ability to learn from losses without blowing up their account
Traders who fail typically:
- Jump in without education, expecting quick profits
- Lack sufficient capital and hit PDT restrictions
- Don’t follow a plan or keep a trading journal
- Let emotions (fear and greed) drive decisions
- Risk too much per trade (>2% of account)
- Give up too quickly when faced with losses
IU’s Own Statistics
Investors Underground reports that:
- 91% of traders improved their trading after joining
- 86% believe IU’s scans help them come to market prepared
These are self-reported member statistics from IU’s website, not third-party verified. Take them with a grain of salt, but they suggest that traders who actively engage with the platform see improvement in their skills.
Setting Realistic Expectations
Here’s what our team wants you to understand: Investors Underground provides world-class education, tools, and community. But it’s not magic. You still have to:
- Put in the time to learn
- Practice discipline with your risk management
- Build your pattern recognition over months
- Deal with losses and drawdowns without emotional spiraling
- Stay patient when the market doesn’t cooperate
If you’re willing to treat trading like a serious profession—showing up every day, studying, analyzing your mistakes, and constantly improving—IU gives you the best shot at success. But there are no guarantees.
If you’re looking for easy money, walk away now.
Our Final Verdict: Is Investors Underground Worth It?
After our deep dive, here’s the bottom line.
For full-time day traders and serious students of the market with adequate capital, Investors Underground is worth every penny.
The combination of elite-level chat rooms, comprehensive scanners, massive educational library, and access to multiple successful traders is unmatched. If you can dedicate the time and have the capital to execute, IU will accelerate your learning curve dramatically.
The $1,697 annual promotional price (or $1,997 with courses) is a bargain when you compare it to the cost of making even a few avoidable mistakes in the market. One bad trade from overtrading or FOMO could cost you $500-1,000. The education and community help you avoid these costly errors.
For beginners who are serious about learning but don’t have $25K+ in capital yet, consider waiting.
Use the time to save up capital, work through free resources, and build your first trading plan. When you have the required capital, jump into IU with both feet. The investment will make sense when you can actually execute.
For casual traders, part-time investors, or anyone looking for passive income, IU is overkill.
You’d be better served by long-term investing strategies or less intensive trading education platforms.
Best Package Recommendations
If you’re joining IU, here’s what we recommend:
For Beginners with Capital: Start with the Courses + Annual Subscription Bundle at $1,997. This gives you the foundational education (Textbook Trading), advanced real-time training (Tandem Trader), swing trading strategies, AND a full year of membership to practice what you’ve learned. It’s the most complete package.
For Intermediate Traders Who Know the Basics: Get the Annual Subscription at $1,697. You’ll have access to everything except the courses. If you already understand chart patterns and risk management, you can learn from the chat room and video library without the courses.
For Those Testing the Waters: Grab the Quarterly Subscription at $597. It’s the shortest commitment while still giving you enough time (3 months) to determine if the platform and community are a good fit.
How to Get Started
Ready to take the plunge? Here’s what to do:
- Start with the free content: IU offers free Sunday scans and educational videos on their YouTube channel. Watch a few to see if Nate’s teaching style resonates with you.
- Sign up through our affiliate link: Use our special promotional link to get the discounted pricing ($1,697 annual or $1,997 with courses instead of the higher standard rates).
- Watch the onboarding videos: IU has a structured onboarding process for new members. Don’t skip it. These videos explain how to use the chat, scanners, and platform.
- Start with the courses: If you purchased a bundle, watch Textbook Trading first. All the way through. Then paper trade while you watch Tandem Trader.
- Show up daily: Attend pre-market broadcasts, observe the chat during trading hours, and review trade recaps in the evening. Consistency is everything.
- Join the midweek study sessions: Ask questions. Get feedback. Build relationships with other members.
- Keep a journal: Document every trade, every lesson learned, every mistake made. This is how you improve. Check out our guide on using your trading journal for psychological insights.
- Be patient: Give yourself at least 3-6 months of consistent effort before judging results. Trading is a skill that takes time to develop.
Frequently Asked Questions
Is Investors Underground legit for day trading?
Quick Answer: Yes, Investors Underground is a legitimate and well-established day trading education platform.
Investors Underground has been operating since 2008, making it one of the longest-running trading communities online. The platform is founded by Nathan Michaud, a professional trader with over 22 years of experience who trades live with his own capital. IU is known for its educational approach, professional chat rooms, and comprehensive trading tools. The community includes many verified successful traders, and the platform has received positive reviews from independent sources like Top Trade Reviews and WallStreetZen.
