Stock Market Lab Review – Umar Ashraf Scam?

Dylan Rieger // Day Trading, Stocks


January 19  

The Stock Market Lab is a pricey trading community run by Umar Ashraf.

Before spending $2,000+ I'm sure you want to know if it's a scam or not.

Well you're in luck..

I went through every aspect of this company to determine if it's worth it.

You'll find everything you need to know about Stock Market Lab in the review below.

You'll know if it's worth your money by the time you're done reading.

Let's get started!

Stock Market Lab Summary

Owner: Umar Ashraf

Price: $2,497

Rating: 2/5

Do I Recommend? No.

Summary: I don't think you should buy Stock Market Lab.

I have serious questions about how good of a trader Umar is and I think it's way overpriced.

Additionally, there's no refunds.. pretty weird for a guy claiming to make millions a year trading.

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4 Things To Know About Umar Ashraf

Before we get into Stock Market Lab let's take a look at the creator, Umar Ashraf.

Here's what I think is most important:

1) Started Businesses AT 18?

Umar is a Pakistan immigrant and moved to New York with his family when he was younger.

One thing that jumped out at me is Umar claims to have created Ashraf Holdings Group when he was 18.

At this same time, he claims to have started several other businesses including a property solutions company, a domain selling company and brand logo creation business:

It doesn't really seem possible for a 18 year old to launch all of these businesses.

If you look up the incorporation date of Ashraf Holdings Group it's 2016.. well after Umar said:

On Umar's Linkedin he claims he was a stock trader for this company in 2013:

Lying about this is a red flag.

2) Involved In An Investment Firm That Didn't Pay Taxes?

So we established Ashraf Holdings Group didn't get started in 2013 like Umar claims.

I did find something interesting, though.

Apparently Umar was involved in an investment company in 2012/2013, though, when he was 18.

The name of the business was called Miraj Business Investments.

He was a director for this company.

However, this company apparently didn't pay it's taxes and was closed due to a tax forfeiture.

I'm not 100% sure this is the same Umar but it would make sense. If Umar truly got involved with trading at 18 this would line up.

He does claim at the age of 23 and 24 he was "going through some personal struggles." Maybe it had to do with this shady business.

If so, he probably doesn't want people knowing he was involved with this company and instead just wants people to believe Ashraf Holding Group is where he started.

3) Umar Makes Millions From Stock Market Lab

Umar claims that he started Stock Market Lab at 22, in 2017.

The problem is if you look at some articles out there about him, you'll see he wasn't a competent trader until 2020.

In the time Stock Market Lab launched he claims to have over 2,000 members.

So if he got 2,000 members at $2,497 each that means he's made nearly $5,000,000 from this business!

It's probably higher because there's yearly subscription fees to be in the chat room.

Now let me ask you a serious question:

If you could make millions a year selling a membership for a trading community would you ever trade?

I wouldn't.

Especially day trading that's ultra risky and involves sitting in front a computer all day.

The truth is day trading has blow up in the last couple years due to covid lockdowns and stimulus checks.

Look at the the graph below from Google Trends that shows when people started searching day trading:

People were looking for day trading training and day trading chat rooms a lot during this time.

What an amazing coincidence that's when Umar started making millions and buying lambos!

Umar really reminds me of Alex Temiz (another guy making millions from selling day trading courses and chat room access).

The truth is Umar probably doesn't make anything significant from trading and most likely built his wealth through Stock Market Lab. 

This is why he doesn't show a history of his trades.

Instead he puts out videos like the one below:

$5.5 million profit may seem really impressive.

However, if he put $4,000,000 from his sales from Stock Market Lab into a trading account then it's 25% returns at $5.5 million.

There's a simple way to test this..

If Umar is really getting 2000% returns a year like he claims (lol) he would have around $100 million in his trading account at the end of 2022.

But he won't have that because he's getting nowhere near 2000% returns. Most of his money comes from Stock Market Lab!

4) There's A Lot Of Puff Pieces About Him

One last thing on Umar before moving on.

If you type his name into Google you get a lot of different puff pieces.

Some come from well known outlets like The Guardian (Nigerian version), Bezinga, The Jerusalem Post and LA Weekly

These aren't real investigatory pieces, though, and Umar most likely paid to be featured.. it's all essentially PR. 

For example, look at the article from LA Weekly:

At the bottom you see the term "brand partner content."

I've actually done brand partner content with LA Weekly before. You basically pay them $500 to post your PR piece on their website.

You do that so when someone types something into Google the LA Weekly piece shows up.

This gives Umar legitimacy because people trust these brands and aren't aware it's just PR. 

As far as I can tell I'm the only one to look at Umar critically. 

Recommended: The Best Place To Get High Return Stock Ideas

What Is Stock Market Lab?

Stock Market Lab is the stock, optionsm day trading and swing trading community created by Ashraf.

Here's what you need to know about it:

Day Trading Is Hard To Succeed With

One of the aspects of this community is day trading.

Like I mentioned before the stimulus checks and lockdowns made day trading popular.

People were stuck at home and had $1200 to blow.

And blow they did.

However, what you'll never hear from people like Umar and other trading gurus is day trading is almost impossible to succeed with.

In fact, less than 5% make money doing it.

Day trading requires incredible discipline and hours of time every day.

People are attracted to it because it promises fast riches and people like Umar show off their lambo's, pretending they obtained it through trading.

Investing long term is always the better option.

Stock Market Lab Socials

Stock Market Lab gets a lot of its customers from social media so it's important to look at those channels.

There's a few different platforms Umar uses to promote Stock Market Lab and the main ones are Youtube, Twitter and Instagram.

