• Report: #286012

Complaint Review: Market Traders Institute | Ripoff Report Verified Safe™ ..businesses you can trust. commitment to customer satisfaction. MTI a foreign exchange education / training company based in Orlando suburbs Lake Mary, Florida. Education to beginner, intermediate, & advanced traders. Family owned, over 19 years.

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  • Submitted: Wed, November 21, 2007
  • Updated: Fri, June 21, 2013

  • Reported By:Holland Iowa
Market Traders Institute
255 Primera Blvd, Ste 230 + OTHERS LAKE MARY AND JAMAICA, Florida U.S.A.

Market Traders Institute REVIEW: MTI - Market Traders Institute's commitment to total customer satisfaction. Market Traders Institute focused on providing highest quality education. Increase customer support staff - the "No Client Left Behind Policy" ensures time with each client at least once a week to benefit their educational journey..


*UPDATE: Market Traders Institute pledges their commitment to Ripoff Report Corporate Advocacy, Business Remediation and Customer Satisfaction ProgramA program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. Market Traders Institute is recognized by Ripoff Verified™ as a Safe Business Service.

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Ripoff Report Verified™ REVIEW:

EDitor’s UPDATE: Positive rating and recognition has been given to Market Traders Institute for its commitment to excellence in customer service.

Ripoff Report’s discussions with Market Traders Institute have uncovered an ongoing commitment by the company to total client satisfaction. This means that clients can expect that the company will work towards finding a mutually satisfactory resolution to any complaints or concerns.  Market Traders Institute listens carefully to client concerns and sees them as an opportunity to learn from past mistakes and become more efficient as a company in the services offered and the support for those services. This commitment can be seen through a drastic growth in support staff, decrease in response times to customer concerns, and the "No Client Left Behind" policy. [continued below]....

.....

 The "No Client Left Behind" Policy gives Market Traders Institute students the assurance they need to know that they will not be on their journey alone. This policy, implemented in response to student requests, guarantees that each and every MTI student is contacted at least once a week from an experienced education specialist. This phone calls discuss education progress, general questions and ultimately, the student's individual trading goals where specialists dedicate their time to helping these students get the tools they need to succeed. 


Market Traders Institute is Rip-off Report Verified
Ripoff Report Verified™ .. part of Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program. A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business..
The information provided in this report is based on comments made by Eric Johnson, Jacob Martinez, Eric Herrera, and Matt Johnston during an on-site inspection held by a third party verification company with no biases toward Market Traders Institute along with interview comments by Ripoff Report staff.   

Market Traders Institute is an educational company whose goal is to create successful, ethical traders through a five phase approach with theory, practical application, home study environment, online study and analysis and on-site training. The company’s vision is to achieve $25 million in sales by the end of 2013 and $100 million by the end of 2016 by creating proprietary charting software packages domestically and internationally. Their target market are detail oriented individuals who have an entrepreneurial mindset and want to be their own boss and individuals who have no income ceiling limits such as engineers, pilots, and doctors. The company feels they are set apart because they strictly provide education for foreign exchange markets and are not involved with trades and brokers. They feel they have strong levels of support and they follow up on all levels (in person and online). They feel they have a competitive edge with their Analyst on Demand program and they state that on an ongoing basis they are reinventing themselves to adapt to changes, trends, growth and technology while designing and producing their own collaterals in-house.

The company notes that they are solely an educational company that trains their customers in foreign exchange and there are not government standards for what they do. The Commodities Future Trading Commission (CFTC) is the government body that regulates. Market Trader notes that rates are constantly changing second-by second and rates change 24 hours per day for 5 ½ days per week. To provide their users with the opportunity to utilize current information on how currency is traded, the company has an “Education on Demand Portal” that each student has access to. Furthermore, they have a no client left behind program where an account executive or customer service representative physically speaks to the student each week. The company also has an analyst on demand program where the student has access to 19 hours daily for interaction with an analyst. Each student is assigned an account executive that is available via phone during normal business

On a daily basis, Market Traders tries to ensure that customers are receiving the best customer support possible by monitoring their daily activities and documenting them. In the first 60 days that a customer works with a client the account manager team calls each student once per week and thereafter the student is called frequently. Every 21 days, the company’s standard procedure is to have customer service call each student. The company is continually working to improve internal processes by having the customer service team and account manager team to work on better communication skills. This is implemented by utilizing weekly meetings, role playing and weekly training in most areas. The company stated that the customer service department will stay the course with the programs and training that have been implemented as a result of customer complaints and all areas of customer service are constantly under review.

