Complaint Review: Market Traders Institute

First of all, obviously the second post by "Here to Help" was written by a different person who still remains unindentified. Secondly, this 5 year old complaint still goes on unresolved. Why??

Next, as I stated before, I do not work for a competitor and was not aware that there are other companies who apparently mislead people as your company does. Wild claims of profits on "pivot point predictions" Using George Soros $1 billion trade etc. makes all of us wonder.

I really don't want to play ping pong either. Just looking for some answers which neither you or the first person want to address, rebutt or clarify other than say that they are somehow misrepresentations. Please explain. All of us want to know.

How do I know so much about you? Much is on the internet. Even with the internet, traders who actually trade network with other traders and your company is very well know and spoken of. I wish I could say the comments were positive or complimentary, but they are not. What I have posted so far is just the tip of the iceberg. There is much more.

Before you post information about George Soros you may want to check to see where he is investing. Hint, it is not forex, it is stocks. Check it out. Forex is a asset class to profit from for sure if you have experience and are on the right side of the trade.

And if you check the votes on this thread, the majority of people are pretty much saying that you are full of crap, you do realize that don't you?

The great merchant John Wannmaker once said that there are two ways a client will talk about you 1) Is if they have recieved more than they wanted in which case they will tell 1 or two of their friends or associates. 2) If they feel they have been cheated in which case they will tell 10-15 of their friends or associates. I may be one of the few who is going public, trust me there are many more who are unhappy with your company, many clients, many who have attended your "webinars" (glorified sales pitches) and many who are sick and tired of getting inundated with emails, spam, phone calls and junk about your products.

"Success at the service of others not at the expence of others."

"Angry Consumer_10"

As a business practice we don't engage in this kind of back and forth with competitors. These forums are meant for people who actually have a problem that can be solved. Most of the claims you are making are skewed versions of the truth or outright lies. You seem to make a lot of claims relating to how our education works, how our customer service is, what our response times are, what happens when you call our phone number etc. even though you said you have never purchased anything from us. Its unclear how you would have this information to give these reviews, why you are calling us, or even what your issue is. How do you know how much anyone on our staff gets paid? How would you know when our analysts are available? How would you know how much education anyone who works here has? 

We are not going to go point by point through everything, it seems you are just looking for something to do. If you have a genuine issue or claim that you would like us to resolve, please identify yourself and we can work through it together. If you would rather not identify yourself here in public, please contact our customer service manager and he will help you out or escalate your problem until it gets resolved. I fear however, you aren't going to identify yourself, you don't have an issue you need help with, and you will just continue to try and confuse people in an effort to bolster the sales of your own product. Good luck to you and your company, we won't be responding further.

I appreciate your response Mr, Miss, Mrs or whomever. Since you didn't sign it, I have no idea who you are.

However, after carefully reading and rereading your response, I am confused. You said you were offering help. Funny thing, I couldn't fing any help.

You also stated that I made many incorrect statements yet you failed to address even one. So is it safe to assume that everything I said is absolutely true? It would appear so.

You also state that I am addressing an issue that is over 5 years old. If that is the case, how come it has not been resolved yet? I mean five years and still no resolution? C'mon. What kind of service is that?

You also suggest that I work for one of your competitors. I didn't realize you had any competitors. You mean that there are other people also misrepresenting the Forex, mistating the potential of George Soros's return and making it sound that anyone can duplicate it, hyping pivot point predictions and have analysts that do not trade, make average wages and have a very basic knowledge of the markets? Trust me. I am not associated with any of those companies and did not even know they existed.

Isn't it true that your Analysts On Demand are frequently not available during the 19 hours a day that they are supposed to be available online? What's up with that? And isn't it also true that these AODs use fake names not their own? What is the deal with that?

Are you going to deny that your top presenter was in fact working for the  Martinez family previously in a company called ITradeFX which was shut down for non compliance issues with the NFA?? And isn't that the reason he never mentions the name when he claims he was a VP for one of the largest Forex companies in America? By the way, how many employees did that company really have and were they really "one of the largest Forex companies in America?"

I am on your mailing list which is how I got that George Soros email. And I have recieved calls from your people which is why I knew about Josh Martinez's supposed big trades.

By the way, savvy investors look at 5 year rates of return, not short term returns. Also the big question I asked last time which was never answered is, "Even if Josh Martinez did indeed make this trade, WHO else has done it?" Lot's of people play basketball but there is only one Michael Jordan.

