- Report: #951203
Report - Rebuttal - Arbitrate
Complaint Review: Schaeffers Research.
Schaeffers Research.Cincinnati, Ohio United States of America
Schaeffers Research. Options Advisor. Cincinnati, Ohio
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Sounds very good, arent it? I should be alarmed that there are no losses posted as well as the percentage of the gain/loss rate. Of cause, they informed in their hand book, but only after ones buying the service, that one should be happy with the gain under 50%!
I have bought their yearly subscription because I have a limited account and their promise of short holding periods - from about one week to one month, so the money isn't tied up for long periods of time. However, their trades set for up to two-three months. One has to have decent money available for the trading or would stuck for a long period of time. It is mean that there is no cash flow with the limited account.
I have to admit that it was a great offer with the discounted price for a one year and free second year subscription. Anyway, I did not get what I expected from their promises and contacted them with the request to subtract a fee for the month of services and give me a refund. I had a battle with them for a week. They wouldnt bother to respond on my email and answered only after my attempt to inform them that I am going to file a credit card dispute. The disagreement went to nowhere. Finally, I have contacted my credit card for a dispute; but I have missed the important part in their terms of conditions: due to the exclusive nature of the service subscriptions are not refundable. What nature? Will I get their advice a year ahead of the market move? They forgot the simple rule that a customer is always right. All reputable investment advising services, such as Baottarelli Research, Zacks investment or Guy Cohens services, to name a few, have from 35 to 90 days money back guarantee. This one is probably so good that has to tie their customers with no refund policy in order to stay in the business.
The lesson I have learned is better to spend money on education and made trades with your coach while attending the classes than being trapped in the investment advice services such as Schaeffers Research.
This report was posted on Ripoff Report on 10/05/2012 09:12 AM and is a permanent record located here: http://www.ripoffreport.com/r/Schaeffers-Research/Cincinnati-Ohio-/Schaeffers-Research-Options-Advisor-Cincinnati-Ohio-951203. 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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