 Market Traders Institute / Statements from the owner. 

  CEO and founder of Market Traders Institute, Jared Martinez, has informed us that this policy is not just words on paper; it is a driving force in his company which was built by a trader for traders. After finally finding success after years of trading hardship, he became determined to establish a company of dedicated staff members with a spirit to serve using the best information and tools available to help students learn from his trading journey.

Jared F. Martinez, also known as the FX Chief, Founder and CEO of MTI, Author, Trader and Mentor said, "No one knows the struggle, hardship, fear, loneliness and hope of becoming a successful trader better than myself.  For that reason, I created Market Traders Institute Inc. with a team of great people who are committed to providing traders with exactly all the right education, tools, trading mentorship and state-of-the-art trading software that they need in order to have a fighting chance of becoming a trader. My hindsight can become their foresight. Everyone at MTI, myself included, has a spirit to serve and an ongoing dedication to never leave a student behind; To never allow them to go through their journey alone, like I did. For that reason, MTI is a brand students can and do trust."

President of Market Traders Institute, Jacob Martinez, said, "Market Traders Institute has been able to change the lives of students because of its dedication to helping each student find whatever they feel is success to them. This means the best support staff, an ever-changing education and a keen ear to understanding what students need as we make changes to accommodate them." Jacob Martinez added, "Asking what success looks like to each student is the first question we often ask because it is so important to our main effort as a business -- to live the 'No Client Left Behind' policy. Does it take more time? Yes. Is it worth it? Yes and there is no doubt in my mind that students feel the same way."

Some of the common complaints that Market Traders receives deal with product did not meet with customer’s expectation, the customer did not think the education would be as intense as it actually is, the product is too expensive and technical issues. In any instance the company utilizes their customer service representatives as a first line of resolution. In order to solve many customer complaints, the company has implemented a hardship program for financial or personal issues to defer payments, cancel their services or have the company provide a settlement. The cancelation program is designed for the first 30 days to allow the customer to opt out of the services. The company also has a refund policy within the first 60-90 days that can be utilized when a customer is not satisfied after training has been complete. In one instance where a customer was not satisfied, they specified that it took too long for the company to handle their complaint. A customer service manager was proactive by bringing the matter directly to the attention of the assigned account manager’s manager. The customer service manager first reviewed the student’s case, and then called the customer to sincerely apologize and state that the account manager would follow up with them in a timely manner. The client stated that they understood and the customer service manager was involved in the process until the matter was totally resolved.

Many of the complaints made on Ripoff Report describe that the customer was not satisfied with their training and requested a full refund as promised. The company stated that they feel that often times their refund policy is misunderstood by students. In 2010-2011 the company described that they experienced phenomenal growth. During this period students complained that the company was not paying enough attention to them. Some sales people proved to be unethical by setting expectations way too high for potential clients and glossed over the refund policy. Eric Johnson, the Director of marketing stated, “These actions contributed too many misunderstanding which resulted in many employee firings.” Market Traders Institute has promised to correct this problem by focusing on this particular policy by being proactive and making the necessary changes. Now students after reading the policy page much sign a “refund policy” acknowledging they have read and understood it. Furthermore, within 48 hours of the company receiving a complaint, the customer is called and should the customer not a free with the clarification or proposed solution, the company implements the “refund policy” to resolve the trouble. Additionally, in response to complaints on Ripoff Report, the company has added 18 new support employees to handle the company’s growth. They have created an Internal Compliance Department (ICD) with a director and assistant that report directly to the President of the company. The ICD can take corrective action should an employee prove to be at fault and mandate additional training. The company has also instituted a mandatory weekly training for all sales, marketing, and customer service employees. Furthermore, Market Traders Institute upgraded their IT Department with new servers and other technology to handle growth and increase in calls.

