Anybody out there familiar with MTI- Market Traders Institute??

Discussion in 'Educational Resources' started by AM Bankus, Jan 8, 2013.

  1. I was invited to attend a free Forex webinar conducted by MTI - Market Traders Institute out of Florida. While the presentation seemed somewhat professional, it all seemed too good to be true and reminded me alot of OTA's PTWs - Power Trading Workshops. In other words a lot of fluff and their product is very expensive.

    So before joining them, I was wondering if anyone out there has had any experience with these guys. Pro/con I would like to hear it. There are a lot of gimmicks out there, I want to be sure this is not just another gimmicky program with no substance. They made some incredible claims with some huge numbers.

    Thanks guys
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  2. RedDuke


    The odds of them being legit are extremely tiny. Not one vendor, will tech you a real edge. Some old methods maybe, not the current working ones.

    When you see some great claims, run, it is almost 100% guarantee that it is fake.
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  3. Bob111


    those who can-do,those who can't-teach
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  4. I agree with Bob, "Those who can do, those who can't teach."
    I did some fact finding on MTI and found that they have a very controversial history.

    MTI sells a Forex course called The Ultimate Traders Package for around $6,000. A few years ago they were selling the same course for $3995. Inflation? Hardly. MTI according to reports, was previously selling their courses and getting the program financed through another party, however, MTI had so many chargebacks and cancellations and complaints that the lender they used at that time would no longer work with them

    In the summer of 2011, MTI had a huge layoff and nearly went out of business.

    The company founder Jared Martinez and his son Jacob were allegedly invloved ina money laundering scam a few years ago and had another company in Orlando that was closed down. It was a Forex Trading company.

    And MTI had an office in Trinidad that was shut down about a year ago.

    All of these trading schools leave a lot to be desired. They are big on hype and short on delivering any measureable results. Their courses are way too expensive for w hat you get out of it.

    And the biggest issue I have is that they generally appeal to the naive looking for easy money. Forex is easy to get into and you will be told by MTI reps thatyou can open an account with a broker for as little as $50. They then tout the big 50-1 margin available to Forex traders and will tell you that Forex is the most liquid market; always a buyer and always a seller. The naivette love this stuff.

    Anyone who understands Forex knows that Forex is extremely high risk and you need more than 16 video lessons and other training from companies like MTI to succeed.

    Even Jared Martinez explains that as a experienced trader he lost over $400,000 in a short period of time. If an experienced trader can lose that much, what chance does a new trader have and why listen to a man who has lost over $400,000??? I don't get it.

    It is estimated that more than 90% of the people who trade Forex lose money. The people who make money are the big players, banks and other insititutions and companies and traders with a lot more experience than buying and taking an overpriced Forex course.

    In my opinion, stay away from MTI. There are plenty of good books available and a lot of free information on the internet. Also, look around in your area for a Forex meeting group, find someone who is successful and will work with you.
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  5. Several weeks ago I was invited to one of their Free No Obligation Webinars via Schaeffers. Owing to the integrity of Bernie Schaeffer and figuring he was connected with these guys in some way, I figured they were legit and 90 mins and free, why not? Maybe I could learn something.

    First of all, I recieved several calls from customer service people telling me that they were calling to help me log in to the Forex webinar, ok I figured, cool. My computer went down for perhaps two minutes, if that and I get a call back from someone who sounds frantic and wants to know what happened to me. I said, no big deal, my computer went down. This person sound irritated and agitated and made me feel like I did something terribly wrong. Hmmm. S I logged back in and waited. I shoudl also mention that I was called one hour before the webinar started. I thought, they expect me to sit here for an hour and stare at this stupid screen?

    Anyway, I got logged on and waited and did a few other things in the process. I waited and waited but they started late. The presenter comes on and says some people are joining late so their would be a delay. WHAT! I am waiting for nearly an hour and have to wait because some others are late? Like that is my problem!

    It finally started about 15 minutes late so now I am waiting for 1 hr and 15 minutes. The presenter sounds very enthusiastic and goes over his background. He claims to be a trader and raves about his facebook page which is loaded with testimonials from so many happy students. The more I listened to this guy, the more he sounded like an Amway guy. It was so pollyanna-ish and gay.

