Complaint Review: Teach Me To Trade, Whitney Education, Russ Whitney
- Teach Me To Trade, Whitney Education, Russ Whitney
1612 E. Cape Coral Parkway
Cape Coral, Florida
- Phone: 866-302-6642
- Category: Financial Services
Teach Me To Trade, Whitney Education, Russ Whitney Unethic Business Practices, Bait and Switch Cape CCape Coral Florida
*Consumer Suggestion: Full Reimbursement
*Consumer Comment: I didn't sign up for the course, but...
*Consumer Comment: so far pretty good
*Consumer Comment: Teach Me to Trade, Whitney Education Group
*Consumer Comment: Teach Me To Trade provides quality, experienced instruction
The first day of the seminar you are told that if you follow their exact "recipe" you can be successful in trading. The instructor says she made $100,000 her first year but she did everything they told her to do and that included spending $30,000 on their classes and software. The instructor spends 3 hours telling you her background and how she came to this seminar and it changed her life. She makes it clear that she never traded before and learned everything from their classes.
The second day they continue teaching you the basics of trading and how their software will help you identify stocks to trade but you have to learn how to read charts and they have classes for that and other advanced classes you will need. In addition, you must use their software that is $1800.00.
Many of the participants had begun to be skeptical that this was just another sales pitch and for most beginners was too confusing to start trading.
The third day many of the participants are skeptical and talking about other software and classes that are much cheaper. Any time there were a few of us talking the sales people made sure they came over to break it up. They asked a gentlemen to leave and threatened him simply because he mentioned the name Russ Whitney. We were told that Russ bought this company. Russ does not have a good reputation and is in fact a convicted felon. The man refused to leave and was allowed to stay.
They asked people to fill out what packages they were interested in buying which the least expensive being the software for $1795, then $7995, $10,995, $13995, $19,955, $25,995, and $30,995. They encourage people to go into debt to get these packages because they assure them they will make the money back if they follow their "recipe".
During the lunch break, I was approachd by a sales person and accused of marketing a software. I told them that someone had asked me a question and I answered them. They asked me to leave and threatened to call the police. I welcomed this because I wanted to see what the police would do with their complaint. I offered to call the police myself and the sales person got very loud and angry. I stood firm that I would finish the seminar unless they refuned my $200.00. After a crowd had gathered, he said he would refund me the money which they did. I was happy to get my $200.00 back and believe that I made the most money of anybody attending this seminar
You have to wonder why they are so concerned that people talk with one another. There is software available that can do more that what theirs does for a lot less. Classes are available at community colleges and elsewhere for $100-200 and not the $4,000 that they charge.
Interstingly, they make claims that if you follow their plan, they have a 95% success rate but don't show any statements or back up that fact. Russ Whtineys company showed a 12 million dollar in the last quarter of 2004. If he is so successful, why is the company loosing millions.
Trading is not as easy as they would make you believe and most people will loose their money. This company takes advantage of the most financially vulnerable and should be stopped.
This report was posted on Ripoff Report on 05/17/2005 06:32 AM and is a permanent record located here: http://www.ripoffreport.com/reports/teach-me-to-trade-whitney-education-russ-whitney/cape-coral-florida-33904/teach-me-to-trade-whitney-education-russ-whitney-unethic-business-practices-bait-and-sw-143014. 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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