ED Magedson – Founder
Fully Funded TRaderChicago, Illinois USA
Fully Funded Trader; Rob Eatman; Andrew Yueasek; FFT Fully Funded Trader Deception and no Funding Chicago Illinois
I had the unfortunate learning pleasure of trying to build a business relationship with the Fully Funded Trader business team, and I will be happy to share all of the lessons I learned from this relationship with anyone contemplating FFT. I will provide this in my perspective, which can be corroborated by five other paying clients. I will try and keep this brief, but if you are interested in details, please contact me by replying back to this post.
First, they talk a good game.
Second they have a viable, although fake, business plan. This plan made it look like “They don’t succeed unless you succeed.”
I signed their contract and met EVERY SINGLE aspect of the contract in order to become a trader funded by this FFT “business”.
When they noticed that I was becoming close to meeting the funding requirement, they stopped all communication. I became increasingly concerned about their business skills, practices and holding a relationship with this business when real money was on the line.
In the end, once I met all of the requirements, I never heard another response from them.
In search of an understanding I reached out to other clients, former employees, former owners as well as vendors of FFT. The bottom line is this; they don’t have money to fund anyone….. Three of the five clients I talked to said that as they became close to meeting their funding requirements, like me, all communication stopped. If their business was really dependent the client’s success, this should be the celebratory moment, but in reality we threatened the very core of their business plan. Two vendors told me personally that they have been owed several thousands of USD and haven’t been paid in months.
The message I will leave you is this.
1) Validate the business as much as you can. 30 years of executive management and vendor contract negotiations, and I fell for this one. My BAD.
2) Verify if you can actually make the cash you expect. The main trader and trainer (as well as majority owner) Andrew Yueasek, who’s background is sales (btw), is a trading HACK. Yes, he is a hack. I wouldn’t do anything he advised without express expectations of losing money, or at minimum, making $30/day. Don’t believe what he tells you, ask to see him in a live market, you will change your mind.
3) This concept is not bad and like several of the people I talked to told me, there are very reputable “consignment” firms that are honest and really make the plan work. This one is not.
4) All of the people at this outfit are Larry Levin throwbacks, if you want to know they type of service you will receive, just search for “Larry Levin complaints”, these are people that are worse than them…. Scary.
Lastly, Andrew Yueasek and those at FFT will try to rebut this complaints with more lies and deceptions. Andrew is a hot head and not concerned about screaming at his “Clients”. I will tell you that EVERY client I know from that outfit left VERY unsatisfied, VERY unsatisfied. We all chalked it up to dealing with the very bottom of this industry, and moved on. It wasn’t until I received a call from the last person to tell me his issues that I decided to write this overview of my experience.
Please feel free to respond back and I will provide details… They are astounding. Don’t make the same mistake I and several others made.
This report was posted on Ripoff Report on 09/05/2013 07:18 PM and is a permanent record located here: http://www.ripoffreport.com/r/Fully-Funded-TRader/Chicago-Illinois/Fully-Funded-Trader-Rob-Eatman-Andrew-Yueasek-FFT-Fully-Funded-Trader-Deception-and-no-1082104. 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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