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ABOUT THE RIPOFF REPORT BELOW:
Ripoff Report would like to let readers know that Ripoff Report emailed this customer so the member business could make things right with them. When a business joins the Corporate Advocacy Program, Ripoff Report emails everyone from the past so the member business can make things right with them. Of course, everything within reason. In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses so we can insure that the member business did right by their customer. The author of the Ripoff Report below never responded to our offer to help them.
STATEMENT FROM ALGORITHMIC TRADING:
We do apologize that your experience was not positive. However, I would like to clarify a few things. The back-tested returns do show commission and slippage. They are not fake and can be verified independently on the trade station platform. All reviews are legitimate and are not paid for. They are from real customers. The algorithms do undergo changes as should be expected. Most recently, in our v2 release we added the iron condor, covered calls and morning gap algorithms.
NOW TO THE ORIGINAL REPORT THAT WAS FILED
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This is a rip off of epic proportions here a some reasons why its a rip off and in no particular order- 1- Website is incredibly deceptive, fake equity curve charts because thet do not include slippage and commision. Flashing rediculous monthly and annual returns which are non existent to anyone who actually purchased this product. It used to say 20%, then 10% now it said 8% . 2- Customer statements end in November 2014, all losses since have not been shown accurately, anyone with a 17k account barely has anything left to trade with at this point thus the reason no statements have been posted since Nov 2014. 3- Incredibly, outrageously overpriced. They want a fortune (15k +) based on use less backtests. Real life performance has been terrible! Nobody has made money with there current product! 4- Fake positive reviews from various online websites, negative reviews far out number positive reviews, there website of course only shows positive reviews thus creating a false impression to potential customers 5- There was one honest negative review on there Facebook page alongside the fake positive reviews. So what do they do about is? They took down the wholr review section on their Facebook page. They are constantly updating there website, even changed the website name, old site was mystocktradingbiz.com to create a new identity due to all the negative reviews Please do not get ripped off like I was!
2 Updates & Rebuttals
Chrisnewyork
Saint albans,New York,
USA
Update on how the software is working ?
#3General Comment
Thu, May 05, 2016
Hi I'm thinking of ordering the software from these people, I wanted to know how your investment is paying off? Please, any gains/losses you've experience will greatly help in my decision. Thank you
Stre
Far awayHigh risk investment
#3Consumer Comment
Thu, October 22, 2015
I am a customer who started in the end of may 2015. I don't live in America and therefore I had to jump through a lot of hoops in order to get account aproval. For a while I was getting ready to throw in the towel. Someone there had an insatiable appitite for documentation. I finally got approval, after having documented nearly my whole life history.
At that point I saw how Algorithmictrading.net hadn't registered a winning month in the previous quarter, but still I invested $26,000 (after having paid the $15,000 fee). Within a month the value of my investment had decreased to $19,000 and I wondered what I had gotten myself into! Still, I thought to myself, this is a high risk investment, and that means that it may be a bumpy road. I decided to stick it out a while longer and held my brfeath in anticipation.
Now, at the end of october 2015, the net value of my investment has gone up to over $38,000, and that's after accounting for an accumulated slippage and commission of about $1200. That's not to say there won't be more bumps on the road, but I'm satisfied with the result so far. I'm on track toward a return on my investment that exceeds 100%, which means I'll make a decent profit on my first year ($26,000 return minus $15000 in fees = $9000 profit). Next year the fees will only be $2000 so if this bumpy road keeps climbing I should end up quite happy.
I don't know why they changed their website from MyStockTradingBiz.com to AlgorithmicTrading.net, and I will agree with the writer of this report that they don't show any negative account statements, but what company would want to do that. Perhaps now that their result has taken a turn for the better, they will dare to do just that.
I can definitely understand why someone who started out investing at the end of 2014 or the beginning of 2015 would be very dissapointed with their results for the first half year. If they've stuck it out (many probably haven't), they're probably over the break-even point by now, but 2015 has been a real rollercoaster ride for them.
The results I've gotten are pretty much in line with the results Algorithmictrading.net have shown, so I don't agree with the review writer about them falsifying results. They even have a live feed showing all their trades as they occur, both the winning ones and the losing ones. They're spot on there. No falsification that I can see.
If you're going to invest in a high risk venture like this, you have to be prepared for setbacks. Even the safest investments can give you a negative result, so with one like this, you've got to count on the negative results being compounded when they come. That doesn't mean the company is lying or doesn't deliver what they promise. After all, they even say you shouldn't invest money that you can't afford to lose.
I expect there will be more bumps along the road, but at this point, I'm willing to stick it out. The potential reward you can get is always related to the real risk you take.