    Then he tells us that this presentation will cover MTI's product called The Ultimate Traders package. We are told that this company has been around for 18 years and then we see slides of a guy named Jared Martinez who supposedly wrote over 20 books and is a Forex guru. I just giggled and thought this is sounding more and more like Amway every second.

    He then tells us the price of the program which is $6.995 and then goes back in to tell us how wonderful MTI is. Now I am thinking, this is suppsoed to be a webinar. So far it sounds like an informercial, which was in fact what it turned out to be.

    Eventually they got around to showing some charts and some very basic, and I mean grass roots basic technical analysis. I was under the impression that this presenter would be doing live trades during the live market. What he really did was show some basic techniques while the market was open. BIG DEAL!

    Then he got back to hyping MTI and telling us how wonderful this company and the Forex market is and why we should go run to get our checkbooks or credit cards and sign up right away for this incredible, awesome training.

    He said to leave our number and someone would call us. I figured, t hatis my cue so disconnected from the webinar and laughed for several minutes rehashing what I just went through when the found rang. It looked like a local number so curiously I answered. Turnes out it was MTI calling me back.

    I say, "Jeesh I didn't know you guys where in my area!" They said,"we are not. We use a local number so it is easier for you to call us back." I think yeah right. You use al ocal number to sucker me to pick up the phone. If I say your number on my caller ID, i would have left it go into voice mail.

    This guy was a tiger and really hussled me. He told me how great the course was and asked me what I LIKED BEST. I told him the best part was when I turned the stupid informercial off.

    This guy went on and on with his sales pitch. I told him I had an appointment, did not want to be rude but had to leave. He said, "No, no, no, wait a minute. While I have you on the phone, tellme about yourself so when we speak again I can be better prepared to discuss yoru needs."

    I think, "Say what?" "Didn't you hear me? I said I have to go and never said I wanted a return phone call. At which poing I hung up.

    Thenn I think, thank God that is over. But the phone rings and it is a local number. I pick up and it is him again. I figure you got to be kidding me! He says, "Sorry we were disconnected.. I.."

    I jump in and say, "We were not disconnected. I hung up because this conversation is over." He jumps right back into his sale pitch.

    I hung up again. He called back and this time I let it go into voice mail.

    This informercial that they call a webinar was a total waste of time for me. It was just a sugar coated sales pitch and their people are rude. In checking around, I have talked with some people who have taken the course frm MTI, none are making money.

    I went to the presenters facebook page and read a lot of incredible testimonials, however, I have to wonder if they are real or if they were just one time lucky trades. I see no information on average returns.

    I have written to Bernie Schaeffer and told him that I am apalled at their association with this company and will never again attend one of their informercial webinars.

    Another thing is that MTIs sales people are not too well educated in personal finance or investing. I asked the guy who called me about binary options and he said he never heard of them.

    In summary, I like Bernie Schaeffer and I am happy with his service, not happy with MTI and their almost comedic style of offering forex education which is really just a sales pitch with very little if any useful information.

    I would not recommend this company to anyone. I am trading options and happy. I amy try forex and seek education, I assure you that it will not be from MTI.
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  6. Appreciate the information on MTI dba as Next Step FInancial holdings. Based on your information, it sounds like this would have made for a nice 1940s movie starring The Marx Brothers!
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  7. --------------------------------------------------------------------

    Most of these companies are just marketers of training information. Provide Free webinars or workshops to induce people to attend then make a great sales presentation loaded with hope and hype. They also usually fall short on delivery.

    I agree with Red Duke. The odds of them being legit is exttremely remote. Google MTI and Next Step Financial Holdings. Ask people at Meetup Groups who actually trade what experience they have. But be careful.
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  8. I attended one of the Free Webinars after receiving an unsolicited phone call from Next Step Financial Holdings. I was told that they were resellers for MTIs (Market Traders Institute) products.

    To see the least, I was blown away by the webinar. It was very impressive and a very good demonstration. I was impressed. Shortly afterwards, I received a bevy of calls from Educational Specialists from Next Step Financial Holdings suggesting I take advantage of the $2000 special discount and signup right away.

    After seeing the incredible returns suggested here by clients of MTI and hearing about a rare 2800 PIPs move, I decided to enroll.

    What a mistake!

    The online videos did not work that well. There were technical difficulties. The trainers and Analyst on Demand seemed to understand theory of forex, but somehow did not seem real. It appeared as though they were merely reciting a well memorized script, sort of like an actor in a play. The analyst alerts had me on the wrong side of the trades most of the time.