Because Ripoff Report requests that company does whatever it takes to make sure the company is providing excellent customer service Market Traders Institute has worked to set a better expectation level in all areas, improved training with account managers and customer service representatives. Since the improvements, the company feels that complaint levels have dropped off considerably and in the last 14 months there have only been 2 complaints.

Market Traders Institute is happy to be a part of the Corporate Advocacy Business Remediation and Customer Satisfaction Program because since 2004  the President has focused on developing successful, ethical traders and they take a great deal of pride in their image. The President established the “President’s Eagle Club,” which recognizes outstanding employees. Jacob Martinez states, “These valuable employees are true team players because they support and assist all customers above and beyond the call of duty.” The company is committed to uphold the CAP ethical standards. However, they stated that from time to time even the best companies have slipups and they appreciate that Ripoff Report allows them the opportunity to continue to strive towards excellence even though the occasional error may occur. 

Market Traders Institute employees have affirmed their passionate commitment to customers and the changes that have been set into motion to assist students above and beyond the call of duty.Customer Support Manager Matthew Johnston said, "Every person on our team has a spirit to serve and isn't afraid to treat students like family. The students come before all else. Students hold us to a high standard and we are dedicated to meeting their expectations and then some through personable and quick support that leaves our students confident in our organization and their team."

Market Traders Institute takes employee satisfaction seriously as well. Employee feedback and surveys reveal comments such as this:  "Market Traders Institute takes employee satisfaction seriously because these happy and devoted employees take their passion into their jobs in ways that give students confidence and energy. Employees are expected to contribute, be innovative, and overall serve the client to the best of their abilities in an environment built on team work. This idea of teamwork isn't just for within the office either; it is how we view the student-staff relationship too."  Rip-off Report was pleased to learn that Market Traders Institute’s past and current approach to business is focused on its pledge to total commitment towards client and employee satisfaction.

STATED IMPROVEMENTS FROM MARKET TRADERS INSTITUTE.

Market Traders Institute has re-devoted itself to clients in powerful ways through an increased customer service support staff, increased training on many levels of the company, and the "No Client Left Behind" policy. The customer support staff is meticulously chosen for the most passionate candidates who are trained to aid students on many levels. These team members speak directly with customers to address complaints and questions quickly and fully. All representatives have undergone and continue to embark on training which is designed to better equip them with the tools they need to help customers to the best of their abilities. Along with these changes and the "No Client Left Behind" policy which ensures phone time and check ups between students and support staff, additional education products are added on a regular basis to help Market Traders Institute specifically address the concerns of students as they arise. Along with this, MTI has taken steps to help students reach representatives sooner with their educational comments and concerns through live analyst chat boxes available 19 hours a day, weekday workshops, and even segmented Analyst on Demand sessions to help student choose their preferred learning level. 

Read more about why consumers should feel confident when doing business with a member of Rip-off Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. Yes, it’s a long name for a program that does a lot for both consumers and businesses alike.

Read about Rip-off Report Corporate Advocacy Business Remediation & Customer Satisfaction Program,.. A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. this program works. 

As a matter of policy, when a business becomes a member of the Corporate Advocacy Program they agree to allow Ripoff Report to contact every client who filed a complaint so they can make things right with them.  In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses so we can insure that the member business did right by their customer ..  Market Traders Institute did just that.

Take a peek at their YouTube videos..

http://youtu.be/SW4O9183cW0

http://www.youtube.com/watch?v=NrS2I-KEK98&feature=share&list=PL0RUxm054vIWvvT3MqtREmqtOhhvi4dH8

http://www.youtube.com/watch?v=QtUZu9QT5Vw&feature=share&list=PL0RUxm054vIWvvT3MqtREmqtOhhvi4dH8

http://www.youtube.com/watch?v=bwdr6wuMy1I&feature=share&list=PL0RUxm054vIWvvT3MqtREmqtOhhvi4dH8

http://www.youtube.com/watch?v=ZM_uLFf6Ccs&feature=share&list=PL0RUxm054vIWvvT3MqtREmqtOhhvi4dH8

In summary, after Ripoff Report’s 3rd party reviewers and our interviews with the company, which included discussions with Mr. Qazi, Ripoff Report is convinced that Market Traders Institute is committed to quality delivery of services resulting in total client satisfaction.