And why is that whenever we call the phone number listed we get a voice mail and our messages are never returned?? Just asking.

Getting back to Susan's complaint, your company does run so called webinars 2-3 times per day. I know because I get emails for everyone of them. The software is expensive and available elsewhere for about $50. Your salespeople are like Monty Hall of the old "Let's Make A Deal" TV show. Many people can buy the same product at a price that can vary by as much as $2,000. 

Last November I recieved a series of emails and phone calls regarding a once per year 40% Black Friday special. Hmmm. Nice deal I thought but I passed. One month later I was called about another 40% Black Friday special. WOW! Did a year pass that fast? I passed againl. Then in January I recieved another 40% discount offer. Three times in three months for a once a year special? Then I was told the price was going up by $1,000. Better hurry and buy. Then after that your company started offering a $2,000 schlorship. Then there was a $250 ten day deal never offered before.

It seems the deals (and the hype) never stop. Needless to say I decided to move on. Why do I post? Hopefully I can save at least  one poor innocent soul the frustration of what has happened to so many others.

"Angry Consumer 10"
Sorry to hear that you are having a difficult time. Have you purchased something from us before? I see you have posted conflicting information on several posts that are over 5 years old. It seems your main complaints are with the sales process or marketing, not with the quality of our education or with a sale. There are numerous false claims and inaccurate statements in your post, and rather than try to hash out each one of them line by line, we would like to work with you to try and make sure you are a satisfied client. There are several indicators though that make it seem like you are a competitor speculating about our internal processes, trying to cast doubt on our organization to put yours in a better light. We don't cold call anyone, everyone whom we contact has requested information from us or registered for a webinar, so if your issues revolve around our marketing, you can simply opt out at the bottom of any e-mail.

None of the claims you have made seem to be about any kind of transaction with our company.  If you have in fact purchased something from us and have a legitimate complaint about that transaction, we would like to do everything in our power to make things right with you. Please either list your name and we can look you up, or contact us directly and ask to speak with our Customer Service manager Matt Johnston. 407-740-0900

There is no doubt that MTI dba Next Step Financial Holdings has made outlandlish and wild claims in the past. And it appears as though the hype is continuing. Today I found this in my email box:

You've heard of George Soros, right? He's that guy they say invested in the Forex market and managed to profit nearly $1 billion within 24 hours back in 2002. Not too shabby, huh? Do you want to know why Soros profited in that way? He knew where the money was. This billionaire chooses to trade currencies because he knows that money can be made in the Forex.It is time for you to learn why billionaires like Soros are Forex traders. In MTI's Ultimate Traders Package on Demand, you'll get a step-by-step education that will show you how you too could learn how to get involved in this money-making market and possibly even place trades that could go down in history. Click here to learn more in an upcoming webinar >>Taking the first step toward a brighter financial future through Forex trading begins with a small step. You need to learn about the tools available to you as a Forex trader. You need to find an educated mentor ready to show you the ropes and to honestly teach you (without hype and untested knowledge) what you could do as a Forex trader. Soros chose to  enter the Forex market and place that trade and changed everything... Your time to change everything is now. Click here to attend the webinar that could show you how >>To Your Trading Success, Josh Martinez

LOL! It is true that George Soros made $1 BILLION $$$ trading the Forex back in 2002, but doesn't the above email from apaprently Josh Martinez, son of Jared Martinez sound like hype and a get rich scheme? I wonder if these people have checked on what investments George Soros is in right now. Here is a clue. It is not Forex. It is stocks. Just google George Soros recent investments. 

MTI and Next Step Financial Holdings should realize that they are NOT George Soros.  Not to mention that that trade by Soros was a one in a billion bet. It is not likely to be duplicated ever again.

There is a reason why Forex was initially only offered to the mega rich. Those who had amassed a huge 7 figure net worth and were successful traders already. And there is a reason why most other schools and training companies offer Forex training as an adjunct to other asset classes like stocks, mutual funds, bonds, real estate, futures and options. Forex is high risk. And not for the faint of heart. Beginning traders and investors have no business trading Forex unill and unless they have amassed a reasonable net worth and much experience.