    What was worse, was when I called MTI or Next Step Financial Holdings, even after slowly an clearly spelling and pronouncing my name, email address and phone number, it took forever for them to find me in their system. This is not acceptable to me.

    I am now attempting to get a refund but find that I have to jump through hoops, none of which was explained to me when I signed up.

    Initially I got a lot of phone calls, until I signed up and OH they did give me a 3 day followup call which I though showed some class. Obviously, that was only to keep me excited until the 3 day right to cancel option expired.

    I would not recommend MTI or Next Step Financial Holdings. It appears to be all smoke and mirrors. It is not what it is cracked up to be.

    I now know why 95% of people who trade forex, including those who get training, lose money and I now believe that many of these companies are marketers of information only.

    My advice is caveat emptor. :mad:
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  9. bmj1983



    Had an interesting call with "Market Traders Institute". They claimed that they teach people to average 70% return per week. Of course that would compound to $1 million a quarter per $1000 invested. Ya we all have days like that, but not every day, but the guy on the phone implied as average ROR. Pretty much the whole call was "fear of loss" and "magic bullet" sales with some one who called them self an educational specialist. Seemed like code for sales guy aka closer, started naming a bunch of promotions to get me to part with $2000 on the spot... or wait I think he said payment plan to...I hung up at that point.

    But he wasn't finished. Later I received an email with a headline - "NO MORE EXCUSES" Inside I was informed that because I was especially selected, I could take advantage of a never before offered 40% discount off the course of the program. The complete Ultimate Traders Package for only $4100. This is there words, not mine. Only $4100?? Oh yeah. I'm going to jump on that one. But the real kicker was that I was offered this "never before offered 40% discount" at least 4 times since last November. So much for "never before offered." I had to wonder if these guys ever keep any records on who they communicate with or just have so much turnover with their sales people that newbies are not aware of what is going on.

    The claims made by MTI just seem too good to be true. With investors losing an average of 95% trading Forex, how could MTI have this many positive reviews and success? I don't believe it. And if MTI has so many happy an successful students, how come they are never nominated, let alone win any awards from Trader Planet which every year asks clients to vote for the best trading courses?

    Sounds too good to be true.

    Caveat Emptor!
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  10. res19kie


    I have been a student of Market Traders Institute for about a year now, so I will give you my complete opinion and it might be long.
    But first, for those who are looking for quick answers I will my you my own and some other MTI students’ opinion I have met in the nutshell:
    Market Traders Institute’s training is not worth the money they are charging and they are not who they pose themselves to be through their aggressive marketing.
    I am pretty sure that Market Traders Institute was started by FX Chief Jared Martinez more than twenty years ago had great ideas and intentions to help forex traders. This led to its original success, which was hijacked and poisoned by greed of Shawn Beecher’s Next Step Financial Group selling MTI’s services now.
    The Market Traders Institute lost its way…
    The MTI’s objectives have changed then and what was and is still good with MTI: like Ultimate Traders Package, FX Chief’s Mentorship classes, etc is being used as a lure to sell something worthless or repackaged original that people already own, but haven’t read completely because they are still looking for success in Forex by buying more courses and without doing anything themselves. Some of these “continued education” courses have actually a good, but not original idea you can easily find for free online or on your broker’s site. This idea fits one page instruction, but the MTI writers have smeared it over 200 – 400 pages ebook manuals with huge fonts and endless repetiotions, so new and naïve traders might think that they are getting something of huge value that worth over $2000.
    The sales process is cheesy orchestrated feeding frenzy on people who come to MTI in hopes to find new source of income, replace their failed businesses, carriers and jobs. Some are disabled, single parents. Many people are unemployed with none or limited income. The constant sales pitch in many cases is misleading, unethical and borderline fraud - what people are led to believe and many regretfully fall for.
    If you really want to be a good Forex trader you would be much better off keeping your money for now and continuing the search of better training for free or much less. You can spend something less than $100 for few classic trading books you will follow to make money in forex. The successful forex strategies are simple. The books about Price Action strategies, for example, that is used by professionals (look it up) are 20 pages long and cost $2 – 50. You don’t need to pay somebody several thousand dollars to learn these techniques. Learn and practice on demo account, keep your money until you’re successful in trading demo.

    see the rest in the file attached
    #10     Sep 21, 2013
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