Again.. As a matter of policy, when a business becomes a member of the Corporate Advocacy Program they agree to allow Ripoff Report to contact every client who filed a complaint so they can make things right with them.  In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses so we can insure that the member business did right by their customer .
---------------------------------------
NOW TO THE ORIGINAL REPORT THAT WAS FILED    
 

Market Traders Institute Makes False Claims currency trading, currencies, trading software, managed accounts, live seminars, training LAKE MARY AND JAMAICA Florida

This company sells software to help you be successful in trading. Their return policy is a "full" refund minus $500. The software costs $3,995. The company does live web trading sessions where the owner discusses and tells everyone what trade we will be making that night and what profit to expect. His web site now shows that his track record is 10 for 10 winning trades. It shows the trading chart for Thursday night, the night I watched. He said that we were to enter the market at the optimum price of 146.05 and get out at 145.45. His web site shows how wonderfully successful he was that night. But his chart is fake. The price never went down to 146.05, the low was 146.09. He said if the trade didn't develop in 6 hours we should drop it so that's what I did. But he shows that he not only bought in but got out in a matter of a few hours. His target price of 145.45 did not occur until the next morning over 12 hours aways. They use this record to induce people to buy their software, but they lie about it. I wonder how many other trades they have lied about. Oh, and by the way after I emailed them, their "10 for 10" and "winning chart" disappeared from the web site along with the records of the actual winning trades a month. Now it says it does 8 trades a month. I wonder what happened to the other 2. And he runs one of these seminars once or twice and day and each time, I would imagine, he's recommending a trade. That would be at least 20 a month. Bogus reports, over-priced software. I'd steer clear. Susan Holland, Iowa
U.S.A.


This report was posted on Ripoff Report on 11/21/2007 03:51 PM and is a permanent record located here: http://www.ripoffreport.com/r/Market-Traders-Institute/LAKE-MARY-AND-JAMAICA-Florida-32746/Market-Traders-Institute-Makes-False-Claims-currency-trading-currencies-trading-software-286012. 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.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

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Updates & Rebuttals

#1 Consumer Comment

Still waiting for help...

AUTHOR: Angry Consumer_10 - (United States of America)

First of all, obviously the second post by "Here to Help" was written by a different person who still remains unindentified. Secondly, this 5 year old complaint still goes on unresolved. Why??

Next, as I stated before, I do not work for a competitor and was not aware that there are other companies who apparently mislead people as your company does. Wild claims of profits on "pivot point predictions" Using George Soros $1 billion trade etc. makes all of us wonder.

I really don't want to play ping pong either. Just looking for some answers which neither you or the first person want to address, rebutt or clarify other than say that they are somehow misrepresentations. Please explain. All of us want to know.

How do I know so much about you? Much is on the internet. Even with the internet, traders who actually trade network with other traders and your company is very well know and spoken of. I wish I could say the comments were positive or complimentary, but they are not. What I have posted so far is just the tip of the iceberg. There is much more.

Before you post information about George Soros you may want to check to see where he is investing. Hint, it is not forex, it is stocks. Check it out. Forex is a asset class to profit from for sure if you have experience and are on the right side of the trade.

And if you check the votes on this thread, the majority of people are pretty much saying that you are full of crap, you do realize that don't you?

The great merchant John Wannmaker once said that there are two ways a client will talk about you 1) Is if they have recieved more than they wanted in which case they will tell 1 or two of their friends or associates. 2) If they feel they have been cheated in which case they will tell 10-15 of their friends or associates. I may be one of the few who is going public, trust me there are many more who are unhappy with your company, many clients, many who have attended your "webinars" (glorified sales pitches) and many who are sick and tired of getting inundated with emails, spam, phone calls and junk about your products.

"Success at the service of others not at the expence of others."
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#2 UPDATE Employee

Help for Angry Consumer_10

AUTHOR: MarketTraders.com - (United States of America)

"Angry Consumer_10"

As a business practice we don't engage in this kind of back and forth with competitors. These forums are meant for people who actually have a problem that can be solved. Most of the claims you are making are skewed versions of the truth or outright lies. You seem to make a lot of claims relating to how our education works, how our customer service is, what our response times are, what happens when you call our phone number etc. even though you said you have never purchased anything from us. Its unclear how you would have this information to give these reviews, why you are calling us, or even what your issue is. How do you know how much anyone on our staff gets paid? How would you know when our analysts are available? How would you know how much education anyone who works here has? 

