- Report: #398850
Report - Rebuttal - Arbitrate
Complaint Review: Better Trades Bettertrades.com
Better Trades Bettertrades.comwww.bettertrades.com Nationwide U.S.A.
Better Trades Bettertrades.com Bettertrades is a complete rip-off Nationalwide Nationwide
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In their class they recommend 3 tools - a subscription to their website, a charting software and a direct access platform software (all of them approximately cost about another 5000). The worst part is, they explain all of thier 2 day seminar with these "tools", so that you will have to buy them by the end of 2 days. Why are they not revealing all of this in the very beginning before you pay them for the seminar ?? I said that I will not be able to buy their tools and asked if I could find the same information anywhere else for free, they said they dont know. Later I realized all of the information they provide for a heft sum is available in the internet for free. I am glad that I did not buy their "tools".
It did not end there. In many occassions, I was asked to subscribe to their special "mentors" to get more knowledge. It will cost you ONLY 2000 dollars per quarter. Very cheap. I did not do that as well. They give you half information which is dangerous to play in the market. I only realized it after being 6 months with them. If you need some more information you got to PAY them. To sum it up, they really suck money out of you. I have attended a couple of classes (they call retakes) by paying 99 dollars each time again, and all you see is, other retakers not really making any money with their system. I have seen some people paying $5000 during the first 2 days (apart from the course fee) in the course and some more money later. A friend I met in the seminar paid 19000 till date for their courses and DVDs and yet down 40,000 in her trading account. Now you can understand if the system works or not.
They promise that you can make ATLEAST TRIPLE the amount paid for tution with in 6 months of joining the course. That means one can make as a beginner 12000 dollars in the market in 6 months. But they fail to tell how much amount do we need to risk for earning 12000. I started with 4000 and lost most of it in the initial 6 months. Their money back guarantee is not true. If you doubt my statement, ask them how many people did they give money back for. I have applied for money back and they said that I need to do atleast 36 round trips - meaning 36 buys and 36 sells with in the 6 months, and they will "EVALUATE" my trades and see if I am "eligible" for a refund. Now you can understand whether one can get the money back or not.
If you need to play with options, learn them properly. It wont work with the knowledge that you get from Bettertrades. Period. If you have an extra 12000 dollars to throw away, then throw 1 dollar bills out of your car window while going on a high way. Or may be donate it to somebody in need. That will give you more satisfaction. Atleast you will not go through a lot of pain because you did not get scammed.
After all this, I wish I never saw their commercial.
This report was posted on Ripoff Report on 12/07/2008 02:35 PM and is a permanent record located here: http://www.ripoffreport.com/r/Better-Trades-Bettertradescom/nationwide/Better-Trades-Bettertradescom-Bettertrades-is-a-complete-rip-off-Nationalwide-Nationwide-398850. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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