Complaint Review: Richard Morrison

The advertisements showed accounts starting with $200 - $500 balances growing to $5000 - $8000 in less than an hour.  That seems like a good idea.  I paid the fees including the upgrade to premium status. I funded the broker account with $1000 to get started.  At first nothing happened so I called the support line to see if something had not been turned on.  The response was "Wait for the system to find the right investment."   

Then some relatively ridiculous trades were made that lost money.  I started sending emails to the support team asking why my account was not looking like the demonstration accounts. No aswers for the first 2 weeks. However everytime I would send an email asking why my account was not doing something, a few trades would be executed, most of them losers.

I called the support line again and demanded to talk to the person that I had spoken with before.  He talked through a whole sequence of (I suspect bogus) actions like resetting my account and connecting it to the server, etc.  And I waited for another week with the same kind of results a few trades were executed (often 2 or 3 within a short time period) and then nothing. More than half of the trades were losers.

More than 20% of the capital in 2 different accounts has been depleted. I an waitng for the end of the week to see if anything changes.  I suspect I will not see any recovery of that money.

When I went back to look at the program sales pitch again I noticed that the demonstration accounts shown had balances that were greater than 10 times the initial deposit, after the first hour, but the balance was static while we were shown the account (that was supposed to be shown in real time by pointing to the clock on the site) if the trading system was infact generating that kind of value, I would have expected the balance to be increasing at a rate of ~$80/min.  There is no reason to expect a trading system to stop when you look at your account, mine doesn't. 

The program touts a 60 day money back guarantee.  But if you cannot get a message to them by email what good does that do?  I called my credit card company and disputed the charge explaining that I did not get the service that I had paid for.