Complaint Review: Trend7.com

I believed the hype in the Trend7 website, about the quality of this organizations stock picks, and due to just starting a long hours job, I signed up for their auto-trade relationship with their selected investment broker, Terra Nova. To make a long story short, it is a rip-off. Terra Nova fulfilled their contractual obligation by buying and selling the Trend7 picks. Unfortunately, half of them "stopped out". Neither organization will accept any responisiblity for RESULTS !! They don't care, as they make their money from the volume of the activity, and there is absolutely NO accountability for performance. My net loss was $3,121.02; from May, 05 through July, 2005; a relatively short time, during which there approximately 90 trades (in and out). Quantity with very little quality. I paid $2,752.48 in fees !!!!! I will be happy to make my Trading Log available to any and all !!

My sole purpose here is to prevent other potential investors from being victimized by this scam in which the only winners are Trend7 and Terra Nova. Below is a letter I sent to Trend7, and below that is their response. You can draw your own conclusions.

To the CEO of Trend7:

Attached is my "trading log", which is comprised ONLY of Trend7 picks. If you review this carefully, there are things that make no sense. There appears to be no selectivity and/or screening with your stock selections. One might wonder what kind of research went into your stock selections as the failure
(or stop loss activation) rate is so high. My, and YOUR trading log speaks for itself !!!!!!!!!!!!! Obviously, you make your money with your monthly fee. Terra Nova makes their money with their $15.00 per trade ($30.00 both ways). Both organizations did very well. I did NOT, losing over $3,000 !!!!! Obviously, I have no interest in renewing with Trend7 in order that you can make money and I can lose money.

I intend to publish my experience, utilizing only FACTUAL INFORMATION to the SEC and various consumer and financial websites, in an attempt to prevent other potential customers of yours from subsidizing Trend7 and Terra Nova, at their expense. Before I do this I will allow you the opportunity to respond.

His response:

Dear Sir:

As for your trades, we do not attempt to advise any client whether or not to purchase any stock or equity issue. We simply provide an analysis of our own trading activity. We do not now, nor have we ever, provided any sort of guarantee that our trading activity will be successful. In addition, Terra Nova is a licensed broker. They, like any broker, generate income from fees for trading.


Best Regards,

Support/Trend7

Paul
Lakeville, Massachusetts
U.S.A.