We are not going to go point by point through everything, it seems you are just looking for something to do. If you have a genuine issue or claim that you would like us to resolve, please identify yourself and we can work through it together. If you would rather not identify yourself here in public, please contact our customer service manager and he will help you out or escalate your problem until it gets resolved. I fear however, you aren't going to identify yourself, you don't have an issue you need help with, and you will just continue to try and confuse people in an effort to bolster the sales of your own product. Good luck to you and your company, we won't be responding further.
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#3 Consumer Comment

Where is the help?

AUTHOR: Angry Consumer_10 - (United States of America)

I appreciate your response Mr, Miss, Mrs or whomever. Since you didn't sign it, I have no idea who you are.

However, after carefully reading and rereading your response, I am confused. You said you were offering help. Funny thing, I couldn't fing any help.

You also stated that I made many incorrect statements yet you failed to address even one. So is it safe to assume that everything I said is absolutely true? It would appear so.

You also state that I am addressing an issue that is over 5 years old. If that is the case, how come it has not been resolved yet? I mean five years and still no resolution? C'mon. What kind of service is that?

You also suggest that I work for one of your competitors. I didn't realize you had any competitors. You mean that there are other people also misrepresenting the Forex, mistating the potential of George Soros's return and making it sound that anyone can duplicate it, hyping pivot point predictions and have analysts that do not trade, make average wages and have a very basic knowledge of the markets? Trust me. I am not associated with any of those companies and did not even know they existed.

Isn't it true that your Analysts On Demand are frequently not available during the 19 hours a day that they are supposed to be available online? What's up with that? And isn't it also true that these AODs use fake names not their own? What is the deal with that?

Are you going to deny that your top presenter was in fact working for the  Martinez family previously in a company called ITradeFX which was shut down for non compliance issues with the NFA?? And isn't that the reason he never mentions the name when he claims he was a VP for one of the largest Forex companies in America? By the way, how many employees did that company really have and were they really "one of the largest Forex companies in America?"

I am on your mailing list which is how I got that George Soros email. And I have recieved calls from your people which is why I knew about Josh Martinez's supposed big trades.

By the way, savvy investors look at 5 year rates of return, not short term returns. Also the big question I asked last time which was never answered is, "Even if Josh Martinez did indeed make this trade, WHO else has done it?" Lot's of people play basketball but there is only one Michael Jordan.

And why is that whenever we call the phone number listed we get a voice mail and our messages are never returned?? Just asking.

Getting back to Susan's complaint, your company does run so called webinars 2-3 times per day. I know because I get emails for everyone of them. The software is expensive and available elsewhere for about $50. Your salespeople are like Monty Hall of the old "Let's Make A Deal" TV show. Many people can buy the same product at a price that can vary by as much as $2,000. 

Last November I recieved a series of emails and phone calls regarding a once per year 40% Black Friday special. Hmmm. Nice deal I thought but I passed. One month later I was called about another 40% Black Friday special. WOW! Did a year pass that fast? I passed againl. Then in January I recieved another 40% discount offer. Three times in three months for a once a year special? Then I was told the price was going up by $1,000. Better hurry and buy. Then after that your company started offering a $2,000 schlorship. Then there was a $250 ten day deal never offered before.

It seems the deals (and the hype) never stop. Needless to say I decided to move on. Why do I post? Hopefully I can save at least  one poor innocent soul the frustration of what has happened to so many others.
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#4 UPDATE Employee

Help for Angry Consumer_10

AUTHOR: MarketTraders.com - (United States of America)

"Angry Consumer 10"
Sorry to hear that you are having a difficult time. Have you purchased something from us before? I see you have posted conflicting information on several posts that are over 5 years old. It seems your main complaints are with the sales process or marketing, not with the quality of our education or with a sale. There are numerous false claims and inaccurate statements in your post, and rather than try to hash out each one of them line by line, we would like to work with you to try and make sure you are a satisfied client. There are several indicators though that make it seem like you are a competitor speculating about our internal processes, trying to cast doubt on our organization to put yours in a better light. We don't cold call anyone, everyone whom we contact has requested information from us or registered for a webinar, so if your issues revolve around our marketing, you can simply opt out at the bottom of any e-mail.

