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LTG Trading Gary Fullet Below the account he was managing for me. orland park Illinois
I signed up for a mentorship with this guy and company. He also offered to manage funds for me so we could learn and trade together. Fast forward less than 2 months later and he blew my account up. Now, in this business there will be trades that won't work out.
But the thing is I didn't lose my equity to trades, instead it was becasue he overlevarged the account so he could collect $50 in commissions on each trade. He would only tell me AFTER he added trades to my account the frees were already subtracted. He says he has years of exereicne in this field but even as his agressive trading kept adding postions,
I was $1000's in margin call. I kept telling him I was worried we add too many positinos on. He kept assuring me we were still on track to make the 10K account goal be year end. He took an extra fee every day he left me in margin call. The FCM finally had enough and we had to unwind. That is when it hit me that he added all those postions to collect commsions.
If he was really doing good, and we are in the biggest bull market of history why would someone take such risk? He either doesn't know what he is doing and know what money management is or he was just greedy and coudln't help himself to my money. After all this he blamed me since I aggreed to the trades. Thing is I told him when we started I didn't know about options.
I had a 6K account and he sold and had open over 40 cotnracts and just kept adding. He kept making excuses it would work out. The mentorship time we had together was terrbile. It was totally different than his prensetations.
I honestly think he was under the influence. He might have been good at one time but I think he's going through some marjor issues. Also, sends you $1000's of dollars of stuff that is not even his wn work and brags how he "gives" you so much. It's all just talk. Please message me if you want more details.
1 Updates & Rebuttals
Lars
NetherlandsMoney Lost
#2Consumer Comment
Mon, May 20, 2019
Hi, this story sounds exactly like mine, a financial nightmare. LTG-Trading and Gary Fullett lost my money under management, not one third, not one half, but all of it.
Of course commissions and margin calls fees benefited broker and money manager. Over exposition with options positions were taken (myself not knowing options trading) with too much risk showed an incompetent behaviour an clearly a big ripoff.
G. Fullett is said to have 37 years experience trading commodities, and taking so much risk with an account can not be called otherwise than a massive ripoff in this situation. Inexistent risk management is total negligence and signing a risk disclosure does not give any excuse as taking so much risk with an account is clearly intended to inflate commissions income to the broker, to the detriment of the account owner.
Contact me at lars.watson.64@gmail.com to discuss further.