Complaint Review: Better Trades
- Better Trades
- Phone: 800-676-4410
- Category: Brokerage Companies
Better Trades If you're not filthy rich, don't even bother Nationwide
If you have money to burn, Better Trades isn't a bad deal but most of us don't have money to burn. They tell you that you don't need much money to start trading (only about $500) but that's just not true. It's possible, but it's VERY UNLIKELY to make any money in the stock market with just $500.
I just signed up in August so I'm still a bit green when it comes to trading. Better Trades is not very helpful AT ALL. I've had several questions go unanswered. I've attended a few online classes but the instructors just try to get you to buy more products. How am I going to make money if I'm giving it all to Better Trades? Shoot, as much as all their "tools" cost, I won't even have any money to make trades!!!
I'm hoping to get my money back via their tuition refund policy but that's not looking hopeful either. They say that if you don't make $12000 in 6 months (having made 36 trades in that time), you'll get your tuition back. What they don't tell you is that most professionals (Better Trades instructors included) suggest paper trading for 2-3 months before live trading. If that's the case, you'll have to make 36 trades (that's TRADES, not TRANSACTIONS) in 3 or so months, which is not an easy thing to do ESPECIALLY if you cannot sit at your computer during the day. I'm not saying it's impossible, but it darn near is.
People, please be careful if you're thinking about signing up with Better Trades. If you are on a fixed income, this is not for you. If you don't have at least $10,000 to spare, this is not for you. Please heed my warning!!!! Say no to Better Trades.
This report was posted on Ripoff Report on 09/19/2008 02:41 PM and is a permanent record located here: http://www.ripoffreport.com/reports/better-trades/nationwide/better-trades-if-youre-not-filthy-rich-dont-even-bother-nationwide-374457. 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. READ: Foreign websites steal our content
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