None of the claims you have made seem to be about any kind of transaction with our company.  If you have in fact purchased something from us and have a legitimate complaint about that transaction, we would like to do everything in our power to make things right with you. Please either list your name and we can look you up, or contact us directly and ask to speak with our Customer Service manager Matt Johnston. 407-740-0900
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#5 Consumer Comment

The Hype Continues...

AUTHOR: Angry Consumer_10 - (United States of America)

There is no doubt that MTI dba Next Step Financial Holdings has made outlandlish and wild claims in the past. And it appears as though the hype is continuing. Today I found this in my email box:

You've heard of George Soros, right? He's that guy they say invested in the Forex market and managed to profit nearly $1 billion within 24 hours back in 2002. Not too shabby, huh? Do you want to know why Soros profited in that way? He knew where the money was. This billionaire chooses to trade currencies because he knows that money can be made in the Forex.It is time for you to learn why billionaires like Soros are Forex traders. In MTI's Ultimate Traders Package on Demand, you'll get a step-by-step education that will show you how you too could learn how to get involved in this money-making market and possibly even place trades that could go down in history. Click here to learn more in an upcoming webinar >>Taking the first step toward a brighter financial future through Forex trading begins with a small step. You need to learn about the tools available to you as a Forex trader. You need to find an educated mentor ready to show you the ropes and to honestly teach you (without hype and untested knowledge) what you could do as a Forex trader. Soros chose to  enter the Forex market and place that trade and changed everything... Your time to change everything is now. Click here to attend the webinar that could show you how >>To Your Trading Success, Josh Martinez

LOL! It is true that George Soros made $1 BILLION $$$ trading the Forex back in 2002, but doesn't the above email from apaprently Josh Martinez, son of Jared Martinez sound like hype and a get rich scheme? I wonder if these people have checked on what investments George Soros is in right now. Here is a clue. It is not Forex. It is stocks. Just google George Soros recent investments. 

MTI and Next Step Financial Holdings should realize that they are NOT George Soros.  Not to mention that that trade by Soros was a one in a billion bet. It is not likely to be duplicated ever again.

There is a reason why Forex was initially only offered to the mega rich. Those who had amassed a huge 7 figure net worth and were successful traders already. And there is a reason why most other schools and training companies offer Forex training as an adjunct to other asset classes like stocks, mutual funds, bonds, real estate, futures and options. Forex is high risk. And not for the faint of heart. Beginning traders and investors have no business trading Forex unill and unless they have amassed a reasonable net worth and much experience.

MTI also brags calling themselves the "oldest and most respected forex school in the world" Oh yeah? Says who? Only MTI and Next Step Financial Holdings employees and owners.  And how can they call themselves an institute? Is there an accreditation required? Or can they just call themselves that? What are their qualifications? Same with their so called analysts. Are they certified and licensed? Doesn't appear to be. In fact, based n what I have heard, all these analysts do is  get some basic FX training for a few weeks and if they can talk, they are analysts. They are not even real traders. And make less than an average salary.  I have been associated with other trading schools where the analysts and trainers have spent decades on Wll Street and the CME and are real traders who make 6-7 figure incomes. Those are the people I want to talk to and be advised by.

Oh by the way, one of their top presenters brags about being the VP of a major Forex company, in fact one fo the largest forex companies in the USA. However, he never mentions the name of that company. Want to know why? Because said company was owned by the Martinez family and was shut down after numerous complaints and for con compliancy. No wonder he never mentions their name!

There is also a lot of talk about big trades made by Josh Martinez touting incredible returns.  I asked for confirmation slips, there wouldn't or couldn't provide that. But I also  have another question; how else is doing this good? If in fact it is true. All I got was silence.

And as for the lifetime gurantee MTI offers, what is lifetime is the company gets shut down like other companies run by the Martinez family? Lifetime is as long as the company stays open. Which doesn't mean forever.