MTI also brags calling themselves the "oldest and most respected forex school in the world" Oh yeah? Says who? Only MTI and Next Step Financial Holdings employees and owners.  And how can they call themselves an institute? Is there an accreditation required? Or can they just call themselves that? What are their qualifications? Same with their so called analysts. Are they certified and licensed? Doesn't appear to be. In fact, based n what I have heard, all these analysts do is  get some basic FX training for a few weeks and if they can talk, they are analysts. They are not even real traders. And make less than an average salary.  I have been associated with other trading schools where the analysts and trainers have spent decades on Wll Street and the CME and are real traders who make 6-7 figure incomes. Those are the people I want to talk to and be advised by.

Oh by the way, one of their top presenters brags about being the VP of a major Forex company, in fact one fo the largest forex companies in the USA. However, he never mentions the name of that company. Want to know why? Because said company was owned by the Martinez family and was shut down after numerous complaints and for con compliancy. No wonder he never mentions their name!

There is also a lot of talk about big trades made by Josh Martinez touting incredible returns.  I asked for confirmation slips, there wouldn't or couldn't provide that. But I also  have another question; how else is doing this good? If in fact it is true. All I got was silence.

And as for the lifetime gurantee MTI offers, what is lifetime is the company gets shut down like other companies run by the Martinez family? Lifetime is as long as the company stays open. Which doesn't mean forever.

When it comes to MTI and NEXT STEP FINANCIAL HOLDINGS, CAVEAT EMPTOR

BUYER BEWARE!

I agree 100% with Susan and as for comments from the rubuttal preceding mine, nothing could be   further from the truth.

1) MTI conducts "webinars" 2-3 times per day, sometimes more.  The skit goes something k**e this:

    MTI will buy your name from Trader Planet or some other source and you will get a call from an

    inexperienced telemarketer who will say something like like:

    Mr/Mrs. ?? My nae is _ calling from MTI (or NEXT STEP FINANCIAL HOLDINGS-same company basically)

    and I am calling you back because you requested information from our website. Do you recall doing

    that?


Caught off guard, you will say, (Uh yeah, maybe)

Then they will nail you with a canned sales pitch that sounds like it is right out of a tin can and basically convince you to attend a "FREE" webinar. Then they will give you a choice of times, morning, afternoon or evening.

If you resist and have something planned then they will hit you with more bull.

"This is the last webinar for this week or today and we are almost full (baloney-the webinars never attratc more than 100-200 max with a capacity of over 1,000) you better catch this one or I don't know when we can get you in again.

First, let's put to rest the FREE webinar. Nobody gives  you anything for free. The purpose is to get you to a webinar just like Time Share people get you to a FREE presention and offer you gifts.  Nothing is free. Once you get to the webinar, they will try to seduce you with a fast talking sales pitchman who will cover general basics about the Forex  but really push you to buy Market Traders Forex course

2) You will be told that the presenter will be doing trades while the market is open and these are live trades. Not really. What the presenter does is demonstrate some techniques, there are no real trades  being shown. This is just a comon to get people to attend. See the master Forex trader performs trades right before your very eyes! Sounds like something you would hear at a carnival or a circus.

3) Getting refund is difficult if not near impossible. Once MTI gets your money, they don't want you to get it back. Sure, when one of their sales people calls you they will tell you to try it for 60 days and if you don't like it, you get your money back, no questions asked. Yeah right! They are going to ask you a lot of questions that you have to prove to MTI's satisfaction and God forbid if you are late on even one payment, then the so called guarantee becomes null and void and you get nothing back.

Finally, MTI has been around supposedly since 1994 and claim to be Forex Leaders, "The first and oldest Forex educator in the world." But ask them to prove that. Another thing, Trader Planet, FXCM and other companies award the best Forex training out there but MTI never wins. Not even 2nd. They end up as finalists only. If they were so great, why didn' they win?

My advice is to stay away from these guys. Search other options and when you get a call for a FREE webinar, if you have nothing better to do and can waste 90 minutes on pure entertainment, go ahead and watch it. But beware of the incessant phone calls that will follow from MTI pitchmen who will try to "CLOSE" you on the phone and tell you what a wonderful progam this is.

Oh by the way, sometimes they call saying they are from Next Step Financial holdings. For all we know it is the same company owned by the Martinez family operating in the same building. Also be aware that they use locall access when call you. That means that even though they are calling from Florida, it will show up on your caller ID as a local number with a local area code and prefix. They figure you are more likely to answer the phone and when you do they will dazzle you with their sales skills. As mentioned before, what they will really do is bore you to death with their canned sales presentations that sound like it came straight out of a tin can.

