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Report: #661506

Complaint Review: Market Traders Institute - Lake Mary Florida

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  • Reported By: Paul — MONCTON New Brunswick Canada
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  • Market Traders Institute 400 Colonial Center Pkwy. Suite 350, , Lake Mary, Florida United States of America

Market Traders Institute (MTI) William Goldenberg, MTI provided faulty technical support and poor instructor support. I was dissatisfied with the service and treatment from the beginning to the end. Every complaint along the way was not dealt with a Lake Mary, Florida

*Consumer Comment: I had a similiar experience with MTI and Goldenberg

*Consumer Comment: You Speak The Truth

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From the onset in May 2010, Will Goldenberg of MTI exerted tremendous telephone marketing pressure akin to harassment aimed at inciting me to take the forex market course at MTI. 

a)      He would repeatedly say all I had to loose was $250., the amount that would not be reimbursed in the guarantee. 

b)      He never explained the terms of the guarantee even if I asked.  How can a novice understand MTIs unclear reimbursement conditions in the fine print without truly knowing what those conditions are?  This is a scam trap to ensure that the client would never benefit from such guarantees.

c)       He was quite pushy to get my signature and credit card number, exerting mental pressure to sign quickly even knowing I was reluctant.  He said that if the Forex market was not for me after trying to learn, I would be reimbursed without question.

d)      Furthermore, he said that I could learn it all through lessons at my own leisure at the rate of a couple of hours a day during a three months period. 

e)      He also knew full well that I would not benefit from the last condition of the onsite training because of travel distance and being cost prohibitive.

Practices resemble fraudulent telephone marketing practices preying on naive and trustful clients.  

 

Once registered, MTI products started giving me problems in a complicated arrangement which was supposed to be supportive.  From the onset, Andy Hall asked a few questions to supposedly create a rapport with the student but he had no time to listen to the answers; he would say that he would return to me and make promises of service that never came.  He initially said that he would call in every Tuesday morning to check how the course was going and to answer any questions;  he called once only.  In your nebulous online distance education scheme, the client was expected to understand all the ramifications of MTI, the platforms used, the material presented, the operations of the institute, and to be available during daytime regardless of ones other daily occupations or work.  This was contrary to the initial treacherous telephone sell. 

In the three months, I repeatedly complained about the technical difficulties with the online course and its material yet very little was done to alleviate the frustrations caused by the misfit.  The misfit as I explained was that there was too much to learn quickly in using the software, accessing the classes by phone, and getting clear direction as to the syllabus and its functioning.  In fact, after a complaint to W. Goldengberg, he sent me the syllabus two months into the course.  To my surprise, this seemed clearer than two months earlier but there was little time left to complete the course.  I stated that my motivation was weaning given the complexity of the MTI system and the sheer high demand on my time; he said I should return to lessons 4 & 5 to learn the basics and that I could be placed on a one-on-one tutorship.  This never happened.  My expression was clear that I understood that Forex trading was not for me, naively thinking that a reimbursement was in order.  Goldenberg said that I should instead learn the basics.  I was funder the understanding (following his initial sales pitch) that if I didnt learn the material with confidence, there would be no questions asked and reimbursement was imminent.

Several weeks after further trials in August, I came to the conclusion that the MTI learning system was not leading to confident trading and that it would be ridiculous to continue. 

I have found that MTI provided faulty technical support and poor instructor support.  I was dissatisfied with the service and treatment from the beginning to the end.  Every complaint along the way was not dealt with appropriately by MTI. 

There are hidden costs associated to accessing a data bank on a monthly basis. Furthermore, nobody can truly understand MTI's garantee conditions at the onset because the client would need to know all the details of how what they entail, and more about how they are going to be ripped off. 

I feel cheated and ripped off by MTI.

My request is for a full reimbursement as was verbally, initially promised by Will Goldenberg of MTI.  Response was that I did not meet their garantee criteria.

So much for fairness and lies, so much for the great American dream and its cheaters, lies and conniving marketers. 

