• Report: #1024702

Complaint Review: Swing Trading Millionaire

  • Submitted: Wed, March 06, 2013
  • Updated: Sat, March 09, 2013

  • Reported By: Dave — Long Beach California United States of America
Swing Trading Millionaire
Internet United States of America

Swing Trading Millionaire Market authority, Gareth Soloway Company promise no questions ask refunds then told me to file a chargeback with my bank. Says they cannot process refund. Internet

*REBUTTAL Owner of company: This is Jason Cox responding to this Ripoff Report.

*Consumer Comment: Go to the man at the top!

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Very simple.  This company "Swing Trading Millionaire" is marketed through a company called "Market Authority". They market several other companies and individuals in the area of stock, commodity trading etc.  they have a standing refund policy which states in part if requested a refund will be send, no questions asked if requested within 60 days of purchase.

I purchased a trial subscription at a discounted price so i could check out if it was for me or not. I decided it was not and asked for a refund after approximately 55 days to be safe. Incidentally this was all done through work ticket process, no phone numbers or email are provided.

Well, first it took them nearly a week to respond and that was with a question of why I did not like it etc.. after going back and forth with them usually taking 5 or 6 days to respond, they tell me they cannot process refund because their "merchant" blocked it. Then they confess that this merchant froze their account?!. I am supposed to go to my bank and request a charge back! This is a complete fraud and a ripoff! No question about it. I have never heard of  such a thing.  buyer be very aware!

This report was posted on Ripoff Report on 03/06/2013 06:57 PM and is a permanent record located here: http://www.ripoffreport.com/r/Swing-Trading-Millionaire/internet/Swing-Trading-Millionaire-Market-authority-Gareth-Soloway-Company-promise-no-questions-a-1024702. 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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REBUTTALS & REPLIES:
0Author 1Consumer 1Employee/Owner
Updates & Rebuttals

#1 REBUTTAL Owner of company

This is Jason Cox responding to this Ripoff Report.

AUTHOR: Jason - ()

This is Jason Cox responding to this Ripoff Report.

It is true that at one point in time our merchant processor froze such a large portion of our sales that we could not immediately process refunds. In some cases, we told customers to do a chargeback, as the merchant has to pay those and they had our money held.  This is a very small percent of the refunds we've processed.

Our refund rate over three years of business has been consistently around 30 percent, and that is due to our 60-day money-back guarantee that lets anyone get a refund for any reason.
Almost two years ago, we offered a $50 bonus for any customer support agent who could save a customer from refunding by getting them to try a new product. This did not affect our refund rate, so we stopped issuing that.

We have refunded millions of dollars to customers who tried our programs and, for whatever reason, felt it wasn't for them. The other 70+ percent have stuck with their program and continue to buy more programs we put out.

I do not use any aliases. Our business model is to bring experts to the market, thus we have found a number of trading guru's with great track records.

The FTC investigation resulted in no charges because they saw that we clearly refund our customers who ask for refunds. They also found that all marketing they reviewed is backed up by broker statements.

Remember that past performance is not indicative of future performance any time you consider an advisory program.
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#2 Consumer Comment

Go to the man at the top!

AUTHOR: dsmtrader - (United States of America)

I was a victim of this company, but fortunately a disgruntled employee who left after they failed to meet their payroll before Christmas gave me some helpful info.   

The grifter running this operation is called JASON COX.   He uses a number of other false names, but this is his real one.

Contact him on jasonjcoxprivate(at)gmail.com 

The CFO is called KIMBERLY BARELA her email address is kimbarela(at)marketauthority.com

If you paid by credit card file a chargeback claim with your bank immediately.  Mr. Cox has directed his employees to do anything they can to avoid refunding money and even pays a them a $50 bonus for every claim where the customer doesn't get their money back.

You should also write to the FTC in Washington.  They are already investigating this company.
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