Unlike many “get-rich-quick” trading services, IU focuses on education and teaching traders to become self-sufficient rather than dependent on signals. The transparency, longevity, and quality of education make it a legitimate choice for serious traders.
Key Takeaway: IU is legit, but legitimacy doesn’t guarantee your success—you still need to put in the work and have realistic expectations about the difficulty of day trading.
How much does Investors Underground cost in 2025?
Quick Answer: Investors Underground costs $1,697/year with our promotional pricing, or $297/month at standard rates.
Here’s the current pricing breakdown:
Standard Pricing (via IU website):
Monthly: $297/month
Quarterly: $697 ($232/month, 22% discount)
Annual: $1,897 ($158/month, 47% discount)
Promotional Pricing (via our affiliate link):
Quarterly: $597 (save $300)
Annual: $1,697 (save $1,867)
Courses + Annual: $1,997 (includes all three courses worth $3,491, save $4,061)
All plans include access to live chat rooms, proprietary scanners, daily watch lists, pre-market broadcasts, trade recaps, 1,000+ video lessons, and webinars. The promotional pricing offers significant savings—especially the bundled package with courses.
Key Takeaway: While not cheap, the annual plan works out to about $5 per trading day, which is reasonable if you’re serious about learning to trade and will actively use the platform.
Are Investors Underground’s day trading courses worth it?
Quick Answer: Yes, if you’re serious about day trading and will implement what you learn.
The three courses—Textbook Trading ($997 value), Tandem Trader ($1,497 value), and Swing Trading ($997 value)—provide over 26 hours of professional-grade education. Textbook Trading covers all the fundamentals and is frequently cited by successful traders as their breakthrough moment. Tandem Trader shows real trades with tick-by-tick commentary, which you can’t get from books or generic courses.
Many IU members report that the first hour of Tandem Trader alone paid for the entire course investment by helping them avoid costly mistakes or recognize a profitable setup they would have missed.
However, the courses are only worth it if you:
Have time to watch and implement the lessons
Plan to actively trade using the strategies
Have sufficient capital ($25K+) to execute without PDT restrictions
Are committed to the learning process
If you’re just buying courses to sit on a virtual shelf, save your money.
Key Takeaway: The courses accelerate learning dramatically, but only if you actually study them and practice the strategies—preferably with paper trading first.
Is Investors Underground good for beginners?
Quick Answer: It depends on your definition of “beginner.”
If you’re a complete beginner who’s never placed a trade, doesn’t understand basic concepts like candlesticks or stop-losses, and expects hand-holding, IU will feel overwhelming. The chat room is fast-paced and professional, and the moderators assume baseline knowledge.
However, if you’re a “serious beginner”—someone who:
Has studied basic technical analysis
Understands risk management fundamentals
Has practiced with paper trading
Has adequate capital ($25K+)
Can dedicate 6-8 hours daily to learning and trading
Is willing to feel uncomfortable while learning
…then IU is excellent for beginners. The Textbook Trading course is designed as an entry point, and the chat room becomes less intimidating once you understand the lingo.
Our recommendation: Spend 1-2 months learning the basics through free resources (including our beginner’s guides), paper trade for at least a month, then join IU when you’re ready to accelerate your education.
Key Takeaway: IU is great for motivated beginners who’ve done their homework, but not ideal for absolute beginners who need basic training wheels.
How does Investors Underground compare to Warrior Trading?
Quick Answer: Both are excellent, but IU offers more comprehensive tools and a team-based approach, while Warrior Trading follows a single-guru model.
Key Differences:
Community Model: IU has multiple elite traders with different styles. Warrior Trading centers around Ross Cameron’s specific approach.
Tools: IU includes full scanner suite and research tools in membership. Warrior Trading requires separate subscriptions for professional tools.
Pricing: IU is $297/month or $1,897/year. Warrior Trading course packages start at $797+ with additional monthly fees for chat access.
Focus: IU emphasizes both long and short setups with heavy short-selling education. Warrior Trading focuses primarily on long-side breakouts.
Chat Style: IU has strict, focused moderation. Warrior Trading is slightly more casual and beginner-friendly.
Which to choose? If you want to learn from multiple traders and value comprehensive tools, pick IU. If you specifically like Ross Cameron’s style and want ultra-clear instruction, go with Warrior Trading. IU tends to attract more intermediate traders; Warrior Trading is slightly more beginner-accessible.
