Complaint Review: Apex Revenue LLC James Poindexter Doug Bisel - Laguna Hills Internet

Apex Revenue LLC was reportedly started in late 2013 by James Poindexter (the Principal Trader), Doug Bisel (James friend whom he taught to trade the Forex) and Tom More (a successful MLM businessman).

I was introduced to Apex by some mutual friends and paid $2,000 to become a “Charter Member” in January 2014 along with over 150 other people.

Apex Revenue LLC was promoted as an “Educational Company” and also offered a ‘Trade Copier Service”.  The Educational part was and is a ‘work in progress’ Forex Trading e-Learning platform created by James Poindexter.  It was not even available until late April early May.   The Forex training is a cumbersome piece of HYPE that’s time consuming to navigate.  It’s very basic information.  I found that I could get basically the same information and training for FREE from other vendors online.

James claimed to have made 500% returns each year for the past five years, but never provided any proof of that.  Instead, they offered proof of their Master Trading account on MyFxbook.com that showed great success, 192% in May 2014, 25% in June.   A lot of people subscribed to the trade copier service and paid $99 per month for Apex Revenue LLC to managed this for them.  James even stated "don't watch your account every day.  It will drive you crazy.  Look at it once a month instead."  

We interviewed James Poindexter in July and asked him what if something happened to him… who would monitor the trades?  He responded that Apex also has other traders who are there as “back up…like Doug.  I taught him how to trade using my methods.”  So, James, Doug, you’re both trading the Master Account?  You’re using stop loses in all your trades and managing the risk?  Is that right?  “Yes!  Of course.”

July 22:  2 trades were entered without stop losses.

July discussion with Apex:

“James, it’s the end on July and we are worried about these 2 open losing trades.  What’s going on?”

“We think the marketing is due for a pull back.”

Aug 13:  1 trade entered without a stop loss.

Aug 18:  2 trades entered without a stop loss.

Aug 19: 1 trade entered without a stop loss.

Well, apparently James finally looked at the Master Trading Account he was responsible for managing...

August 26^th, 2014

Doug Bisel announces on a morning call that they ‘made a mistake’ and allowed an outside group of traders in another country trade the Master Trading Account for them and they did not place any stop losses in the 6 open trades…. These morning calls were usually recorded and made available to members shortly afterward.  However, this call was NEVER made available.  Instead, we received the email below the following day:

“August 27, 2014

Dear Trade Copier Clients,

At Apex Revenue, we teach and utilize 2 different trading strategies, one long term and one short term. At the beginning of the year we were introduced to a group of 3 traders that traded our short term strategy just like we do, only they were a little more conservative than us. Once we did our due diligence and looked through their 3 year track record, we hired them to supplement short term trading opportunities on our forex account so we could continue to focus on the evolution of Apex Revenue and all that goes into a startup company. 

Over the next several months, they helped execute some of the short term trades on our forex account.

 In late July, they took some trades that didn’t appear to have a stop loss. This is something we don't typically practice because of the risk, however using hidden stops is a common practice in forex trading, so we weren’t concerned. We had no reason to doubt as they had a long track record of success. But they didn't check to see if their were stop losses!

As the market continued to move against us, all communication ceased and we were left with some open trades on our forex account that didn’t have a stop loss.

We have since ceased relationship with them. 

As we see it, there are currently 2 options for our forex account: 

1. Close the trades and realize the loss.

2. Hold the trades open and wait for a potential pull back. 

We think that a pull back is inevitable and are going to hold these trades open on our forex account for now. Because of these unique circumstances, these trades do not currently have a stop loss as we are monitoring them closely.

Please remember that you are always in full control of your forex account. Apex doesn’t trade for you, your forex account copies our forex account with your permission. If you want to close these trades on your forex account before we close them on our forex account, just call the broker and ask them to close the trades for you or close them yourself on a MetaTrader 4 platform. If you want to continue to copy our position and hold the trades open, there is nothing else you need to do.  So there's no acknowledgement of the responsibiolity for managing the trades that they entered or their negligent mmanagement of their vendor who they allowed to trade the account for them ... without our knowledge or consent.  They subscribers were lead to believe that James Poindexter or Doug Bisel were the ones doing the traders.  Not a group of traders in a foreign country!  If had bee told that I would have asked ob about the quality control measures to assure that someone was in responsible control of the account!

If you need help, please contact support through the chat on our website or email us…”

In Summary

Apex Revenue LCC and its management directly stated that they used STOP LOSSES in ALL their trading to manage risk.  They LIED about that and they mismanaged their vendor and did not check to see if there were stop losses.  They assumed there were.  And then placed the responsibility back onto their subscribers to ‘take the losses or continue to hold the trades open with the expectation of a pull back.

Subsequent conversations with their help desk personnel have shown they are extremely defensive and arrogant about their “mistake.”

Apex has also adjusted the information you can see on MyFXBook so that you cannot see the OPEN TRADES or that they have added a lot of money to their account to make up for the huge draw down.

Their Website has also been a train wreck.  It was updated an released to it's members in March then completly revamped in Sept 2014 and still did not function properly.  The Compensatoin plan has changed so many times we all kinda gave up after awhile trying to keep up with weekly changes!

I pray that Apex Revenue LLC will soon see that they have RIPPED OFF their subscribers and that those who have been ripped off will receive the restitution of the money they lost from the mismanagement of the trade copier service and the investment advice the received from Apex Revenue LLC.

Please comment and share your experience with Apex Revenue LLC, Good or bad.

Please post this to Facebook groups and share the truth about how this company has done business with you.

File a dispute with your credit card company.

Please warn others that you know about how Apex Revenue LLC managed their service and ask others to share what they think about the ‘Education Program”.  Don’t just take my comments as someone who got ripped off.

And most of all…

Pray the Apex Revenue LLC and those they have harmed financially.