When it comes to MTI and NEXT STEP FINANCIAL HOLDINGS, CAVEAT EMPTOR

BUYER BEWARE!
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#6 Consumer Comment

Nothing could be further from the truth

AUTHOR: Angry Consumer_10 - (United States of America)

I agree 100% with Susan and as for comments from the rubuttal preceding mine, nothing could be   further from the truth.

1) MTI conducts "webinars" 2-3 times per day, sometimes more.  The skit goes something kike this:

    MTI will buy your name from Trader Planet or some other source and you will get a call from an

    inexperienced telemarketer who will say something like like:

    Mr/Mrs. ?? My nae is _ calling from MTI (or NEXT STEP FINANCIAL HOLDINGS-same company basically)

    and I am calling you back because you requested information from our website. Do you recall doing

    that?


Caught off guard, you will say, (Uh yeah, maybe)

Then they will nail you with a canned sales pitch that sounds like it is right out of a tin can and basically convince you to attend a "FREE" webinar. Then they will give you a choice of times, morning, afternoon or evening.

If you resist and have something planned then they will hit you with more bull.

"This is the last webinar for this week or today and we are almost full (baloney-the webinars never attratc more than 100-200 max with a capacity of over 1,000) you better catch this one or I don't know when we can get you in again.

First, let's put to rest the FREE webinar. Nobody gives  you anything for free. The purpose is to get you to a webinar just like Time Share people get you to a FREE presention and offer you gifts.  Nothing is free. Once you get to the webinar, they will try to seduce you with a fast talking sales pitchman who will cover general basics about the Forex  but really push you to buy Market Traders Forex course

2) You will be told that the presenter will be doing trades while the market is open and these are live trades. Not really. What the presenter does is demonstrate some techniques, there are no real trades  being shown. This is just a comon to get people to attend. See the master Forex trader performs trades right before your very eyes! Sounds like something you would hear at a carnival or a circus.

3) Getting refund is difficult if not near impossible. Once MTI gets your money, they don't want you to get it back. Sure, when one of their sales people calls you they will tell you to try it for 60 days and if you don't like it, you get your money back, no questions asked. Yeah right! They are going to ask you a lot of questions that you have to prove to MTI's satisfaction and God forbid if you are late on even one payment, then the so called guarantee becomes null and void and you get nothing back.

Finally, MTI has been around supposedly since 1994 and claim to be Forex Leaders, "The first and oldest Forex educator in the world." But ask them to prove that. Another thing, Trader Planet, FXCM and other companies award the best Forex training out there but MTI never wins. Not even 2nd. They end up as finalists only. If they were so great, why didn' they win?

My advice is to stay away from these guys. Search other options and when you get a call for a FREE webinar, if you have nothing better to do and can waste 90 minutes on pure entertainment, go ahead and watch it. But beware of the incessant phone calls that will follow from MTI pitchmen who will try to "CLOSE" you on the phone and tell you what a wonderful progam this is.

Oh by the way, sometimes they call saying they are from Next Step Financial holdings. For all we know it is the same company owned by the Martinez family operating in the same building. Also be aware that they use locall access when call you. That means that even though they are calling from Florida, it will show up on your caller ID as a local number with a local area code and prefix. They figure you are more likely to answer the phone and when you do they will dazzle you with their sales skills. As mentioned before, what they will really do is bore you to death with their canned sales presentations that sound like it came straight out of a tin can.

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#7 Consumer Comment

A Mathematical Characterization of All Day Trading Systems

AUTHOR: Matthew - (U.S.A.)

First read the Wikipedia entry on "Brownian Motion." Now that you understand what a stream of random numbers is (That's what market fluctuations are.) you can understand why no one came make the kinds of claims this company makes. They may as well be selling software that hazards a lottery guess. I have a simple thought experiment for you to consider: what would be the effect on the market if everyone was employing the system in question? Would all investors break even? But no qualification was made by the company regarding the behavior of all the other traders. Markets don't produce anything. Someone's gain is another's loss. What is needed is a return to the days of truth in advertising laws with criminal penalties. I would think that anyone who ever wrote a check to this company would have a cause of action based on their fraudulent claims.
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#8 Consumer Comment

this complaint defies common sense as the trades are conducted live for anyone to track for themselves!