Key Takeaway: You can’t go wrong with either, but IU’s team-based model and included tools give it an edge for serious, full-time traders.
Can I make money with Investors Underground?
Quick Answer: Possibly, but only if you put in significant work—IU provides education, not guaranteed profits.
Let’s be brutally honest: The majority of day traders lose money. Academic research shows only 3-4% make a sustainable living from day trading. Joining IU doesn’t magically put you in that 4%.
What IU provides:
World-class education and trading strategies
Tools to identify high-probability setups
A community of successful traders to learn from
Accountability and structure
What YOU must provide:
Adequate capital ($25K+ for U.S. margin accounts)
Time (6-8 hours daily minimum)
Discipline to follow your trading plan
Risk management and emotional control
Months of practice and pattern recognition
The ability to learn from losses
IU can dramatically accelerate your learning curve and help you avoid many expensive beginner mistakes. But it’s not a money-printing machine. Trading is a skill that takes time to develop, and there are no shortcuts.
Key Takeaway: IU gives you the best tools and education available, but your success depends on your effort, discipline, and ability to adapt—not just your membership.
What’s the difference between the Standard and Elite membership?
Quick Answer: There is no Standard/Elite split anymore—there’s just one membership tier that includes everything.
As of 2025, Investors Underground has simplified its membership structure. Previously, there was a “Standard” membership at $197/month and an “Elite” membership at $297/month, with Elite including access to the video lesson library and weekly trade recaps.
Now, all memberships include full access to:
All chat rooms (Momentum, Swing, OTC, Traders’ Lounge)
Complete scanner and tool suite
Daily watch lists and pre-market broadcasts
1,000+ video lesson library
Weekly trade recaps
Midweek study sessions
Monthly webinars
Direct moderator access
The only choice you make is duration: monthly ($297), quarterly ($697), or annual ($1,897). Or you can bundle with courses for additional savings.
Key Takeaway: There’s no feature-gated membership anymore—everyone gets full access to everything, which simplifies the decision.
Do I need $25,000 to day trade with Investors Underground?
Quick Answer: Technically no, but practically yes if you’re in the U.S. and want to actively day trade stocks.
Here’s the nuance:
You don’t need $25K to join IU or learn from the platform. You can sign up, watch the courses, observe the chat, study the trade recaps, and paper trade with any amount of capital.
But you DO need $25K if you want to actively day trade stocks in the U.S. This isn’t an IU requirement—it’s a FINRA regulation called the Pattern Day Trader (PDT) rule. If you make more than 3 day trades in 5 business days with a margin account under $25,000, you’ll be restricted.
Most IU strategies involve more than 3 trades per week, so without $25K, you’ll constantly hit regulatory limits and won’t be able to fully execute what you’re learning.
Alternatives if you have less than $25K:
Focus on learning through courses and paper trading until you save enough capital
Trade futures or forex (not subject to PDT rules, but different markets)
Use a cash account (limits speed, but no PDT restrictions)
Swing trade (holding positions overnight avoids PDT classification)
Key Takeaway: You can learn from IU with less than $25K, but to fully benefit from the active day trading strategies, you’ll want at least $25,000 in your account.
What makes Investors Underground different from other trading chat rooms?
Quick Answer: IU focuses on education and self-sufficiency rather than signal-following, and it’s run by a team of elite traders, not a single guru.
Here’s what sets IU apart:
1. Team-Based, Not Guru-Based: Most trading services revolve around one person. IU has multiple successful traders with different specialties, so you learn diverse strategies and approaches.
2. Education Over Signals: IU doesn’t blast “buy XYZ at $50.25” alerts. Moderators share their thought process and game plans, teaching you to think independently. This builds real skills instead of dependency.
3. Professional Environment: The strict chat moderation keeps the room focused. Off-topic chatter gets you muted. It’s not a social club—it’s a professional trading floor.
4. Comprehensive Tools Included: Most chat rooms charge separately for scanners and tools. IU includes a full scanner suite, AI news alerts, and research tools in your membership.
5. Longevity: 17 years in operation. IU has survived multiple market cycles, which means the strategies are time-tested, not flavor-of-the-month hype.
6. Transparency: Moderators trade live with their own money and share both wins and losses. There’s no fake profit screenshot nonsense.
7. Accessibility: Nate Michaud responds to private messages within 8 hours, 97% of the time. That level of founder involvement is rare.
Key Takeaway: IU is for traders who want to learn the craft deeply and become self-sufficient, not for people looking to copy alerts and hope for easy money.