His Youtube channel is 3 years old and he posts to it a few times a week:

Here he details some of the trades he makes but doesn't go into all of them. I'm sure he leaves out a lot of the losers.

His Instagram is where he likes to show off his Wealth and his big trades.

If you want to see his selfies, pictures of his cars and expensive dinners this is where you'll find them.

Lastly, he has his Twitter account that's typical of trading gurus.

You'll find some insights into his trades and the market there.

Recommended: The Best Place To Get High Return Stock Ideas

Stock Market Lab Overview

Stock Market Lab is Umar's flagship product and comes with a few different aspects. 

Here's a breakdown of exactly what you get:


The training is spread out over 10 weeks and covers various aspects of trading.

You'll get education on the following topics:

  • Stocks
  • Options
  • Price action
  • Charts
  • Technical indicators
  • Risk management
  • Day trading setups
  • Swing trading setups
  • Mindset training

You also get physical training delivered to you through the mail.

Additionally, you only get access to the online training for 6 months.


Next up you get access to the chatroom.

Here you can interact with other members and get answers to any questions that you have.

However, you only get access for a year.

After a year you'll have to pay more to stay in the chat. 

Traders Forum And Support

This is another way for you to ask questions and get answers.

You can submit any issues you have to the forum and get help.

Additionally, you get 24/7 support.

Weekly Webinars

You'll get webinars with Stock Market Lab as well.

This is another opportunity for you to learn more about trading and get questions answered.

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My Thoughts On Stock Market Lab

There's a lot to unpack with Stock Market Lab.

Here's my main takeaways:

Too Much Is Covered

One thing that jumps out at me is there's a lot of different trading strategies covered here.

Usually a trading course will just focus on one aspect of trading.. like day trading or options or long term investments or something like that.

But that's not the case here.

Instead you learn about stocks, options, technical analysis, swing trading and day trading.

This isn't a good thing.

Remember Umar is just 27.. do you really think he mastered all of these trading methods? Of course not.

You're only getting mediocre training at best.

It Costs Way Too Much

Basically you're paying for the training and one year access in the chat room.

After a year you need to pay to stay in the chat room.

This is way too much.

You can buy similar education for programs for way less.

Go on to Amazon and just buy a book for stocks, options and day trading.

It won't cost more than $100.

There's plenty of chat rooms and Discords you can join as well.

Some are free and others cost a couple hundred for the year.

I Don't Think Customer Reviews Are Genuine 

There's a fair amount of "customer reviews" online about Stock Market Lab.

One thing pops out at me..

They're WAY too positive.

For example, if you head over to Trust Pilot you'll see review after review after review that are ultra positive. 

However, there's one thing you don't see in any of these user reviews.. you never see people talk about results.

Instead it's all just generic stuff about how great the training is and how great Umar is.

I come from an internet marketing background and know with 100% certainty you can plant fake user reviews around the web,

You can also incentivize customers to write positive reviews.

Here's proof of this happening.

When you go to the checkout page of Stock Market Lab you'll see this:

However, if you go to Facebook you can see the reviews this is mentioning have absolutely nothing to do with Stock Market Lab:

Facebook comes up with a rating by how many people recommend a product:

So Stock Market Lab is getting a bunch of fake reviews on Facebook and Umar is using the fake rating as proof people love his program!

There's No Refunds (Red Flag)

Let me get something clear..

Umar is supposedly making millions trading every year and yet can't give someone their $2,497 back if they're not happy with the training?

Even if you forget to cancel the automatic renewal you still don't get a refund!

Imagine having this kind of a refund policy while pretending to make $7 million a year trading.

I know filling up a lambo is expensive but damn Umar.. don't you think you're being a little greedy?

Recommended: The Best Place To Get High Return Stock Ideas

Stock Market Pros And Cons

  • Umar is verified on Twitter: I couldn't really think of anything positive. I guess this is cool for Umar. 
  • Doesn't track trades: Umar could easily track his trades and put them online but he doesn't. Instead he posts videos of his trading account that is only so large from his course sales. 
  • Too expensive: You don't need to spend thousands on trading education. You can find books from experts for less than $100. 
  • Not focused enough: The training covers multiple trading strategies. It would be better if it focused on one.
  • No refunds: Why would someone who "makes" millions trading not give refunds? 

Stock Market Lab Conclusion

I can understand why someone would want to buy Stock Market Lab.

Umar does a good job marketing and he's pretty convincing.

However, I've been reviewing online scams for a long time and know all of the main tricks. 

There's just a few questions you need to ask yourself and you begin to see through Umar's game.

Some of these questions are:

  • Why would Umar trade if he makes millions selling Stock Market Lab?
  • Why doesn't Umar show all of his trades for transparency?
  • Why does Umar reference Facebook ratings that are clearly fake?
  • Why do no customer reviews mention results?
  • Why does Umar lie about things in his past like when he founded Ashraf Holdings Group?
  • Why doesn't Umar give refunds?
  • Can a young 20 year old really make millions trading?

I pretty much answered all of these questions in the review.

At the end of the day I believe Umar makes most of his money from Stock Market Lab and not trading.

Anything he makes trading is marginal compared to the sales of Stock Market Lab.

That's how he affords the nice cars and gets to flex on Twitter like he's a trading savant.

My advice is not to pay for Umar's car payments and invest your money elsewhere. 

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I'd pass on Stock Market Lab.

The good news is there's plenty of places to get good stock ideas and to learn how to make money with stocks.

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About the Author

Dylan is an investing and passive income watch dog. He created Level Up Your Wealth to prevent people from wasting money on scam programs and to recommend high quality offers.

Dylan Rieger

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