AUTHOR: Willson Davis - (U.S.A.)

It is quite peculiar all of the complaints are from individuals who have not purchased the education but simply attended a FREE live trade demonstration.

I've been through the education so I'm familiar with Market Traders.
First they only conduct live trade demonstrations twice a week not throughout the day.

Second, the trades are conducted in the live market for anyone to track via platforms from various unrelated brokers. It would be suicide to misrepresent a trade in the live market which would be easy enough for anyone to discredit.

I applaud these educators for having the confidence in their education to stick their necks out, and open themselves up to the general public by calling live trades. Most educators tout their "methodologies" but when asked for an entry or exit point they shy away.

I for one don't want Market Traders to stop doing what they are doing because a few disgruntled rookies happened to sit in on a trade that went against them. I'd feel differently if the complaint came from someone who actually purchased the education, utilized every tool and system available, yet still lost their money.

These guys are the real deal, they aren't afraid to call a trade, and furthermore they offer a money back guarantee on their material if a client isn't satisfied.

For anyone wanting serious education on learning how to successfully trade the Forex market (who is not looking for a brainless RED LIGHT GREEN LIGHT system), but is willing to put in the time and effort required, give these guys a call.

Wilson ****
Florida
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#9 Consumer Comment

I am also a client of the company

AUTHOR: Richard - (U.S.A.)

To everyone interested in the Forex Market,

I have been a very happy client of this company now for over two years. Unlike Susan I purchased the education for the full price of $6,000. After reading her report i was very disgusted by her false comments. The purchase includes a lot more than just software. With the purchase I was given 12 months of charting that are absolutely neccessary to place proper trades. The charting that MTI offers is the most advanced charting i've ever used. It comes with 185 indicators that also allow you to create your own trading system. The charting also comes with 7 trading systems that market traders developed and were backtested before being released. You can back test them yourself as well.
The education starts off with 16 lessons that are accompanied with a work book to help you completely understand how to read charts and help you figure out good entry and exit strategies to maximize profit in the Forex and minimize the risk.

The second portion of the education starts with on-line classes that are interactive and archived. Once you purchase the education you are able to attend this class as many times as you would like for the rest of your life. During the class the professional traders make sure that you completely understand all the material and help you apply it to a demo account to make sure that you are successful before letting you risk any real money. You can also schedule a 1 on 1 tutoring session with a professional if you need additional help at no cost(great support).

The third portion of the education is now when you start going to advanced mentorship classes(on-line as well) that are given by the founder of the company twice a week and are very helpful as well. At this point in your education you are encouraged to start trading with real money but you are recommended to only do mini trades to make sure that you are risking less money being that you are still semi-unexperienced. The reason it is good to trade with a mini account:
~You will trade less
~you will be more selective with the trades you take
~The habits you develope at this point by trading real money will be stronger

During the last portion of your education you get the opportunity to attend a live two day on-site class that is offered a few times a year in Florida and they also travel to a different state every month to try and get closer to other clients that don't live by the company headquarters in Lake Mary Florida. The best part of the two day class is that they teach very advanced techniques and it's the perfect opportunity to network with other clients to find new bussiness opportunities.

The trades that Susan spoke of twice a week is part of a program that is offered to clients called "The Earn While You Learn Program". During this web presentation the director of education places a live trade call that allows us clients to copy on their own account and helps us make money by piggy backing on his trade. Last month I made $3,770 just by following these live trades. She was right by saying that these trades happens 8 times a month and honestly it's a gift from the company. It saves me some time from having to analize the market myself and all I do is copy his trade and 9 times out of ten we make money.

This education is not for someone who is not really interested in making money. It is very detailed and you are honestly offered more support than is needed. I have been nothing but successful and love the fact that I have been able to quit my job and now work from home. I have brought many refferals to the company and have nothing but happy friends and family members making money. I recommend the education to anyone who is seriously looking to be their own boss and doesn't mind sacrificing a couple of hours a day to studying. Copletely worth it and I plan on being a client for years to come.

Thank you Market Traders for helping me financially free.

Louis,
Chicago, Illinois
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