First read the Wikipedia entry on "Brownian Motion." Now that you understand what a stream of random numbers is (That's what market fluctuations are.) you can understand why no one came make the kinds of claims this company makes. They may as well be selling software that hazards a lottery guess. I have a simple thought experiment for you to consider: what would be the effect on the market if everyone was employing the system in question? Would all investors break even? But no qualification was made by the company regarding the behavior of all the other traders. Markets don't produce anything. Someone's gain is another's loss. What is needed is a return to the days of truth in advertising laws with criminal penalties. I would think that anyone who ever wrote a check to this company would have a cause of action based on their fraudulent claims.

It is quite peculiar all of the complaints are from individuals who have not purchased the education but simply attended a FREE live trade demonstration.

I've been through the education so I'm familiar with Market Traders.
First they only conduct live trade demonstrations twice a week not throughout the day.

Second, the trades are conducted in the live market for anyone to track via platforms from various unrelated brokers. It would be suicide to misrepresent a trade in the live market which would be easy enough for anyone to discredit.

I applaud these educators for having the confidence in their education to stick their necks out, and open themselves up to the general public by calling live trades. Most educators tout their "methodologies" but when asked for an entry or exit point they shy away.

I for one don't want Market Traders to stop doing what they are doing because a few disgruntled rookies happened to sit in on a trade that went against them. I'd feel differently if the complaint came from someone who actually purchased the education, utilized every tool and system available, yet still lost their money.

These guys are the real deal, they aren't afraid to call a trade, and furthermore they offer a money back guarantee on their material if a client isn't satisfied.

For anyone wanting serious education on learning how to successfully trade the Forex market (who is not looking for a brainless RED LIGHT GREEN LIGHT system), but is willing to put in the time and effort required, give these guys a call.

Wilson ****
Florida

To everyone interested in the Forex Market,

I have been a very happy client of this company now for over two years. Unlike Susan I purchased the education for the full price of $6,000. After reading her report i was very disgusted by her false comments. The purchase includes a lot more than just software. With the purchase I was given 12 months of charting that are absolutely neccessary to place proper trades. The charting that MTI offers is the most advanced charting i've ever used. It comes with 185 indicators that also allow you to create your own trading system. The charting also comes with 7 trading systems that market traders developed and were backtested before being released. You can back test them yourself as well.
The education starts off with 16 lessons that are accompanied with a work book to help you completely understand how to read charts and help you figure out good entry and exit strategies to maximize profit in the Forex and minimize the risk.

The second portion of the education starts with on-line classes that are interactive and archived. Once you purchase the education you are able to attend this class as many times as you would like for the rest of your life. During the class the professional traders make sure that you completely understand all the material and help you apply it to a demo account to make sure that you are successful before letting you risk any real money. You can also schedule a 1 on 1 tutoring session with a professional if you need additional help at no cost(great support).

The third portion of the education is now when you start going to advanced mentorship classes(on-line as well) that are given by the founder of the company twice a week and are very helpful as well. At this point in your education you are encouraged to start trading with real money but you are recommended to only do mini trades to make sure that you are risking less money being that you are still semi-unexperienced. The reason it is good to trade with a mini account:
~You will trade less
~you will be more selective with the trades you take
~The habits you develope at this point by trading real money will be stronger

During the last portion of your education you get the opportunity to attend a live two day on-site class that is offered a few times a year in Florida and they also travel to a different state every month to try and get closer to other clients that don't live by the company headquarters in Lake Mary Florida. The best part of the two day class is that they teach very advanced techniques and it's the perfect opportunity to network with other clients to find new bussiness opportunities.

The trades that Susan spoke of twice a week is part of a program that is offered to clients called "The Earn While You Learn Program". During this web presentation the director of education places a live trade call that allows us clients to copy on their own account and helps us make money by piggy backing on his trade. Last month I made $3,770 just by following these live trades. She was right by saying that these trades happens 8 times a month and honestly it's a gift from the company. It saves me some time from having to analize the market myself and all I do is copy his trade and 9 times out of ten we make money.

This education is not for someone who is not really interested in making money. It is very detailed and you are honestly offered more support than is needed. I have been nothing but successful and love the fact that I have been able to quit my job and now work from home. I have brought many refferals to the company and have nothing but happy friends and family members making money. I recommend the education to anyone who is seriously looking to be their own boss and doesn't mind sacrificing a couple of hours a day to studying. Copletely worth it and I plan on being a client for years to come.

Thank you Market Traders for helping me financially free.

Louis,
Chicago, Illinois