This report was posted on Ripoff Report on 11/13/2010 07:38 AM and is a permanent record located here: https://www.ripoffreport.com/report/market-traders-institute-safe-342/lake-mary-florida-mti-william-661506. 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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REBUTTALS & REPLIES:
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2Consumer
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#2 Consumer Comment

I had a similiar experience with MTI and Goldenberg

AUTHOR: Angry Consumer_10 - (United States of America)

POSTED: Friday, January 25, 2013

I spoke with this Goldenberg guy a couple of times too. He starts off by being somewhat friendly but it doesn't take long before his mode changes into a something like a snake oil salesman. He tells us all these great testimonials about how much money he and others are making trading the currency market, but when I asked for proof, he went ballistic on me



What? Because he says it then that means it must be true? C'mon. I was born on a Tuesday but it wasn't last Tuesday.



He also likes to use the word "guarantee" and Money back guarantee" a lot. But when I asked for him to put it in writing, he backed off and then went for jugular and high pressured me to enroll. He said that if I didn't do this now, how would my financial situation possibly be any better three months from now?



I was in a situation where I didn't have al ot of money. I was layed off and living off of savings. I considered Forex because I thought it might be something I could learn and start making money with right away and William picked up on this and played on it. The fact of the matter was, that I also talked to a lot of people who lost money trading Forex. Mr. Goldenberg assured me that this was because they were not trained. With training I could learn a skill that could generate $2500 to $4000 per month. He said he had many students that captured 400 pips a month and this equated to over $4,000 per month.



He also told me of some of the plays he was in, the currency pairs that he supposedly made a ton of money on. He was talking up "The Aussie Wave", a pivot point prediction and said that being in this trade in the beginning could probably generate a return that would be like buying Apple stock at $10 and riding it up to $600 only it wouldn't take years, it could happen in weeks. Needless to say, I was excited and that got my attention.



However, in checking with more honerably people, I found that pivot point predictions do in fact generate nice returns, providing you are on the right side of the trade and know what you are doing. Also, I was told that no one and is this comes from investors who have been in the markets for over 20 years, ever heard of a pivot point prediction that could generate that kind of a return at all let alone in weeks.



When I told Goldenberg that he just laughed and said those people did not know what they were talking about.



So once again I asked him how much money he made trading and was it more than what he made working? He didn't answer at first and then said he does very well trading. But what is very well. I couldn't help but think he was lying to me so asked him to prove it to me by sending me confirmation slips or other proof of his trades.



I ASKED him how long he had been in the Forex. He said years. So I asked him to send me a copy of his tax return, not the whole return, just the schedule that shows investment returns. He didn't even know what I was talking about and then told me he didn't have to do that and wouldn't so it. He said, "Why should I have to show  you my taxes or conformation slips?" So I told him I didn't believe him. That I would be makinga substantial investment if I did purchase the training and that I had been out of work so needed some sort of guarantee that this thing works.



He went right back to the "60 day unconditional guarantee" where I would get my money back in full, no questions asked. He said I could try it for 60 days. Use the information, Do some trades. Access the Analysts On Demand and on line classes etc. Use it and make money from it. If it didn't work, I would get my money back, no questions asked.



So then I brought up the comments on this board and others like Forex Peace Army as well as comments from people I knew personally who told me that the guarantee was really a joke, that many, in fact most people lose money or were losing money. He got really nasty. He more or less said I was a loser and that I shouldn't beleive what I read on the internet or what other people say.



I couldn't believe this so at this point, ended the call. He called me back and sent me a ton of emails and invites to those sugar coated sales pitches which he calls "webinars" which I promptly deleted. I got so many emails that it fille dup my mailbox. These guys are really pests.



Anyway, I was lucky in that I did not waste my money on this. $5,995 is a lot of money, especially when you are unemployed. I was turned off by this guy and the gall he had to high pressure me into this so he could make a commission. I wonder if he bought the course and if in fact he is a real trader. Somehow I doubt it.



Still waiting for those confirmation slips and tax documents. I guess I'll be waiting a very long time.





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#1 Consumer Comment

You Speak The Truth

AUTHOR: This Is The Truth - (USA)

POSTED: Monday, October 31, 2011

You are speaking the Truth about this Forex trading school and it just goes to show how little they care about you because they know that they are being exposed for their lack of integrity.  If they cared about people like you they would have already contacted you to make amends

Just goes to show you the kind of scam they are running and the kind of dishonest crooks they truly are including Jarod Martinez, the founder.

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