Angry Consumer_10
Pine Hills,#2Consumer Comment
Tue, January 29, 2013
I recently found out that MTI lost their account with UGA due to so many complaints by clients, chargebacks and issuing bad paper. MTI is now apparently doing their own in house financing, ostensibly at 0% interest. The fact is that MTI jacked the price of their course up from $3995 to now $6995 so essentially everyone is now paying a very high interest rate 20% plus even if they pay in full based on the new inflated price of the course.
They are also offering a charting program for $200 which is available elsewhere for about $50.
If they hook you on one course, you will be pushed to buy other courses like Swing Trading or a Scalping Course both which sell for around $5,000+ and are way overpriced.
The mother of it all is their Mastery class which they proudly tell you is a mere $12,000 for about 2 days of generic training.
Don't be shy, say no to MTI
Angry Consumer_10
Pine Hills,#3Consumer Comment
Mon, January 07, 2013
Their products are way overpriced. When I first heard of this company, the price of their product was $2995 and that was for the Ultimate Traders Package. Now it is $6995. Pretty big increase. Perhaps the increase is to pay for all of the cancellations and refunds MTI gets once consumers come to their senses and see what they are really getting for their money.
MTI will start you off by inviting you to a FREE Webinar. This is supposed to be somewhat like a class or a workshop but in reality is a sales pitch for MTI's products. There is some useful information but most of it is basic stuff that even the most naive and newest of traders alwready knows.
Once you enroll in the FREE webinar, you will get lambasted with phone call and email reminders. They make it look like you either have a horrible memory or no organizational skills. Once call reminder would be ok, but c'mon 3, 4, 5 calls and the same or more email reminders? A bit much.
The telemarketers, who all seem very scripted and under a lot of pressure will tell you it is only 90 minutes and a great value. It was in my opinion a total waste of time.
I was told that unlike hotel seminars, there is no pressure, you watch from home, if you like it fine, if not no one will bother you. Baloney! I was inundated with calls from their used car salesmen trying to high pressure me to buy the UTP (Ultimate Traders Package) I was told that I could try it for 60 days and if it didn't work I would get a full refund. Baloney! As others have mentioned, you have to jump through hoops to get a refund and in many cases it is only a partial refund, not a full refund.
MTI also offer charting services for about $200/month. I was apalled when I discovered that the same service is available for about $50/month. I am all for a company making a profit, but c'mon. This sounds like greed to me.
Having been through the Ultimate Traders Package, I feel that it does contain some useful information, but nothing that you can't find on your own in a good t/a book. By the way, I found it interesting that the newest edition ofd the UTP makes references to events that happened back in 2007. Perhaps time for an update??
I also found it interesting that no one that I talked to at MTI are traders. Some say they trade in demo accounts but never with any real money. Query: If there system is so great and if so much money can be made trading Forex, why don't the employees themselves trade? Perhaps because the system is not what it is cracked up to be?
If you are really interested in Forex or t/a there are plenty of t/a books available that you can read and learn without spending the big $$$$ with MTI. I personally like Steve Nison w h*o is perhaps where MTI gets some of their trading ideas from.
In any event, stay away from MTI. It can be hazardous to your wealth.
Salford
Internet,#4Consumer Comment
Mon, July 09, 2012
It's rather unfortunate that MTI would choose to misrepresent their position in this manner. Like the original ripoff report writer, I was a customer who was missold the UTP product. The product and options that were sold to me in the sales call on Feb 27, 2012 were completely different from the position that was presented to me when I asked for a refund.
I went through all the lessons and passed all the quizzes for each and I was told I still had not completely reviewed the modules.
Going through various staff was like going through a merry-go-round. Firstly, I was ignored for several weeks, my emails went unreplied and I heard nothing for a long time. Eventually, when they did get in touch, the back and forth began.
Probably about 50% of all the material is purely motivational speaking, which may or may not be bad but is certainly not Forex education strictly speaking and wasn't what I signed up for.
As for the fraud, money laundering and other illegal activity charges, I don't really know the details so I cannot comment on those.
I certainly regret signing up for what I thought was an opportunity to learn from a reputable firm. I wish I had seen this prior to joining. The trades shown in the webinar are nothing compared to what you will experience first hand. Soon after signing up, they start calling trying to sell other programs to you in a bid to get more money without even seeing the first one through to measure progress. I signed up with the belief that if the system didn't meet my expectation I could always collect my refund.
This was how it was explained to me at inception. When I applied for the refund, they completely backtracked and started off on how I need to completely review the lessons; lessons which I had completed and passed all the quizzes, scoring 100% on most of them. The refund policy is interpreted by the Company in such a way that virtually no one can meet the requirements. It's like a trojan horse; if the lesson is 2hrs long and you skip even 1 minute, MTI would consider you not to have reviewed the lesson. It's ludicrous!
Also, the customer service is virtually non-existent. They simply ignore you like you don't even matter.
Bottom line is what a customer is sold is misrepresented at best and fraudulent at worst. I know from first hand experience and I encourage everyone to avoid this company like a plague. Save yourself the trouble, all the upside can be learnt from good Forex books and the downsides are certainly depressing. A word is enough for the wise.
MarketTraders.com
Lake Mary,#5REBUTTAL Owner of company
Mon, September 19, 2011
Disputes are never easy to resolve, I find that there is always two sides to every dispute and somewhere in the middle is always the full story. MTI like any company evolves through feedback, but MTI is not 100% at fault. We are all adults and we should read and make sure we understand what we are signing, and that we are comfortable with the terms and conditions of a contract.
It is not my intention to keep this disagreement going, especially since we have already canceled your contract. My intention is to communicate that MTI has been in business for 17 years, and we pride ourselves on having the best Forex Education. If we, as a company, do not listen to feedback like yours, we will not last another 17 years.
Since our last conversation and the settlement of your contract, Market Traders Institute has implemented multiple policies to ensure that your experience is not repeated. During the sales call, the finance contract and refund policies are fully discussed, before the sale is completed. Every client is scheduled for an orientation call, and the first step is to verify that the sales rep went over the financial contract and refund policy. The terms of their financial contract and the company refund policy are reviewed again. If the client does not agree or does not understand, they are referred back to the Sales Manager for further clarification. If after talking to the Sales Manager, the client does not want to continue, they can cancel their contract.
Also, to ensure that our company representatives are handling all calls in a professional and accurate manner, as expected by MTI. we record all phone calls , so we can refer back to them for any reason. In addition, all of the sales representatives calls are randomly review by the sales managers for quality assurance.
Again, disputes are not always easily resolved, but the important message is that we learn from the experience and strive to perform better.