How long does it take to become profitable with Investors Underground?
Quick Answer: Most traders need 6-12 months of consistent effort to see progress, and 1-2 years to achieve consistent profitability.
Let’s set realistic expectations based on data from proprietary trading firms:
First 3 Months: You’re drinking from a fire hose. You’re learning the language, observing patterns, making mistakes in paper trading or with small size, and starting to recognize setups. Most traders lose money or break even during this phase.
Months 3-6: Patterns start to click. You recognize setups faster, your risk management improves, and you might have a few profitable weeks. Consistency is still elusive. Many traders see glimpses of profitability but also experience frustrating losses.
Months 6-12: With daily practice and proper review, you start to develop consistency. Your win rate improves, your average loss decreases, and you have more winning months than losing months. You’re not making a living yet, but you can see the path.
1-2 Years: Traders who’ve put in consistent daily effort, maintained proper risk management, and continuously learned from mistakes reach consistent profitability. This is when trading becomes a viable career.
This timeline assumes:
You’re dedicating 6-8 hours daily to learning and trading
You have adequate capital and aren’t limited by PDT rules
You’re following a disciplined process and keeping a trading journal
You’re actively reviewing your trades and learning from mistakes
Trading is a skill like playing an instrument—it takes deliberate practice over time. There are no shortcuts.
Key Takeaway: Plan for at least 6-12 months of intensive learning before expecting consistent results, and be prepared for a 1-2 year journey to profitability.
Can I get a refund if Investors Underground isn’t for me?
Quick Answer: No, IU does not offer refunds due to instant access to educational materials.
Investors Underground’s official refund policy states that because you get instant access to the platform, tools, and educational library upon signup, they do not offer refunds on subscriptions.
However, you can cancel at any time, and you won’t be billed for future periods. You’ll retain access to your membership benefits until the end of your current subscription period.
Before you commit:
Watch IU’s free content on YouTube (Sunday scans, educational videos) to get a feel for Nate’s teaching style
Read multiple reviews (including this one) to understand what you’re getting
Ask yourself honestly if you can dedicate the time and capital required
Consider starting with the quarterly subscription ($597) instead of committing to a full year
If you’re unsure whether IU is right for you, the quarterly plan is the lowest-risk option. Three months gives you enough time to evaluate the platform thoroughly while limiting your financial commitment.
Key Takeaway: There are no refunds, so do your homework before signing up, and start with the quarterly plan if you’re uncertain about the commitment.
Article Sources
This Investors Underground review was compiled using the following authoritative sources:
- Investors Underground Official Website – https://www.investorsunderground.com/ (Current features, pricing, and platform information)
- FINRA – Day Trading Rules – https://www.finra.org/investors/investing/investment-products/stocks/day-trading (Pattern Day Trader regulations)
- SEC Investor.gov – Pattern Day Trader Definition – https://www.investor.gov/introduction-investing/investing-basics/glossary/pattern-day-trader (Official PDT requirements)
- Barber, B. M., Lee, Y. T., Liu, Y. J., & Odean, T. – “Do Day Traders Rationally Learn About Their Ability?” – UC Berkeley Research Paper (Academic research on day trader success rates and learning)
- Barber, B. M., Lee, Y. T., Liu, Y. J., & Odean, T. – “The Cross-Section of Speculator Skill: Evidence from Day Trading” – UC Berkeley Research Paper (Academic research on trader performance and skill variation)
- Mitchell, C., CMT – “The Day Trading Success Rate” – Trade That Swing (Proprietary trading firm success rate data showing 4% make a living)
- QuantifiedStrategies – “Day Trading Statistics 2025” – https://www.quantifiedstrategies.com/day-trading-statistics/ (Comprehensive statistical analysis of day trader performance)
- Steenbarger, B., Ph.D. – “Mentoring: The Key to Developing as a Trader” – TraderFeed Blog (Trading psychology and mentorship effectiveness research)
- NerdWallet – “The $25000 Day Trading Rule May Soon Go Away” – https://www.nerdwallet.com/article/investing/pattern-day-trading-rule-change (Current PDT rule and pending 2025/2026 changes)
- Traders Magazine – “FINRA Approves Overhaul of Pattern Day Trading Rules” – https://www.tradersmagazine.com/featured_articles/finra-approves-overhaul-of-pattern-day-trading-rules-opens-doors-for-smaller-investors/ (September 2025 FINRA Board approval of PDT changes)
